Topic: How free crypto wallet devs make money ? - page 2. (Read 329 times)
Thank you for your answers, even though we don't really know. Because in the case of crypto wallets, the devs have quite a responsibility in terms of security. It's not really the same level of responsibility as a bug on candy crush ... So what's going to happen with Atomic? Who's going to reimburse users ?
With this Atomic wallet hack, I have a lot of questions. For example, how do free wallet developers make money? It's probably a naive question, but in the end, safety also depends on the reliability of the team, and they're not going to work for free.
If we look at it, it is really an interesting question, I myself really does not know but I do heard that some developers are able to earn through sponsorship. Others were paid by a company that took interest on their products and pay them to continuously develop the software. While many were leaving on the donations of people who wanted to give back due to the help of their software. Aside from that these developers can also offer other services where they can earn money. Since they have proven their capability on their wallet creation, they can easily convince company that requires services of their expertise. These developers can also introduce premium services for users that wanted advance features this way developers cam get subscription payment on their wallet.
Most free wallets have ads or some kind of partnership with exchanges , like Coinomi wallet.
It is true that wallet developers can gain from ads, but I have only noticed Mycelium wallet to have ads, others that I have tested out bet did not have ads. Both bitcoin and altcoin wallets. Are there other reputed wallets with ads? In my opinion, it is not good to recommend such wallet. Or what do you think? I thought Coinomi used to have ads, but it doesn't anymore as i didn't see one now in my mobile. I use Coinomi (I know it is not the best, but just carry a few 50-100 usd in my phone)
Personally, I wouldn't care if some ad show up from time to time in a good mobile wallet. I just want some wallet which allows me receive any coin/token from the main blockchains easily, to transfer money fast.
Holding some cryptocurrencies, specially bitcoin, when travelling abroad has been proven be useful for me in the past. Sometimes international bank transfer may take a long time to get completed, and bitcoin is way cheaper and faster
So how does Instagram make money? From it's userbase. Similar strategy is used in any *free* product. You are the money for them, the more the userbase, the more information they have and the better sponsors they can get for their product, simple as that. In case of Crypto Wallets, it's maybe that they can advertise a big Crypto coin without looking sus? IDK.
No it's not same as social media because while creating a wallet or using it we are not giving any personal information and also we mostly use the wallets which stores the data locally which means everything is stored on our device so wallet doesn't keep any of the information. @OP, that's interesting question though some of the most used wallet doesn't have any ads, swap feature, or flat fee structure so they are probably not making any money.
There are different ways free wallet developer's make money as some has already been stated here
Keeping not selling customers data constant
The most common is through fees generated from swapping tokens or coins in the wallet
Providing assistance in promoting other coins or tokens in the form of airdrops and they are given their commission
Creating their own native tokens
Partnership with other exchanges or platforms
Etc
Keeping not selling customers data constant
The most common is through fees generated from swapping tokens or coins in the wallet
Providing assistance in promoting other coins or tokens in the form of airdrops and they are given their commission
Creating their own native tokens
Partnership with other exchanges or platforms
Etc
So how does Instagram make money? From it's userbase. Similar strategy is used in any *free* product. You are the money for them, the more the userbase, the more information they have and the better sponsors they can get for their product, simple as that. In case of Crypto Wallets, it's maybe that they can advertise a big Crypto coin without looking sus? IDK.
Most free wallets have ads or some kind of partnership with exchanges , like Coinomi wallet.
It is true that wallet developers can gain from ads, but I have only noticed Mycelium wallet to have ads, others that I have tested out bet did not have ads. Both bitcoin and altcoin wallets. Are there other reputed wallets with ads? In my opinion, it is not good to recommend such wallet. Or what do you think? 
With this Atomic wallet hack, I have a lot of questions. For example, how do free wallet developers make money? It's probably a naive question, but in the end, safety also depends on the reliability of the team, and they're not going to work for free.
The main income comes from affiliate rewards and advertising. There are many opportunities to offer various exchanges, services and even hardware wallets for added security. Or a team invests money in a project to steal the wallet of a large company
With this Atomic wallet hack, I have a lot of questions. For example, how do free wallet developers make money? It's probably a naive question, but in the end, safety also depends on the reliability of the team, and they're not going to work for free.
Most free wallets have ads or some kind of partnership with exchanges , like Coinomi wallet.
Exchange certainly pay to have those services available in the app, as it is a way to attract customers.
From instant exchanges, decentralized exchanges and other means they included third parties that their wallet users can make use of, for the third parties to make money from the wallet users.
Also some coin developers can pay them to support their coin.
No need of creating multiple topics, you could have included this in your recently created topic: https://bitcointalksearch.org/topic/m.62414136
Also some coin developers can pay them to support their coin.
No need of creating multiple topics, you could have included this in your recently created topic: https://bitcointalksearch.org/topic/m.62414136
With this Atomic wallet hack, I have a lot of questions. For example, how do free wallet developers make money? It's probably a naive question, but in the end, safety also depends on the reliability of the team, and they're not going to work for free.
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