Store digital assets of investors safely by developing an AlphaWallet clone

In recent times, people are investing huge amounts in digital assets like Ethereum (ETH). The daily trading volume of the second-largest Cryptocurrency is more than $15.71 billion. Likewise, there is a popular open-source wallet where users can store their fungible tokens, NFTs, and DeFi tokens safely. It is none other than AlphaWallet. Both investors and business enterprises can manage their portfolios and also use Decentralized Applications (DApps). Are you interested in transforming the future of the financial system? Develop an AlphaWallet clone with us. 

What are the main features of an AlphaWallet clone app? 

Transaction History – It showcases the details of payments made by users from one wallet address to another. Investors can filter the information based on either tokens or accounts. This ensures transparency. 

Crypto buying option – Users can purchase digital currencies like Bitcoin (BTC) and Ethereum easily. They can click the Buy button, head over to crypto trading platforms and decentralized exchanges (DEXes), link their hardware and software wallets, and process transactions. Moreover, investors can also use their existing fiat currency holdings for purchasing cryptos of their choice. 

DApp Integration – The WalletConnect open-source protocol allows investors to easily access a variety of Decentralized Applications (DApps). For instance, users can utilize Etherscan block explorer, Decentralized Exchanges (DEXes) like Uniswap, DeFi platforms like Aave, Compound, and Yearn. Finance, and NFT marketplaces like OpenSea and Raible. 

Biometric authentication – An AlphaWallet clone app utilizes “Secure Enclave” technology for protecting the data and funds of investors. Hence, they can safeguard their crypto holdings with biometric authentication, Personal Identification Number (PIN), and 12-word seed phrases. 

Besides that, an attestation mechanism prevents the misuse of accounts and wallets. Moreover, users can also sign transactions directly from their smartphones without revealing their private keys and digital tokens. 

Multi-chain support – Investors can transfer their fungible tokens, DeFi tokens, and Non-Fungible Tokens (NFTs) across different blockchain networks and sidechains. They can choose options like Ethereum, Fantom, Avalanche, etc. Crypto holders can utilize layer 2 solutions such as Arbitrum and testnets like Ropsten, Kovan. Rinkeby, and Sokol. 

 Help Centre – Users, business enterprises, and investors can solve problems by contacting the help desk. They receive support for problems like swapping of tokens, loss of seed phrases, submission of Decentralized Application (DApp) proposals, and depositing and withdrawing funds. 

How does an AlphaWallet clone script help business firms to tokenize their assets? 

National and international brands, startups, and renowned multinational companies (MNCs) can harness the benefits of tokenization with an AlphaWallet clone script. Importantly, they can utilize it for both commercial and non-commercial purposes. The ready-to-use white-label solution is packed with features like integration with Decentralized Finance (DeFi) platforms, a MagicLink for transferring tokens, plug-ins with hardware wallets,  private key back-up, and a vault for storing digital assets. 

Analyzing why support for the ERC-875 Protocol is a special aspect of AlphaWallet clone app development

Introduced in August 2018, the ERC-875 Non-Fungible Token (NFT) standard offers several benefits for investors. They can use options like atomic swapping and also batch the crypto collectibles into lots while transferring funds. Moreover, the ERC-875 standard performs several functions. It shares real-time data about the account balance, transfers and payments made by users over a period, and the wallet addresses of the senders and receivers.

Why are Smart Tokens the unique selling point (USP) of an open-source Ethereum mobile wallet like AlphaWallet? 

An Ethereum mobile wallet like AlphaWallet allows users to directly access their tokens without utilizing Decentralized Applications (DApps). Hence, investors can earn interest from their stablecoins like USDC (USD Coin) and USDT (Tether). Therefore, they can use their tokens as Mini-Decentralized Applications (DApps). 

Importantly, the open-source Ethereum wallet utilizes the TokenScript framework. Moreover,  these smart tokens can directly interact with the smart contracts of the Decentralized Applications (DApps). 

In the long run, crypto investors benefit from a better user experience. For instance, users can keep a close watch over their ENS domain tokens, purchase merchandise from stores using digital currencies, and also participate in different events. 

Eventually, these smart tokens can represent coins, tickets, and passes for sports events, insurance for crypto holdings, and also real-world assets like books, cars, fashion accessories, and gold. 

How is AlphaWallet all set to transform the blockchain and crypto industry? 

 For a long time, crypto exchanges like Binance and Coinbase had complete control over the assets of investors. This is because of the presence of custodian wallets. Hence, users will not have access to their funds in case of hacking and phishing attacks. However, AlphaWallet based on Web 3.0 will change that. 

This is because crypto holders can back up their private keys and seed phrases directly. Interoperability ensures a comfortable user experience for all investors.  

Besides that, AlphaWallet will come out with new functionalities for forked wallets. This includes a verifiable proof of identity, an instant sign-on mechanism (with wallet address and signature), and compatibility with DApp browsers and wallets. 

It will also modify its token negotiation mechanism. Hence, users can protect their digital assets and access blockchain services of numerous Decentralized Applications (DApps). 

MagicLink allows users to send and receive Cryptocurrencies and Non-Fungible Tokens (NFTs) to anyone 24x7x365. AlphaWallet is revamping this with MagicLink 2.0. Hence, investors can directly share tokens with others after incorporating specific terms and conditions (T&Cs). They can also set a minimum price and mention the expiry details. Crypto holders can also do this without knowing the wallet address of the recipient. 

Wrapping Up

Currently, supporting around 32 different blockchain networks and sidechains, AlphaWallet is growing rapidly. Moreover, the open-source wallet is also financially empowering Decentralized Autonomous Organizations (DAOs). Connect with us now to add a token to AlphaWallet. 

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Marketing is my soul mate and writing is my side kick. Using my writing skills to share the knowledge of app development and upcoming technologies.