As crypto adoption increases, cryptocurrency pioneers and developers are rapidly looking for ways to simplify the use and operation of cryptocurrency-associated technology. This has led to the development of white label crypto solutions, an efficient and user-friendly alternative to open-source options. The widespread use of white-label crypto solutions has opened a gateway of opportunities for both small business providers and large startups. Here’s all you need to know about the benefits of White label crypto wallet development for your business.
What is a cryptocurrency wallet?
A cryptocurrency wallet is a device that is a tool, which can either be a cold physical storage medium or a software program that facilitates cryptocurrency transactions by storing a unique private or public key. With over 25,000 cryptocurrencies available, the crypto wallet is saddled with the responsibility of ensuring these digital assets are used. The technology behind a standard crypto wallet involves complex smart contracts that automatically sign, encrypt, and approve transactions, and thus require high technical know-how in encryption and coding.
What is a white-label cryptocurrency wallet solution?
White-label solutions exist to simplify the complex development of blockchain solutions for prospective users. They develop pre-made DeFi solutions, including crypto wallets and other crypto solutions, under their brand or label name. White label crypto solutions customize unique programs under their name or brand and deploy custom-built solutions for an active market. Usually, this target market is small and large-scale business owners that require crypto services to satisfy their end-consumers.
How does a white-label crypto wallet work?
White label crypto wallet development work by developing and perfecting crypto wallets and other additional DeFi solutions. This process involves the combined use of highly efficient hardware technologies or cloud-based hosting to develop, store, and host these pre-built solutions. The solutions are then marketed, offered to the public, and licensed under the brand’s name. White-label crypto wallet development also facilitates the seamless integration of business owners into the pre-built solutions; in return, they charge a certain transaction fee.
Benefits of Using White-Label Cryptocurrency Solutions
As of 2022, the global White-label crypto wallet development market is estimated to be approximately USD 8.42 billion, and this is expected to reach USD 61.87 billion in 2030. The benefits of a white-label cryptocurrency wallet to other businesses include:
Cost-effective: One main reason for the massive adoption of White-label crypto wallet development solutions is that they are cost-effective. For small business owners on a budget, it is quite difficult and expensive to build and maintain a fully functional crypto wallet. Instead, these businesses opt for pre-built white-label solutions to reduce operational costs and accelerate financial transactions.
Immediate product deployment: As the world goes digital, there is a need to develop solutions that meet the rapid market. White-label crypto wallet development solutions allow for the quick deployment of payment solutions for these business owners.
Versatile customization: These white-label crypto wallet development solutions offer more than a crypto wallet; they also offer customized solutions such as virtual PoS payment, crowdfunding, donation, tax, and other financial tools. This versatility allows business owners to choose from different solutions that align with their branding.
Multiple currency support: White-label crypto wallet development solutions allow for multiple support of both fiat and cryptocurrencies. Multiple currency support allows business owners to accept different currencies, catering to their customer base across other countries.
Features of a White Label Crypto Wallet
A white-label crypto wallet offers multiple benefits aside from holding the private or public key. Some of the features of a white-label crypto wallet include:
Strict security: Security is a key feature in every white-label crypto wallet, as it is important for safeguarding the financial details of prospective consumers and business owners. White-label crypto solutions employ different security techniques, including two-factor authentication (2FA) and biometric authentication, encryption, and Know Your Customer (KYC).
Friendly user interface: To ensure navigation across the wallet, white label solutions employ strict user interface techniques. These techniques in life include the use of the right font to ensure visibility, a linear gradient to highlight contrast, and a thorough user survey before prototyping.
Multiple transaction features: White-label crypto solutions offer in-built transaction features to optimize business processes. Alongside the mandatory crypto wallet, other included solutions found are transaction history, QR codes, cryptocurrency conversion, automated recipes, and more.
Cross-platform integration: newly developed white-label solutions facilitate cross-platform transactions. With the sudden rise in blockchain networks, crypto wallets can now support multiple blockchain networks to facilitate transactions between users using different blockchain wallet providers and blockchain networks.
Top Crypto White Label Platforms for Your Business
There are over 500 White label crypto wallet development organizations that offer similar services; however, only a few of these platforms are heavily patronized by business owners for their efficiency, and they include:
- PTPWallet
- Coinbase
- HollaEx
- Merehead
- Antier Solutions
- Coinsclone
Why Your Business Needs a PTPShopy White Label Cryptocurrency Solution
PTPWallet is a fast-rising crypto White-label crypto wallet development catered to business owners looking to incorporate crypto transactions into their eCommerce. It is fully equipped with the right resources and optimized to cater to a large customer base.
PTPWallet caters not only to business owners but also to other cryptocurrency exchanges looking to facilitate crypto transactions such as depositing, withdrawing, and trading both cryptocurrencies and fiat currencies. Non-crypto businesses like banks, private financial institutions, and even FX exchanges are in need of a customized financial solution.
The backend infrastructure of PTPWallet consists of high-performing services and databases to process multiple services. The platform is also highly customized with a wide range of features; the color scheme and user interface align with the company goal of prompting visibility and offering the best services.
PTPWallet is also highly secured and employs numerous security procedures, including encryption, multi-factor authentication, and KYC, without compromising the anonymity of the users. These security measures protect business owners’ information from hacks.
When it comes to transaction fees, PTPWallet is one of the most cost-effective options for business owners looking for an efficient crypto white label without spending a fortune. PTPWallet charges <1%, allowing users to earn more without incurring high operation costs.
It supports over 400 cryptocurrencies, which is a lot compared to other white-label solutions in the crypto space. This versatility allows users to pay in any cryptocurrency of their choice without experiencing any hindrance.
