An Insider’s View Of A Successful Bitcoin Startup

[MightyStorm]

Starting your own business is always difficult. Launching a cryptocurrency business amidst legal uncertainty and Bitcoin’s image problem is even harder.

 “We literally don't even have a website users can visit for information at the moment,” wrote a popular user named Rune on Bitsharestalk. “Don't get pissed at other people, our publicity sucks because our marketing sucks. We're working to improve it and the new website will hopefully change things and make people start taking us seriously.”

Indeed, downplaying the marketing side of things could spell the end of your business regardless of how good your product may be. CoinTelegraph spoke to Spanish-based digital currency exchange Exmo and California based Bitcoin API firm Gem on how prospective entrepreneurs can step up their marketing game, boost their public image and gain a foothold in the promising yet volatile industry.

Click image to read on...

[STAyre]

I'm not sure I quite understand that reference about "image problem"
and how Bitcoin is different from other non-fiat currrencies in that sense.

What do you think?

[Air_Superiority]

I'm not sure I quite understand that reference about "image problem"
and how Bitcoin is different from other non-fiat currrencies in that sense.

What do you think?

I think author just used bitcoin as a term for all cryptocurrency.

[Tenarlty]

Good and useful points, some of them at least, but one thing I'd found out, and I paid for this simple knowledge
in more than one sense, you have to honestly care, so your customers feel it, that's what makes them return to you.

[funkenstein]

Perhaps the reason why all five points will be ignored by anyone with a clue is that the premise is ill defined.

WTF is a "bitcoin business"?  

If I am selling tacos for 5 milllies each is that a "bitcoin business"?  Because most people would call it a restaurant.

One does not simply name a currency and then imagine that in so naming, one has a business.  Perhaps if one did do this, one would want to worry about name, social media, conferences, or anything else that would distract us from realizing that hey: we have nothing anyone actually wants.  

Image problem?  How about starting with a business plan?

[jayce]

Code:

It is no secret that Bitcoin has an image problem. This is why many companies like Circle, Roolo, Stellar, 
etc. have strategically avoided using terms like “BIT” in their name to sever any direct 
association to the infamous “drug-buying” cryptocurrency, bitcoin. Gem and Exmo are no different.

LOL
I think if we want to make a bitcoin-related business, we need change the negative perception people about bitcoin. Nowadays, there are many mass media exaggerate crime news that involve bitcoin as transaction medium. But, I'm sure bitcoin will get famous in few years and there will be many business that related to bitcoin.

[sshapiroNJ]

Image problem?  How about starting with a business plan?

My point exactly, and I doubt that a succesful startup like Exmo could have operated as long as they have without a proper business plan.

[hua_hui]

IMO the ways of running a successful bitcoin startup posted in cointelegraph is no difference from the traditional business! I just want to add one: the user experience and customer service! But it comes to bitcoin business, security is very important!

[Amph]

i don't agree on the part where they say that put on the same table, the suffix like "bit", "coin", "dark", and saying that they could have a bad impact, while it can be true for the latter, certainly isn't for the former

names that start like "bit" and "coin" are just abused too much and oversaturated, but has nothing to do with having a bad light for your service

exmo remind me of emo, not that great of a name, and gem is even more abused than bit...

[calfries]

I think what they were trying to say is that if you use a name with the same suffix like "bit"or "coin" you will automatically be associated with other companies
who have had legal/ publicity problems. This will naturally have an effect. Not on your service, but on your reputation through unjust stereotypes!

[Fabrizio89]

Lol at cointelegraph they surely are making a killing with all the posts getting spammed here for a few satoshis

[sugarfree]

Great advice, nice article. Good luck with further development of your business.

[666uazan]

i don't agree on the part where they say that put on the same table, the suffix like "bit", "coin", "dark", and saying that they could have a bad impact, while it can be true for the latter, certainly isn't for the former

names that start like "bit" and "coin" are just abused too much and oversaturated, but has nothing to do with having a bad light for your service

exmo remind me of emo, not that great of a name, and gem is even more abused than bit...

It never hurts to have a good original name. Not sure what you mean by "gem is abused".

[Amph]

i don't agree on the part where they say that put on the same table, the suffix like "bit", "coin", "dark", and saying that they could have a bad impact, while it can be true for the latter, certainly isn't for the former

names that start like "bit" and "coin" are just abused too much and oversaturated, but has nothing to do with having a bad light for your service

exmo remind me of emo, not that great of a name, and gem is even more abused than bit...

It never hurts to have a good original name. Not sure what you mean by "gem is abused".

well it's easy, in the alt section in 2013(maybe you don't know because you weren't there), gem was used for many coins, and it kicked off to a bit of confusion

also gem is used in many game too, to describe the resource inside it, and the list go on, it's one of those things that dies hard

[666uazan]

Whoa, that's some explanation - thanks a lot, I understand now.

[Exmo]

Great advice, nice article. Good luck with further development of your business.

Thanks for that.

We endeavor to do our utmost to bring a convenient, reliable and trusted service for the betterment of the cryptocurrency community.

Thanks for your interest in Exmo!

[NotAtOld]

Please let me know if you may be interested in any help with your blog, I'm a writer and I think I could be of help.

[GTA]

IMO the ways of running a successful bitcoin startup posted in cointelegraph is no difference from the traditional business! I just want to add one: the user experience and customer service! But it comes to bitcoin business, security is very important!

I would actually put security on top of the list, it would make sense I think.

[Exmo]

You will get no argument from me here. Security is all part of customer satisfaction.



Thank you for your interest in Exmo!

[manselr]

Perhaps the reason why all five points will be ignored by anyone with a clue is that the premise is ill defined.

WTF is a "bitcoin business"?  

If I am selling tacos for 5 milllies each is that a "bitcoin business"?  Because most people would call it a restaurant.

One does not simply name a currency and then imagine that in so naming, one has a business.  Perhaps if one did do this, one would want to worry about name, social media, conferences, or anything else that would distract us from realizing that hey: we have nothing anyone actually wants.  

Image problem?  How about starting with a business plan?

Good point. A bitcoin business in the strict sense of the world, SHOULD be a business that deals directly with the currency, like running an exchange, something like that. Or maybe that is incorrect too, since an exchange is an exchange.. the thing is it's as absurd as saying "I have a dollar business", but since bitcoin is new and different, the phrase "bitcoin business" caught on as a way to say "I accept BTC in my business".