Best Crypto Wallet for Business

Cryptocurrency wallets play a massive role in crypto management. Every user who has dealt with any digital assets is definitely acquainted with a crypto wallet. No words are left if we speak about business, since nowadays, when the world rapidly changes, most niches start coming up with ideas of improvement and getting a new level to their business. A crypto wallet is also indispensable here!

In this article, we consider the best crypto wallets for business needs, explore their types and features, and learn about setting them up. Let’s get started!

What Is A Crypto Wallet?

A cryptocurrency wallet is an innovative digital storage solution for keeping your cryptocurrency safe and accessible. In the case of starting a business, it’s an essential part of financial management if you want to accept crypto as a payment method.

Cryptocurrency wallets allow users to store, manage, receive, send, withdraw digital assets with just a few clicks. Nevertheless, it is crucial to approach the choice of a wallet provider with full responsibility, since a lot depends on the successful choice of the wallet to use.

First of all, it’s necessary to get a good understanding of the cryptocurrency wallet term and its types. As we’ve finished with the terminology, now it’s time to start with the basic types of digital wallets. Read further to learn more!

Types Of Business Wallets

Many crypto-enthusiasts are used to knowing that as many cryptocurrencies exist as many wallets are created to manage them. It’s mostly true, but the main thing is left. Business crypto wallet is a primarily ordinary digital wallet with its own unique features that can support any asset you need for business purposes.

Typically, every cryptocurrency wallet can be defined as a part of one of two groups. According to the mode of operation, they can be classified as either hot or cold:

• Cold wallets are able to work without the Internet. Tier software implements physical control that allows you to keep assets offline. It’s essential to note that even if a user faces a problem, then there is nobody to help him while working with a cold crypto wallet.

• Hot cryptocurrency wallets are always connected to the Internet or are usually functioning on the browser or some other Internet platform. They act as secure and easy-to-use storage solutions that are suitable for both beginners and advanced users to manage digital assets. Additionally, hot crypto wallets are a more widely used type among all crypto enthusiasts due to their convenience and useful features.

According to the kind of management, crypto wallets can be divided into custodial and non-custodial ones.

• With custodial wallets, an outside party is in possession of your private keys. It is typically a cryptocurrency exchange or gateway that you have selected to create your wallet on.

• Using non-custodial wallets, you keep total control over your digital money because no third party is involved. So, it is fully your responsibility to keep your account, passwords, and private keys secure.

If we speak about the best business crypto wallets, then Cryptomus provides users with custodial hot wallets. It’s an ideal choice for users who need an efficient and less time-consuming option to manage and distribute their funds. Additionally, the Cryptomus business wallet provides full customer support and necessary security measures to store funds.

Cryptomus Business Wallet Features

Dealing with business combines a large number of factors and issues, all of which require a suitable approach. Exactly for these reasons, a wide range of financial business instruments were created. Let’s go further and explore the most popular cryptocurrency features of the Cryptomus platform for better managing your digital finances.

• Invoice generator

Invoice generator is an indispensable tool in your business deals. It helps you professionally create cryptocurrency invoices that can be further sent electronically making your payment management more transparent and less time-consuming.

• QR-code generator

Ever wanted to make or accept payments almost in a second? QR-code generator is here for you! Everyone can easily generate a QR-code payform and integrate it into the website or just share it with the customers. All that’s left is to scan the QR-code and the client will receive the address for depositing funds.

• Recurrent payments

Recurrent payments are so useful for everyday business usage. They’re specific payments that are made when a client approves to regularly pay a merchant on a predetermined schedule. So, it’s a perfect option for those who have a subscription-based system. Most businesses prefer saving time, retaining customers, and improving the shopping experience by implementing this feature.

• Mass Payouts

Mass Payouts feature is great for business due to its ability to make mass payments to a variety of addresses in one click. A user just needs to upload a file with addresses and payment amounts. Then it’s possible to make thousands of transactions simultaneously, either manually or via API.

• Auto-withdrawal and auto-convert options

Auto-withdrawal provides you with the opportunity to automate all payment processes. Now all funds credited to your business wallet will be automatically withdrawn in your preferred way. Using auto-convert, similarly, you’re able to convert all receivings and withdrawals into preferred currencies automatically.

• Widgets and plugins

Cryptomus is quite rich with different additional business options. So, you can easily integrate Bitcoin payment buttons into your website or utilize Cryptomus plugins for enhancing your business horizons on a variety of platforms.

How To Set Up A Crypto Wallet For Business?

A Bitcoin wallet is a necessary tool for any business to be successful. So, we’ve prepared a detailed guide on how to set up one. Following the instructions, every user will have the opportunity to take all the benefits of a business crypto wallet.

It’s easier to explore all the processes on the example of the Cryptomus ecosystem, so let’s get started!

• Step 1. Sign up for a Cryptomus account if you don’t have one

You can choose any suitable method of registration. Using a phone number or email address is not necessary to sign in. You can also do it directly via Telegram, Apple ID, Facebook, or by linking your account to your Tonkeeper wallet.

• Step 2. Choose a business wallet on the dashboard

You have a choice of three types of wallets: personal, business, and P2P. Choose a business one, create a merchant name and go further.

• Step 3. Go through moderation

Before you start using a business wallet, you need to go through moderation. You should enable Two-Factor Authentication (2FA) and set up a PIN to be sure your digital assets will always be safe. Also there are such useful options as WhiteLabel, Whitelist Management, etc. You may see the full list of the Cryptomus features here.

• Step 4. Get a wallet address

Shortly saying, wallet address is a specific ID of your crypto wallet, which is necessary for making transactions. It’s a crucial part of the whole process, so it’s better to check it out in advance. More detailed information you may find in this step-by-step guide on how to find your wallet address.

• Step 5. Accept cryptocurrency payments

Everything is ready to work, so you can start using a wallet for your business needs now! Add a crypto wallet as a payment method, and accept crypto easily with your business wallet.

That was all the necessary info you should know about the Bitcoin business wallet! We hope this article was handy for you, and now you’re able to create the best crypto wallet for your business. Enhance your business horizons together with Cryptomus!