Is this legal and compliant with crypto regulations?

Operating a crypto wallet requires compliance with various regulations including KYC/AML requirements, money transmission licenses in applicable states, and following FinCEN guidance. You'll need legal counsel specializing in cryptocurrency to ensure full compliance. Start with smaller transaction limits to minimize regulatory burden initially.

How do pet inheritance features actually work?

The inheritance system uses smart contracts with designated beneficiaries and trigger conditions. When certain conditions are met (verified through integration with legal services or manual confirmation), funds automatically transfer to predetermined wallets belonging to pet caregivers or family members. This requires careful legal structuring to be enforceable.

What happens if someone loses access to their pet's wallet?

The system includes multiple recovery options: seed phrase backup, designated recovery contacts, and customer support verification process. For premium users, multi-signature wallets provide additional security where multiple parties must approve transactions, reducing single-point-of-failure risks.

How do you prevent people from creating fake pets to game the system?

Pet verification includes photo requirements, veterinary record uploads for premium features, and social verification through connected accounts. The system also monitors for suspicious patterns like multiple pets with identical characteristics or rapid account creation from single IP addresses.

What's the real market size for this?

The addressable market is the intersection of crypto holders (~52M Americans) and pet owners (~68% of Americans). Realistically, only 1-2% of this intersection would pay for pet crypto services, giving us roughly 350,000-700,000 potential paying customers in the US market.

PetCrypto Wallet - Blockchain Assets for Pets — What to Build

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PetCrypto Wallet - Blockchain Assets for Pets — What to Build | RevenueMaxxing