Cryptocurrencies have revolutionized the finance world and have become an alternative to traditional banking systems. Crypto wallets are one of the primary components of the crypto ecosystem that is used to send, receive and hold them securely. Crypto wallets are of different types, among which white label crypto wallet has become the preferred choice of users.
Introduction to White Label Crypto Wallet
A white-label crypto wallet is a ready-made and customized solution that businesses can launch under their brand. These wallet solutions are developed by crypto exchanges, payment processors and other financial agencies who want to create a branded wallet without devoting the time to develop a wallet from scratch. These wallets offer numerous features like multicurrency support, security measures, transaction history, user management etc.
Why Should Enterprises Invest in a White-Label Crypto Wallet?
Below is the list of reasons that indicates why enterprises must invest in a white label crypto wallets:
*Customization
The wallets can be customized as per the business requirements, which means they can be launched under their colour scheme, logo and design elements. This makes the brand widely recognized and offers a consistent brand experience.
*Time & Budget Friendly
Developing a wallet right from its inception is time-consuming and costly. White-label wallets help businesses save time and resources by transforming the existing wallet into a customizable solution. It saves costs and minimizes the market launch time.
*Security
While developing a white label wallet, the development teams incorporate practices to help users have a safe wallet experience. This shields the wallet contents from hacks and breaches.
*Flexibility
These solutions are highly flexible and can be included in cryptocurrency exchanges or payment gateways. This helps businesses offer an exhilarating financial experience to the users.
Cost of Developing a White-Label Crypto Wallet
The cost of developing a white-label crypto wallet depends on numerous factors like features and functionalities, customization and the reputation of a third-party provider. These factors have been discussed in detail as follows:
*Features & Functionalities
The wallet’s complexity, features, and functionalities affect the price of the white-label wallet. Wallets offering multicurrency support,two-factor authentication, cold storage and multichain support are costly compared to the ones with basic features.
*Customization
The customization level has a significant impact on the wallet cost. Extensive customization would increase the wallet development cost.
*Provider’s Reputation
The reputation and credibility of the third-party impacts the cost to a great extent. Trusted and reputed providers will charge exorbitant compared to unknown ones.
*Support & Maintenance
The type of support and maintenance the provider offers greatly impacts the pricing. Professionals offering technical support occasionally, wallet updates and maintenance charge more than those offering limited or no support.
In Conclusion
White label crypto wallet has become the preferred choice of enterprises who want to launch a branded solution. Apart from this, different parameters and providers must be compared to deliver a robust and scalable solution. For technical assistance, you can consult Antier, which has been developing enterprise-oriented wallets for almost ten years with a proven record of developing over 250 wallets. Get a free consultation from the subject matter experts today!
