Innovative Business Ideas you can Generate with Cryptocurrency in 2020

Akshara Singh

Akshara Singh

Hey, This is Akshara Singh, Crypto Writer at Coinsclone. I have a great passion towards Cryptocurrency & Blockchain and love to share my ideas through impeccable content. If you don't find me involved in writing, I will be a great bookworm.

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What will be in your mind when you hear the word ‘cryptocurrency’. Some people will think it is a weird word and some may think it is one of the types of currency. But it is not a type of currency or a weird word. cryptocurrency is digital money and it is completely developed using complex technology. which is known as the blockchain. The first crypto coin in this digital world is bitcoin.

Bitcoin is the most prominent digital currency in all the digital trading platforms. Also, the most traded cryptocurrency in crypto exchanges till now. At the initial stage of bitcoin launch, the price is very low. It is less than $1. But at the time, most of the people refused to buy bitcoin. Because they don’t know it will boom the trading market in the future. Within a few years, the price became very high and most of the traders started to trade bitcoin in the crypto exchanges.

Also, at the same time, many new digital currencies are launched similar to bitcoin.  But the truth is bitcoin is at the highest peak till now in the crypto market place. The current price of bitcoin is about more than $10k. Compared to other cryptos, the only bitcoin has the highest price in the marketplace. So this insisted many startups and business people started their business with bitcoin. In this blog, let us see some business ideas which you can generate with bitcoin.

Start a Bitcoin Exchange Business

This is the most popular and profitable business idea for startups and entrepreneurs. Also, one of the best online businesses to kickstart. Bitcoin Exchange allows the buyers and sellers to exchange their digital currencies for other cryptocurrencies or fiat currencies. Such as USD, EURO, AUD, INR, and more. When crypto users trade on the exchanges, the owner of the exchange can charge a percentage of the fee as a trading fare. So in this way, exchange owners can earn more profits.

Currently, it has become risk-free for an entrepreneur to get started with the crypto exchange business. You can launch a unique crypto exchange by buying the premium bitcoin exchange software. There are many Fintech crypto solutions providing companies that offer bitcoin exchange based on your customized requirements.

Once you build a user-friendly bitcoin exchange with tightened security features integrated. So there will be more possibilities of crypto traders approaching your exchange. In case, if you are not sure of how to start a Cryptocurrency Exchange Business. Then you can get help from the professional top-notch crypto exchange development companies. They will guide you on how to launch a bitcoin exchange in a hassle-free manner.

Starting a Bitcoin ATM

If you have enough funds, then this is a more scalable task for you. This can be a good profitable way to set up a business that involves bitcoins by operating an Automated Teller Machine (ATM). The fee charged by ATMs will be around 5-10% per transaction. In some cases, it can be slightly higher. Owners who manage these ATMs in the top-notch locations have higher chances of getting ample amounts of profits in less than a year. Moreover, bitcoin ATMs don’t take much space and therefore the renting cost will also be less. However, the cost of the machine and loading the digital currencies will cost higher. In the future, we can expect the implementation of bitcoin from the banking industries.

Cryptocurrency wallet service provider

Cryptocurrency wallets will allow the users in the exchange to store and receive their digital currencies. such as Bitcoins, bitcoin cash, Ethereum, ripple, Litecoins, and more. These crypto wallets have both private and public keys that interact with the Blockchain network. It enables the crypto users to send and receive major crypto-coins instantly. There are two types of crypto wallets in the marketplace. such as Hardware and Software cryptocurrency wallets. which are further classified into Web Wallets, Paper Wallets, Mobile Wallets, and Desktop Wallets. These wallets provide excellent service to the crypto traders in exchange platforms.

Starting your Crypto-based Business with crypto wallets can help the traders to make their trades easier. By integrating high-level security and advanced features in the crypto wallets. you can charge small fees when people transfer crypto using your wallet.

Cryptocurrency Crowdfunding platform

Similar to fiat currencies, digital currencies also act as a powerful tool to raise funds for startups and business class people. Basically, new investors frequently face rejection when their ideas aren’t valued. Secondly, not having sufficient funds for their projects. Therefore, crowdfunding platforms can be the best choice for raising their funds.

Crowdfunding is the process where a vast number of public audiences view your idea. If they are interested, they contribute certain funds for the project. Blockchain-powered crowdfunding business will enable investors from all backgrounds across global locations to back good ideas. Also, offer funds for your projects. As a startup, you can get started with a business that is designed to help people. Also, attract crypto-based funding from the broad set of donors.

Basically, there are three different types of crowdfunding modules in the marketplace. Such as ICO, STO, and IEO. These three have only some major changes but all are based on crowdfunding strategy. You can choose any of these methods to raise your funds in a hassle-free manner. If you have a crypto exchange by using the best-in-class you can enable the IEO module. which helps you to make more profits within a short period.

Sell products for bitcoins

If you already own a business, this idea can be much helpful and useful for you. It can be any kind of business. such as Clothing, Cars, Bikes, Old Gadgets, or anything. By adding digital currencies as one of the payment modes to your business. You can take your crypto-based business to the next level. This would be a risk-free task if you already have an effective E-Commerce website with you. The only thing you need to do is to change your mode of payment with bitcoins or other major cryptocurrencies.

Currently, most of the websites have started to offer a platform for people to buy and sell the products in exchange for cryptos. Also, most of the investors are completely interested in getting into the cryptos. Apart from having an E-Commerce website, you can even sell your products for cryptos. If you are in an area that is unaware of digital currencies. Then you can be the first person to initiate them with your lectures.

Final Thoughts

Bitcoins and other crypto coins are here to stay with the future. These digital currencies will be more popular in the upcoming years. If you are planning to start a business with bitcoins, then you can choose any of the given ideas. It would make you richer and you can make more profits in the industry.

Crypto coins are a recent trend in most of the digital trading platforms. Bitcoin is the first invented digital currency by using blockchain technology. Also, it is one of the prominent digital currency in the marketplace. This made many startups and business persons to start a business with bitcoins. Let us see some best profitable business with bitcoins. This might help you to reap more profits in the crypto industry.

Article reflects author's own opinion.

In any circumstances can CCG be responsible for potential losses regarding investments or services, either referenced by the author in the article or by any links provided.

This platform is intended to share educational knowledge, open for several external author's and in no way represents any financial advisement.

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