Bitcoin has proven itself – despite ups and downs in the market, the cryptocurrency that started it all has shown that it has incredible staying power. It is also increasingly popular with both consumers and businesses. In fact, Bitcoin now forms the foundation of multiple business opportunities.
What should would-be entrepreneurs know? What are the hottest Bitcoin business opportunities out there today? We’ll cover some of the most profitable, the easiest to start, and the most flexible choices below.
The original Bitcoin business opportunity, mining is still one of the most popular ways to make money with cryptocurrency. However, this is not somewhere that you can go it alone. Solo miners rarely do much other than strikeout, so you will need to join a Bitcoin mining pool. Be aware that the money earned is divided across the pool, though. You will also need to purchase top-tier equipment, have the right Internet connectivity, and more.
Create an Exchange Platform
If you have the development chops (or have a business partner who does), you can get in on the action without having to worry about building a mining rig. Many people want in on the Bitcoin phenomena but cannot afford to do so through mining or in other ways. Creating a cryptocurrency exchange platform allows people to buy fractions with other cryptocurrencies, as well as with national currencies via services like PayPal. Note that because there are quite a few such platforms already in operation, you will need to make yours stand out through innovative features that ensure ease of use and a great user experience.
More and more businesses are accepting Bitcoin and other cryptocurrencies. Consumers, likewise, are adopting these new currencies on an increasing basis. However, there isn’t always an opportunity to exchange currency for cryptocurrency. A Bitcoin ATM business is one solution that offers ease of access, flexibility, and tremendous growth potential. These ATMs allow your customers to buy or sell their bitcoins or redeem vouchers. They can also be placed virtually anywhere in your local area, from shopping malls to airports and even gas stations and convenience stores.
Because of the growing popularity of Bitcoin, business and property owners are often eager to rent space for these ATMs, meaning that you will have an easier time with placement, too. Finally, Bitcoin ATMs are easy to use. Your customers simply scan their wallet on the machine, inserts cash into the currency recycler, and bitcoins are transferred to the customer’s wallet. It’s as easy as that.
Peer-to-peer lending, better known as P2P lending, is a growing option for many people who want to borrow money but either do not qualify to work with conventional lenders or prefer not to do so. You’ll find many different platforms that support P2P lending and work to connect lenders with borrowers, or lending groups with projects that need funding. Cryptocurrency like Bitcoin can be an important addition to this growing range of services. With a Bitcoin-based P2P service, you would focus on providing loans or lines of credit for Bitcoin owners and then earn interest on those offerings.
Bitcoin Education Provider
The rapidly growing interest in Bitcoin has caught many consumers unprepared. They are interested in getting into cryptocurrency, but they have no idea how to do it. You can turn this into an effective business opportunity that allows you to set your own hours and work wherever you want by providing education and training to your customers. You can offer everything from the basics (what is Bitcoin?) to more advanced options, such as trading strategies, and more. With a little time and passion for cryptocurrency, you can bring education to other people.
Which Is Right for You?
As you can see, there are plenty of different options when it comes to Bitcoin business opportunities. However, they may not all be well suited to your needs. Compare your options match your passions and interest to the business opportunity. With that being said, some business options are better suited for those who want to tap into the ongoing interest in Bitcoin, as well as enjoying flexibility and control over their lives.