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Top 8 Potential Cryptocurrency Business Startup Ideas

If you are an aspiring entrepreneur, have you considered starting a crypto business? The prospect of owning a crypto business startup might appear to be a daunting task but one that can fetch you high returns. Cryptocurrency is the new buzzword and people cannot wait to get their hands on digital currencies like the Bitcoin that are decentralized and not under government regulations. Here are some of the most exciting and lucrative cryptocurrency business ideas that you could choose from:

  1. Set up a crypto exchange: With the global pandemic having affected the world economy in unprecedented ways, the ways in which people conduct businesses have changed dramatically. In such a situation, a crypto exchange startup idea seems like a favorable option. You can establish your own platform for buying and selling digital assets securely and seamlessly; you get to charge your users fees for deposits, transfers, and withdrawals. You can choose from a variety of exchange types like hybrid exchange, decentralized exchange, centralized exchange, order book exchange, etc. The Coincierge.de provides an automated trading platform for bitcoin traders to trade bitcoin conveniently without investing much time.
  2. Cryptocurrency lending: Have you considered the possibility of earning interests by lending your crypto assets? If you are an expert in the crypto space and get a steady flow of these assets you can start lending your Bitcoins to those who need it in exchange for a fixed rate.
  3. Cryptocurrency MLM business: This is an excellent crypto business startup idea that refers to multi level marketing business. To set this up you have to establish your credibility and to bring trust you have to take the help of smart contracts. This is a profitable and secure way to start earning money for business enthusiasts. This area of business is a tad less competitive as most businesses are in a nascent state, and if you can successfully win trust, you can race ahead of others.
  4. Cryptocurrency escrow business: This is a traditional but effective business startup idea. This allows users to exchange cryptocurrencies with an escrow admin present who monitors and handles the transactions. Every transaction has a private key eliminating the threat of thefts and scams.
  5. Cryptocurrency Crowdfunding: Are you looking for fast fundraising solutions? Then crowdfunding is the best solution; just like traditional currencies, digital assets can also help you to raise funds. Most startups face the challenge of securing funds especially when their ideas do not appear enticing. Crowdfunding helps to showcase such ideas before the world to get funds from interested parties.
  6. Build a wallet: You can consider creating a wallet for storing and receiving crypto coins securely. There are different types of wallets to choose from, like cold or offline wallets, that are more secure, and the online or hot wallets that may be prone to hacks and thefts. For instance, you could decide to create a desktop wallet, mobile wallet, paper wallet, web wallet, or hardware wallet.
  7. Gambling: Have you considered starting a gambling website with smart contracts as a startup idea?  You will come across several such gambling and betting games on apps and websites, and today, cryptocurrencies are offering a far more secure and quicker way of gambling than traditional gambling.
  8. Business consultant: If you are passionate about the crypto world and have an in-depth knowledge of the way it works, why not become a consultant and advice others? You can offer investment advice, help others choose products and plan their investments, provide analysis of financial statements relating to cryptos, assist clients through coaching and arranging live sessions, etc.