3 reasons why startups should start collecting crypto wallet addresses in 2023

3 Min Read - By Brian Wong

The world is becoming increasingly digital. Everyone is constantly looking for ways to simplify and streamline their own online experiences. This has led to the proliferation of crypto wallets, which offer users a secure and efficient way to manage their digital assets.

Crypto wallets can now show an individual on-chain footprint simply by entering their crypto wallet address on a web3 search engine.

What is a crypto wallet?

A crypto wallet or cryptocurrency wallet is computer software or physical hardware that consumers use to access their cryptocurrency. A crypto wallet is a fully decentralized application used to interact directly with the blockchain. Crypto wallets are not Coinbase or Binance accounts — those are what we call centralized exchanges where a single company controls your crypto for you.

If you are new to web3, our team published an article that goes over the basics of cryptocurrency wallets.

Read the article here.

3 reasons why startups should start collecting wallet addresses.

For startups, collecting web3 wallet addresses from their customers can provide a host of benefits. Here are just 3 reasons why startups should start building a list of crypto wallet addresses:

Increases accessibility and convenience

Crypto wallets make it easy for customers to access and manage their digital assets from anywhere in the world. This means that businesses can offer their customers a more convenient and accessible way to make payments and manage their accounts, which can lead to increased customer satisfaction and loyalty.

Enhance interoperability

Consumers can use their crypto wallets across a wide range of decentralized applications (DApps) and blockchain networks. This means that businesses can collect web3 wallet addresses from their customers and use them to facilitate transactions and interactions with a wide range of DApps and services.

Stay competitive and relevant

Collecting crypto wallet addresses from customers can help startups to stay competitive and relevant in several ways.

By collecting crypto wallet addresses, startups can have a wider customer base and potentially gain an edge over competitors who do not accept cryptocurrency payments.

Collecting crypto wallet addresses can assist startups in keeping up with the latest market trends and developments. Startups can adjust their business strategies based on insights gained from the wallet addresses of their customers.

It can help startups build loyal and strong customer bases. By regularly interacting with their customers through their crypto wallets, startups can foster a sense of community. Startups can execute this through a sound airdrop strategy.

Ultimately, startups can benefit greatly from collecting crypto wallet addresses from their customers. As direct-to-wallet (DTW) tools are developed and different brands are trying out a variety of strategies, startup founders should start working on collecting customer crypto wallet addresses.

How Continuum can support startups?

Continuum is a web3 marketing platform that uses education to help early-stage startups grow or onboard onto web3. Startups can build a list of wallet addresses as people discover their course through Continuum’s platform.

If you are interested in building a list of crypto wallet addresses for your startup, reach out to us by filling out this form.

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Brian Wong
Brian has experience managing communities for web3 startups, DAOs, and NFT collections, leading social media efforts for SMBs, as well as working in film production, and talent management roles. He is based in Singapore.