Are you a founder planning to build a crypto wallet? It’s a great move!

But you might have a few questions running through your mind, like

➡️How long will it take to develop a crypto wallet?
➡️Can I build it on my own?
➡️Is there a faster way to get it done?

Even you might have heard different answers; some say it takes 6 months, others claim it can take a year. So, which one is true?

In this blog, you’ll find the exact and practical answers to all your questions. Keep reading to find out the real time taken to build a crypto wallet. Don’t miss the time-saving tips.

What is a Crypto Wallet?

A crypto wallet is a digital tool that enables users to securely transfer, receive, and store cryptocurrency. It stores the private keys that open digital codes instead of holding the coins by themselves. This allows you to access your blockchain-based crypto assets.

There are two types of crypto wallets: 

• Hot wallet - It is connected to the internet for quick access.
• Cold wallet - It stores keys offline for extra security.

Simply, a crypto wallet is a tool for an individual who wants to manage and protect their digital assets safely.

Why Timeline Matters While Developing a Cryptocurrency Wallet?

Time matters in the cryptocurrency market. A well-planned timeframe keeps your team focused, helps them prevent errors, and ensures that the wallet is safe and easy to use.

Serious problems can arise when the development process is rushed. Inadequate testing or security checks might result in mistakes, failures, or even a vulnerability that risks user funds. A single safety issue may harm your company's reputation and make repairs later on more expensive.

At the same time, if you wait too long to start, you may lose out on market opportunities. New features and competitors come along daily, so there is a greater chance to give away the leads. The right approach is to find a balance: organize your time effectively, act quickly but carefully, and provide a wallet that is safe, simple, and ready to gain client trust.

How Long Will It Take to Build Your Own Crypto Wallet?

The time taken to build a crypto wallet will be approximately 3 to 12 months, depending on the features you want to add. Here’s a simple and clear breakdown of the timeline:

If you’re a startup or business that wants to launch quickly with some important features, then a basic crypto wallet is best for you. It will take around 1 to 3 months to build with simple features like sending, receiving and storing digital assets.

A mid-level wallet is suitable for founders who have 3 to 6 months to launch. It supports multiple cryptocurrencies, provides enhanced security, and includes features like transaction history or QR scanning.

If you’re not in a hurry, then you can go with the advanced wallet. It will take around 6 to 12 months or more. It comes with features like NFT support, DeFi integration, staking, biometric authentication, and cross-platform compatibility.

Whether you built it from scratch or used a white-label solution, or outsourced from a crypto wallet development company, the overall time duration depends on your approach to development.

Keep in mind: The more features and customization you add, the longer it takes.

Factors Affecting the Time to Create a Crypto Wallet

Everyone has specific requirements, so the time differs accordingly. It depends on what kind of wallet you’re making and the features you want to add. Here are the main things that impact the timeline:

Platform choice

A crypto wallet can be built for various devices, like web, mobile, desktop, or even hardware devices.

• Mobile wallets take more time because they need versions for both iOS and Android.
• Hardware wallets need stronger security and special tools, which also adds time.

Security level

If you include more security, then your development time becomes longer.

Some security features like strong encryption, two-factor authentication, or multi-signature access take extra effort and time, but it’s worth it to keep user funds safe.

Supported currencies

A crypto wallet that supports one or two coins is faster to build.

If you add more cryptocurrencies or different blockchains will increase the coding time as well as testing time.

User Interface (UI/UX)

A clean and simple user interface is important for a crypto wallet, but it takes time.
Mobile wallets require additional features like 2FA login or biometrics, while web wallets focus on easy navigation.

Exchange and API integration

If the wallet allows users to buy, sell or swap crypto directly, it needs exchange and API integration. These include more coding and testing time to make sure everything works properly and securely.

Custom features

Some additional features, like transaction history, QR code scanners, or backup options, make the wallet better, but they impact the time to develop.

DIY vs. Professional Crypto Wallet Development: Which is Faster?

When it comes to crypto wallet development, you have to pick one: do it yourself (DIY) with your own team or hire professionals who are experienced in wallet development. Both can get the task done, but one is definitely faster.

