Cryptocurrencies have existed for over ten years. And yet, for us, it is still something new and exciting. Blockchain technology has genuinely exploded our lives and business relationships in a good way.
Statista says that in 2020, the revenue distribution of the global blockchain market was distributed in favor of the banking industry, which has a market share of almost 30 percent. The flexibility and security that blockchain provides now are the best time to start bringing your business ideas to life.
Every business today can use blockchain for different purposes in different industries. In our article, “4 Ways Blockchain Technology Matters”, we have already described what blockchain technology is suitable for and what development prospects it has.
In this article, we’ll take a look at the best blockchain business ideas for startups.
1. Electronic commerce
First of all, blockchain can significantly affect the benefits of the e-commerce sector. Here you can create modern customer loyalty programs.
For example, you can create your own cryptocurrency or use existing ones to reward customers for your product reviews, testimonials, and recommendations. Then you can simply give them the opportunity to pay with this money for your goods and services.
2. Business for the exchange of cryptocurrencies
The currency exchange business is quite popular now, and the exchange of cryptocurrency is a new stage in the development of such a business.
At the same time, the owner of such an exchange has the opportunity to conduct safe transactions that everyone trusts. The way to make money here will be by charging a commission for depositing, withdrawing, and transferring cryptocurrencies.
Forbes writes that there are now over 1,600 cryptocurrencies in the crypto space with a combined market capitalization of over $ 289 billion.
Of course, if you want to do such a business, you will need the help of a competent lawyer, startup capital, and possibly a business analysis service.
3. Crypto gaming platform
A lack of transparency and insecurity has tarnished the reputation of online gaming platforms. At the same time, the market for such platforms and the demand for them is constantly growing.
It can be a successful startup if you can integrate such a gaming platform with blockchain technology and cryptocurrency-based gaming. Players on such a platform will be able to place bets, exchange, and buy cryptocurrency if they need it during the game.
4. Bitcoin vending machines
Creating a network of vending machines with bitcoin payment is a relatively fresh and exciting idea for a blockchain-based business. Cryptocurrencies, one way or another, are constantly being introduced into our lives.
The network of machines with bitcoins is convenient because there is no need to process cash, which means that more shopping centers or other sales points will be happy to install such machines at their place. And in such vending machines, it will be possible to sell anything, from food and drinks to newspapers and souvenirs.
5. Cryptocurrency charity
One good way to contribute to a better world is to start a charity based on blockchain and cryptocurrency payments. At the same time, customers will trust your business since many are confused by the opacity of the operations of ordinary charitable organizations that collect donations to a current account or in cash. That being said, even existing charities can help cryptocurrency raise even more funds for their needs.
6. Crypto crowdfunding
Crowdfunding is now actively used and implemented to raise funds for various startups and business ideas. Why not open the opportunity to collect finance in cryptocurrency?
Through such a platform, users will support innovative projects using various types of cryptocurrencies, and startups will receive broader support from the community.
7. Digital crypto wallet
The creation of such a crypto-wallet is a solution that will enable cryptocurrency owners and traders to have access to their savings using an encrypted key.
Thanks to such a wallet, it will be possible to receive and transfer cryptocurrencies to other users while doing it safely and reliably.
8. Crypto Recommendations Platform
The number of those who want to engage in cryptocurrency is growing every year. Many would like to have knowledge and guidance on how to build a reliable cryptocurrency investment portfolio.
Creating a platform that solves such issues and helps determine the investment can be a top-rated business.
At the same time, you do not need to be an IT specialist to create such a platform. It is enough to choose a reliable software development company, such as https://mlsdev.com, and order the corresponding software development services.
9. Cloud storage
Storing important information in the clouds has become our reality for a long time. However, many users are intimidated by the possibility that the storage server is unreliable or lacks transparent management.
The user wants to entrust his data to someone who will show the transparency and reliability of their service. Thus, a distributed ledger is suitable for storing important information while protecting it from tampering, unauthorized changes, and hacker attacks that lead to data loss.
10. Crypto-assist management services
If you are well versed in cryptocurrencies and the blockchain system in general, it will not be difficult for you to become the head of the asset management business. Your earnings here will be the opportunity to help other users use their digital investments effectively. That is, you are creating yourself as a financial operations specialist in the field of cryptocurrencies.
Such specialists are now also in great demand in the crypto business market. You can sell financial planning services, provide investment advice, teach cryptocurrency business, and analyze a client’s portfolio. Such a business is convenient because you can conduct it remotely, without physical contact with the client, which means that your clients can be located worldwide.
11. Freelance writers for the crypto industry
When you know a lot about blockchain and crypto business, you can share this information for a fee. You can become yourself or hire a team of freelance writers who will write cryptocurrency articles for blogs, online research and simply create content marketing for companies.
A good professional in the field can help a company build brand loyalty and respect by writing quality, well-informed copy. Specialized writers who know how to meet the needs of their clients can increase a company’s brand awareness, improve search engine rankings, and help write technical writing such as technical papers or tutorials.
Conclusion on the cryptocurrency business
In 2021, knowledge of the intricacies of the blockchain industry allows specialists in this field to start their own business or earn capital using their knowledge and new technologies. Above, we have described just a few ideas that can be built using cryptocurrencies. There are no limits for you to come up with something else if you take the risk.
It is essential to understand that today you can adapt almost any business to the cryptocurrency market. All you need to do is know clearly how virtual currencies and blockchain businesses work. Even if you do not currently own cryptocurrency but are actively interested in it, you can start building a successful business using it.
It is now clear that blockchain is the future technology and that its influence is likely to increase even more in the future. The spheres of its use have no boundaries: finance, insurance, medicine, real estate, etc. Look for more information about this unique technology and use your knowledge to start a profitable and exciting business that will take over the world shortly.