How can I start a business that offers crypto services?

[SquallLeonhart]

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.

He might have even committed suicide before he gets the chance to see the investment yield profit because he would be so frustrated when he sees the coins e had bought dumped from time to time. Imagine he had taken load when bitcoin was at peak last 2017, what would have become of the loan by now, and there is no way the lender would have become patient for this long, so his collateral, might have gone, and he might have even panic sold to pay the balance of the loan, so he will be the one to end up losing.

Taking loan for business that is highly risky is typically bot advisable as you said, if he was even taken loan to buy fixed assets like land or gold, that is understandable, highest he sell its back if it is not yielding profit to pay the loan back, but for crypto, he would just wake up and see that his $10k had turned to $1k overnight.

[1714621219]

1714621219

[Pipdips]

I think you need to process the payment via payment processor but I don't know what is the name of crypto payment processor which is good for your service but definitely there are something you can use for accepting crypto of payments not like PayPal.

I like that word, payment processor, that is going to be a HUGE industry processing digital asset payments like cyrpto! But you know what I'm thinking? This business thing is hard work and I have a different idea.

Let's form a team of Bitcoiner's who are product advisers or product testers for other crypto-related businesses that are already established in the market. We can be a group of people who try out the products or services for other companies, we charge a fee, and in exchange we give them as much useful and helpful feedback, the good and the bad, for their company to improve their businesses. We would do the reviews privately, instead of publishing our thoughts online for everyone to see in public, avoiding tarnished their companies reputation any. That way our negative opinions are not open for the public to see, and at the same time our positive opinions are not available for their competitors to see.

We will be like a dream team of highly opinionated Bitcoin enthusiasts who make money doing it. Who's with me?

[Theb]

The way you describe your business idea it sound more like  you are asking for the money fo people for you to trade it with which is like a pool fund type of investment which you need to stop it right there. The business idea in itself is good since it has been used in a lot of assets already but it's really not suited for the crypto market. It is to volatile to assure your investors that they will earn a stable amount or at least earn anything. The risk involve won't attract any reliable investors and the ones part of it are entering a risky deal. You yourself is risking yourself to have criminal charges once it fails.

[Pipdips]

Here is a consolidated list of what we have on the plate so far:
 
 
The business offers crypto-related services.  The nature of services we will offer remains unknown for the time being.  It will be an asset-light service-based business, based out of the USA.  Our primary language for business is English.  A business name will not be registered until we have had a minimum of three paying clients, or at least one repeat customer.  There is one employee, myself.  We will eventually have employees located anywhere in the world.  Mostly we will hire Bitcoin enthusiasts like us.  All laws will be followed to the very best of our ability.  Ethics are very important.  It will be a fully legitimate company that follows all of the laws including tax payments.  The business has an impeccable reputation for playing by all the rules.  This is a completely debt-free business.  No loans will be taken, unless a generous outside party agrees to service the loans for free, or if they flat out gifts the business some Bitcoin or cash.  I was the businesses first donator of funds: so the business is currently worth .1 Bitcoin stored in a cold storage wallet, plus $100 USD cash stored in a paper envelope.  The website has not been designed yet.  The website will be connected to a newsletter for keeping clients up to date.  Once a website is up and running, a donation button will be added for anyone to donate BTC and or USD.  The donation button is our first mentioned source of income, but the business is planned to eventually have multiple income streams.  Our current objective for the business is simply: to make money!

[Pipdips]

My introductory comment about getting a business loan to buy up Bitcoin really resonated with you folks. You are all clearly obsessed with getting loans for buying cryptocurrencies. You all want it.

How about if my company provides a Cryptocurrency Loan Counseling Service? How much would you pay for that?

[Leyss]

In order to start your business using cryptocurrency as a means of payment, you need to organize two things. It is, in fact, an ordinary business that could be profitable. However, the main thing here is to find out the legal status of cryptocurrency in your country of residence, the existence of relevant laws and regulations that would allow to accept cryptocurrency as a means of payment and report on its use to the tax authorities and the audit.

[Pipdips]

I am beginning to realize this could be better as a non-profit organization that is not money driven... The money aspect of Bitcoin is looking too troublesome, does anybody know what I mean? The cryptocurrency business is insanely greedy. Instead of thinking of charging for these services and talking about these big loans and being greedy, let's keep it industry specific but more supportive, and more structured, with more roles to fill and with involving a lot more people.

