What are the best crypto business ideas? Of late, cryptocurrency has gained immense popularity and a fair bit of acceptance as well.
It is also considered to be the potential alternative to traditional finance and can even disrupt the fiat currency market as well.
It is for this reason a lot of entrepreneurs and startups have come up recently to make the maximum profit from the opportunities that the digital finance market provides.
If you want to start such a crypto business of your own there are several other alternatives. Do not possess the wrong idea that this is the business for those who are well abreast with the technology behind it or for those who have a lot of resources.
Starting and continuing a crypto business is pretty easy provided you pick up the right type of business and pursue it diligently.
This will enable you to initiate your business and make profits quite easily. Check out Crypto Dollar Cost Averaging Strategy.
The good thing about cryptocurrency business is that even in this crucial market situation after the coronavirus, it has not let the investors down when all other traditional businesses have experienced downtrends to variable extent.
- 19 Best Crypto Business Ideas
- 1. NFT or Non-Fungible Token Business
- 2. Payment Gateway Business
- 3. Crypto Exchange Platform
- 4. Crypto Loaning
- 5. Crowdfunding
- 6. Blockchain Business
- 7. Crypto ATM
- 8. Create dapps
- 9. Micro-transaction Supplier Business
- 10. Crypto and Blockchain Books
- 11. Be a Blockchain Business Expert
- 12. Create Tokens
- 13. Bitcoin Miner
- 14. Binary Trading
- 15. Crypto Wallet Service
- 16. Cybersecurity
- 17. Bitcoin Broker
- 18. Crypto Industry Tracker
- 19. Multi Level Marketing
19 Best Crypto Business Ideas
If you are not sure what type of crypto business to start, here are a few ideas that are quite profitable and some of them are quite easy to carry on.
The list however is not exhaustive or in a particular order of ranking.
1. NFT or Non-Fungible Token Business
If you are looking for one of the best options of crypto business to start, NFT or Non-Fungible Token business is the one you should consider.
This business is related to art and therefore if you have some creative idea you will make the best out of this opportunity.
If you focus on the multiple source funnels it will prove to be more productive.
2. Payment Gateway Business
In this digital world, you can start a digital payment gateway business as well. This is in vogue now and you can see several major brands including Amazon and Walmart accepting crypto payments.
Several businesses now have integrated a crypto payment gateway with the delivery check-ins and the POS machines as well.
Since this trend is rising there is a rising demand for a reliable crypto payment gateway as well by a large number of stores to promote their business.
If you provide them with a gateway with multi-cryptocurrency support at an affordable rate, you can make a lot of profit.
3. Crypto Exchange Platform
Starting a cryptocurrency exchange platform is also a good business provided you have some knowledge as well as meet the requirements of it.
These exchanges usually work on blockchain technology which allows people to exchange different crypto coins anonymously, easily, quickly and safely.
You can start a centralized or decentralized trade exchange or a hybrid exchange. Since you will start from scratch, choose an option that fits your budget and interest.
And, it is better to start with a clone script of a popular crypto exchange such as Binance, Coinbase and others.
4. Crypto Loaning
This is another good business to start with. It is quite profitable considering the current situation and may even provide you higher returns compared to crypto holding and exchanging.
All you need is to have an account with a crypto exchange. Once again, since you are just starting your business, keep your interest rate low to attract more traders.
However, this business is good only when the crypto progression is higher.
Crowdfunding is an alternative to venture capitalism. It is done to support a business with the capital required to start it.
Crypto crowdfunding is a good concept, though nothing new. You can do this through initiation of crypto tokens via ICO, STO or IEO.
Out of these ICO or Initial Coin Offering is relatively easy because Initial Exchange Offerings and Security Token Offerings will need a much robust smart contract infrastructure and will involve much stricter regulation processes and can be done by only the verified traders.
6. Blockchain Business
Blockchain technology is what runs the crypto market which enables encrypting the data to offer maximum security during and after a transaction is made.
It uses private and public keys as well as an automated management system which is almost impossible to hack.
You can start such a business of your own but make sure that you hire one of the best blockchain development companies for that.
7. Crypto ATM
You can also initiate a crypto ATM of your own to help the crypto exchange platforms expand their business.
This however will need some significant amount of money to start.
8. Create dapps
You can also create dApps or decentralized applications. These are basically computer programs that may result in impulsive spikes in the demand for blockchain networks.
These apps also help in keeping a proper track of all transaction details and information.
It uses an asset framework and a data set that is decentralized which empowers crossway payment transfers with its specific functions sans any outside interference.
9. Micro-transaction Supplier Business
Micro-transactions are very common in the crypto industry because traders usually rely on these transactions to make profit at the end of the day.
