An interesting fact – nobody likes delays, especially in the most competitive markets, where everyone is trying to outdo each other to be the first to update their products and introduce something new and relevant. Literally no one.
It is very difficult to remain competitive if your team’s resources are not enough to launch or update the product on time.
A delayed launch of a crypto wallet slows adoption, reduces transaction volume, and weakens competitive positioning. For businesses building a mobile crypto wallet, every launch delay means lost users and unrealized income. We think you agree that no business wants to face this.
For this reason that we will analyze in this article how delays in the launch of crypto products, specifically digital crypto wallets, can affect a company’s profits and how to manage these delays effectively.
A small reminder – don’t hesitate to visit our website to learn more about all services we can develop specifically for your business and according to your personal request quickly, without delays and bugs!
How Launch Delays Translate Into Financial Losses
Missed User Acquisition and Market Share
Let’s start with the most obvious consequence. A digital wallet solution often serves as a core payment and engagement layer.
When the launch is postponed, users migrate to alternatives already live. Even a short launch delay can result in competitors capturing market share that is difficult and expensive to recover.
Rising Wallet Development Costs
The costs themselves are not the most pleasant part of running a business. And when they also grow significantly, which hits the budget and resources, this leads to big problems within the project.
Extended crypto wallet development increases operational expenses, for sure. Custom builds frequently face security audits, infrastructure refactoring, and compliance changes. Each delay adds costs without generating revenue.
And here we would like to emphasize that we are talking about basic crypto wallets (receiving, storing, and exchanging). If you plan to add additional features during the development process, the release of your product may be delayed by at least 1-2 months.
Therefore, this should be taken into account when choosing a custom development of a crypto wallet or any other blockchain product.
Loss of Product Relevance
For some reason, few articles say that the relevance of a product plays a crucial role in its success of a product. Even if you have completed all the following steps:
- Analysis of the target audience, its geography, requests, and pain points
- Analysis of direct and indirect competitors in the market
- Current market trends and the presence of unfilled niches
This does not mean that after the release, even for a month or two after the initial deadline, your crypto wallet will be relevant and in demand.
Unfortunately, the crypto market is quite volatile, and requests and trends here also change quite quickly, based on market conditions, the emergence of new technologies, and the needs of users.
During development, trends may shift in the other direction, as may new requests from the legal side: licenses, permits. We also do not cancel constant updates in requests for audits and security checks of the code.
In a good scenario, when developing blockchain solutions, these aspects should be considered as risks, but if your development has gone beyond the initial deadlines, then you will have to allocate additional time and money to adapt the product to new requirements.
At this stage, we have identified the main negative consequences of delaying the launch of a crypto wallet, but how can we avoid such a bad ending?
Why White-Label Wallets Reduce Time-to-Market Risk
Of course, we cannot generalize all cases, but often the delay in the assembly and implementation of crypto products, and we are talking about crypto wallets, is precisely the custom development.
Why? It’s trivial because it’s done from scratch.
The development team needs to have a sufficient number of workers and internal resources to implement the project, look for providers if necessary, get licenses to work in local and foreign markets, conduct tests for bugs and security holes, and look for an external auditor.
All this will require a serious approach and a lot of time, effort from developers, and money. And this is where the white-label development of non-custodial crypto wallets comes to the rescue of your project.
Faster Launch With a Proven White-Label Digital Wallet
A white-label digital wallet is built on tested infrastructure, allowing businesses to bypass months of backend development.
By so, a white-label solution enables a faster, more seamless launch while minimizing technical risk. The code’s exploits have already been translated for you, as well as the search for safe and reliable providers.
The backend is fully worked out for you, and the UX design is also left to the white-label developer, while it will contain the design of the product in the style of your project.
Seamless User Experience Without Rebuilding Core Systems
Additionally, white-label architectures ensure performance, scalability, and security from day one. Teams can focus on branding and growth instead of rebuilding foundational wallet components.
Conclusion: Faster Wallet Launches Protect Revenue
To sum it up, delays in launching wallets cost businesses millions in lost revenue, increased development costs, and missed partnerships.
Choosing a non-custodial white-label digital wallet solution accelerates the launch, reduces risk, and enables faster market entry with confidence.
Looking to create a secure and user-friendly crypto wallet service, which will align with regulatory requirements? Evercode Lab can help you design and develop any Web3 product, from white-label wallets to an asset management app.
Reach out to our team to start creating the platform that empowers your users with simplicity and safety.