How about we put together the professional group: The Cryptocurrency Society of America

[MidnightWolf]

I think that it is necessary to develop your business according to the already existing rules, but everywhere you need to advertise the possibility of using cryptocurrency.  If among all your customers there are cryptocurrency users, they will not only use cryptocurrency, but will also fulfill the role of your main advertisers as to the fact that your business also works with cryptocurrency, and not only with fiat.

[Pipdips]

Well, the problem of starting a business that provides crypto services is always difficult as many people say, trust and prestige are not easy to build in this virtual world,

I am as legit as they get.  Look here in this topic, I am discussing the business idea openly and inviting others to participate.

Most large professional societies that encompass a large country such as the USA probably begin with a set of free memberships.  Then extending it to academics, government stakeholders, amateurs, students, and free memberships for select professors and then slowly grabbing and picking great candidates and insiders whom also believe in the organization.

In fact, since I am the only one in the society, I am shutting off free memberships right now.  It is something of value and we need the best people involved.  It is not just some free sign up like at this forum.  Most professional societies have associate members that pay $100-200 or more for a one year membership. Rightly so!

As a professional society we will have a robustly designed structure with trustees, cabinets, students, treasurers, presidents, website admins, HR, officers, codes of conduct, the whole nine yards.  The idea of having a top of the mill professional digital currency society has potential.  It has way better potential than the original idea.

Our Mission: Cryptocurrency Society of America is dedicated to advancing the knowledge of all persons with a personal or professional interest in crypto-currency. We are based in the United States and Canada.

[pragna]

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

Your thinking is good but i think by making loan you should not invest into crypto market. Because this is very volatile and there are too much risk in big investment. Is is decentralized and nobody can control it. So there are 50/50 chance to gain and lose. So before take loan you should think more and more.

[SvonioneFromMangoCoinz]

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 is definitely not good. Because there are a lot of professional investors out there and you still have no significant achievements to convince many investors in the crypto market.
Besides, you should not open a business. You should only call and open investment funds.
First, you have to show people your achievements so that people can trust your profitable investment philosophy.

[Pipdips]

You can start you business with crypto but you have other source income because crypto is not always on higher price, many time you faced moment where you have lost your assets because price down.

When Bitcoin price is downtrending, we only accept USD.

When Bitcoin price is uptrending, we only accept Bitcoin.

[Lawrenzoo]

I think that it is necessary to develop your business according to the already existing rules, but everywhere you need to advertise the possibility of using cryptocurrency.  If among all your customers there are cryptocurrency users, they will not only use cryptocurrency, but will also fulfill the role of your main advertisers as to the fact that your business also works with cryptocurrency, and not only with fiat.

There is a musician that I love so much, and a part of the lyrics to one of his song say “it is better to try than not to try at all”, there are lots of people that their dreams has been shattered simply because they fail to speak out or take a step because of the fear of rejection.

There is something that my grandfather said to me, he said you have to stop being afraid of human being, because they are same as you, if there is anything you need to ask them, never be afraid to do so, there is only two language they will use for you when you do. It is either they say YES to you or they say NO, none of the two will kill. So what I am just trying to say is that there is no point discouraging him, it is best if he tries and fail than not to even make attempt to try it and see if it will work.

[Pipdips]

Most of the people replying here only read my first post and did not bother to read the rest of the content of this topic.

There are a few of us that are already private messaging about building something from this topic.

[SirLancelot]

Most of the people replying here only read my first post and did not bother to read the rest of the content of this topic.

There are a few of us that are already private messaging about building something from this topic.

But you already got some answers from some of them, which they encourage you about the idea of starting a business that offers a cryptocurrency service which we have lots of them too in the market already and had raised funds through ICO, but in your own case, your idea can only functions better in a traditional currency and not in a cryptocurrency.

Getting the cryptocurrency loan needed to start what you proposed is not a child’s play and crypto loan is too risky for me to advise you to take. It is better you start thinking out of the box, and then think of other avenue where you can function perfectly well. There are thousands of projects that you can invest in which you need time to save the money up, but not to ever borrow crypto load to start such system.

[Pipdips]

your idea can only functions better in a traditional currency and not in a cryptocurrency.

