Ever since the Bitcoin made its appearance in the crypto space a decade ago, cryptocurrency has become the buzzword of the millennials. Today, more and more entrepreneurs are looking for ways to use crypto assets to launch new businesses and projects. Here are some of the best crypto business ideas:
- Cryptocurrency Wallets: It is a well known fact that crypto exchanges can be highly prone to security threats and hacking attempts. So, when you buy crypto coins, you need to store these in reliable wallets. The experienced traders prefer to keep their coins stored in wallets that are not run by exchanges. This is a wise decision because it can keep your coins safe in case any crypto exchange gets hacked. Given the importance of crypto wallets today, it may be a good idea to start wallet-as-a-service platform. There are different kinds of cryptocurrency wallets namely, paper wallet, hardware wallet, web wallet, mobile wallet, and desktop wallet. You can start wallet services for those who need wallets to protect their crypto coins and in return charge fees for developing this and also for every successful transaction made.
- Crowdfunding: This refers to small investments but mass participation by average investors. Crowdfunding has grown into one of the most sought-after finance solutions in the past 5 years. For startups it is often rather difficult to get investors to invest. This happens when investors do not recognize the value of services or products you are producing. In such a situation, crowdfunding works like a huge pool where the common people can see if they like an idea and invest whatever amount they choose to get back returns later.
- Crypto Lending: This is a simple cryptocurrency business idea when you have a steady flow of cryptocurrencies. Millennials today hunt for avenues for making smart investments that entail fewer risks but guarantee high returns. Crypto lending lets you lend your assets to those who need crypto coins right away in exchange for a rate of interest.
- Cryptocurrency Exchange: This is an easy way to earn more profits through cryptocurrencies. Without exchanges investors cannot trade in crypto assets seamlessly. More and more new age investors are showing an interest in a diversified portfolio. The huge demands make it difficult for the existing exchanges to handle that entire load. So, there is an excellent opportunity for more exchanges to come up. Staring a crypto exchange business is therefore a simple solution for an entrepreneur because he can use a readymade exchange script which already matches all orders on a platform and execute transactions smoothly.
- MLM Businesses: Cryptocurrency MLM refers to the multi-level marketing venture that s ideally suited for entrepreneurs and startups. You will find plenty of these worldwide and to start one of your own, you must establish credibility and trust in the market. Trust can be achieved through smart contracts. Most MLM businesses today are Ethereum-based and starting a MLM business for making money works out to be a secure way to use cryptocurrencies.