Ever since the world was first introduced to Bitcoin in 2008, the cryptocurrency industry experienced astonishing growth in unexpected ways. A vast number of Bitcoin business opportunities has also grown in parallel, many of which don’t involve trading the digital assets at all.
Depending on your budget, you may find that some of these business opportunities are the perfect fit for you. The following guide to bitcoin business opportunities explores a few various profitable ventures to consider.
Bitcoin Business Opportunities – Start Mining
Mining BTC is less profitable now than before, but it could be worth for the proper enterprise.
Due to the competitive nature of the mining sector, though, you will want to invest in some quality mining hardware such as GPU or ASIC mining chips before you get started. Both of these options will provide you with far better results than attempting the process from your CPU directly, and by joining a mining pool, you can leverage your efforts with other members of the pool to split the profits.
You will need to consider the electricity costs in your area as most mining rigs can consume around 1000W or more of power during operation. This can eat up your profits and make the entire venture a bust. Avoid this scenario by choosing a location with renewable or very low-cost electricity.
There is a serious demand for BTC-related merchandise. Everything branding the now famous BTC logo is a hot commodity in the market and BTC users can never get enough merchandise to show the world their love for Satoshis’ vision. Artists can create BTC-related shirts, posters, patches, screensavers, etc., and on top of being able to use the BTC logo freely, they can also utilize one of the many blockchain content platforms to offer their products securely.
BTC remittance services are seeing huge success globally. Countries such as India depend heavily on remittance payments, and depending on where you live, you may find that there is a serious need for this service in your area. The remittance industry handles billions of dollars of commerce, and BTC is perfectly suited to help people achieve a higher level of service when compared to the current business model.
BTC ATMs are considered by many as the missing link in the crypto space. These units are not overly expensive and you can make some serious profit by offering people the ability to purchase their BTC directly from the kiosk. The best part is; most states don’t allow these ATMs to handle fiat currency withdrawals, so you never have to worry about filling the machine with cash.
Any business owner can get directly involved in the crypto space by adding a crypto payment processor. Crypto processing has become very popular over the last year and most processors give you the ability to accept multiple types of crypto. The best payment processors even allow you to decide to withdraw your funds in BTC or fiat currency. This eliminates any loss of funds due to BTC market fluctuations.
To HODL or Hold On for Dear Life, is a phrase that describes the BTC investor who simply purchases BTC and holds it. There is some serious sense behind this strategy. There will only ever be 21 million BTC mined and there are already over 17 million in circulation. This means that the chances are very good that the price of BTC will continue to rise as this scarcity hits the mining sector.
Blockchain-based investment groups are popping up all over the world. Here, like-minded crypto-investors can meet up and discuss future projects and developments in the marketplace. Organizing a blockchain meet-up group can be very inexpensive, and the people you meet could end up becoming lifelong business partners should any of your joint ventures succeed. Most blockchain groups charge a small membership fee, which can also add to the overall profitability of this venture.
Final Thoughts: Bitcoin Business Opportunities Are Everywhere
All it takes is a creative mind and a simple understanding of how cryptocurrencies work to find profitable Bitcoin business opportunities in your area. The decentralized market is here to stay and all those who position their investments wisely are sure to reap the rewards as BTC continues to go mainstream.
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