Our recent market analysis shows the total crypto wallet development cost can range from $15,000 for basic features to $200,000 for advanced solutions. In this article, we’ll dive into what drives these costs and how to make smart development decisions that won’t break the bank.
Detail cost-breakdown of crypto wallet development
Cost breakdown by complexity
1. Simple crypto wallet app
Let’s suppose that you’re planning to develop a basic hot wallet supporting 3 popular cryptocurrencies with 2FA security on both iOS and Android. Then, what is the crypto wallet development cost involved? We’ve got you covered right below!
Total estimated cost: $15,000 – $30,000
Duration: 2-4 months.
Estimated labor costs:
| Role | Monthly cost per person ($) | Duration (Months) | Number of people | Total cost ($) |
|---|---|---|---|---|
| Mobile Developer | 2,000 – 3,000 | 1.5 | 2 | 6,000 – 9,000 |
| Backend Developer | 2,500 – 3,500 | 1 | 1 | 2,500 – 3,500 |
| UI/UX Designer | 1,000 – 1,500 | 1 | 1 | 1,000 – 1,500 |
| Security Specialist | 1,000 – 1,500 | 1 | 1 | 1,000 – 1,500 |
| Total | 11,750 – 17,250 |
Feature costs:
- Multi-currency support – Using pre-built APIs with low cost: $2,000 – $3,000.
- User-friendly UI/UX – Basic interface with no advanced customization: $1,000 – $2,000.
- 2FA security – Integrating an open-source library: $1,000 – $1,500.
Total feature cost: $4,000 – $6,500.
Testing & QA
- Basic testing instead of comprehensive testing: $500 – $1,000.
Deployment & Maintenance
- Basic deployment without long-term maintenance package: $750 – $1,250.
| Total cost = Labor costs + Feature costs + Testing & QA + Deployment & Maintenance. |
So, the overall estimated costs can be:
| Category | Lowest cost ($) | Highest cost ($) |
|---|---|---|
| Labor | 11,750 | 17,250 |
| Features | 4,000 | 6,500 |
| Testing & QA | 500 | 1,000 |
| Deployment & Maintenance | 750 | 1,250 |
| Total | 17,000 | 25,000 |
2. Medium complexity crypto wallet app
Total estimated cost: $30,000 – $75,000
Duration: 3–6 months
Estimated labor costs:
| Role | Monthly cost per person ($) | Duration (Months) | Number of people | Total cost ($) |
|---|---|---|---|---|
| Mobile Developer | 2,000 – 3,000 | 3 | 2 | 12,000 – 18,000 |
| Backend Developer | 2,500 – 3,500 | 3 | 1 | 7,500 – 10,500 |
| UI/UX Designer | 1,500 – 2,500 | 2 | 1 | 3,000 – 5,000 |
| Security Expert | 2,000 – 3,000 | 1 | 1 | 2,000 – 3,000 |
| Project Manager | 2,000 – 3,000 | 3 | 1 | 6,000 – 9,000 |
| Total | 30,500 – 45,500 |
Feature costs:
- Multi-currency Support (5–10 currencies) – $2,000 – $4,000.
- User-friendly UI/UX with interactive design – $2,000 – $4,000.
- Integration of security features (2FA and KYC) – $3,000 – $5,000.
- Third-party API integration – $2,000 – $4,000.
Total feature cost: $9,000 – $17,000.
Testing & QA: Comprehensive testing across multiple platforms: $2,000 – $4,000.
Deployment & Maintenance: Basic deployment and maintenance for six months: $1,500 – $3,500.
Total estimated costs:
| Category | Lowest cost ($) | Highest cost ($) |
|---|---|---|
| Labor | 30,500 | 45,500 |
| Features | 9,000 | 17,000 |
| Testing & QA | 2,000 | 4,000 |
| Deployment & Maintenance | 1,500 | 3,500 |
| Total | 43,000 | 70,000 |
3. High complexity crypto wallet app
Total estimated cost: $90,000 – $200,000
Development time: Over 6 months
Estimated labor costs:
| Role | Monthly cost per person ($) | Duration (Months) | Number of people | Total cost ($) |
|---|---|---|---|---|
| Mobile Developer | 2,000 – 3,000 | 5 | 3 | 30,000 – 45,000 |
| Backend developers | 3,000 – 3,500 | 5 | 2 | 30,000 – 35,000 |
| UI/UX Designers | 1,500 – 2,000 | 3 | 2 | 9,000 – 12,000 |
| Security Experts | 2,000 – 3,000 | 2 | 2 | 8,000 – 12,000 |
| Project Manager | 2,500 – 4,500 | 6 | 1 | 15,000 – 27,000 |
| Total | 92,000 – 131,000 |
Feature costs
- Support multiple cryptocurrencies (10+ coins): $5,000–8,000.
- Premium and custom UI/UX design: $4,000–6,000.
- Advanced security (2FA + comprehensive encryption): $4,000–6,000.
- Integration with DeFi wallets and NFT staking: $6 ,000–8 ,000 .
- Integration with external services (exchanges and APIs): $5 ,000–7,000 .
Total feature cost: $24,000–35,000.
Testing and QA:
- Comprehensive security testing across multiple platforms: $2,500 – $4,000.
Deployment & Maintenance
- Deployment on various platforms (iOS and Android) and initial maintenance for 6 months: $4,000 – $5,000.
