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Author Topic: How can I start a business that offers crypto services?  (Read 1096 times)
salty
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July 16, 2019, 09:30:31 PM
 #41

What would the process look like?

If I registered a business name and then got some business loans to buy more coin. It would be a HODL business. Or a boutique crypto investment firm. I just want that loan to buy and hold onto a bunch of coin and watch it soar. There would eventually be a legit service to offer through the business but at first I just want a giant loan to buy a bunch of bitcoin.

Sound idea? Yes or no
Taking a loan for the purchase of bitcoin is not quite the right idea.All cryptocurrencies have one big disadvantage-volatility.Never in my life will I take a loan for the purchase of cryptocurrency.
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July 17, 2019, 12:01:48 PM
 #42

So all you want to do is to create a 'business investment', where you collect money from people(?) and make a profit from it(?) ok so how do you plan to generate revenue to provide payment interests to the client? Especially if you only hold the bitcoins. Because the money doesn't grow on tree but Bitcoin too
And all this starting with a loan you took to start? Good luck to find a "Giant loan" to buy bitcoins but better you do nothing honestly
Yeah especially not always the price of bitcoin has increased right, you don't always promise profits to each of your customers. in my opinion making a that kind of business is not suitable, crypto investment is full of risk, and you cannot guarantee profits to your customers because prices will not always be positive
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July 17, 2019, 05:18:57 PM
 #43

Businesses with cryptocurrency acceptance weren't not that popular around the world, as the technology backing is something new for the business people. Another side people fear about the volatility with cryptocurrency that isn't good to be with businesses. The best way to offer crypto services is by adding cryptocurrency payments gateway to the common businesses that people own. Initially there won't be big profits, when days pass surely it'll get good return as more and more people getting into cryptocurrency usage.

I think volatility is not a problem if the business is based on full cryptocurrency. Take for example the loan business, when someone lends at a low price and returns with a few percent interest + the price of the crypto rises, then that person will have a double profit. But if the price drops, he doesn't lose much because he will again lend it with crypto again and while waiting for the price to rise again. If we think of this kind of business does not lose, even though BTC goes up and down, we only hold and invest while doing business rather than our bitcoin not moving in the wallet.
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July 17, 2019, 05:36:41 PM
 #44

Businesses with cryptocurrency acceptance weren't not that popular around the world, as the technology backing is something new for the business people. Another side people fear about the volatility with cryptocurrency that isn't good to be with businesses. The best way to offer crypto services is by adding cryptocurrency payments gateway to the common businesses that people own. Initially there won't be big profits, when days pass surely it'll get good return as more and more people getting into cryptocurrency usage.

I think volatility is not a problem if the business is based on full cryptocurrency. Take for example the loan business, when someone lends at a low price and returns with a few percent interest + the price of the crypto rises, then that person will have a double profit. But if the price drops, he doesn't lose much because he will again lend it with crypto again and while waiting for the price to rise again. If we think of this kind of business does not lose, even though BTC goes up and down, we only hold and invest while doing business rather than our bitcoin not moving in the wallet.
Investing do really correspond with the possibility on making money I do disagree on what you have said that bitcoin does sit on wallet doesn't give out profit.
The means of investing is increasing way more than the possibility of profits than on sitting it but well it do always tied up with risk.
For op,its impossible for you to get up some load with other people just to make your own business.

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July 17, 2019, 05:56:08 PM
 #45

I don't quite think too many people will be willing to give out funds to a business based on crypto services and that is because of some reasons of which volatility is the most prevalent of them all,
You cannot simply collect loan and hodl them, things can go either way, either high or up, putting you in danger of not being able to repay the loan.

There are a lot of criterias to be met before loans are given out, and the new business your proposing will be unable to meet them.

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July 17, 2019, 10:57:52 PM
 #46

It's very difficult to open a business related to crypto. because some rules do not provide space for crypto users. especially the Government still prohibits the use of crypto as payment.
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July 17, 2019, 11:27:58 PM
 #47

What would the process look like?

If I registered a business name and then got some business loans to buy more coin. It would be a HODL business. Or a boutique crypto investment firm. I just want that loan to buy and hold onto a bunch of coin and watch it soar. There would eventually be a legit service to offer through the business but at first I just want a giant loan to buy a bunch of bitcoin.

