Hashing Broker Relies on Kriptomat White Label API
An international broker of hashing power for cryptocurrency mining has adopted the Kriptomat Cryptocurrency Exchange White Label API to onboard customers and support them as they buy and sell hashing services.
The company allows users around the world to rent their excess computing power to other users on the platform for the purpose of mining cryptocurrency. The company currently serves more than 650,000 miners from more than 190 countries every day.
Among the brokerage’s most enthusiastic customers are gamers whose fast computers and high-end graphics cards are idle between games. Gamers can earn money with their idle PCs by making their rigs available to miners who bid on their services.
Of course, it’s not just gamers. Anyone with a fast PC can earn money by selling unused CPU cycles via a hashing brokerage.
Many of the company’s potential customers have heard of crypto mining but they don’t have crypto wallets or experience with blockchain technology. The company found its growth limited because it could recruit hashing sellers and buyers only from among experienced crypto users.
That’s where the Kriptomat White Label API comes in.
About the White Label API
Kriptomat offers two onboarding solutions for blockchain-based businesses.
KriptoRamp is an easy-to-integrate widget that allows users to buy and sell cryptocurrency at the company’s website.
The Cryptocurrency Exchange White Label API allows companies to use their own branding and to offer customers a full menu of tools for buying, selling, swapping, earning, investing, and sharing crypto.
The hashing broker opted for the White Label API.
The white label solution in practice
The first benefit of the Kriptomat White Label API is that it allows the hashing broker’s customers to set up accounts that are fully KYC verified according to EU regulations.
Once the customers have accounts, they automatically get access to integrated wallets that hold fiat currency and cryptocurrency. The wallet provides a quick overview of account status and easy access to buying and selling crypto coins and tokens.
The broker pays hashing providers in Bitcoin, so it is essential for customers to have wallets. Once they receive BTC, customers can store it, transfer it to a passive income wallet for earning a weekly return, exchange it for other crypto, or withdraw it as fiat currency.
With the Kriptomat White Label API, KYC verification is handled automatically for first-time users, including collection of personal data and ID verification, face mapping, and document review.
Customers can add bank accounts for withdrawing the crypto they earn as fiat currency or to deposit fiat funds in their wallets
The big picture
The crypto trading and investing features provided by the Kriptomat White Label API make the hashing brokerage’s services more attractive to customers, but that is a secondary issues.
The main point is that the White Label API provides a seamless onboarding experience for potential customers who lack experience with cryptocurrency. By conducting KYC verification quickly and easily, and by automatically providing access to a wallet page for each user account, the API makes the list of potential customers much larger.
The White Label API has been the key to maintaining and accelerating the hashing brokerage’s growth.