Building a hybrid crypto casino (or your decentralized apps and games) is amazing. Not only will you give your customers untold functionality, but it opens the doors to exciting new opportunities for your business. A hybrid structure allows you to maintain a level of control in the Web3 chaos. It speeds up decision-making and execution of your strategy.
One of the best ways to stand out from the crowd is to offer your own native crypto wallet where all your in-game coins and tokens can be stored and utilized to their fullest potential. Honestly, building your own wallet is no joke. It takes time and resources to succeed. This article will help you to discover what exactly makes a good crypto wallet. Armed with this knowledge you will be one step closer to victory. Ready?
Non-custodial Wallet by Default
One of the fundamental principles of Web3 is decentralization, and a good crypto wallet embodies this ethos. A non-custodial wallet gives users full control over their digital assets and private keys. For the gaming and sportsbook audience, this offers several benefits:
Trust: Users appreciate knowing that they own their funds, not a third-party custodian. This transparency builds credibility for your platform. The mantra “not your keys - not your coins” is as relevant today as it was back in 2009.
Security: Since private keys aren’t stored on your servers, the risk of mass hacks or breaches is significantly reduced. Naturally your wallet will need extra layers of security and “idiot proofing”.
Flexibility: Users can connect to decentralized applications (dApps), participate in staking, or engage in other blockchain activities without needing your permission. This can be done inside your own ecosystem or expanded later on.
By building a non-custodial wallet, you’re empowering users to truly own their gaming assets, winnings, and tokens. Naturally this also means you will need to properly educate your customers on wallet backup and recovery procedures.
In the beginning this will take some time. Over the long term any non-custodial wallet is infinitely more safe and useful than all centralized alternatives put together. You are the one who’s giving your clients true freedom of ownership.
All Focus on Private Keys
Private keys are the cryptographic backbone of any wallet. It’s the physical and mathematical proof that a user truly owns their digital assets. For a wallet to be considered “good,” it needs to balance security with user accessibility. Here’s what you need to remember;
User Education: You will be dealing with many newcomers. These people are just dipping their toes into the world of Web3 and Blockchain. Your wallet should clearly explain the importance of private keys and provide easy tools for backing them up (like mnemonic seed phrases). In fact, without this step, the creation of the wallet itself should be prohibited!
Security Features: Implement features like biometric authentication, multi-signature support, or hardware wallet integrations to safeguard private keys. Again education plays a pivotal role here.
Recovery Options: Offer a simple and secure recovery process for users who lose their keys - without compromising on the non-custodial nature of the wallet.
Private keys are what make Web3 wallets revolutionary. When you get this part right, you’re offering users unparalleled ownership and security. You literally share the trust with your users and this relationship transcends any simple one sided business transaction. This is how things are done in Web3.
Expanding functionality
The gaming and sportsbook industries are no strangers to the allure of rewards. This is where the true functionality of crypto wallets truly shines. Integrating staking options into your wallet takes user engagement to the next level:
User retention: Giving your users the options to stake your in-game tokens inside a non-custodial wallet is one of the best ways to boost user retention. Playing with in-game tokens is fun, but earning more of them is even better.
Gamified staking: Incorporating gamification elements, such as tiered rewards or badges makes staking more engaging for your players. This strategy is already used by social media and other tech companies. Why should they have all the fun?
Network flexibility: An average crypto user has to use multiple crypto wallets every single day. This is highly impractical. If you want to go all the way, you can offer options to stake digital assets across many different L1 and L2 networks - infinitely expanding your wallet’s capabilities.
As you can imagine, the more real world problems your wallet solves for your customers, the better. Today mobile wallets are taking over the world. They are fast, easy to use and extremely safe. It helps to go outside your comfort zone (and your existing industry) and look for real problems that need solving. This is your fastest way towards fanatical (almost cult-like) user retention.
User Experience Matters
Anyone who has had the misfortune of using the Polkadot JS wallet, knows the importance of fluid and intuitive user experience. No one wants to use a wallet that feels like a math problem wrapped in a clunky Windows95-style interface. In the gaming and sports space, where users demand speed and simplicity, user experience (UX) is everything. Consider this;
Simple onboarding: A good wallet has a frictionless setup process with clear instructions written in “human” language. It should be easy to understand and should take less than 2 minutes to complete.
Clean interface: Design matters! The navigation experience should be fluid, crisp and logical. Most of all it should be visually appealing. In Web3 the “dark mode” is the standard default setting.
One-tap features: Amazon has built an entire empire using the “one click order” strategy. Crypto wallets are no exception. Integration of features like quick-send, receive, or buy crypto with just a tap should be standard.
Custom branding: Let’s not forget that this is your wallet! Your branding and ethos should reflect your company’s image and style on every single page.