Sound idea? Yes or no
The point is you want to borrow money for a cryptocurrency investment in the name of the business you make, what if your investment or purchase will make a profit? I think you have to understand the burden that occurs when you have a debt. In the hodl there is no time when you sell it (most importantly the price is higher than the purchase price), while in the debt there is, I think you will only add risk to your investment.
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July 18, 2019, 01:11:45 AM
 #48

My business will accept payments of both Bitcoin and fiat. It is not solely running on BTC.
It would be hard for now if you fully accept bitcoin and not fiat money, and your business might not run well because very limited individual knows how to use cryptocurrency. Start a business that is base on your countries regulations, know that so you can fully operate well.
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July 18, 2019, 02:55:38 AM
 #49

Cryptocurrency is a big risk and we ourselves must be able to understand every thing to be serious here because many people can get losses from cryptocurrency.

Forget the risk. Forget the loans. Forget the money.

What kind of crypto-business should be opened? What services should it offer?

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July 18, 2019, 06:13:01 AM
 #50

I think accepting bitcoin is not the difficult part, it is not even cashing out that bitcoin that is the difficult part neither, it is the cashing out quick enough to not make a loss is the real trick here. I mean you could sell something for 100 dollars and if it is 100 dollars fiat than you will have that, however if you sell it for 100 dollars worth of bitcoin you could potentially have 80 dollars tomorrow or 120 dollars, nobody really knows.

Now, in business you have times you have to pay for stuff, it could be resources, it could be parts, it could be basically anything like rent, when that date comes and you are waiting for your bitcoins to go back to the price you sold your product for (aka 100 bucks in this example) you may have to sell it for cheaper because you have to buy stuff with that money. That is the real issue.

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July 18, 2019, 01:06:08 PM
Last edit: July 19, 2019, 11:55:28 AM by royalfestus
 #51

Its one of the challenges we are facing in the space. Everyone just want to look relevant with the crypto project whereas their project may not need cryptocurrency/blockchain. If its doesnt need it you might struggle to get trade for your coin most especially when the alt market has not found its confidence.The shake off will send many coin packing before the year ends or next





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July 18, 2019, 07:14:53 PM
Merited by FanEagle (1)
 #52

I had always this dream of building a crypto passive income service, there are ones like it but not that many use it and I really want something like that to become huge, people really want to make money for free and they really want to not work for it, so why not create a place where you put your money in (and take out whenever you want) and your money makes money for you? Even would have a article section for SEO purposes to tell people ways of doing exactly that.

A place where masternodes are collective, you need 1000 dash? well instead of one person with 1000 dash, we can have 10 person with 100 dash instead? or even less, staking? you have hard time staking because you have low amounts? well with this system you will get it quicker because we are a collective. Basically something that already exists but not marketed very well, if you could start a crypto business about that than I would love to help out anyway I can as well.

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July 18, 2019, 10:17:24 PM
 #53

What would the process look like?

If I registered a business name and then got some business loans to buy more coin. It would be a HODL business. Or a boutique crypto investment firm. I just want that loan to buy and hold onto a bunch of coin and watch it soar. There would eventually be a legit service to offer through the business but at first I just want a giant loan to buy a bunch of bitcoin.

Sound idea? Yes or no
I think teamwork is very important for everything because we are all going on the the right way if you think like serving the Crypto offers also then you can get lots of ways available but you need to explore them with only the team so that I think you can make the team and do the services easily

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July 20, 2019, 04:57:19 PM
 #54

What would the process look like?

If I registered a business name and then got some business loans to buy more coin. It would be a HODL business. Or a boutique crypto investment firm. I just want that loan to buy and hold onto a bunch of coin and watch it soar. There would eventually be a legit service to offer through the business but at first I just want a giant loan to buy a bunch of bitcoin.

