13 Must-Try Bitcoin Business Ideas
We will share over 10 bitcoin business ideas for your next start-up success story. If you’re not starting with these crypto business ideas, you are missing out.
- Start Crypto Day Trading
The easiest way to profit from blockchain currencies is with crypto day trading. You can start day trading with crypto within a few hours of setting up your accounts and wallets.
The main drawback is that it is quite risky. Perhaps you should not invest your lifetime savings in day trading as the crypto market is infamous for high and unexpected volatility.
- Start a Crypto Exchange
Your revenue will hinge on the transactional fees placed upon deposits, withdrawals, trades, or transfers. However, you should pay attention to user security and liquidity or ease of transaction.
Types of Exchanges
- Centralised Exchanges: for example, Binance, BitMEX, or Kraken.
- Decentralised Exchanges: technical infrastructure is decentralised.
- Hybrid platforms: combine centralised and decentralised implementations.
- Binary option Exchanges: the transactions on these either return or none at all.
- Clone Script Exchanges: plugins and APIs are required.
- Ad-Based Exchanges: you sell ad space on your platform.
- Sell Good and Services for Crypto
This option is the widest and most permissive of all crypto business ideas. You implement a platform for marketing and selling goods or services with bitcoin and other cryptocurrencies as accepted payments.
Take for example, Dropshipping. It is an order fulfilling method where you purchase products from third-party suppliers and ship them to customers.
You can proceed similarly with remote crypto casinos who have seen an upswing in recent times. While their viability as bitcoin business ideas has both advantages and disadvantages, they are worth looking into. It can prove difficult to set up. However, the platform will bring in profits if you have the resources.
- Crypto Payment Gateway
Depending on your target area with your gateway, you can accrue profit differently. You may either place transactional fees, ask for payment for creating an account or settle on merchant fees for partnered services.
- Crypto Asset Management Services
You need a good understanding of trading. Beyond personal crypto trading, you can manage others’ portfolios for a price.
You can model your business on more traditional management firms. Even though clients come with the funds for investment, you must adequately establish the risk tolerance and provide a portfolio suited for their needs.
- Crypto Loans
The idea is that you provide a cryptocurrency loan, place a repayment term and some interest.
The essentials of such crypto business ideas are the amount you can provide for loaners, accepted periods, whether you ask for interest in case of repayment on time, and the agreed-upon collateral.
Binance, for instance, has 65% collateral and no interest fees for early repayments.
- Legal and Accounting Services for Crypto Investors
You provide expert advice for services specialising in cryptocurrency transactions. While not being friendly to all bitcoin entrepreneurs, it provides enticing for those with expertise.
The growing market of blockchain technologies will ensure that you always have clientele while constantly requiring you to evolve and study emerging trends. Its popularity will bring a demand for certified public accountants, or CPAs, and legal experts.
- Crypto ATMs
You must invest in a series of crypto ATMs while doing market research to know the demand for cash-to-crypto conversions for their placement. You then charge fees for all completed transactions.
The main difficulty of ATM bitcoin business ideas is that the transactions may use bank accounts, but finally, complete users to a blockchain platform.
- Crypto Freelance Writing
You create a written content platform targeting crypto users' interests. You will need a certain amount of understanding of the current industry and staying up to date with current events.
- Sell Crypto Courses
Compile comprehensive and in-depth learning materials, find your target audience, sell your crypto courses, and you will bring in profit in no time.
If your information proves helpful to customers, the word will go around, and your business will grow.
- Blockchain Real Estate
One issue of a real estate business is the rate of transactions. Until recently, firms used the traditional Multiple Listing Services (MLSs) to obtain a common database of leases and purchases.
It is common knowledge that crypto transactions have a complete history of all transfers processed. The same may apply to real estate properties.
- Crypto Crowdfunding Sites
The essential is that you provide a soapbox for creators and entrepreneurs wishing to raise funds for projects and start-ups.
While the success of each fundraiser may vary, your platform will bring in profit, given that it gains traction.
- Go into NFTs
NFTs act as virtual objects with a fluctuating crypto-based value. The bitcoin business ideas around them could either concern the purchasing of tokens that could grow in value subsequently or the creation of your own.