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5 Of the Best Cryptocurrency Business Ideas For 2018
It will not be out of place to say that cryptocurrency is to the financial world what Facebook is to social media or Amazon to ecommerce. The internet changed the way information is shared all over the world, and now cryptocurrency is changing how finances are handled globally.
Every day, different cryptocurrencies are released, creating more opportunities in the way we transact. While most people are content to be investors, holding many of these coins to make profit from, others are interested in any business opportunity this new trend will bring.
Read on as we explore 5 business ideas you can start up using cryptocurrency as a structure.
The first logical point of call will be to start a trading website or cryptocurrency exchange. A cryptocurrency exchange is a platform where people can go to exchange fiat currencies for different crypto coins. The difference between these two forms of payment is the profit made on transaction.
An exchange business should not be confused with an exchanger service, which is also a business idea on its own. An exchanger service is a small basic setup where a single person (The owner) buys and sells crypto coins in small bits. An exchange business on the other hand is a more elaborate setting where different buyers can set up shop.
This kind of system is similar to a traditional stock exchange market with fluctuating prices and live orders. The change in prices depends on the volume of transaction and this determines the profit or losses of those involved in the transaction. As the owner of the platform, you are of course entitled to a percentage of all transactions.
According to market analysts at ICOTokenNews, “Every day, smart business people are discovering new ways of harnessing opportunities on the internet to do business. And so can you. However, in this increasingly competitive business environment, ensure you have a good online with the right infrastructure to meet your business unique needs.”
If you have enough capital, then an easier way to break into the cryptocurrency market is to own or operate a special Bitcoin ATM – more commonly known as BTM. There are currently over 2000 BTMs in various locations all over the world.
If you consider that as at 2012, the number of BTMs stood at just one machine, you will understand how lucrative the business is. Fees charged by BTM operators are usually in the range of 5 to 10 percent per transaction. However, if you happen to be the only BTM service provider in the area, you could charge a bit more.
The choices of machines to buy are numerous and you even get to set your own commission. There are also third party exchanges that allow you use their service through an API in order to manage your risk and properly operate your business. If you already have a functioning retail business, then adding a BTM to your business is an even more attractive proposition. It gives you the opportunity to offer multiple payment gateways to your customers.
The rise in cryptocurrency offer gamblers an easier and more anonymous way to indulge their passion, and this is another direction you can consider for 2018. Not only is it more secure than other forms of digital payments, players no longer need to reveal their personal information or verify their identity before having access to games and stakes.
Already, there are hundreds of online gaming and gambling websites that accept Bitcoins. They also pay in Bitcoin or fiat currency, depending on the winner’s choice. If you have the capital and technical expertise, you can start your very own online casino where customers can stake with regular currencies or Bitcoin.
If, however, you cannot build your platform from scratch, there are several white label online opportunities that allow you to run a platform as if it was your own. These range from a full turnkey website where you only need to add your name and brand, to standalone game applications that you can embed in your existing website.
Whatever choice you decide to go with, remember that gambling is a multibillion dollar industry, so you’ll definitely get a slice of the pie. Just make sure that you find out the local laws concerning gambling in your area.
It seems that nowadays, everybody needs information on cryptocurrencies, opportunities and trainings. This opens up a veritable opportunity for individuals looking to gain an edge in the information marketing niche. All you need to do is keep up with the crypto trends and constantly offer insights, suggestions and tips on cryptocurrency blogs.
Once you have grown to become an expert in the fields, you can begin to offer consultancy services for a fee to those who need it. It’s important to point out, though, that this type of business requires a level of training and expertise. There are already hundreds of websites offering similar service and you’ll really need to set yourself apart in order to catch your share of the market. This means that you may need to spend time and money improving on your knowledge of the crypto industry, blockchain and so on. However, once you can prove yourself in this niche, the rewards will be worth the hassle.
Possibly the easiest to start and manage, running a retail business allows you to offer products in your shop, online or offline and accept payments in cryptocurrencies. Virtually everything can be bought with Bitcoin today. From web hosting, to airline tickets, hotel tickets, household goods and much more. Despite this, there’s still a big opportunity for new businesses willing to accept payments in digital currency to make a name for themselves.
Some of the benefits of this idea include: low transaction fee, zero chargeback, zero customer fraud, secure transaction and more. Simply identify a niche and build your online business. Alternatively, you can choose to work with third party ecommerce companies like Shopify that allows you to set up your shop using their system.
It is very rare to come across anyone today who’s not heard of cryptocurrency or Bitcoin. The knowledge is just everywhere and more people are increasingly turning to it as an accepted medium of payment.
If you’re wondering how you can tap into the current wave of cryptos and join the thousands of others already making profits with this new form of currency, then you need to consider any of the business ideas discussed in this piece.
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DISCLAIMER: We hope whatever you find on this site is helpful, but be cautioned that it may not apply to your own situation, or be totally current at any given time. Idea Cafe Inc. and all of its current and past experts, sponsors, advertisers, agents, contractors and advisors disclaim all warranties with regard to anything found anywhere on this family of websites, quoted from, or sent from Idea Cafe. and its related sites, publications and companies. We also take no responsibility for comments published by others on these pages.
TRADEMARKS: The following are Registered Trademarks or Servicemarks of DevStart, Inc.: Idea Cafe®, Online Coffee Break®, The Small Business Gathering Place®, Take out Info®, Biz Bar & Grill®, Complaint-O-Meter®, A Fun Approach to Serious Business, CyberSchmooz, and BizCafe.