TOP 3 promising areas for your crypto business

TOP 3 promising areas for your crypto business

We would like to devote the current article to the topic of choosing a niche for crypto investors. Suppose you have experience in trading, mining, other areas of the blockchain and crypto industry, and interested in developing and starting your own crypto business, because you understand how this works, you have a potentially interested audience, a potential team for project management and a huge desire to enter the industry from the side of business. What options for launching your project exist on the market and what to should you pay attention first of all, when you are already pretty tired of offers to invest in ICOs and IEOs and value your personal time and energy?

Thecoinshark team analyzed the presented ready-made software solutions for launching a new crypto business on the Internet and suggests stopping at the TOP-3 very interesting niches in the opinion of the publisher.

Cryptocurrency processing as your own payment business

The main goal of the business: to provide an online business with uninterrupted and high-quality service for conducting cryptocurrency transactions in various blockchains through integration through the API.

The business model includes earnings for:

  • commissions for input/output of cryptocurrencies, traditional currencies,
  • commissions for exchanging cryptocurrencies for cryptocurrencies and cryptocurrencies for traditional currencies,
  • fees for listing cryptocurrencies,
  • other variants of monetization 

To fully launch your own crypto-processing business, you will need to get advice on the legal assessment of starting a similar business in the selected region, as well as a reliable payment gateway, with which any seller can start accepting cryptocurrencies as payment. It is worth noting that this is not only about BTC and ETH – you can also accept payments in Bitcoin Cash, Litecoin, Dogecoin, Zcash, NEO, Dash, Ripple, Monero, Cardano and other popular coins. In addition to this business, we suggest you also consider launching your own cryptocurrency wallet with built-in functionality for exchanging cryptocurrencies for traditional ones, tied to cards, oriented both to individuals and legal entities. With the help of cryptocurrency processing, you can start accepting payments from around the world and take your business to a whole new level.

If you are not developing the product yourself, pay attention to the following important criteria for choosing a technical partner:

  • How long has the provider company been on the market?
  • Compare the demos of the leading vendors’ software products, do not hesitate to ask any questions. So you will be convinced of the competence of specialists and the company as a whole, as well as get a lot of useful industry information.
  • Does the provider pay sufficient attention to the security of the solution, in your opinion?
  • Are there any running copies of this business based on the developed product, and how quickly you can go online.
  • What technical support you will get after the launch, and how your partner can help you.

Cryptocurrency Exchange Launch

The main goal of the business: to provide online audiences – individuals (traders) and legal entities an uninterrupted safe service for transactions on the purchase and sale of various currencies and cryptocurrencies with the highest level of quality technical customer support.

The business model includes earnings in:

  • commissions for the input/output of traditional currencies, it is technically possible also on the input/output of cryptocurrencies;
  • commissions for exchanging cryptocurrencies for cryptocurrencies and cryptocurrencies for traditional currencies;
  • fees for listing cryptocurrencies;
  • other options of monetization.

To fully launch your own crypto-exchange business, you will need to get advice on the legal assessment of launching such a business in the selected region, as well as pay special attention to the selection of a high-quality crypto exchange software solution. So, for example, if you are not developing a product yourself, pay attention to the following important criteria for choosing a technical partner:

How long has the provider company been on the market?

  • Compare the demo versions of the software products of the leading vendors and the moment whether the product of the selected supplier-favorite has enough wide functionality in comparison with competitors
  • Which of the providers pays maximum attention to security solutions, conducts an external audit of application security?
  • Can the provider offer an additional crypto business protection package in addition to providing a software solution to secure your project?
  • Does the platform have a built-in algorithm to combat fraud, suspicious users, transactions?
  • Does the product have experience of real use within the framework of a launched exchange?
  • How fast can a provider launch a new exchange for you?
  • Is there full technical support at every stage of the development of your new business?

Launching an online auction or trading platform

The main goal of the business: to provide online audiences – individuals (traders) and legal entities a convenient and profitable service for conducting transactions for the purchase and sale of various goods, services, digital goods and assets, tokens, currencies, using auction models.

The business model includes earnings in:

  • commissions for input/output of traditional currencies, cryptocurrencies;
  • commissions from successful transactions and completed trades
  • commission for listing goods/lots at auction;
  • paid rates, paid tariff packages;
  • other options of monetization.

Monetization models can fundamentally differ depending on whether you plan to sell the goods yourself through an auction or launch a trading platform like AVITO, eBay, where you earn along with attracting a constant flow of sellers.

Examples of industries where auctions can be especially popular:

  • collectible goods;
  • car trade, real estate, a travel industry
  • trading in securities and tokens/cryptocurrencies.

Auction models can be different, bidding for increasing, lowering prices, with paid and free bets, tender portals, sales at fixed prices. You can make the project more unique by combining many different trading models, including selling at fixed prices under one domain. There is the possibility of integrating a cryptocurrency service for settlements in cryptocurrencies.

Choosing a technical partner, pay attention to:

  • How long has the company been in the industry, how many years has been involved in auctions?
  • Pay attention to the demo versions of software products of leading vendors, as well as their professionalism and ability to help with the selection of a software solution suitable for your business idea. As a rule, this is noticeable from the first 10 minutes of communication with a company representative
  • Does the product have a real experience of use?
  • How fast can a provider launch a new auction for you?
  • Is there full technical support at every stage of the development of your new business?
  • Does the provider supply an opportunity to adapt the auction to the needs of your business and what loads this provider held in fact? Since the auction project has its specifics, and, as a rule, bids are carried out closer to the end of the auction, the software solution must be resistant to heavy loads.

Summarizing, we want to note that whichever direction you choose for yourself as the primary one presented in the article, the advantage of this sample will let you successfully develop due to the economies of scale when connecting other business branches, because one way or another your audiences will overlap, adding synergies to your crypto ecosystem.

We welcome your comments, questions, suggestions. Please share with us the most interesting topic for you from these three, and we will prepare the next more detailed issue on this topic.

 

Information about the partner with whose support the material was prepared:

Austrian company A.R. Merkeleon GmbH was founded back in 2009. Initially, the company was engaged in the development of a platform for online auctions and trading platforms, but over the 10 years of work, the range of its services has expanded significantly by adding new software solutions for the crypto-commercial business: a turnkey solution for launching a crypto-payment and crypto-trading business. The company cooperates with Kaspersky Lab, paying significant attention to the security issues of turnkey solutions. Merkeleon’s 10-year product expertise can significantly reduce startup costs and shorten time to market for new companies, as well as help quickly expand the product portfolio of existing large brands. We examined the activities of Merkeleon in more detail in an article available at the following link.

The Coin Shark does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions. The Coin Shark is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the article.

Leave a Reply

Your email address will not be published. Required fields are marked *