Microwallet is a startup blockchain and cryptocurrency site that allows businesses to make and receive small payments from users with digital currency. The script and API codes are all unique and made by the seller, who is also willing to sign a 3 year non-compete with the new owner, giving you quite the opportunity to build this into a successful blockchain platform of your own, making fantastic profit in the process.
Tell us a little about yourself. How did come to develop Microwallet?
My name is Angelo Todesco. I have a degree in materials engineering, but my passion has always been coding and developing scripts that help make life and work easier for people.
Microwallet was launched in late 2019 as I saw a need for a wallet service with low commissions and that fit websites that have to pay users just a small amount of coin, for example – ad networks, faucets, offerwall services and more.
The main platform at that time, Faucethub, was about to close due to restrictions from the owner’s government, so lots of people were looking for a new service. I decided to seize the moment and start developing a service to replace the closed one.
You seem to have grown the customer base on this upstart business quite quickly. What sort of marketing have you implemented thus far?
Starting a service at the right moment is usually a success. Over 100k users were using FaucetHub and I contacted the admin providing a solution for once his website officially closed.
I also contacted several webmasters who were using FaucetHub, showing them an easy to implement solution to keep paying their users without any downtime.
On November 2019 I registered the domain and set up a countdown: launch date was the 13th of December. I built up a list of emails from people interested in the service and once launched, traffic started to grow immediately thanks to this.
After launch, I also implemented a referral system, allowing users to earn a percentage from deposits made by their referrals.
You do mention a 3 year non-compete (fantastic!), but is this unique software that you developed or are there other platforms running on the same backend?
The script is unique, no other 3rd parties services are involved. Script has it’s own API to communicate between microwallet front end and the bitcoin core which records all transactions/balances/addresses.
What does someone need to do to continue operating the business in its current form? Must the new owner have an engineering background?
There is no need to know how to code in order to keep running the business, all can be managed by the easy to use admin panel.
It is highly advised to have someone who knows basic server management.
I also offer post-sale support and I’ll be available for further implementation according to specification of the new buyer should they need help.
Can you list a few opportunities for a potential new owner to continue growing the business?
I have a few ideas to grow the business:
– Develop an iOS or Android mobile app
– Introduce more cryptocurrencies (EOS, XRP, TRON, etc)
– Allow users to exchange cryptocurrencies between each other
– Add new API for IPN (instant payment notification) allowing webmasters to add “Pay with Microwallet” to their websites.