Cold Wallet, a new player in the cryptocurrency market, aims to address high participation costs by implementing a cashback model that returns part of the fees to users.
High Participation Costs in Cryptocurrency
Cryptocurrency promised decentralized finance, but high fees — such as gas, swap, and bridge fees — deter new users from participating. These costs pose a significant barrier to mass adoption.
Acquisition of Plus Wallet and Its Impact on User Base
Cold Wallet acquired Plus Wallet for $270 million, quickly expanding its audience by over 2 million active users. This is not just an infrastructure purchase; it secures a ready audience that will start receiving rewards from day one.
Advantages of the Reward Model
Cold Wallet's cashback model turns every transaction into a positive experience. Users can earn CWT tokens in response to their actions, creating a cycle of engagement: activity leads to rewards, which in turn increases the overall value of the ecosystem.
Cold Wallet offers a unique approach to user engagement. Its cashback strategy, accelerated by the acquisition of Plus Wallet, could be pivotal for mass cryptocurrency adoption, making financial operations more convenient and profitable.
