Developing a crypto banking app

When my team and I decided to launch a neobank, it became clear to us that the traditional path of developing from scratch could take too much time and resources. We started looking for solutions that would speed up the process and came across the article Dashdevs company. It was a real discovery. The article explains how to use platforms and APIs from external vendors to create a neobank. This allowed us to choose the right partners, minimizing risks and development costs. It was especially useful to understand how to work with ready-made solutions to ensure the flexibility and security of our product. We significantly accelerated the process and were able to offer users high-quality and reliable services. If you also want to create a fintech product, I recommend reading this guide - it will really help you avoid many mistakes at the start.

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I have also recently looked into this issue and noticed that many crypto banking applications actively implement sanitized infrastructures to minimize the impact of external threats, for example, through the use of containerization (Docker) and virtual machines to isolate applications and servers. It seems to me that given the constant security threats, it is important to build protection not only at the data and key level, but also at the level of the infrastructure itself.

The topic is really interesting, and banking crypto solutions are probably one of the most serious and difficult tasks that developers face. Security should be thought out at every level of the application: from storing user data to conducting transactions and protecting against external threats. When it comes to storing cryptocurrency assets, the first thing to note is the keys. Private keys are what protect access to user funds, and if they are compromised, all funds will be at risk. Therefore, two approaches are most often used to safely store keys: hot wallets and cold wallets. Hot wallets (they are connected to the Internet) are convenient for quick access to funds, but their security leaves much to be desired unless additional security measures are used. For example, to improve security, you can use multisig, when a transaction requires not one, but several keys. This helps to avoid losses if one of the keys is compromised. On the other hand, cold wallets (not connected to the Internet) are considered the safest option for storing large amounts. They can be integrated with hardware devices such as Ledger or Trezor, which provides an additional layer of security. Many crypto banking apps and exchanges use a hybrid approach, combining hot wallets for daily transactions and cold wallets for storing large funds.