It is an effective and productive trading option for those who do not go for bulk trading, derivatives trading, marginal trading, or any other forms. Micro-transactions are also very safe.
You can be a micro-transactions supplier to help people who want to follow this route.
However, you must make sure that you do the trading for them diligently and successfully and earn your remuneration in return.
10. Crypto and Blockchain Books
If you have adequate knowledge about cryptocurrency, the market and blockchain technology, you can even start writing books on it and sell them at huge profits out of the sales.
However, you will need to make sure that your book is unique and the content will make it stand out from the rest.
Also, make sure that you include unique information and write it in simple words so that both novice and veteran traders can easily understand what you want to say when they read your book.
11. Be a Blockchain Business Expert
If you have enough expertise in blockchain and cryptocurrency, even in one or a couple of specific areas of it, you can start your business as a blockchain expert.
However, you should be a visionary and know the exact ways to make a business earn more profits with your tips and advice.
You can help the business class folks and companies to execute blockchain and other technologies properly, help them in making an ICO or airdrops, and even create trades for them.
The opportunities here seem to be endless, and of course, very profitable.
12. Create Tokens
Token creation is also another good business to start to step into the crypto world. These are pretty similar to digital assets and can be created easily by an individual.
After you are done with the token creation process, you will however need to take part in a crowd sale procedure for fundraising.
The good thing is that it will raise the chances of your token to get listed in the crypto exchanges.
However, you should know and follow the best ways to create a crypto token.
13. Bitcoin Miner
Bitcoin is one of the most popular crypto assets that have a large market cap and is widely used in almost every available crypto exchange.
Bitcoin miners are the backbone of this coin and are the ones who are involved when one user makes a transaction with another.
Your job as a Bitcoin miner will be to simply validate the details of the transaction made by the users.
It is only after your validation the transaction will be considered to be completed.
However, you must possess exceptional knowledge about blockchain technology and also have adequate programming skills.
14. Binary Trading
This is a good option which involves a form of investment. You can make such an investment using different assets such as stocks, commodities, and even cryptocurrencies.
In this business you will make your income through the predictions you made for the price fluctuations of a particular crypto coin in which you have invested.
If your prediction is correct then the earnings can be huge. This can be made within a very short time because the rate of interest is much higher as compared to other forms of investment trading.
However, the downside of this business is that if the predictions go wrong, there is a high chance of losing the money.
Therefore, proper and sound technical analysis is required to make an accurate prediction of the price of a coin.
15. Crypto Wallet Service
You can even start a business of crypto wallet service, if you have the means and knowledge, and make quick and easy profits.
You can integrate your wallet with one or several reputed and popular crypto exchanges so that it results in an excellent user commitment.
Ideally, there are two specific types of crypto wallets namely Hot and Cold wallets. These are available in different forms such as desktop wallet, mobile wallet, web wallet, paper wallet, and hardware wallet.
You can earn money through commission from the users of your wallet as well as different charges such as maintenance, brokerage and more, periodically.
Since crypto transactions are typically made online there is a lot of insecurity involved in it.
This may cause loss of money while making a transaction, courtesy the hackers. You can provide cyber security to prevent such incidents from happening, if you have a good team to support you.
Also, you will need to stay updated with the new viruses and threats of attack as well as the tools to use to detect such threats.
17. Bitcoin Broker
There are lots of Bitcoin users out there. You can earn a lot by being their broker through commissions on trades made through you.
The job is much similar to a stock broker and therefore such experience and knowledge will help a great deal in this business.
There will be no dearth of customers for you because Bitcoin has a very large user base all over the world and the coin is known to show notable and frequent price fluctuations.
You can capitalize on these aspects to make a handsome profit.
18. Crypto Industry Tracker
You may start a business as a crypto industry tracker if you have adequate knowledge about the technicalities of crypto market and blockchain technology.
You will however need to know everything about the latest news and happening in the circuit and also know how to use the best tools to track the price movements.
You can then post your findings on social media platforms or websites. If you can garner a reasonable engagement from your posts, several crypto development companies will approach you for ads and coin issuers will use you for branding and offer free coins in lieu of that.
19. Multi Level Marketing
No business can survive with proper marketing and a crypto business is no exception. You can do their marketing at a multiple level to promote their business and currency.
You can organize different promotional activities if the company is in the initial stage or employ advanced marketing strategies and SEO techniques to rank their sites higher in the SERPs.
This way you can make a lot of profit through service fees and even through brokerage and commissions.
Mentioned above are just a few ideas to start a business related to crypto assets that are quite profitable.
Choose one that suits you the best but make sure you do some additional research to know the risks, strategies to follow, and tools to use.