Sound idea? Yes or no

That doesn't sound like a good idea...
You should never forget that cryptocurrency industry is very volatile and you will suffer huge losses.
Never invest what you cannot afford otherwise you will be in a huge pain. And a crypto investment like you consider it relies a lot of risks in the background that would lead you to economic breakdown.
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July 21, 2019, 04:03:58 PM
 #55

For beginners, doing business with crypto currencies has very dangerous risks, trading or loans do look profitable, but for those who are professional, you have to learn crypto currencies a lot before you start a crypto currency business.
Cryptocurrency is a big risk and we ourselves must be able to understand every thing to be serious here because many people can get losses from cryptocurrency.
It is only the investment part of cryptocurrency that is risky, I mean if you have to buy cryptocurrency and then tie it down for long with the intention of getting an increase, wherein anything could make it decrease also because of the market volatility, but when it comes to using it as utility, I do not think it is risky because there is no merchant that will ever accept cryptocurrency to keep it down in the wallet.

The money a merchant receive cryptocurrency for his or her services, they have some payment gateways they have partnered with already which automatically convert the crypto into Fiat immediately, which is why many people will always advise that bitcoin and Ethereum are still the best coin to receive as payment which is what those payment gateways can easily work with. So, I don’t see anything that is much difficult about crypto usage.

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July 21, 2019, 04:27:33 PM
 #56

Unlikely for you to get a bank loan with that "business plan". Aside from holding, what other services would you even offer if the money you borrowed is locked in crypto and you are still waiting for the prices to rise?

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July 22, 2019, 03:05:33 AM
 #57

I think teamwork is very important for everything because we are all going on the the right way if you think like serving the Crypto offers also then you can get lots of ways available but you need to explore them with only the team so that I think you can make the team and do the services easily

You are right. Teamwork is great. For now, my business is just me. I need to get other people on board. Want to join this project? It will be an asset-light service-based business, based out of the USA. The services we provide still remain unknown but it will come soon. The companies primary assets are just Bitcoin and cash in the bank. Quite literally we are shamelessly in it for those digits of digital money! Ethics are important too. It has to be a fully legitimate company that follows all of the rules and has a great reputation.
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July 22, 2019, 05:05:52 AM
 #58

What would the process look like?

If I registered a business name and then got some business loans to buy more coin. It would be a HODL business. Or a boutique crypto investment firm. I just want that loan to buy and hold onto a bunch of coin and watch it soar. There would eventually be a legit service to offer through the business but at first I just want a giant loan to buy a bunch of bitcoin.

Sound idea? Yes or no

it requires high trust and serious consistency in running a business. and you also have to understand about the worst case you have to face. because basically you open investment to people. and the purpose of other people entrusting it to you to get a profit too. if I prefer to run a business that provides facilities or services with certain expertise. and open investors to help develop the business and provide more benefits for them in terms of material or promotion.

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July 22, 2019, 04:02:53 PM
 #59

What would the process look like?

If I registered a business name and then got some business loans to buy more coin. It would be a HODL business. Or a boutique crypto investment firm. I just want that loan to buy and hold onto a bunch of coin and watch it soar. There would eventually be a legit service to offer through the business but at first I just want a giant loan to buy a bunch of bitcoin.

Sound idea? Yes or no

I dont really understand are you playing dumb or are you. Bitcoin is money. You use it as mean of exchange. So is pretty easy. If you have something to sell you sell that item for Bitcoin. If you have something to buy you buy that with Bitcoin.  Totally simple.


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July 23, 2019, 05:02:40 AM
 #60

I had always this dream of building a crypto passive income service, there are ones like it but not that many use it and I really want something like that to become huge, people really want to make money for free and they really want to not work for it, so why not create a place where you put your money in (and take out whenever you want) and your money makes money for you? Even would have a article section for SEO purposes to tell people ways of doing exactly that.

A place where masternodes are collective, you need 1000 dash? well instead of one person with 1000 dash, we can have 10 person with 100 dash instead? or even less, staking? you have hard time staking because you have low amounts? well with this system you will get it quicker because we are a collective. Basically something that already exists but not marketed very well, if you could start a crypto business about that than I would love to help out anyway I can as well.
If you have a product to sell and you want to receive bitcoin for it the options are insane. However we do not have a website like fiverr or upwork for people who are willing to sell their time. Maybe its time we start making a website like that where people who are coders, designers, writers and whatever else (even bounty would be used there) to actually find work and people who are looking for something like that to find workers.

The deal is we have people who are looking for coders and designers and writers and what not, however they can't see their portfolio right now and if we build a website like fiverr but for bitcoin (right now you can pay with bitcoin on fiverr but can't withdraw with bitcoin) then we can see the portfolios of those people as well and see how well they are in their work.


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