Guarda Wallet Has Made a Fortune Using Outsourced Crypto Nodes — 5 Steps on How to Grow Crypto Business
This year Guarda wallet has shown massive growth and business consolidation caused by using outsourced crypto nodes.
The company’s assets go up and profit soar accordingly. But is the situation of the famous company really so serene? Let’s evaluate it first.
In 2022 Guarda wallet made an ultimate decision to stop in-house crypto node deployment. By making such a choice the company got the freedom to concentrate only on important tasks such as App deployment and company development. This is a major change in the company’s infrastructure, which led to increased stability and reliability of the service.
Guarda wallet CEO Paul Sokolov has commented on his determination: “Crypto industry is a very competitive market, the standards are growing constantly, new companies are rising each day, and we have to do our best to keep our company in the primary positions”.
Let’s discover the steps which caused the increase in the company’s profit.
- Evaluate the current situation. What tasks take up a major part of your time?
The CEO of the famous wallet has announced the reasons which affected his resolution. Here is the checklist to evaluate whether your company has similar complications:
- Obligation to deploy new assets permanently;
- Expensive infrastructure maintenance;
- Upkeep DevOps engineers occupied by node deployment;
- Crypto nodes are crashing regularly;
- Finances and time are wasted to maintain the company instead of desired expansion.
If at least one point applies to your ongoing situation, it is a mark to consider blockchain nodes outsourcing.
Currently, Guarda wallet provides 400K+ assets and as the company grows, it is getting more and more complicated to support internal infrastructure. Guarda wallet’s team maintains a network of servers in several data centres and employs a team of highly skilled developers and DevOps engineers to support it day and night.
2. Consider whether outsourcing is a possibility to speed up the working processes.
Any crypto wallet, exchange, or payment system owner knows the pain of waking up at 3 am when a DevOps engineer announces the ugly truth: “the node is down”. Internal cryptocurrency node deployment bears significant labor costs for any crypto project. It is becoming clear why major businesses are searching for ways to optimise their operational expenses.
Guarda’s CEO said, “For us as a big wallet platform, it is much easier to place crypto nodes hosting on a reliable blockchain node provider than to deploy on our side. I can say that in-house node deployment is incredibly stressful and quite expensive. That is the reason we decided to look for a reliable blockchain node hosting provider we could work with.
3. Perform proper outsourcing market research.
It is crucial to do market research before making a decision. When choosing a blockchain node hosting provider, it is important to look at a company’s reputation, security and the technical packages they offer.
“Following extensive market analysis we have chosen NOWNodes due to their reliability and wide range of different blockchain nodes. These features are very important for us as for a multi-currency wallet because we have to add new coins constantly to maintain the value for our clients”, Paul says.
4. Choose a stable and trustworthy service provider.
The major partners are the critical point of trust in the crypto market. It is significant to mention that NOWNodes belongs to a group of companies led by the well-known crypto exchange ChangeNOW. This fact could accurately explain Guarda’s choice of the crypto nodes hosting provider.
“One more important point for us is the possibility to check complicated issues with their support because it makes our team’s work easier and more efficient. NOWNodes provides SLA, which makes our working process easy, and the cooperation is completely transparent. In Guarda Wallet, we deliver premium quality service and for us, it is essential to have all crypto nodes stable and in sync with the blockchain, because our service depends mainly on blockchain nodes”, Paul Sokolov mentioned.
Any crypto wallet needs to receive balances and transaction histories, and NOWNodes has both crypto nodes and explorers. The integration was simple. The company provides API for blockchain nodes, so there was no need to make any significant changes. NOWNodes is completely responsible for new node deployments, failed node recovery, and node version updates.
What can NOWNodes offer?
- Access to 60+ blockchain nodes via one API key;
- Access to blockchain explorers;
- Free month test of the service;
- 24/7 highly qualified technical support;
5. Invest all available resources in sales and marketing.
“The complete transition took a couple of months. For security reasons we were transferring our cryptocurrency nodes hosting to NOWNodes in stages, and it allowed us to test the service first before deciding to move our resources to this company’s hosting completely. This decision allows us to minimise operational expenses, such as server maintenance and hiring of new developers. I can say that these changes were crucial, as they have allowed us to focus on targeted actions for growth such as sales and marketing. That choice gave us a chance to concentrate on developing the wallet itself and raising its profitability”, confesses Guarda’s CEO.
It is becoming clear that Guarda does not need to occupy their developers with the crypto node maintenance anymore. The company got down to expansion and profit raising, which is pivotal in a fast-paced crypto environment.