The easier and more enjoyable the wallet is to use, the more likely users are to adopt it. This obvious fact is still overlooked by so many Web3 developers. Always remember that your wallet users are not crypto native people! It is your mission to make them fall in love with the tech you created. Give them every reason to do so.
Security and Privacy are Non-negotiable
In industries like gaming and sports betting, where financial transactions are fast-paced and frequent, security is a top priority. Anyone who knows the importance of owning your private keys fully understands this fact. A good wallet should address these concerns:
Encryption: State-of-the-art encryption that secures user data and transactions is mandatory. Without it, your wallet is no different from thousands of other options on the market.
Two-factor authentication (2FA): Adding an extra layer of security for wallet access gives the needed boost of confidence to your users. Naturally 2FA features can be made optional for ease of use.
Transaction alerts: Notifications of any activity informs your users that the wallet is synced up and working properly. Again this gives a tremendous boost of trust to your users.
Anonymity features: Some jurisdictions simply don’t like the sports and gaming industry. While it is not possible to fix this problem in the short term, it’s definitely possible to equip your wallet with anonymity and privacy options. ZK rollups, Schnor signatures, MW are just a few examples of what’s possible.
Security means trust. There’s no other way around it. Your users need to feel confident and comfortable using your wallet. So many wallets today lack these important features. If you spend just the right amount of time on them, you will gain a significant edge in the world of Web3.
More choices and more options
The gaming and sportsbook industry often spans multiple platforms and networks, and your wallet should too. Besides, giving people more options to use different networks and ecosystems will greatly increase the chance that your wallet becomes the only wallet that people love and use. Supporting multichain compatibility is a huge advantage:
Broader asset support: Let users store and manage tokens from multiple blockchains (e.g., Ethereum, Binance Smart Chain, Solana) in one place. Today people have too many wallets and they are slowly getting fed up with it. Make their lives a bit easier by providing multiple network support.
Cross-platform connections: Allow users to interact with dApps, staking platforms, or decentralized exchanges (DEXs) across chains. Again this can be made optional if needed.
Future-proofing: As new blockchains gain traction, your wallet should be able to adapt quickly. Today better and faster networks emerge like mushrooms after rainfall. You should be ready to take advantage of these tech developments.
Interoperability ensures that your wallet remains relevant and attractive to a wide range of users. With these features your wallet will definitely stand out from the crowd.
Gaming elements
Above all else, gaming should be fun! When your wallet reflects the spirit of gaming, it unlocks an entirely new dimension for the user. While these features are in no means mandatory, they can certainly enhance the user experience;
In-app swaps: Allow users to trade gaming tokens or cryptocurrencies directly within the wallet. There’s an entire industry of decentralized bridges blossoming on the blockchain space. These platforms are fast, secure and easy to use - it’s inexcusable that they don’t exist inside your wallet.
NFT support: Many games and sportsbooks are integrating NFTs for rewards or collectibles. Ensure your wallet supports NFT storage and trading. It’s perfectly ok to flex using your NFT collection.
Custom rewards: Enable users to earn special perks, such as cashback or exclusive tokens, for using your wallet within your ecosystem. This strategy is already used by highly centralized platforms today. Why not inside a wallet?
Gaming integration: Allow your users to seamlessly connect your wallet to your gaming or sportsbook platform, reducing friction for users.
As you can clearly see, giving extra options to your users is vital in today’s highly competitive environment. One may say that love comes from both sides. Your users enjoy unprecedented utility while you enjoy having the most unique value proposition inside the industry.
The right wallet for the right job
A crypto wallet is a lens through which the user looks and interacts with the world of blockchain and with your native apps and ecosystems. It’s a stargate to your platform. For the gaming and sportsbook industry, it’s more than just a tool - it’s an opportunity to redefine how users interact with your brand. A well-designed wallet will:
Increase engagement: By offering features like staking, rewards, and gamified elements. It puts a smile on your user’s face every time they open their wallet in the morning.
Boost retention: With a secure, user-friendly experience that keeps users coming back for more. Today not many wallets can pound themselves on the chest with such metrics.
Build long lasting trust: Through transparency, privacy, and decentralized control. Having 10 fanatical users is worth more than a 1000 casual ones. Today the word of mouth (or a single post on social media) carries more weight than a massive marketing campaign.
Ready to build?
At D3LTA, we specialize in helping companies like yours build crypto wallets that don’t just meet expectations - they exceed them. From technical design to user-centric features, we’ll work with you to create a wallet that sets a new standard in the gaming and sportsbook industry. No mission is unattainable. No challenge is too big.
If you’re ready to start your Web3 adventure, we welcome you to our table. Let’s build something awesome that your users will love and appreciate for many years to come.
