TOP 5 Cryptocurrency Exchange Business Plan Explained

Prospective Cryptocurrency Business Ideas

We are already halfway through the year 2022. For now, the popular cryptocurrency Bitcoin has started surging for the past couple of weeks with accounting for over 12,837.90 United States dollars at the time of writing this article. 

It will remain a profitable business for those who are getting started with Cryptocurrency business. If you are stuck with the ideas, this article is here to help you with some futuristic Cryptocurrency Business ideas that would assist you!

Sell Items for Bitcoins

If you already own a business, this idea can be much helpful for you. It can be any business such as Clothing, Cars, Bikes, Old Gadgets, anything. By adding cryptocurrency as one of the payment modes to your business you can take your business to the next steps of transformation. This would be a super-easy task if you already have an E-Commerce website with you. The only thing you need to do is to change your mode of payment with cryptocurrencies. Since you have already had a set of customer base with you, this can be much beneficial one. 

Presently, most of the sites have started to offer the platform for people to buy and sell the products in exchange for cryptos. As of now, most of the investors are interested to get into the cryptos, and having such kind of business will be an added advantage. 

Apart from having a live E-Commerce website, you can even sell your goods for cryptos in your area. If you reside in an area that is completely unaware of cryptocurrencies, you can be the first person to initiate them with your lectures.

Real-Time E-Commerce Examples

  • Ubcoin
  • Forra
  • Overstock
  • Newegg
  • Gyft

Starting a Cryptocurrency ATM

If you have enough capital, then this is a more scalable task for you. This can be potentially profitable way to set up a business that involves cryptocurrencies by operating Automated Teller Machine (ATM).

The fee charged by ATMs will be around 5-10% per transaction, while in some cases it can be slightly higher. Operators who manage these ATMs in the best locations have higher chances of getting a return on investment for their initial capital in less than a year. Moreover, these machines don’t take much space and therefore the renting will also be less. However, the cost of the machine and loading the cryptocurrencies in it would cost a bit higher. It is expected that the future of banking would definitely be with Cryptocurrency ATMs.

According to the data from CoinATMradar, it has been said that for now there are over 5011 Cryptocurrency ATMs that are active across the world. North America tops the list with 73.9% of Crypto ATMs, while the United States with 60.8%, European Union with 22.1% and Canada with 12.4%. The rest of the Crypto ATMs are set up in the United Kingdom, Spain, and Australia.

Start a Cryptocurrency Exchange Business

This is the most popular yet profitable idea at this moment. A Cryptocurrency Exchange allows the buyers and sellers to trade their cryptocurrencies for other cryptocurrencies or fiat currencies like USD, EURO, AUD, INR, etc. When users trade on the exchanges, these trading platforms charge a percentage of the fee as a trading fare. In this way, the owner of the exchange is profited.

In recent times, it has become an easy task for an entrepreneur to get started with cryptocurrency exchange software development by using a white label cryptocurrency exchange software which would effectively match your orders on the trading platform and handles the transactions more secure. There are many Fintech companies that offer cryptocurrency exchange platforms based on your customized requirements. 

Once you build a user-friendly and intuitive cryptocurrency exchange platform with complete security features integrated, there are higher possibilities that more traders would approach your exchange. In case, if you are not sure of how to start a Cryptocurrency Exchange, this complete cryptocurrency business plan can help you get started. 

Cryptocurrency Crowdfunding Platform

Similar to fiat currencies, cryptocurrencies act as a powerful tool to raise funds for the entrepreneurs and business people. Newbie investors frequently face rejection when their ideas aren’t valued. Secondly, insufficient funds for their projects. Therefore, crowdfunding can be the best choice here. 

Crowdfunding is the process where a pool of public audience views your idea. If interested, they choose to contribute certain funds for the project. Blockchain-powered crowdfunding business will enable investors from all the background across global locations to back good ideas and offer funds for the projects. As an Entrepreneur, even you can get started with the business that is designed to help people and attract cryptocurrency-based funding from the broad set of donors.

Usually, a crowdfunding campaign will allow you to decentralize the complete funding process by gaining supporters to provide money upfront in an abundant manner. By accepting Cryptocurrencies as the mode of payment for your campaign, you can decentralize your process and reach a huge set of a global audience. Therefore, by using the best-in-class ICO which builds a Cryptocurrency crowdfunding platform, one can remain benefited.

Real-time Cryptocurrency Crowdfunding Model Examples

  • NXT — 1,265,555% ROI
  • IOTA — 424,084% ROI
  • Neo — 378,453% ROI
  • Ethereum — 279,843% ROI
  • Spectrecoin — 149,806% ROI
  • Stratis — 102,338% ROI
  • Ark — 37,805% ROI
  • Lisk — 26,367% ROI
  • DigixDAO — 12,044% ROI
  • QTUM — 9225% ROI

Also Read: How do cryptocurrency exchanges make money

Starting a Cryptocurrency Wallet Business

Cryptocurrency wallets will allow the traders to store their cryptocurrencies such as Bitcoins, Ethereums, Litecoins, etc. These crypto wallets also store both private and public keys and interact with Blockchain which enables the users to send and receive the digital currencies instantly. There are two types of wallets such as Hardware and Software wallets which are further classified into Web Wallets, Paper Wallets, Mobile Wallets, Desktop Wallets, etc which provide this kind of services to the traders.

Starting your Cryptocurrency Wallet Business with Digital Wallets can help the people to make their trades easier. By incorporating more security and advanced features in the cryptocurrency wallets, you would get paid by charging small fees when people use them.

According to Statistica, there are around 34,660,975 Blockchain Wallets across the globe in the year 2022. 

Summing up

Cryptocurrencies are here to stay with the future. They are expected to evolve dramatically and become more popular in the upcoming years. There are a plethora of industries that have started to venture into this technology to gain a potential set of benefits for their businesses. If you are one such Entrepreneur, I hope these cryptocurrency business ideas would have helped you with gaining some perception!