What is a white-label Bitcoin wallet?
Cryptocurrency wallets are known throughout the “digital” community for their high-security standards. They are typically protected with multi-level encryption as well as 2FA and whitelisting options for their clients. A private key is required to send and receive money using these wallets.
If you have decided to create your own single or multi-currency wallet, we are pretty sure that you are facing a wide variety of problems. These difficulties can be easily avoided. You just need to go for a white-label solution instead of building a project from scratch.
However, to maximize the potential of your crypto wallet, you need to produce more than just a platform for storing and transferring funds. Your potential customers expect a certain level of service from crypto wallets, and a management system is necessary to integrate within the website. The most prominent solution among novice runners is to choose the White Label solution. Here you can find out why you should try it.
What is a wallet tag solution?
White Label is a turnkey solution that allows you to start a cryptocurrency wallet quickly. In simple words, a white label for crypto wallets is a system to get a ready-to-use solution. It can be compared to a franchise program. There is no need to buy a license, do a design, organize or maintain the server structure 24/7. Everything is already included in the White Label solution.
In short, white-label solutions can help you use a unique brand for your business. Therefore, you can offer a wide range of tools and services without building your infrastructure or technology yourself. As a result, you can pay close attention to increasing brand awareness and making your wallet popular with your potential customers.
In addition, we can also highlight the advantages of the white label cryptocurrency wallet:
Save time. You just need to work with the platform provider and establish the commercial terms of the deal.
Focus on what you do best. For example, improve your marketing approach. This out-of-the-box solution will save you a lot of financial resources and human capital.
Get started quickly and easily. It only takes a few weeks once you choose to run your new white-label site until you are up and running, then you should focus on promoting your wallet within the crypto community.
By using a solid platform, both you and the network benefit. There are advantages to both extremes. Among the benefits are the size, number of players and assets of all brands.
A wallet for digital currencies: what is it?
Cryptocurrency wallets provide users with a digital solution to securely store money and manage digital currencies. These online wallets provide customers with the ability to send and receive coins, save and spend, and also exchange coins.
Unlike a standard wallet, which can hold real cash, crypto wallets do not technically store your funds. These holdings live on the blockchain, but can only be accessed using a private key.
Multi-level encryption is typically used to protect cryptocurrency wallets, which are renowned for their high level of security. To use the funds in such a wallet, the user must have the correct public and private key combination.
Your keys prove that you own your digital money and allow you to make transfers. Customers cannot access their money if they misplace their private keys. That's why it's crucial to keep a secure wallet or use a trusted wallet provider.
Using a trusted app provides easy access to funds converted into digital assets. Clients can:
Manage all your digital assets in one safe place;
Take your private keys under control;
Send and get cryptocurrency 24/7, from anywhere, anytime, as long as they have an internet connection;
Interact with usernames instead of long hexadecimal “public key” addresses;
Explore dapps (decentralized financial applications);
Buy on websites that accept digital assets.
What is a white-label wallet?
All we can say is that it is an excellent product for all types of digital wallets. So, we can highlight these options:
The wall can be easily customized with your favorite accessories.
The wallet can incorporate instantaneous transfers.
In addition to multiple layers of security, you can add more values depending on your preferences.
The wallet can be easily deployed with popular trading platforms and crypto exchanges.
Additionally, it is possible to receive updates, support and maintenance services for the wallet.
Pros
Cross-border transfers. Cryptocurrency wallets are not restricted by borders, allowing investors and traders to share and earn cryptocurrencies around the world.
Risk management is accessible. Multi-cryptocurrency wallets help users identify fake wallet addresses and automatically deny duplicate financial transactions.
It's easy to customize. Individuals and businesses can customize the wall with only the necessary options and services according to their preferences.
There are several layers of security available. Crypto wallets are built-in with higher security levels, making it easier for even beginners to secure their funds.
Purpose-built. Crypto wallets are accessible in different types, each with different purposes. Users are free to select the wallet of their choice.
Cons
Limited control of the website. A ready-to-use platform with minimal design tools, and little control of the wallet's appearance.
Access to CRM, customer retention and database is limited. The systems are not under your authority or control. This can be a problem when you have a database of players.
Loss of income as the platform is taking 40% of the net income they earn from players for themselves. At first, you have very little power to negotiate percentages with the platform.