The search for a secure and audience-centric wallet has reached a fever pitch in the dynamic crypto world. Amid burgeoning demand, a White Label crypto wallet has become an attractive avenue for businesses and individuals. Before commencing the journey, understanding the ins and outs of the financial commitment linked with white-label crypto wallet development is vital. Besides, there is a need to unveil the White Label crypto wallet cost.
A White Label crypto wallet is a turnkey solution that can be rebranded for business needs. This approach saves enterprises precious time and resources invested while developing a wallet from scratch.
According to Future Market Insights, the wallet market will have a US $15.05.9 Million market revenue in 2023. It is expected to reach US $3675.4 Million by 2033. This means the segment will allow crypto enthusiasts to tap into the Million Dollar segment and boost their earning potential.
A White-Label crypto wallet boasts numerous advantages that have been discussed in detail as follows:
Advanced security features such as two-factor authentication (2FA), biometric authentication, password-protected access, and others are added to White Label crypto wallet to protect it from cyber-attacks.
In the case of the public blockchain, one can view all the transactions as they are recorded on the ledger. This minimizes fraud activities and increases transparency.
A White-Label crypto wallet is a standalone platform. You can store several cryptos, with each one having its own address.
Let us explore the features of a White-Label crypto wallet:
Companies having Blockchain development expertise fall under three main types. These charge enterprises based on team size and expertise.
1. Small Scale
2. Mid Scale
3. Large Scale
1. Small Scale
The small scale has a team of 10 to 30 experts and has just entered the industry. Their costs are lower than other enterprises as their portfolio is in development.
2. Mid-Scale
Mid-scale is an excellent choice for those developing a White label wallet for the first time. They have a team of over 50 employees and devise the cost estimate based on your requirements.
3. Large Scale
Large-scale firms have a team of over 500 employees. Consulting a large enterprise will be a suitable course of action if you want to tap a specific audience. Big companies offer you a dedicated team of professionals who will deliver quality solutions in the least time.
The feature set you wish to include impacts the White-Label crypto wallet cost. Wallet with standard features such as sending and receiving will cost less. In contrast, wallets will increase as groundbreaking features like multi-currency support, staking, decentralized exchange integration, and more are included.
Digital currency must be protected from hacks and breaches. Therefore, the wallet must incorporate high-graded security protocols like multi-factor authentication, encryption, and biometric authentication to ensure the assets are safe.
Regulatory compliance is a crucial aspect of the development cost. Compliance features like Know Your Customer(KYC) & AML (Anti-Money Laundering) significantly contribute to the overall cost.
The wallet’s success relies on its design. Investing in an attractive design for a seamless user experience might escalate the development charges.
Including multiple cryptos or Blockchain requires in-depth work, which affects the development cost to a great extent.
Businesses can customize the wallets per their logos and themes. The level of customization you perform hugely impacts the White-Label crypto wallet budget.
The cost of developing a White Label crypto wallet is complicated. It’s better to see it as an investment rather than an expense to simplify the process. Also, a well-designed and feature-rich wallet can give your business a competitive edge, attract users and foster trust among the crypto community.
Developing a wallet from scratch usually takes 10 to 12 months. This can be quite time-consuming, allowing start-ups to build a White-Label crypto wallet. It is a customized solution that takes a week or two to develop.
Antier is a trailblazing wallet development company. Our passionate and highly-experienced wallet development team provides ideal white-label wallet, both custodial and non-custodial, at affordable costs. We have developed over 100 projects after facing several challenges. Our innovative solutions make us the top crypto wallet development firm. Our experts keep an eye on current trends and incorporate them to give you a competitive edge in the industry. Develop a quality solution and boost your revenue by contacting us today!
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