DIY development (In-House):

Creating a wallet on your own gives you full freedom. You can decide on every feature, design, and technology used. But that freedom comes with extra work and time. 

You need to hire skilled blockchain developers, build a tech stack, and handle testing and security from scratch. If the project is complex, it usually takes 6 to 12 months or even longer. It is great for independent and complete control, but not for those who want speed.

Professional development (Hiring experts):

Partnering with a crypto wallet development company is a faster and simpler pathway. They already have pre-built frameworks, proven workflows, and deep technical expertise.

Due to their experience, they can deliver a secure and feature-rich crypto wallet within 3 to 6 weeks. From design to launch, they handle everything and allow your team to focus on your business instead of coding.

Here’s a quick comparison table for better understanding:
 

Steps Involved in Building a Crypto Wallet (With Timeline)

Building a crypto wallet might seem complex, but breaking it down into clear steps makes it easier to understand. Here’s how it usually develops and how long each step takes:

1.Make a Budget (1–2 Weeks)

Choose who will use your wallet and what it will do.

• Examine the market and competitors.
• Decide which users (beginners, traders, or businesses) are your target audience.
• List the features: staking, NFTs, multi-currency, and send/receive crypto.

💡A clear strategy ultimately saves time.

2. Create the Structure of the Wallet (1 Week)

Build the technological framework.

• Select whether your wallet will operate on a single or several servers.
• Pick security options such as encryption, codes, or passwords.
• Choose the blockchains it will work with.

💡 A well-designed wallet is quick and safe.

3. Design the Look and Feel (1–2 Weeks)

Make it simple and enjoyable to use.

• Design basic screens for sending crypto and checking balances.
• Plan user activities for managing wallets and transactions.
• Include your logo and brand colors.

💡 Users are satisfied with a simple interface.

4. Create the wallet (2 to 3 weeks)

To make it work, write the code.

• Frontend: The interface that people view and use.
• Backend: Manages accounts, transactions, and data.
• Smart Contracts: Automate processes such as DeFi or staking.

💡Using skilled developers speeds up this process.

5. Secure & Test (1–2 Weeks)

Verify that everything is secure and running.

• Test every feature.
• Look for security vulnerabilities.
• Ensure that it is simple to use.
• Obtaining a security audit is optional.

💡 Testing now helps avoid issues later.

6. Launch the wallet (a few days to 1).

Get your wallet live for users.

• Install servers.
• Publish online or in app stores.
• Verify all rules and regulations.

💡Professionals can help with a quicker launch.

Smart Tips to Speed Up Crypto Wallet Development

Developing a crypto wallet doesn't have to take a long time. You can launch more quickly while maintaining security and reliability if you use the proper technique. Here's how:

Use an MVP to start small

Prioritize the fundamentals. Create a basic version with the essential features, deploy it, and then make adjustments in response to customer feedback.

Pay Attention to What Really Matters

Include only the essential features, such as safe transactions, simple key management, and multi-currency compatibility, in the initial version. Later on, more features could be added.

Use pre-existing Tools

Use pre-built modules for transaction management, blockchain connectivity, and login to save time. This spares you from having to start from scratch while coding.

Be Well-Planned and Maintain Organization

Set precise deadlines and maintain open channels of communication. Development stays on track, and delays may be avoided with a well-planned approach.

To build a crypto wallet more quickly and effectively, start small, concentrate on the important things, and use smart tools.

Conclusion

Some people think that building a crypto wallet is a time-consuming process. But with the right approach, you can develop a secure and feature-packed wallet that meets your specific business needs. 

Whether you choose to build it on your own or partner up with experienced professionals, the key is to plan carefully, focus on important features and have a well-planned strategy throughout the development process. 

At Hashcodex, we’ve an experienced team to build a crypto wallet that suits your business requirements. We offer advanced services to the founders, startups, and entrepreneurs all over the world. Our agile development approach saves your time, and we handle everything from the beginning.

If you want to build within your hectic time, you can hire us!