Bitcoin Forum

Hi,

there is a lot of development in bitcoin industry in different jurisdictions including uk.

what are some best bitcoin ideas to execute in uk which don't need massive transactions to bank account yet profitable. May be any SAAS app ?

I think SAAS apps will work, you can charge a monthly subscription for an API type service or if it's more of a one time deal and you are relaying/moving transactions you can charge a per tx fee.

If bitcoin is spreading like mushroom on UK and there are few local exchange there. Then why not try to start a local exchange maybe a simple exchanger bitcoin>pounds(local currency). At the first place you may not get massive transactions but when that business started to bloom then expect that you'll be holding.

The key is adding value in your market. What is something that you and your customers may need the most in the placeyou are at. Take advantage of that need and you shall succeed.

Maybe creating an application with a list of UK exchange prices? Some that calculate the possible profits from buying from one and selling to another. You could compare the prices with other exchanges around the world to tell the users how much they can profit from buying outside and selling locally, etc.

As most exchanges already have open APIs for this kind of thing, I don't see it as a big of a deal to build.

It wouldn't be difficult to build, but I doubt that you'd get any decent amount of money out of that.
You're catering to a very specific localized subsection of Bitcoin users and have no clear way of making money.

I doubt you could charge anything for a service like that and other forms of revenue are limited when you're serving such a small niche audience.

To OP:
An exchange might be a good idea, if you have enough capital for that.

Look at this example, this is a Dutch/Belgian exchange that charges a premium for buying and selling Bitcoins instantly. They even have an option to send the payment to your bank account within 1 day (And having the money available to spend the same day)
It's this: http://www.bitonic.nl

This exchange is purely geared towards end users of Bitcoin, no option of really trading professionally on their website. And they have a pretty high volume.

I'm not sure if there's a similar service like that in the UK, if not, starting something similar might be a pretty lucrative endeavour.

To run an exchange especially the type you are writing about with fiat gateway will require special certification and even security, if the developer have huge capital he can go that route but if not I won't advice him to, or maybe develop a exchange service like similar to Shapeshift

I should think that something should be better, if micro transactions can be limited as in a offline ledger and then combined bulk transactions at the end of every month to limit bank transfers. Xapo wallets also do this with off-chain transactions, where they only push on-chain transactions through, once someone transfer their coins out of their system.

Once you made your decision, you should share with us on what you decided. ^smile^

You can trading by OTC or wallet.

that could actually be a good idea, you need to set some basic needs to assure the quality in the services

You would probably need a licence in order to do this.

Also you would need to comply with AML/KYC type requirements.

An idea that motivates you for perfection is the best idea

create a bitcoin website and start trading on it and this may bi a perfect idea to start a new business. i well try i dont have money to do this

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