Small crypto wallets often struggle to monetize their user base because they lack essential features like in-app swaps, staking, and trading. When users cannot perform these actions within the app, they move to other platforms, causing the wallet to lose potential fee revenue. Yana Mar, Head of B2B and Partnerships at ChangeNOW, suggests that small teams should avoid building infrastructure from scratch and instead integrate ready-made solutions.
To compete with larger providers, small wallets should focus on a specific niche, such as a particular region or audience, rather than attempting to offer every possible service. Differentiation can be achieved through superior user experience, faster feature deployment, or specialized support. Mar notes that users often prioritize the final amount received over zero-fee labels, which are frequently limited to specific networks and coins.
ChangeNOW launched its Free Fast Track program in March to assist early-stage wallets with traffic and profit. Partners integrate the company's exchange API to earn a revenue share starting at 0.4% on swaps. The program also provides marketing support, including cross-promotion and event presence, to help smaller teams engage their audience effectively from the start.
Security remains a critical priority for wallet developers, especially given that the industry has lost approximately $1 billion to hacks in the past six months. Mar advises teams to prioritize trust and user needs when selecting features. By utilizing third-party tools for complex tasks like KYC, AML, and gasless transactions, small wallets can reduce operational costs and improve user retention.
