Properties of an Effective Crypto Wallet

3 min readJan 4, 2023

An effective crypto wallet should not only guarantee security but also support fast transactions. While most crypto users prioritize security when selecting a crypto wallet, ease of use is still an important consideration.

In any case, if you have a crypto wallet that people find difficult to use, you may not only lose out on a large market segment but also fall short of customer expectations. Today, there are slightly over 81 million crypto wallets in the market. This means customers have a wide range of crypto wallets to choose from.

Therefore, if you intend to generate more customers for your crypto wallet, then there’s a need to invest time and effort in creating a market-driven crypto wallet. That way, you not only stand a chance to generate more revenue from your wallet but also build a strong portfolio in the world of crypto.

In this article, we explore some of the key properties that developers should consider when creating a crypto wallet for their customers.

Push Notifications

Push notifications are an important feature that not only improves engagement but also improves conversions. Generally, push notifications are mobile alerts that reach users who have installed the app.

Most mobile apps are quick communication channels that enable companies to share offers or convey other information to users. In this case, users can simply tap on the notification to take action. It is against this backdrop that including the notification feature when designing a crypto wallet is beneficial to both the owners and users.

Compatibility On Various Devices

To appeal to a large market segment, it is important to ensure the wallet is compatible across various operating systems. For greater flexibility, opting for cross-platform mobile development simplifies the development process.

However, cross-platform development not only helps in speeding up the development process but also eases management capabilities and lowers the cost of development.

Automated Log Out

The automated log out feature aims to prevent other people from accessing your wallet. As such, the feature logs users out automatically after a period of inactivity. This is important for a successful crypto wallet since it minimizes the risk of losing your digital assets.

In that regard, a good wallet should be able to automatically log out users immediately after they close the app. That way, you stand a chance to protect users from losing their digital assets just in case something goes wrong.

Two-Factor Authentication

A two-factor authentication feature protects user funds from the risk of being hacked. Aside from requesting users to confirm their identity, developers should aim at asking users to confirm login attempts from unknown IP addresses.

Two Factor authentication adds a layer of security for a crypto wallet. For example, Defix wallet users have to verify their identity through Two-factor authentication to access their funds. This limits the risk of losing your digital assets to hackers.

Conclusion

As the number of crypto wallets continues to increase in the market, the quality of the app is a major deciding factor influencing wallet downloads. After all, great features may not offer value for money if they don’t function properly.

In this regard, we encourage you to download and install the DeFiX wallet. In fact, if you are looking for a highly secure and user-friendly wallet, then it's high time you consider installing the DeFiX wallet.