Who ever said my business only uses cryptocurrency?  In fact, if I start the Cryptocurrency Society of America (CCSA) it would have to only accept USD as a payment option.  Why?  Because to accept Bitcoin is totally insane for most businesses.  We need money, or at the minimum, stable coins.  My point is that one does not need to charge cryptocurrency to offer crypto-related services.  We can take cash, marbles, donuts, heck we can accept gold, silver, diamonds.  Basically anything except Bitcoin because it is so volatile on a day to day basis.

--

Another idea is to scrap this whole CCSA idea and instead just do investing. The business can be for helping other people invest in crypto-currency for themselves and their family estates.  A Digital Asset Hedge Fund Trust Firm.

[Pipdips]

Why don't you put up a business that will accept crypto coin payments instead of business that will just to buy and hodl. From what I have understand, it's like a pawnshop thing or I really don't know how your business would be like. If you'll put up a coffee  shop it's still good accepting coins while the market is in bear is good then you will gain profits after the pump. Two birds in one stone, right?

The coffee shop concept is faulty because there are not many people who own Bitcoin, and the people who own Bitcoin are not exactly going to use their Bitcoin (they might still prefer using cash to buy things).  Also coffee is just one product and a boring one at that because people just buy coffee and then leave (and when customers leave stores they stop spending their money).

BUT...

If we rent a brick and mortar flex-place (warehouse style) location and put in a coffee shop, with Bitcoin ATM, gaming stations that have games connected to crypto-currency, energy drinks and vape products that can be purchased and consumed at the gaming stations.  The gaming stations will be rented by the hour by paying with Bitcoin, and made somewhat affordable for younger people but it is also a place they know they will blow all their money but enjoy doing it.  We can also sell crypto-currency products like cold storage wallets, and funny t-shirts and stickers about Bitcoin.  We can probably include other cool futuristic products that will appeal to our gamer client base, like electronic scooters, electric skateboards, drones, and other products that are the newest, the latest, the greatest.  Cutting edge stuff like that, plus other cutting-edge services like the best pre-releases on games and counsels, so we will work closely as business-to-business insiders for gaining access to pre-releases and sneak peaks, oh, and definitely we can cater to the Artificial Intelligence and augmented reality scene (!!!) and always be a step ahead the rest, with the latest and greatest robotics technologies for consumers that will keep people coming back to the store and keep people inside the store hanging out and spending money, participating in gaming events, taking classes, and networking with people, connecting to people and the technology, making friends.  It will be a futuristic store that is a step ahead of the rest from around the world.  It will be located in a cool yet gritty USA city like in Brooklyn, New York or Oakland, California.  It will be decorated cool like with graffiti inside the building similar to graffiti at skate parks, so that it will not be a totally sterile environment but more of a creative space for making people feel more comfortable.  Now we are talking!!!

[el kaka22]

You can just use USDT if you want to deal with crypto and accept cyrpto but afraid of the volatility? I mean just accept bitcoins and any other coin you want when you are selling something but in your account change it to usdt as soon as you sell something. That way people will be able to pay you in crypto but you will be keeping it in usdt form which would mean you will lose only a bit with trading fee but that is about it for the difference of accepting and using bitcoin versus accepting bitcoin but using usdt. That is why if you want to open to world of crypto either in a website store or even a regular store you can just accept any crypto you want, coinpayments allows you to get any sort of currency you want but switch to anything you want automatically, that way people can pay for example in EOS but you will get USDT automatically.

[Pipdips]

Traditionally, yes, any ordinary Joe in the room can proclaim that buying Bitcoin with Credit Card is not wise at all.  However, there is a slight possibility that Bitcoin is something new and that Bitcoin challenges that old thought process about trading with leverage.  It could even challenge that old way of thinking that you should not invest what you can not afford to lose, because with Bitcoin, the rules are not exactly the same.  The playing field and landscape is somewhat different.  The credit card companies look at Bitcoin differently than other "property" like real estate property.  Bitcoin is a much different beast.  Bitcoin remains as an undefined financial instrument.

Answer this: Why have credit card companies have been so quiet about Bitcoin?

[dengpei]

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

Ever heard of ponzi schemes? This is how they usually start! What happens when you lose your loan money when the market goes down? You will probably look for another source to cover the repayment costs of the loan, then another and another until a 'scheme' starts to run. The most important question to answer when you start a business is"What problem do you want to solve?" Answer that and your. Business will have a stronger foundation.