Total estimated costs breakdown:
| Category | Lowest cost ($) | Highest cost ($) |
|---|---|---|
| Labor | 62,000 | 131,000 |
| Features | 24,000 | 35,000 |
| Testing & QA | 2,500 | 4,000 |
| Deployment & Maintenance | 4,000 | 5,000 |
| Total | 92,500 | 175,500 |
Cost breakdown by method of development
Aside from complexity, the method of development directly impacts the cost of creating a crypto wallet. There are two development methods: the white-label solution, also known as a pre-built solution, and custom development, which can be considered building the wallet from scratch.
White-label solution
- Cost: $15,000 – $50,000
- This option uses an existing solution that you can customize to meet your needs.
- Development time: Approximately 3 to 6 months.
Custom development
- Cost: $50,000 – $200,000+
- This has to do with building everything from scratch. It includes fully customizing features and security based on each requirement.
- Development time: Approximately 6 to 10 months.
Apart from complexity and the method of development, the cost of building a crypto wallet also depends on the type of wallet you choose. Hot wallets, which are connected to the internet, are generally cheaper but less secure. Cold wallets, which store assets offline, tend to be more expensive due to their enhanced security features. In comparison, hybrid wallets offer a mix of both but can vary widely in price.
Moreover, the vendor’s experience also influences the cost. As you know, experienced developers often charge higher rates but deliver better quality and security.
Other factors include tech stack, platform, etc.
Possible hidden costs when developing a crypto wallet app
Clearly, when building a crypto wallet, you must consider not just the obvious expenses but the hidden costs that can arise throughout the process. Below, we break down potential hidden costs.
| Category | Estimated cost | Detailed description |
|---|---|---|
| Security Audit | $5,000 – $15,000 | Security assessment and vulnerability testing. |
| Maintenance & Updates | $2,000 – $5,000/year | System updates and bug fixes |
| Licensing & Compliance | $5,000 – $20,000 | Fees for licensing and complying with financial regulations in various countries. |
| Advanced testing | $3,000 – $8,000 | In-depth testing for complex scenarios across multiple devices/platforms. |
| Transaction Costs | $1,000 – $5,000/month | Fees for blockchain network transactions or payment processing from third parties |
| Marketing & Promotion | $3,000 – $10,000 | Marketing expenses to attract new users and build the brand. |
How to optimize cost without compromising the quality of your crypto wallet
The strategies below have helped many businesses effectively manage their crypto wallet development cost. If you follow these, you can be one of them.
1. Define MVP feature
Start by identifying the Minimum Viable Product (MVP) features that are essential for your wallet. Focus on key functionalities like multi-currency support and strong security measures.
As soon as you launch the basic version, you can gradually add more features based on user feedback and needs. This way, you’ll see to it that you’re not spending too much upfront while still delivering a quality product.
Tips:
- Let user needs be the thing you consider. We suggest conducting surveys or interviews to understand what features users find most valuable.
- Use agile development practices to make adjustments based on user feedback.
- Keep an eye on which features users use the most to help decide what to work on next.
2. Use pre-built solutions
Instead of creating everything from scratch, how about taking advantage of open-source libraries or frameworks for common wallet functions? This can save time and reduce costs significantly.
Tips:
- Look for solutions that suit your wallet’s needs.
- Ensure the solutions you choose work well with your existing systems.
- Regularly check for updates on these solutions so that they don’t fail to be secure and functional.
3. Hire a cost-effective team
Consider outsourcing your development team to regions known for skilled developers at affordable rates, such as Vietnam or Eastern Europe. This can help you maintain quality while keeping costs down.
Make sure to thoroughly vet any team you hire to ensure they have experience in crypto wallet development.
Tips:
- Ask for references or case studies from previous clients to have a good idea of their reliability.
- Clearly let them know your expectations and communicate with them regularly.
- Don’t hesitate to discuss pricing and see if there’s room for negotiation without sacrificing quality.
Build a cost-effective crypto wallet solution with Synodus
We understand that you want a crypto wallet that’s affordable but still of good quality. We know exactly how to make it happen for you.
At Synodus, our developers charge between $16 and $30 per hour, which is cost-effective compared to the average rates for developers in other Asian and US regions. For example, as per our survey, in India, the average hourly rate is about $30 to $50. In North America, full-stack developers tend to charge much higher rates, from $81 to $100, and can go up to $160 per hour for experienced professionals.
So, why are our prices better? Because the cost of hiring developers in Vietnam, when converted to USD, is lower. Plus, with our fixed-cost model, there are no hidden fees—you’ll know exactly what you’re paying right from the start.
Better yet, 70% of Synodus’s developers are mid-level or higher, and it is recognized by Clutch.co as they rank us one a top blockchain company in 2023. With our 9 years of experience building crypto wallet projects, we will be delivered great results at a price that won’t break your bank.
One of our clients – Holay Pay (a new crypto wallet) – reached 3 million users within just 4 months of development. This success was thanks to our advanced technology, strong security solutions (like two-factor authentication and Vault encryption), and effective MVP versions with core features to test user needs, which helped avoid wasting money on unnecessary features. You can learn more about this project here.
We guarantee a crypto wallet that:
- Supports various cryptocurrencies
- Offers high security
- Scales well for growing user numbers
- Complies with cryptocurrency regulations and laws
- Integrates with multiple payment gateways
- Provides effective mobile, desktop, and web wallets
- Helps save on development costs (our white-label crypto wallet solutions are a great example)
Final thoughts
By building a crypto wallet in 2025, we mean careful planning and an understanding of the associated costs. If you focus on essential features, hire skilled developers from cost-effective regions to name a few, you can optimize your budget without sacrificing quality.
Synodus is dedicated to helping you over any related challenges, including the hidden crypto wallet development cost. With our expertise and commitment to delivering a secure and scalable wallet solution, you can confidently ace the crypto market. Reach out to us today!
