Last Updated on 2 weeks by Ameer Hamza
The increasing relevance of digital assets has contributed to the surge of many decentralized exchange platforms. Along with this growing trend in the Middle East, a multi-chain crypto wallet makes it easier to own and interact with several digital assets from one platform.
In this article, you have a guide through the basics of a multi-chain crypto wallet and, more essentially, how you can build one.
What is a multi-chain crypto wallet?
A multi-chain crypto wallet is a platform for digital asset owners to store and manage multiple wallets on the same application. As a crypto user in the Middle East, you may own numerous digital assets across different platforms simultaneously. Having many accounts and applications dedicated to your digital asset platforms can be challenging.
A multi-chain wallet eliminates this process by enabling you to store and manage several cryptocurrencies from one application. Examples of popular multi-chain wallets include Trustwallet, Mathwallet, Bitkeep, and Coin98. These multi-chain wallets can be accessed via a mobile or web app and a browser extension.
Benefits of a multi-chain crypto wallet
Some of the reasons why multi-chain crypto wallets are popular among crypto users include the following benefits – Ease of accessibility, advanced security, user friendly, and privacy.
How to create a multi-chain crypto wallet
- Find a suitable blockchain framework: The first and vital step in creating a multi-chain crypto wallet is to choose a suitable platform to build your application. There are many options, depending on the features and complexity you want to integrate. This is also the stage where you determine your market, adopt the various cryptocurrencies you wish to support in your wallet, and the entire makeup of your multi-chain wallet.
- Create a user-friendly interface: A good user interface determines the rate at which your application is adopted. Thus, you have to design a user interface that is easy to navigate and offers a unique user experience. You should ensure that your UI boosts user engagement by testing and meeting the features you envision.
- Develop the appropriate application logic: You must incorporate the right transaction processes at this stage. It covers security mechanisms like two-factor authentication and end-to-end encryption. The suitable application logic will prioritize the safety of your users’ data and assets.
- Test your developed wallet properly: This is the stage to go through before you launch your multi-chain crypto wallet. You should eliminate errors and possible glitches during this testing phase and ensure your platform functions as it should. Test the developed wallet under different scenarios to ensure its performance, functionality, and security.
- Launch your application: Finally, the last stage! You build a multi-chain wallet to deploy and make it available for crypto users. Multi-chain crypto wallets can be deployed as browser extensions or mobile apps.
When you choose to create a multi-chain crypto wallet, you can have a development team or opt for the services of a crypto wallet development company to help build. Regardless of your choice, ensure you continue improving your wallet’s functionality and security.