Top 7 Benefits You Need to Know
The inevitable future of money is crypto. In the last few years, there has been an increasing need to build new products and services to match the constantly rising adoption of crypto. Crypto-native businesses require a secure and cost-efficient wallet infrastructure, yet building one from scratch and maintaining it is time-consuming and resource intensive.
In this article, we highlight why outsourcing the wallet infrastructure of your digital asset business is better than building a new one.
Let’s get started.
Sourcing an Efficient SaaS Enterprise Transaction Platform
Businesses offering crypto-native services need to keep operational costs low. They need to scale, save time, stay regulatory compliant and maintain cyber resilience.
By sourcing an efficient SaaS SaaS Enterprise Transaction Platform like THRESH0LD, crypto businesses can scale with high customer UX instead of worrying about:
-high transaction fees,
-the cost of running MPC nodes,
-storing private keys,
-managing multiple wallets across multiple blockchains,
-manually adding support for new tokens/coins,
-manually monitoring thousands of user addresses to ensure AML/CTF compliance, or
-manually aggregating transaction data needed for auditing
THRESH0LD resolves these headaches and it is only a single, simple API that can be integrated into your business in about one week.
So, why is a SaaS Enterprise Transaction Platform important?
A SaaS wallet service provider maintains and upgrades a remotely integrable wallet dashboard as plug-and-play on a monthly, quarterly or yearly subscription basis.
There are tremendous cost, time, security and efficiency benefits of outsourcing to a good SaaS wallet service provider instead of building an in-house solution from scratch.
The top 7 benefits are:
- Cost Savings (on team & infrastructure)
Hosting and running blockchain nodes is pretty expensive when you put together the cost of getting a secured location and keeping it up and running 24/7/365. On top of that, you will have to hire many engineering professionals to manage the whole process from set up to maintenance and upgrades. This means more overhead incurred in continuous staff training and associated company benefits such as paid vacation, sick leave, pensions, national insurance etc.
With a SaaS wallet provider, you will only need a very small dev team for support operations and pay a fraction of the cost of an in-house solution in subscription fees.
- Continuous System Upgrades
New blockchains and digital asset categories are deployed in the market very quickly. This makes it hard for businesses to keep up and manage efficiently. Using a SaaS provider gives your in-house team time back to focus on scaling the business.
- Fixed or Expected Monthly Costs
When running an in-house solution, it is difficult to adequately plan for unforeseeable costs like server breakdowns, an unexpected staff resignation that hampers certain operations etc. Thus making it difficult to plan a budget.
With a SaaS solution like THRESH0LD, you know how much our contract costs, with no unexpected upgrade charges or changes.
- Contract Flexibility
SaaS Wallet providers offer flexible pay-as-you-go payment plans allowing your business to grow steadily while also offering long-term plans which allow for cost savings on subscription fees.
- Better Productivity
A SaaS wallet provider like THRESH0LD comes with customisable API-driven wallet automation enabling staff to automate important but repetitive tasks. This frees time for critical tasks tailored toward business growth.
- High Infrastructural Security
SaaS wallet providers run under 24x7x365 management with government-approved security procedures, meaning your business data and network is very secure.
- Customized Workshops
SaaS wallet providers offer customised training for your engineering personnel to bring them up to speed with best practices in integrating and maintaining the software.
There are many more benefits to working with a SaaS Enterprise Transaction Platform like THRESH0LD. We are extremely proud of the many digital asset businesses we have helped scale by automating their enterprise wallet system to save time and cut transaction fee costs by 85%.
Need help scaling your digital asset business? We are happy to help.
Talk to us today or email us at email@example.com