Growing Adoption of White Label Multi Cryptocurrency Wallet

Bitcoin and other cryptocurrencies are gaining global adoption despite the unregulated framework of some countries. However, as cryptocurrencies are gaining traction, governments are considering regulating these digital currencies. With the advancement in regulations and increased adoption of cryptocurrencies, the market has witnessed an increase in demand for cryptocurrency wallets.

[sc_fs_multi_faq headline-0=”h3″ question-0=” Is this the right time to develop my crypto wallet?” answer-0=” The increasing global adoption of crypto wallets signifies that it is the right time to build crypto wallets. Given that the number of crypto wallets is anticipated to reach 200 million by the year 2030, those who act now are more likely to reap profits in the future.” headline-1=”h2″ question-1=” Which type of crypto wallet should I develop?” answer-1=”A mobile wallet makes the best option for development. This is because mobile wallets are the most convenient to use and the majority of people access business products and services on their mobile phones. It means that developing a mobile wallet can increase your chances of better user acquisition.” headline-2=”h3″ question-2=” How is the crypto market performing in terms of wallets?” answer-2=”The crypto market is favorable to crypto wallets. The number of crypto wallet users has increased from 30 million in 2018 to 40 million in 2019 and the number is expected to increase in the future.” count=”3″ html=”false”]

Global adoption of cryptocurrency wallets

The number of crypto wallet users is increasing with each passing day. A study by Statista reveals that the actual number of users of blockchain wallets in the world has crossed 40 million. The growth of wallet users has been enormous. From over 10 million users in the year 2016 to 20 million users in the following year, the growth has been almost double. By the year 2018, wallet users reached the number of 30 million and it took only six months further for crypto wallet users to reach a whopping number of 40 million. The growth has not been limited but instead, it is picking up at an accelerating pace. With a white label multi cryptocurrency wallet coming into place, more and more wallet addresses are being created. For instance, it was reported that there are over 21 million wallet addresses just for bitcoin, meaning that 50% of wallet users are investing in bitcoin.

It has also been widely recognized that Samsung and Opera have publicly shown their inclination towards the crypto wallet. Samsung’s new version Galaxy phone will have an integrated crypto wallet and will also provide some free tokens to phone users to prompt the individuals to start trading in the crypto market.

But, the major question is – which is the best type of wallet for development. So let us further comprehend various types of crypto wallets and which one you should prefer to develop.

Categorization of crypto wallets

Majorly, cryptocurrency wallets can be divided into five main types, which are defined as below:

• Hardware Wallet: These are offline wallets that store their crypto coins or tokens in a USB-like device. For sending and receiving through this wallet, it needs to get plugged with the internet.
• Paper Wallet: Earlier, paper wallets were considered one of the best ways to store cryptocurrencies. In this type of wallet, the details are printed on a piece of paper as a physical document. The transactions can be processed through either inserting the private key or through a QR code scanner.
• Mobile Wallet: A mobile wallet is the most convenient and handy form of wallet. Moreover, since masses today access business products and services using a mobile, building a mobile crypto wallet could pave the way for increased user acquisition.
• Desktop Wallet: A desktop wallet serves as a web wallet installed on a desktop. You need to have maximum security features integrated into your system such as antivirus and a strong firewall to ensure the security of your desktop wallet.
• Online Wallet: These are the hot wallets signifying that these are connected to the internet. Online wallets can be accessed through various search engines.

Best multi cryptocurrency wallet to develop – Mobile Wallet

While developing your crypto wallet, mobile wallets stand tall on all the parameters. These wallets are easy to use and most convenient to carry to any marketplace. Users can purchase real-world goods and services directly through mobile crypto wallets. It enables users to conveniently transact their cryptocurrency rather than just storing them in a safe place.

Business Opportunity in crypto wallet development

There is an immense business opportunity in the white label multi cryptocurrency wallet. Research conducted by Deutsche Bank says that crypto wallets have the potential to reach a total number of 200 million by the year 2030 to address the growing demand of crypto users. Currently, there are just 50 million wallets in existence and the graph is anticipated to show a steep high in the development. Thus, all those who are considering developing their crypto wallet should act now to edge out the competition.

Develop your cryptocurrency wallet with Antier Solutions

Antier Solutions is a leading cryptocurrency wallet development company that helps businesses in developing their crypto wallet. We specialize in custom wallet development and provide a turnkey solution for the best multi cryptocurrency wallet, fortified with market-leading features, which can be launched under any brand name in just 3 weeks. We integrate our crypto wallets with the maximum security and advanced market features such as two-factor authentication, multi-signature, biometric authentication, mnemonic phrase, password-protected access and many more.

View a free demo of our white label multi cryptocurrency wallet or connect with our domain experts to share your business needs.