As more people opt for crypto, the need for more crypto-related products has increased. From web applications to crypto mobile apps and wallets, the cryptocurrency industry is churning out optimized solutions at an impressive rate. Cryptocurrency wallets have played a substantial role in cryptocurrency transactions, facilitating payment and encouraging sales and adoption.
Business owners are increasingly in need of white-label cryptocurrency solutions, particularly custodial wallets, for their benefit. This article highlights why choosing a white-label wallet is a genuine idea and why you need one as a business owner.
Custodial wallets
Custodial wallets are integrated cryptocurrency solutions that allow for transactions. They are software solutions that serve as a middleman during cryptocurrency transactions by securing your assets and safeguarding your private keys. Wallets come in different types, allowing users to choose whatever suits their taste. When selecting a wallet, security measures come into play to prevent hacks and protect your assets.
There is a need for more crypto wallets to match the ever-demanding customer base, as earlier mentioned. The world of cryptocurrency can get confusing, as it can be quite difficult to keep up with the technologies. With the increase in new cryptocurrency users, there is a need for a custodial, user-friendly waller that involves simple interaction. Hence, there is a need to combine Web2-like design with modern features to offer custodial wallets that cater to both new and experienced users. White-label custodial wallets are customizable software solutions that provide business owners with an easy and functional solution.
Benefits of White Label Custodial Wallet Development
White-label custodial wallets offer many benefits to business owners and service providers, and they include:
Budget-Wise: A white-label custodial wallet costs way less than self-developing a wallet from scratch. Crypto wallet development services are well-equipped with the expertise and resources to develop wallets for business owners.
Fast Launch: When pre-built wallet solutions are available, businesses can easily launch these wallets for immediate use.
Massive scalability: Custodial wallets are built to be interoperable and scalable enough to manage the operational needs of your business. Business owners are assured of prompt responses to their needs at all times.
Low-risk compared to self-development: The risk involved in using white-label custodial wallets is almost non-existent, as wallets are built to handle an impending technical issue. These wallets are also safeguarded with the best security systems to prevent breaches and protect your assets.
Increased adoption and traffic: Including custodial wallets in your business increases your earning opportunities in the long run.
Features a White Label Custodial Wallet Should Have
White-label custodial wallets are more than mobile pay solutions that employ internationally adopted payment acceptance networks; they are built with multiple features that make them functional for the end audience, and their research features include the following:
Asset support: white-label custodial wallets have built-in features that support and safeguard your assets. These features are designed to keep your private keys from the public, allowing you to use them easily for transactions and confirmation.
Interoperability/cross-platform compatibility: Modern custodial wallets are compatible with multiple devices, be they Android, iOS, or desktop. In addition, these wallets are also interoperable, as they have the ability of different blockchain networks to communicate and interact with each other. This feature allows for flexibility, as users can access their assets on any device and perform transactions on any on-chain network.
Secured payment: Transactions with cryptocurrency custodial wallets are considered more secure when compared to traditional wallets because there is no need for third-party confirmation. These wallets are also equipped with multiple technological mechanisms that enhance secure payments.
Seamless interaction: Custodial wallets are equipped with chatting services or portals that allow for easy interaction between users and merchants. This feature allows for better understanding and eliminates doubt during transactions.
Real-time conversion technology: Many custodial wallets have built-in exchange technology that converts cryptocurrency and its immediate value into fiat currencies or other cryptocurrencies. This feature removes the need for manual calculations during the buying, selling, and reading of crypto.
Multiple accounts: Users can manage more than one account on custodial wallets; this allows for effective control over your portfolio.
24/7 customer support: Custodial wallets are equipped with technical support facilities that assist users in managing technical issues even when they arise.
How Does a Business Owner Launch a Custodial Wallet App from a White Label Solution?
For many businesses, launching a white-label custodial wallet application for their customer base may initially seem difficult. However, results have shown that launching is a relatively straightforward process that you can do by following these steps:
Step 1: Study the custodial wallets and make note of the outstanding features that will attract customers. Ensure you focus on these features and how they can help you gain attention.
Step 2: Choose a good white-label wallet development service provider to develop these marketed features into reality. PTPWallet is a white-label wallet development service provider that converts mere ideas into reality.
Step 3: After developing the application, customize the wallet to improve its aesthetics and test the features of the application to ensure they work properly.
Step 4: Market the application to your customer base by employing multiple end-to-end marketing and community-building strategies before launch to prepare them.
Step 5: Even after you launch, continue marketing to bring in more users and retain the existing ones.
Conclusion: The Perfect White-label Custodial Wallet Development Solution
The benefits of a custodial wallet are endless, particularly for business owners, merchants, and service providers. To launch your business wallet into the cryptosphere, there is a need for a white-label solution to hasten the development process and also help manage the application. PTPWallet development services are the perfect white-label solution for business owners looking for a customizable wallet for their business. We have a wide variety of experts that will handle your every need. Learn more here.
