How to Create a Web3 Wallet for a Product?

Most brands use ready-made cryptocurrency wallets, integrating them into their system. However, there is another situation when a project, most often already working in the blockchain sphere, understands that creating a Web3 wallet would bring many conveniences to its audience.

There are many such examples. Most often, this can be seen in crypto exchanges like OKX or Coinbase, which use their crypto wallet to unite their audience, gain additional control and add mobility to their project.

Of course, the process of creating a Web3 wallet will always be slightly different for each developer. They will face individual problems or questions that will have to be solved. But we have developed a standard scheme by which you can follow the creation process:

Stage 1: Define the Purpose of the Wallet

The first step will always be a clear goal and plan. Brands need to clearly outline why they are creating a Web3 wallet and what its primary function will be. For example:

• You want to retain control over your ecosystems and data;
• You want to use it heavily for marketing purposes, making it easier for your customers to use tokens as a part of a Loyalty program;
• You plan to work with NFTs, and you need a way for your customers to store them or get access to the marketplaces;
• You plan to create a dApp of some sort and want to give your customers an easy way to interact with it, etc.

Clearly defining this purpose helps to design the wallet around user needs.

Stage 2: Choose the Type of Wallet

Projects need to decide on the type of wallet, basing their decision on the very goal they defined in the first stage. A simple example: the purpose of creating a wallet for you is to improve the accessibility of your project or improve the user interface. That is, the wallet should in some way make it easier for your customers to work with your product.

In this case, you choose between hot and cold wallets with these examples in mind:

• A project launching a token-based loyalty program might opt for a hot wallet to make it easy for users to earn and spend tokens across different platforms.
• A project selling high-value NFTs could offer a cold wallet to customers for securely storing these exclusive assets, emphasizing long-term safety.

In addition to the goal, it is also important to consider whether you have the funds and time for development. There is an opinion among experts that browser wallets take less time to develop than mobile or desktop wallets.

Stage 3: Develop a Branded Wallet App

Here are the basics of the process:

1. Choose the blockchain(s) the wallet will support (for example, Ethereum, Solana, Binance Smart Chain, etc.).
2. Design the user interface to reflect the brand’s identity (logo, colors, UX flow) and make it easy to use.
3. Implement wallet functionality like token storage, sending/receiving assets, connecting to dApps, and viewing NFTs.
4. Ensure multi-platform support (mobile, desktop, and browser extensions) to maximize accessibility.
5. Implement security features such as biometric login (fingerprint, FaceID), two-factor authentication, and encryption should be implemented to ensure a secure user experience.

Our process in web3 wallet development includes choosing the right blockchain(s), designing an intuitive interface that mirrors your brand, and implementing core functionalities such as token storage and dApp connectivity.

Stage 4: Integrate Features for Better User Experience

At this stage, you can let your imagination run wild. Of course, within the budget and possibilities. It is worth considering what additional features can contribute to the goal for which you are creating a Web3 wallet. For example:

• Custom tokens or NFTs;
• dApp integration;
• Push Notifications, etc.

Beyond basic storage and asset management, integrating crypto payment integration can streamline transactions on your platform, making it a critical feature for brands looking to offer a modern payment solution.

Stage 5: Comply with Regulatory Requirements

Ensure the wallet complies with relevant regulations in different jurisdictions, especially regarding KYC (Know Your Customer) and AML (Anti-Money Laundering) policies, particularly if dealing with cryptocurrencies or financial transactions.

For custodial wallets, brands may need to register as a financial service provider or adhere to specific local crypto regulations.

Stage 6: Launch and Market the Wallet

Once the wallet is ready, the project should create a robust marketing plan to educate users about its benefits and uses. All this can be done either in conjunction with the development of the main project to attract Web3, or separately. You should also provide detailed guides on wallet setup, security, and usage to onboard users smoothly.

The process of developing and launching a wallet can take from a couple of weeks to half a year, but only in the case of a complex project. Our team helps to implement any project on working with Web3 and blockchain. You can read about the latest examples in our portfolio.

For example, about our project based on Utila MPC for the CEX platform Coinpappa. Proxy wallets were created for each user of the exchanger to accept deposits and also to withdraw the cryptocurrency after the exchange. The platform supported Ethereum and Bitcoin.

Future of Web3 Wallets

Web3 wallets will play an increasingly central role in the future of dApps, DeFi, and digital identity. As the Web3 ecosystem expands, wallets will evolve beyond simple asset storage to become gateways for seamless interactions with blockchain-based services.

You can be a part of it, and get the most out of it as a pioneer or innovator. Or just use something that works fine already. The main thing is that Web3 and its advantages have already been felt by a large number of famous brands. You can, too.

Learn more about our services on our main page.