Making a crypto wallet from scratch is no easy feat. It requires the team of blockchain experts, as well as thorough security measures to protect the coins and NFTs inside. So it often ends up costing a lot of money and taking months to build. However, there is a way to drastically decrease these expenses – integrating an SDK. In this article, we will explain what it is and how it helps cut the initial investment, as well as list the 10 best crypto wallet SDKs on the market.

The state of crypto in 2023

Despite the ripples sent by the FTX breakdown and the Terra/Luna crash, the cryptocurrency market not only survived, but thrived. It is currently valued at 1.23 trillion USD, with Bitcoin taking up about a half of that. More than 420 million people use cryptocurrencies worldwide.

As the blockchain gold rush continues, there are plenty of businesses willing to sell shovels. The adjacent technology and services market is currently at a USD 7.4B valuation and is expected to grow by more than 66.2% annually. North America is spearheading the industry, with Asia Pacific following close.

Crypto wallet SDKs in a nutshell

An SDK (software development kit) is a ready-made module that can be integrated in an application and perform specific functions. In the case of a crypto wallet SDK, it can be a lot: 

• Accessing different blockchains
• Storing NFTs
• Crypto/fiat exchange
• Private key generation
• Multi-party computations
• AML/KYC compliance
• Compatibility with Web and mobile platforms
• Etc.

These are the main advantages of using an SDK as opposed to building a wallet from scratch:

• Lower initial investment. Buying a license to use an SDK is far cheaper than paying a team of programmers to develop everything from the ground up. This means you can allocate your budget towards other things (e.g. marketing and security audits). Moreover, if the business doesn’t take off, you will have risked far less money.

• Shorter time-to-market. Releasing your product faster means getting customers, cash flow, and feedback sooner. Moreover, it can help you gain an edge over slower competitors.

• Lower maintenance. The SDK provider is responsible for keeping their product up-to-date, compliant, and secure. This means your own team can focus on other aspects of your solution.

10 Best crypto wallet SDKs

Now let’s see the best products currently on the market. 

1. Coinbase

The second-largest crypto exchange also offers a non-custodial wallet SDK. It has a native Android and iOS versions, but it also supports Flutter and can be made into a browser extension. 

It has the following features:

• Multi-blockchain support
• Adding custom networks and tokens
• NFT storage
• Testnet faucets (browser extension only)
• Private key export
• Transaction outcome preview

It is also thoroughly documented for easier integration and debugging.

2. Spatium

Spatium is a mature startup whose product many consider the best crypto wallet SDK on the market. Spatium’s key difference is the implementation of multi-party computations, combining the benefits of both custodial and non-custodial storage. The wallet’s private key is separated into two or more “shards” and stored on the client (user’s device) and server. If the user wants to migrate to another app or close their account, the key can be exported. And to restore the key, it uses biometric authentication. As a result, no one can access the wallet except for the user, even if the device or server are compromised. Moreover, it soon will include a guarantor that will ensure the wallet’s safety even if Spatium goes out of business. 

This is what the wallet SDK features:

• Native Android and iOS versions, as well as a web version
• Multichain support
• NFT storage
• Ready-made UI
• Generation and synchronization of shards
• Public address generation
• Gasless transactions

In addition, Spatium offers a wallet cloud – an additional service that includes authentication, address info, crypto/fiat exchange rates, and other functionalities necessary for a modern crypto wallet. It simplifies third-party interactions that would otherwise have to be made from scratch. 

If you are interested in seeing how it works, contact us and book a free demo.

3. Venly

Venly specializes in all things blockchain. Their product line includes a reliable crypto wallet, available as a widget or via API. The functionality is mostly the same for both versions:

• Create Wallets for your users
• Retrieving the native balance of these wallets
• Retrieving the (non-)fungibles (ERC-1155, ERC-721 and ERC-20) of these wallets
• Performing transfers of native and fungible tokens on these wallets
• NFT-transfers
• Contract calls
• Signing messages with these wallets
• Importing/exporting wallets

The differences are under the hood and are invisible to the end-users.

4. Fireblocks

With over 130M wallets and over USD 4T in transactions, Fireblocks is one of the premier providers of crypto wallets as a service. It offers SDKs in JavaScript and Python, as well as a REST API that the developers can interact with. 

Fireblocks has the following functionalities:

• Hot, warm, and cold wallets
• MPC protection
• Role-based access
• Gas station
• AML/KYT compliance

5. Cryptoapis

The aptly named Cryptoapis provides a host of software components and services for Web3 applications. This includes a solution for creating crypto wallets under the brand Vaultody. It is an advanced product with many features: 

• Hot and warm wallets
• Multi-party computations (MPC)
• Automation
• Approval chains
• Hardware enclaves
• AML/KYT integrations
• Freeze wallet/Working hours

It also has thorough documentation and API reference.

6. Kryptogo

Kryptogo started out offering due diligence software based on blockchain technology, but then branched out in other DeFi offerings. Today it has a B2C crypto wallet app, as well as a wallet-as-a-service product. This is what it includes:

• Multi-chain support
• Payment management system
• Flexible UI
• NFT storage
• Multi-party computation
• Asset management
• KYC/AML

7. Liminal

Liminal offers a variety of blockchain-related products for regular users and businesses alike. This includes a wallet API and SDK (in JavaScript and Typescript). The SDK, however, is only server-side. This is what it allows you to do:

• List all wallets, including hot Wallets
• List wallet balances and transactions
• Generate addresses hot wallets
• Access Public Keys of addresses
• Access HSM devices
• Create and sign transactions
• Monitor transaction status

Liminal also has a self-custody wallet product, interoperable with their SDK.

8. Magic

Magic offers two versions of their SDK, similar in their functionality. The first is the plug-and-play option, the second is a more customizable white label one. Unlike others on this list, it focuses on access control and authentication. This is what it offers:

• Authentication without a seed phrase
• Email collection
• Transaction signing
• Wallet widget
• Fiat on-ramps
• Customizable UI

Magic has native SDKs for iOS and Android, as well as a version for React Native (currently in beta).

9. DFNS

DFNS puts an extra emphasis on the security of its offering. Its official website proudly lists a number of completed and ongoing penetration tests and audits to show this commitment. DFNS offers a Web3 API and a Typescript SDK to make working with it easier. Here’s what it can do:

• Authentication without a seed phrase
• Wallet creation
• Role-based access
• Multi-chain support
• Over 1000 integrations
• Testnet

The integration list is especially impressive, and includes not just blockchains and tokens, but also accounting, anti-fraud, and token issuance solutions.

10. Sepior

Sepior is a Denmark-based provider of secure infrastructure for Web3 projects. Its product line includes various solutions for storing and managing digital assets: wallet creation, key management, MPC for existing wallets and more. For this list, the most fitting product is Sepior Advanced MPC Wallet. This is what it is able to do:

• Wallet creation (hot/warm/cold)
• Multi-layered MPC
• Access and transaction policy management
• Flexible quorum approvals
• Support for high-frequency trading wallets

Conclusion

There isn’t a product that could be called the best crypto wallet SDK. All of them differ in their feature sets, pricing, support quality, etc. Test a few options and see what works for your business goals. And if you need help with that, contact us.