Cryptocurrency and blockchain are becoming the most demanded businesses in the current digital sphere. Be it any business, it is important to ensure its security for sustainability in the long run. Especially with a wide spread competition for business like crypto and crypto exchanges, it should be the top priority. With every passing day, the count of cryptocurrencies and crypto exchanges in the market keep rising. So, it is extremely important for you to know how to protect and secure your crypto assets if you want to be part of the cryptosphere and be successful.

Even though crypto businesses are making rounds in the market, some investors are still uncertain to set foot because of the risk factors and hack threats. This is where cryptocurrency wallet development plays a major role. A crypto wallet is a software that allows you to sell, receive, secure and control your cryptos. The wallet users can interact with the associated funds and generate private keys. The wallet will be encrypted with multi-layered security codes which will make it impossible for any third party to access or hack.

There are different types of crypto wallets such as,

• Hardware wallets
• Desktop Wallets
• Paper Wallets
• Mobile Wallets
• Web Wallets

Now, how to create a secure wallet for your crypto assets? What are the essential factors to be included? Let’s see below.

Key features of a cryptocurrency wallet

• Display of the most used address for the users to to easily access the readily available, authentic ones.
• Two-factor authentication for user’s account for protection
• Paper wallet to scan and make use of paper currencies
• Updates of changes in currency values
• Push notifications to alert users about prices changes of cryptos
• Back up for the wallet storage
• Transaction histories
• QR code scanner
• Multi-layered security protocols.

These are the essential features for a robust crypto wallet. If you want reliable services for your wallet, reach out to Blockchain App Factory. They will offer a whitelabeled multi-currency wallet for your cryptos, that will ensure safety, efficiency, risk-free, hassle-free business experience. And also, their services are quick and cost-friendly.

Stablecoin Development: Peg your Assets and Stabilize the Crypto-World!

The topic of stablecoins entered the fray in late 2017 and early 2018. Described as the “Holy Grail of Cryptocurrency”, a scalable and stable digital currency would push for adoption in daily use. The stablecoin represents three units of monetary value; unit of account, store of value, and medium of exchange. This differentiates stablecoin from the rest, this can have a real-utility value in a way volatile cryptocurrencies cannot.

The emergence of secure, efficient, trustless stablecoins provides a platform to develop an overall distributed ecosystem of markets, loans, and insurance. Also, payment for various DApps would increase the anticipation and advocacy of stablecoin.

The most crucial advantages of stablecoins include:

• Price stability
• Decentralization
• User Privacy
• Transparency
• Programmability
• Redeemability
• High-end security

Stablecoins – the future of crypto coins?

The focus of cryptocurrencies has always been to create a less volatile more liquid and decentralized digital asset. The Stablecoin can be considered to be the Holy Grail that the crypto advocates were looking at.

The Stablecoin can be expected to facilitate transactions without friction, not only between two parties transacting using cryptocurrencies but also between parties that might need to shuttle between crypto and Fiat.

Additionally, Stablecoins can give the escape hatch for erratic economies like Zimbabwe under Mugabe’s rule. They can choose to move their money to a different economy or an asset without losing out on the value.

Cryptocurrencies haven’t found their fullest reach or recognition yet and Stablecoins can only be expected to make them better understood and more reliable.

Stablecoin development services:

• Fiat-backed token/coin development
• Precious stones backed token/coin development
• Gold-backed token/coin development
• Necessary KYC/AML integrations
• Effective Whitepaper
• Legalization
• API integration
• Cutting-edge blockchain technology integration
• Smart contracts integration
• Token sales/ distribution
• Payment Gateway integration
• Best-in-class marketing strategies
• Community building
• Stablecoin unique pre and post-launch services

At Blockchain App Factory, we are one of the first Stablecoin Development Companies, offering end to end Stablecoin development services including creation, trading and marketing. 

STABLECOIN: TYPES & ITS IMPORTANCE

Cryptocurrencies came into existence in 2009, with bitcoin being the first crypto coin. Since then, there is a lot of debate and discussion about the cryptos and the underlying blockchain technology. Most importantly, the criticism came from the ardent backers of the existing traditional finance system. They feel threatened by the growing popularity of cryptocurrency and how it is going to change the present finance structure across the globe.

Some of the reasons why they don’t want cryptocurrencies into the mainstream finance structure:

1. Scalability
2. Cybersecurity Issues
3. Price Volatility
4. Lack of Inherent Value
5. Regulations

Out of the points mentioned above, the naysayers are focusing mainly on the volatility. As any real-world assets back it, they call the cryptocurrency ecosystem is a bubble. To minimize the volatility of the price, the crypto world came with stablecoins.

The stablecoins are crypto-asset designed to minimize the volatility of the price by backing the crypto with real-world assets. There are different types of stable coins: Fiat-backed Stablecoin, Commodity backed stablecoin, Cryptocurrency-backed stablecoin, Seigniorage-style stable coin. A stable coin provides the benefit of a transaction as it has a fixed value relative to the underlying asset.

Many have a question of why we need so many stable coins. That’s a valid question. We have around 200+ stable coins right now. Too many options lead to confusion instead of assisting us in choosing the right one.

Now, people, after assessing all the benefits of each kind of stablecoins, Seigniorage-style stable coin is considered to be worth relying on. This type of coin is otherwise called as algorithmic stablecoin. It is based on algorithmic balancing the circulation of cryptocurrency based on the rise and fall of currency value, just like how central banks manage the currency value of a fiat currency. 

Multi-Crypto Currency Wallet: Different Types And Its Features

There is a meteoric rise in the number of people who use and invest in cryptocurrency and the underlying blockchain technology. This wrecking ball of the virus has made more people turn towards cryptocurrency trading and other altcoin investments while they are staying at home.

Right now, a lot of people are considering crypto trading as an alternative source of income. With such a level of increased adoption of cryptocurrency, people tend to choose a crypto wallet without considering in-built features in it. So, before you decide to create a cryptocurrency wallet, here are a few things to know about crypto wallet and their security features.

What is a Crypto Wallet?

A Crypto wallet is a tool you can use to interact with a blockchain network. The different types of wallets are:

1. Software Wallet
2. Hardware Wallet
3. Paper Wallet

Unlike your PayPal or Paytm wallet, which stores the value of the amount you have in your account, the cryptocurrency wallets store your public key and private key information, which will enable you to transact. These public keys are like usernames, and private keys are like your secured password. You can share your public key to receive money and private key to send money.

Based on the way it stores the information and other working mechanisms, it is categorized as a hot wallet and cold wallet.

• Hot wallet is the one which is connected to the internet
• Cold Wallet is not connected to the internet.

The software wallet types are web, desktop, and mobile wallets. The hardware wallets are like your external hard disk, which you can plug into the desktop and laptop to transact.

Though, there is no hard and fast rule which will help in 100% wallet security. You need to keep both your system secured with all the necessary updates now and then.

We hope the above-summarized information will help you get an overall picture before you decide on the type of cryptocurrency wallet you need. To develop a fully functional multi-currency wallet, you need a Cryptocurrency wallet development company to advise the best and develop a secured wallet system.

Choose wisely before you invest!