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How does the bitcoin wallet business suit entrepreneurs in the crypto field?


Peter_Quint
Posts: 16
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(@peter_quint)
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Ever wondered that a cryptocurrency wallet can be a great business for entrepreneurs to launch in the Blockchain space? Yes, many entrepreneurs are willing to dive into the cryptocurrency field with an intriguing business model. As it possesses a huge potential for the entrepreneurs to launch a crypto business.

Speaking of which, starting a Cryptocurrency exchange, cryptocurrency payment gateway, cryptocurrency wallets are some of the top crypto-related businesses for you to easily catch up. But choosing a suitable business requires a peace of mind in this crypto. Let me clarify something about choosing a business to launch in the crypto space. 

In 2019, one of the famous crypto exchange Binance platforms was hacked and stole 7000 bitcoin(cryptocurrency) worth $40 million. From that incident, many of the users prefered third-party wallets that provide more security for only storing cryptocurrencies. Metamask and Trust Wallets are well-known third-party crypto wallets that are successful in this business. Well, it seems people from the crypto space are demanding a secure and efficient platform to store their cryptocurrencies. In this regard, I would like to ask you to launch a cryptocurrency wallet. Before digging deep into the development, let us know what a crypto wallet is.

What is a cryptocurrency wallet?
Cryptocurrency wallet is a software that enables users to store, transact, and exchange digital assets(cryptocurrencies) that work on Blockchain technology. Most of the users want to store their cryptos securely evading hacker invasions which is the sole purpose for you to launch a crypto wallet business.

How launching a cryptocurrency wallet can be a profitable business?
There are numerous ways through which a cryptocurrency wallet owner(entrepreneur) can make profit. Launching a cryptocurrency wallet can help you earn the following fees. 

i) Transaction cost-  Once a transaction is occurring, the owner could earn profits by acquiring some percentage from funds which are being transacted. Transaction fee is applicable for both sides(sender and receiver).

ii) Withdrawal fee - Owner gets some percentage from the fund which is being withdrawn from the wallet to the bank accounts.

iii) Staking- Process of holding users’ cryptocurrencies. If a certain time limit exists, the owner could fix some percentage of the staking fee for holding users’ cryptocurrencies. 

iv) Advertisement - Google Adwords/affiliate could bid for some particular space within a wallet. The owner could fix the fee for ads promoting into their wallet.

v) Coin listing fee - Many wallets don’t accept all coins which are created on the crypto space. The owner will get a commission for listing new cryptocurrencies into their wallet from coin inventors. It is sort of promoting cryptocurrency and increasing the liquidity of a currency. So, the owner gets good revenue from coin listings.

These are all the financial benefits you get from launching a cryptocurrency wallet. This is what urges many startups and entrepreneurs to launch a cryptocurrency wallet.

How to develop a cryptocurrency wallet?

Entrepreneurs can develop a crypto wallet from an open-source or they can hire a cryptocurrency wallet development company. Provided the company should work on Blockchain based projects. This will ensure your cryptocurrency wallet with maximum security. While choosing a crypto wallet development company, you have to analyze the  company’s reputation and their portfolios. You also have to work on the features and development perks they are providing. I suggest you go with “Zab technologies” which is one of the finest cryptocurrency wallet development companies that utilize blockchain technology for crypto wallet development. 


Contact the Blockchain experts via,

Mail-id: [email protected]

Whatsapp: +91 77085 29089

Telegram: https://t.me/Zabtechnologies

skype: live:contact_86571

 

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