Portfolio/Wallet App Monetization

[Kruddler]

I'm creating a portfolio / wallet app. It's not just another throw away wallet. It aggregates most coins, integrates with hardware and many large exchanges. I want to make money from this app somehow so I have incentive to keep working on it. It is a native app for all the main platforms : iOS , Android , Windows and probably eventually Linux and Mac OS.

A big part of me wants to embrace open source and hand the code over to other people but I worry that if there venture capitalists willing to invest in my product then I may be cutting myself off at the knees if I release the source code.

But I look around and much of the software that's available had its source published so that people can acrutinize the app and so on. Also, so many apps are totally free. This makes me wonder... How do the companies make money?

What are your thoughts on how to make money from a wallet / portfolio app?

[Worldtokenindex]

Like you mentioned there is already so many products building and existing with similar services but not many choices with overall year end tax report with complete trade history. Like tracking all trades from exchanges by connecting thru their API's and populating whole portfolio and auto update everyday within individual dashboard monitoring total ROI.

Most of them initially don't look for revenue generating machine, you need to build user base and traffic first and add news and similar crypto add on services and engage users first as you build more user interaction you start selling banner ads where people go thru and your site start making revenue.

As of now i don't see someone charging just to offer portfolio management but sure can offer paid account service if you can offer tax reporting service other than advertisement, I am interested to dive deeper in this project as developer/ Investor if you are interested share more info of your project, status and future plans you have for it we might do some collaborative work?

[Kruddler]

Thanks for your insight. You are right. There are a large range of free apps that can do some of the job, but not all of the job. People have come to expect apps to be free, but at the same time, I think that people would be willing to pay for an app that does all the things you mentioned. I agree that using ads looks like the only alternative. I'm not entirely comfortable with ads myself, but its always an option if I decide not to make it a paid app.

[Kruddler]

I sent you a PM WorldTokenIndex