Cryptocurrency is a digital currency that is now used as a medium of exchange. Bitcoin is considered as the first decentralized crypto. Presently, there are over 4,000 others, known as altcoins.
In this article, I be sharing some useful business ideas in in the crypto world that you can venture into.
This is one of lucrative ways to make money with cryptocurrency. It is synonymous with stock exchange. The chance of making a fortune through cryptocurrency exchange is high.
In cryptocurrency exchange market, buyer and sellers trade based on prevailing market price. Gains and losses are made based on the prevailing market conditions.
Areas you can venture into in cryptocurrency exchange market include:
- cryptocurrency brokers: you can venture into cryptocurrency market as a broker. That is, providing web-based cryptocurrency exchange platforms.
- direct trader: you can make a lot of money worker as a cryptocurrency direct trader. In other words, providing a platform that enables peer-to-peer trading. On such platform, sellers determine the prices. Sellers set the prices and buyers locate sellers with affordable price. Your job as a direct trader is to provider a platform where buyers and sellers meet.
- cryptocurrency fund: you can manage pools of cryptocurrency assets.
CRYPTOCURRENCY AS MEDIUM OF EXCHANGE
Cryptocurrency is a digital currency that is designed in such a way to perform better than conventional currency in many ways.
You can set up payment platforms for businesses that will accept cryptocurrency as a medium of exchange. You can set up POS terminals or online payment platform that accepts cryptocurrency.
Gambling has become money making venture across the world. However, conventional currencies are highly regulated by countries’ central banks as well as international organizations. In contrast, there are little or no institutional regulation on cryptocurrency.
As at June 2018, the price of one bitcoin for instant was 6,3387.31 dollars. And there are over 15 million of that in circulation. Hence, one can only imagine the monetary value of cryptocurrency.
Setting up casinos and other gambling centres that use or accept cryptocurrency could be a fast way to fortune. This means that high volume of money could be used without government restrictions and regulatory embargoes imposed on the use of conventional currencies. In addition, storing assets in cryptocurrency is a rational way of bypassing some economic woes like deflation, inflation, devaluation and exchange rate problems.
Already, cash for gambling is among the most lucrative and viable businesses across the globe. Introducing cryptocurrency into the mix could expose you to another dimension in the industry.
Cryptocurrency is not like the conventional money. In that, you can’t walk down the street to buy stuff with cryptocurrency. Providing a platform where cryptocurrency can be quickly (emphasis on quickly) converted to cash to meet immediate need could yield a fortune on a long run. Such platform could be both online and offline where cryptocurrency can be quickly converted to cash without going through the hustle of bargaining that exists between buyers and sellers and to meet immediate and urgent needs.
Conversational banks accept insurance certificate, bonds, stocks and so on as collateral for loan.
Providing financial service system that accepts cryptocurrency as collateral for loan could be a viable venture to go in.