With the event of higher risk in cash handling transaction, the world is heading towards the technological path. Here, bitcoins have come as saviour for massive and hassle-free transactions. Today, bitcoins growth rate have left the world awe-struck. With more number of customers coming forward to purchase bitcoins, the demand for bitcoin wallet mobile apps is fervently rising.

Bitcoin wallet application is same as other banking apps used by us in our daily financial chores. It deals with safe housing and transactions related to bitcoins. In order to create a wallet, one must be aware of the requirements and technicalities which would incur while the process of maintenance and reciprocation. So, here we talk in detail regarding basic features & functionalities which plays a crucial role in bitcoin wallet app development.

bitcoin wallet app

Firstly, the app is divided into three major categories:

User Panel

Sellers & Buyers

It is these people who will use the app to sell and buy bitcoins

Sign-up/Sign-in

This section is useful to create the user account. The app user has to signup to the app via his/her email ID, or social media credentials can also be used.

Manage Account

After the login is successful, the app user are now ready to sell & receive bitcoins and carry out other transactions. Other crucial information like, the no. of bitcoins which are available as well as amount details are displayed here.

Buy Bitcoins

It is at this section where users can go ahead and buy bitcoins. Information about seller, along with BTC rate as well as the amount that they have to pay will be displayed on this page. User can request for the deal to buy bitcoins accordingly.

Sell Bitcoins

Users need to head to this section to sell bitcoins. Information like BTC amount, rate along with the payment that is to be transferred, features here.

Filtered Search

Searches can be filtered by the users as they buy bitcoins. The amount range &no. of bitcoins that the user is keen on purchasing can be selected from here. Hence, this makes the entire of investment process quite easy.

Request a Deal

After the user has settled the deal to buy bitcoins, it’s then time for user verification. If it is found that the user is not verified, then they are automatically navigated to themain verification page.

Recognize the buyers

It is at this section where the sellers can see the buyers’ list. Here the information like buyer’s name, no. of bitcoins which s/he wants to purchase along with a deal number to verify the transactions, is displayed.

app development

 Send/Receive Bitcoins

Here in this section, with the help of wallet address users are able to send & receive bitcoins. Each wallet has its own unique address and at times,a pin to verify the transaction.

User status

It is at this page where user will find account verification information, time & date of registration and the membership details which s/he has selected.

Push Notifications

Notifications regarding new requests, money transferred & received are sent to users, along with transaction status.

 Admin Panel:

Dashboard & Login

This section is dedicated to Admin, from where he can login with all credentials as well as can view user profiles like their account status, address, account registration date, and a lot more.

User Management

After signing up to the app, admin can view information such as no. of registered users, purchases the users have made as well as their total earnings.

Advertisement Management

Admin manages the advertisements which are posted. Users are updated regarding the BTC rate, amount & other crucial information.

Membership management

It is under this category that the entire of membership packages, which the users have availed, are managed. Prices and benefits related to these packages are also stored and managed here.

Accept PIN reset request

Admin can view and manage requests made by users in order to reset PIN. Once the admin has reset the PIN, he then shares it with user.

Handle withdraw request

Admin can also track withdraw details which users have made. He then stores the amount that has been withdrawn to keep a track.

Transaction Management

From this section, the admin monitors bitcoin transactions. Information like amount, transaction ID, date & time of transaction, is stored.

Modify settings

Information regarding Bitcoins like current rate, minimum and maximum amount that has to be transferred can be changed by admin.

Content analysis & management

It is from here that admin can manage static pages and static content, such as Terms & Conditions, Privacy Policy, FAQs, Contact Us form, and a lot more.

Advance Features:

After the integration of basic features in the bitcoin mobile app, then it is time to explore about the more advanced and effective features crucial for Bitcoin Mobile Application.

QR Code Scanner

QR Scanning is crucial for app which require to make payments quite often. Scanning QR code not just save time but lessen the hassle to enter account numbers and other details each time a transaction has to be made.

Push Notifications

Just as for other apps, Push Notifications is hugely helpful for Bitcoin mobile apps as well. It is crucial to send information like sudden price drop/rise. Users can be updated if they receive any payments from anyone. This enhances user engagement as well as increases app’s effectiveness.

Auto-cancellation in case of double payments

This is highly useful feature for bitcoin mobile app. If double payments occur mistakenly, the duplicate transaction request gets deleted automatically.

Optional Logout

It is owing to security that customers are absolutely hooked up to the bitcoin mobile applications. The app can be made highly secure with optional logout option. Like, in case user has not signed out of the wallet app, their session will be automatically terminated by the app.  Hence, in case of loss or theft of your mobile phone, your bitcoin wallet is still safe.

2-factor authorization               

As it comes to wallet mobile apps, two-way authentication tends to be extremely crucial. Once the user has entered username and password, s/he is then required to pass second layer of authentication process. It could be a set of questions or some sort of physical detection. This cannot be accessed by any other person but the user.

Recurring billing & invoicing

This feature is crucial for the ones using Bitcoin wallet for business related transactions. It saves effort and time to write long account number for every single transaction. Business trading parties linked with the app are automatically paid monthly. Hence, no requirement to keep a track or to make transaction, as it is done by itself in bitcoin mobile app.

Technology Stack

As the development of Bitcoin Mobile app goes, it is vital to implement appropriate technological standards. Creation of bitcoin wallet mobile app differs from majority of other apps. Hence, app

developer should be well-versed with technical know-how and have knowledge about bitcoin system before beginning with the development process.

  • Framework, like CakePHP, Laravel, Drupal and Database, like MySQL, MongoDB to manage data ober BlockChain API.
  • Bitcoinj: The Java library enables you to integrate Bitcoin into your mobile app.
  • Bitcoin core RPC: Allows the app to run as daemon and expose a RPC interface used to construct distributed, client-server based apps.
  • io: Useful to generate the address & to make reliable transactions via Bitcoin wallets.
  • io: Written by Coinbase, toshi.io is a full bitcoin node using a Websocket API.

Team Structure:

A team of skilled professionals consisting of developers (iOS & Android Developers), designers (UX/UI designers) and testers is needed to create a sophisticated bitcoin mobile application. It is important to zero upon deserving, efficient and adept candidates for app development process.

Analysis for Cost Estimation of Bitcoin Mobile App Development

So, now you have gained knowledge about technology stack and team required for development process, it’s time to determine the cost for development. Creating a bitcoin mobile app is way more complicated as compared to any other mobile apps out there in market. So the estimate also consist of App Developer rates. Like if app developers charge $50/hour, then the estimation for Blockchain app and Coinbase is given below. Here the $50 is taken as the median per hour rate.

 Task Coinbase Blockchain BitcoinJ
Backend Development $10 000 $10 000 $10 000
Android $ 30 000 $ 25 000 $ 30 000
iOS $ 30 000 $ 25 000 $ 25 000
Web/desktop $  5 000 $  5 000 $  5 000
Design $  7 000 $  8 000 $  8 000
QA / PM $  5 000 $  5 000 $  5 000
Total $87 000 $78 000 $83 000

So, ultimately, the range will be around $70,000 to $90,000. But that is only when the cost is $50 per hour. App Development companies found in eastern countries charge around $30 to $80, while countries like India charge very low at around $20-$50 per hour.