Running a Cryptocurrency based business is a lucrative trend that you can cash in right away. Without much ado, let’s dive into to know more about the Bitcoin business opportunities you shouldn’t miss out.
Businesses Internationally are aware of the growing number of users who have cryptocurrency and are opting in to accept these as a mode of payment. There couldn’t be a better time.
Though at present the prices fluctuate, in the near long-term it has the potential to be a globally accepted and widely used form of payment.
Some of the industries that have already started accepting cryptocurrencies, Short term rentals, and vacation homes, food, some modes of travel in certain countries.
Why starting a Business in the Bitcoin era is easy?
Starting a bitcoin powered business needs specialized software that integrates with the bitcoin wallet to accept payments. There are multiple ready-made bitcoin scripts that can help anyone willing to take the leap and offer the convenience of using bitcoins, to their user. Let’s have a look at some of these ready-made bitcoin business scripts below.
Bitcoin Wallet ( Start one Here)
A cryptocurrency wallet allows users to store bitcoins and other cryptocurrencies, whether to make a transaction by using it later on or to simply to store it safely. These wallets can be used to send and receive bitcoins. If integrated with a compatible eCommerce platform, it can allow the platform to accept bitcoin payments. As the platform owner, for sending transactions you could earn from the transaction fee.
Bitcoin MLM (Know more)
Multi-Level Marketing (MLM) or you may be familiar with the term, Pyramid scheme. The truth is MLM is one of the businesses which allows passive referral income as long as the network keeps growing. Under MLM. People invest in products or services and refer other close relatives and friends to purchase the same. Similarly, a bitcoin MLM script helps in managing the entire network and the product is Bitcoin. It’s easy to start one and quickly grow your network as people are looking to make money off bitcoin one way or another as they know it’s prospects.
Bitcoin lending business (Start one Here)
Lending and borrowing is a lucrative business, the concept of bitcoin lending and borrowing business allows customers to lend cryptocurrency for a fixed sum of profit/return within a specified interval. When a bitcoin is lent, you can use it to liquidate it and invest in businesses that would multiply the profit or loan it to users. The other aspect of the business is borrowing, for an easy monthly interest rate, you could loan it to borrowers who are seeking a loan for either personal reasons or for their business expenses.
Recommended Reading: How to start a Bitcoin business in one week?
Bitcoin Cloud mining (Start one Here)
Bitcoin mining is the process of cryptographically verifying the authenticity of the transactions done on the bitcoin network. Each transaction is verified so that there’s no falsification of data. For each successful verification, a bitcoin would be generated and rewarded to the miner. To mine bitcoins, you’d need hardware that is powerful (earlier, this wasn’t the case) else, you could even opt for cloud mining, where you can harness the power of supported cloud hosting providers to run the miner software on the cloud servers. This way, you won’t have to invest in hardware or electricity, the hosting company already takes care of these for you. For the business savvy, you could even run a cloud-based bitcoin mining business for others without actually having all the hardware. Tie up with hosting providers to offer this service and manage the business with ready-made cloud mining script like this (Check Here )
Bitcoin Exchange Business (Start one Here )
Bitcoin Exchange allows people to trade bitcoin with each other. The cryptocurrency exchanges function just like regular stocks and securities trading exchange and people who have traded stocks would be familiar with how it works. Starting a Bitcoin exchange business is easy, you can use any of the readymade cryptocurrency exchanges that are built specifically for this purpose. But make sure all the security measures are in place and have someone to monitor the exchange round the clock.
What is the future of Bitcoin?
Bitcoin is considered as one of the premier cryptocurrencies and though it faces temporary hurdles in people adopting it, Industry visionaries expect is to be accepted by all the countries world over for various purposes starting from food, hospitality, travel, healthcare etc. Bitcoin and other cryptocurrencies have a lot of prospects, especially there are more and more new cryptocurrencies that are being created for various purposes like cross-border payments, game cryptocurrencies, and other uses cases.
How easy is it to start a cryptocurrency based business?
In recent years, starting a business powered by cryptocurrency is relatively easier, compared to when it was in the nascent years. There are ready-made products that are available for you to start a cryptocurrency business. Beyond that, it needs to be backed by a strong strategy.
Is bitcoin wallet a cross-border payments wallet as well?
There’s a slight difference between the two. A bitcoin wallet is used to transfer between one wallet to another and cannot liquidate your funds or exchange it for a fiat currency if there is no Exchange functionality built into it. Though cross-border payments app uses blockchain technology, they are well integrated with payment gateways to add liquidity.
What is a smart contract?
A smart contract is a programmatically coded contract that gets executed by itself when the conditions mentioned in it are met. For example, a smart contract written for an eCommerce scenario executes payment once the product is delivered. There are a variety of applications for it.
If you’re looking to start a cryptocurrency based business, these scripts might help.