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.
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.
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:
These are the main advantages of using an SDK as opposed to building a wallet from scratch:
Now let’s see the best products currently on the market.
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:
It is also thoroughly documented for easier integration and debugging.
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:
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.
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:
The differences are under the hood and are invisible to the end-users.
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:
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:
It also has thorough documentation and API reference.
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:
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:
Liminal also has a self-custody wallet product, interoperable with their SDK.
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:
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:
The integration list is especially impressive, and includes not just blockchains and tokens, but also accounting, anti-fraud, and token issuance solutions.
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:
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.