Top 25 Bitcoin Business Ideas From the Pros
Recent developments in the cryptocurrency industry have given rise to many new ways for people to make money. Many business opportunities exist that support the cryptocurrency sector. We spoke to experts about how to integrate bitcoins and other cryptocurrencies into a business.
Here are the top 25 best ideas for bitcoin businesses from the pros.
1. Build Decentralized Apps
Emin Gun Sirer, Professor & Founder, HackingDisturbed.com
Because Bitcoin Core (BTC), which is unstable and can charge high fees, is not a good choice for a business. Also, the developers don’t have a clear and justifiable roadmap for its future development. They can and have altered the technical roadmap in order to make certain business models unusable. It is better to create decentralized apps on smart contract platforms like Ethereum or Tezos. Peer-to peer insurance is a promising area.
2. Dropshipping business
Roberto Garvin, Co-Founder, Mofluid
Dropshipping is gaining popularity recently. This allows businesses to reduce inventory and save money. Dropshipping allows producers to deliver the products directly to their customers. Both Dropshippers as well as customers find Bitcoin attractive. Dropshippers now have the ability to tap customers who want to buy bitcoin. This adds to their existing customer base. Although they do not trade directly in bitcoin with customers, dropshippers can tap third-party bitpay service provider to make transactions easy.
3. Cybersecurity System to Protect Bitcoin Transactions
Sophie Miles, VP Marketing & Co-Founder of CalculatorBuddy.com
Because cryptocurrencies are digital assets that are more difficult to track than traditional payment systems, hackers all over the globe have found ways to steal some cryptocurrencies from their homes. The future of the bitcoin industry will be dominated by companies that provide cybersecurity tools for transactions. Secure systems require other systems to guarantee security. This should be the case in companies that study hacks and make a value proposition against them.Free ebook: How to Start Your BusinessStep by step blueprint that will show you how to get from idea to launch within 30 days Download My Ebook
4. Start a Cryptocurrency ATM Network
Cory Sarrett Consultant, Pelicoin
It is possible for cryptocurrency ATMs and others like them to become more widespread. A cryptocurrency ATM has many benefits. It is convenient, quick, familiar, and offers the same benefits as regular ATMs. It is also the easiest way for someone to start using crypto. We expect more people to use cryptocurrency ATMs such as ours as cryptocurrency grows. It’s possible to make cryptocurrency more accessible and allow users to shop more often while still using it for daily transactions.
5. Keep Your Cryptocurrency Safe (HODL).
Ben Marks, Founder & CEO, Blocktrade Capital
The best way to make money with digital currencies is to hold onto your cryptocurrency. The history of cryptocurrency markets has seen nine major crashes, but they have always rebounded to new heights. On average, a crash resulted in a drop of 64 percent in price. More than half of the crashes lasted 50 days or more. Even though HODL can be more tedious than other investment strategies, the history of bitcoin has shown that there is a nearly 100 percent chance that prices will rebound after this bear market.
6. A Bitcoin Vending Machine is an option
James Russell, Founding Founder of FindBitcoinATM
The entry to the world of Bitcoin businesses is relatively simple with bitcoin vending machines. Bitcoin vending machines are smaller than traditional vending machines. This is because they don’t require a cash processing machine and have fewer internal parts. Due to their small size, many convenience stores, cafes, and train stations have been able to accommodate them in their existing businesses. It is up to the business owners to decide what products the machines will sell. Existing machines can sell everything from candy, drinks, to personal hygiene products. These types of vending machines will continue to grow as the world moves to cashless society.
7. Cryptocurrency can be used to build a real estate company
Elie Rieder, CEO, Castle Lanterra Properties
Recent research has shown that cryptocurrency is preferred to investing in real estate by over 21 percent of UK millennials and 25 percent in the U.S. Fundamentals are important for millennials who may be uncertain about their bitcoin investments. You should look for a real-estate investment company that accepts cryptocurrency payments. Better yet, you can invest in real estate funds which offer a proven method of investing that is socially responsible.
8. Start a Cryptocurrency Exchange Service
Ryan Orbach, Co-Founder, Bx3
Bitcoin is a peer-to-peer, borderless currency that allows users to trade the asset with any currency around the world. This allows users to seamlessly switch between currencies, without the delays associated with international bank transfers. One service provider could set up a system that allows users to buy bitcoin in their native currency and then trade it on another exchange for the desired currency. This would enable currency conversion to take place almost instantly, at a low price and with minimal fees.
9. Start a Bitcoin Consulting Business
Richard Burton, Founder, Balance
Learn how to store, buy, use, and manage bitcoins and other cryptocurrency for businesses. Many people use cryptocurrencies such as bitcoin right now. Many businesses will soon follow suit. They will be looking for answers to their questions and will pay for good advice. You can help them set up an account at Coinbase.com or to pay for coding work with Gitcoin.co and then account for their holdings via TokenTax.us. Not only will they be able to make a lot of money, but they’ll also appreciate your assistance.
10. Promoting Blockchain Products Online through Affiliate Marketing
Evan Maslennikov, CEO, RunCPA
Promoting blockchain products is one of the best ways to build your business around bitcoins. Every token holder and client is more competitive due to the increasing number of entrepreneurs who are trying to make a living in crypto. Many companies will pay to increase their user base by registering new customers and registering them on their site. Your company will provide a unique link to your product, also known as a referral link. You would be paid by the company owner if they knew you attracted these users. This can be done via blogs, social media or by placing ads online.
