Cryptocurrencies are here to stay and crypto-based business models are coming out almost every day. So, if you have a blockchain-based business proposition that is likely to make you successful, now is the right time to go ahead and start it. Here are some of the top crypto-based business ideas that are likely to be successful and the companies adopting these businesses range from fintech firms to healthcare companies.
- Cryptocurrency and altcoin development: In the past few years cryptocurrencies have started expanding in a big way and it has enabled users to conduct fast and secure transactions. So, many startups are keen to develop crypto coins which function almost like real coins.
- Cryptocurrency exchange: Investors will always look towards cryptoexchange platforms for trading. These platforms are the safest ways to trade crypto coins like the Bitcoin. So, you could start an exchange without much effort or investment. It can reach out to a big user base in no time. However, you must research the crypto coin you wish to enable trading in, and ensure that the country you are based in allows you to conduct such crypto trades. You can start a hybrid cryptocurrency exchange, decentralized exchange, or peer-to-peer centralized exchange.
- Cryptocurrency lending can be an excellent business model for those who have cryptocurrency to invest and support from crypto communities. You may start lending your crypto coins to those who need them quickly and charge them interest in return. There will always be people looking to borrow crypto coins and this is why lending can be a profitable idea.
- Cryptocurrency MLM Business can be another profitable venture; for instance, companies like Ethereum.cash, fomo5k, etc are all MLM businesses making good money. However, for this, you need to establish credibility and trust amongst investors. The best solution is smart contracts that ensure high security and trust to users.
- Bitcoin escrow business idea is an old but workable business model. It allows exchange of crypto coins among traders in front of the Escrow Admin. He handles transactions and there can be no hacks as it takes place through private keys. When you launch your escrow business you can reap big rewards with minimal effort.
- Wallet services: Crypto wallets are the safest locations for your crypto coins and this is one of the trending business models today. Since hacking has become more and more sophisticated, the demand for third-party wallets is high. You may offer crypto wallet services to an entire exchange or to individual traders separately. The idea is to gain more users and develop links with crypto exchanges that will eventually help you set up your cryptocurrency exchange business.
- Online gambling: This is a hugely profitable venture these days given the high numbers of gambling apps. Online gambling using crypto coins offers a secure and fast way of making money compared to traditional gambling. All transactions made through online gambling are stored in a smart contract.