Bitcoin Fundamentals - Methods & Stages You Should Know For Developing a Bitcoin App

Discovered and invented a decade ago, the concept of cryptocurrency has grown exponentially in last few years. With the launch of Ethereum, Bitcoin, and Litecoin, people tend to use terms like “mining” these days. And among all these apps, Bitcoin has gained immense popularity among the individuals as well as from the enterprises.

With the deals and funding to Bitcoin in last two years, many investors and enterprises are attracted and started investing in Bitcoin wallet app to expand their financial reach to the target audience or investors. 

People everywhere are not focusing on developing Bitcoin wallet app for iPhone or Android or a desktop application. You may find people who say it is not at all a good idea to invest in Bitcoin customized app, but it is not at a fact. And it is no more a secret that developing Bitcoin wallet application is not so challenging task. 

So, how to go for Bitcoin wallet app for Android, iPhone or Mac? Well, first of all, you have to know the fact that Bitcoin is open source software; it means anyone can tweak the code based on their personal needs and deeds. All such apps are built with the help standard libraries, which are readily available for the development. 

Stage 1 -> Installation of the standard libraries and APIs for synchronization with the Bitcoin

Stage 2 -> Investing in actual development of a Bitcoin wallet

Stage 3 -> Setup permissions for incoming and outgoing transactions from the app.

Stage 4 -> Integrate some standard set of programs in order to handle the transactions from your app.

Following these simple steps will help you get your own Bitcoin wallet app based on your preferences. Now let’s take a detailed view of which methods can be used for developing the app for your business. There are two options. 

With the help of standard libraries, you can get all the necessary and a set of minimum functionalities required to carry out financial transactions. There are various popular libraries available, which includes Chain-Java, Bitcoin, Blockchain, and Coinbase. However, Chain-Java is a bit popular among the developers working Bitcoin wallet app. 

All you’ve to do is to choose any of the standard libraries available and follow the steps/stages mentioned above and you’re done! Isn’t it so simple? 

You can use this method if you don’t have any additional requirements or preferences for the app for your business. But if you’ve specific requirements or preferences keeping in mind the nature of your business, then a method discussed below is the right option.

As Bitcoin is open source software, you can do whatever changes and tweaks you want based on your business preferences. But such development is quite difficult and costly as it will take more time, efforts and requires special skills. However, a customized solution is always beneficial as it clearly fulfills your business needs and deeds. 

You have to perform requirement analysis, develop the requirements from the back-end, develop native Bitcoin wallet app for iPhone or for Android or for MAC devices, design it, perform testing and deploy on the server. 

Well, if you wish to utilize Bitcoin as a payment option, you have the option to go to various payment service providers with your Bitcoin app. Such payment service providers will help you convert currency into a traditional form and transfer it directly to your account on the go. You can leverage from BitPay, Coinbase, Coinify, SpectroCoin and other available payment service providers for the same.

Bitcoin app development is gaining popularity as it makes business more flexible in terms of managing payment transactions, trimming of geo-boundaries and performs operations beyond the lines, and boost up customer base across the globe. What’s your take on Bitcoin wallet app development? Share your thoughts on feedback below!

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