Ofir Beigel, CEO, 99Bitcoins.com
There is a lot of potential for growth in the education niche due to bitcoin and cryptocurrency being such complex topics. It’s a great way for visitors to find you by creating a website, YouTube channel or podcast. These can then be monetized via affiliate programs and ads.
Stan Bokov, COO & Co-Founder, TradingView
You can capitalize on volatility in a matter of days, weeks, or months. The ultimate goal is to make a profit and sell when it happens. Although trading cryptocurrency can be risky, it can yield big results if you are able to time your timing well.
13. You can start a money transfer business using bitcoins
Chase Hughes, Vartheta Partner
A money transfer or distribution software company can allow you to use bitcoins and other cryptocurrency. This involves receiving and sending money via cryptocurrency or bitcoin. This money can be converted by the receiver to cash, or any other medium through ATMs.
14. 1. Open a Merchant Wallet Account
Evan Tarver, Editor at Fit Small Business
To accept bitcoin payments, one of the best ideas for a bitcoin business is to open a merchant account. Accepted bitcoins are converted automatically to cash by merchant wallets, which reduces volatility and gives your customers another payment option. Although it may sound strange, PayPal did the same thing. You don’t want your company to be the last to accept bitcoin.
15. Create an Industry-Specific Utility Token
Dr. Michael Yuan is Chief Scientist at The CyberMiles Foundation
None of the cryptocurrencies, such as Ripple or bitcoin, are currently being used as an everyday currency. Soon, however, we will have hundreds of highly valued currencies that correspond to different networks (e.g. an e-commerce network or a P2P car-hailing system, etc.). We have many highly valuable national currencies today, as well as valuable company stocks. The same applies here.
Tyler Browne, owner, To the Cloud Vapor Store
Bitcoin can be used by almost any ecommerce platform. If your business operates a herbal vaporizer (ancillary cannabis products), bitcoin could be a way to accept payments, as PayPal and regular credit cards have very strict regulations.
17. Native tokens can be used to reward customers
ApolloX CEO Will Li
There are two ways that e-commerce shops today can integrate cryptocurrency into their business model. One is to use native tokens as a reward for customers who refer others and provide reviews. Customers will be rewarded with tokens for honest reviews of shops and the products they use. This will increase organic traffic to your site, as well as providing feedback to potential customers. These tokens can be used to purchase funds for your shop, or at other shops depending on the type of token.
David Johnson, CEO, Latium
You can make a living online as an influencer by accepting cryptocurrency as payment for features on your channels. You will be one step ahead of your competition if you accept digital currency payments from companies. Over the past few decades, the global economy has changed dramatically. There is a huge shift from traditional business models to digital ones and this trend continues to grow each year.
19. Create content for Cryptocurrency blogs
Henry Stanley, CEO of ICOAxiom.com
There are many ways you can make money with the cryptocurrency trend. You can make money writing content for cryptocurrency blogs like Steemit.com. Answering surveys on websites such as Earn.com can help you earn bitcoins.
20 Blockchain can be used as a platform for sports gambling
Mark Herberholz is VP Product at BlitzPredict
Blockchain technology can be used to help sports betting professionals succeed by providing a platform that allows experts to offer picks that can be tracked and recorded on blockchain. This allows for a transparent, uneditable record of wins and losses. Integrating third-party software can be used to add bitcoin exchange functionality to your sportsbooks. This allows you to place orders in real time and place live wagers with stop limits, just like the NYSE.
Asaf Fybish, Founder, Guerrillabuzz
Over 90% of bitcoins are currently held as a store value. This means that the majority of people who own it aren’t using it to purchase anything. Although there are many technical issues that the community faces in order to make it possible, we are seeing great progress. We hope that bitcoin payments will become a global standard and that you can start a Bitcoin-friendly company that could give you an advantage over your competitors.
99 Bitcoins says that another bitcoin business opportunity is to buy domain names for bitcoin and later sell them. Domain names are highly sought after due to the growing popularity of bitcoin. It’s a good idea to grab the most popular bitcoin domain names so you can take advantage of this opportunity.
23. Start a Bitcoin Mining Business
Trading is more difficult and less comfortable than mining. Bitdeal.net recommends that you start your own bitcoin mining company to help others mine their bitcoins. You’re also making money from it.
Digital wallet for cryptocurrency is an online secure software that allows users access to their cryptocurrencies via a private key. You can also send and receive digital currency. Socialnomics.net says that creating a digital wallet platform can be a great place to start a business related to bitcoin.
Blockchain technology is gaining popularity and enthusiasts are eager to learn more about it. It is possible to write books and ebooks on blockchain and cryptocurrency, make a profit and share your knowledge with others. IOTcoresoft.com recommends writing books that teach specific businesses how to use Blockchains.
Experts believe digital currencies will continue to evolve and grow in popularity. You can take advantage of this opportunity to get ahead and consider various business opportunities with bitcoin. For more ideas and inspiration on bitcoin business opportunities, check out these expert tips.
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