Quote from: XEN_Protocol on Today at 06:49:09 AM

Crypto exchanges make their money from withdrawals and trading fee that's why some have high withdrawal fee and some are so damn affordable but what about crypto wallets? How are they making money?

I mean it's damn hard to build a crypto wallet that's secured but where is the money coming from?

Closed-source wallets may charge a fee every time a customer makes a transaction, and this fee is so small that it goes unnoticed. Depending on the number of users of such a wallet and their overall activity, the revenue may fluctuate significantly. Moreover, given that users or other developers cannot inspect the codebase of a closed-source wallet, it enables wallet creators to conduct malicious activities that also go unnoticed; for example, they are collecting and selling user data with information about senders and receivers, their balances, and their location. In other words, in the case of closed-source "free" wallets, you are seen as a product, and you are sold as a product. On the other hand, the business model of open-source software is pretty straightforward and transparent: in most cases, it simply doesn't exist because all contributions to the codebase are absolutely voluntary. Some wallets, especially those providing CoinJoin and other mixing services, may collect a fee for facilitating transaction obfuscation, but this is the exception rather than the rule.