Crypto wallets are exactly what they sound like. Just as a traditional wallet is used to hold your hard-earned money, crypto wallets are of great help to safely hold all the coins you have invested in.
Since the rise of crypto investing, the number of these wallets has been booming like a rocket. And why won’t they? These programs are just marvelous pieces of technology that are well-equipped to hold all the currencies in a single place. Also, learn about Waves of Digital Currencies by reading this article.
Speaking of their most popular types, the term crypto wallets generally refers to the white label crypto wallet. What are they and how do they work, all your questions are going to be answered in this single write-up.
A white-label crypto wallet is nothing but software developed by highly skilled developers. Big tech companies claim this software in exchange for a certain amount of payment and further rebrand it with their own company name.
And this is from where these wallets got their name “white-label”, since any company can put their name on the label. At their core, all these programs work the same, but come with different elements in their details.
As of now we expect that it must be clear to you that white-label wallets are pre-built products by developer companies, which are then sold to businesses to use them with their name on the label.
This is why it is called a white label since it provides the freedom to put your name on their product (just like white-labeling in any other industry).
All of these functions are done in exchange for some money. Developing companies have their own rates fixed for their products. Interested businesses go forward with their deals and label their names.
White-label crypto wallets are famous in the market for a reason. Behind its popularity, there are various immaculate features that somehow help enterprises in different aspects:
Security is the primary concern for these programs. A white-label crypto wallet is nothing but a safe space for your coins so that there would be no risk of hacking or theft of your crypto coins.
To ensure this level of safety, these wallets incorporate features like two-factor authentication (2FA), private keys, biometric authentication, Know Your Customer (KYC), encryption methods, and cold storage.
Deep down, a wallet is nothing but a software program. Thus, they are built with high effort and thoughts, in order to provide a seamless integrated experience.
Various designers and programmers provoke their thoughts to build a program that is both easy to use and smooth to operate.
There is no point in keeping a wallet if you cannot make payments. White-label crypto wallets not only work as a digital safe for your investments but also work as a means to exchange, buy or sell digital currencies.
As mentioned earlier, these wallets are carefully developed with highly skilled developers and designers. The core aim behind their efforts is to build a program that is easy to use and can be integrated whenever they are needed.
Ultimately, these developers or programmers aim to develop a coded wallet that is both compatible and easy to integrate with other programs.
Obviously, there are numerous benefits that enterprises enjoy. Here is the list that enlists some of those benefits:
All in all, white-label crypto wallets are something that modern businesses of this industry crave for. These wallets are reputed for providing immense security, mixed with a highly integrated and super-responsive UI-UX.
Finally, there are many benefits of using a white-label crypto wallets, cost effectiveness and security being the primary of all. Some other benefits include customisation according to the needs, easy and quick deployment as compared to the in-house developed ones.
