Crypto is becoming legal in my country! Any business idea?

[ruku@AL]

Hello all,
Cryptocurrency is becoming legal in my country, Albania. The government will make some laws to regulate the crypto in my country in September (god knows what).
Is anyone here that can give me any businesses idea? Or our gold time will be over after that?

Thanks!!

[sunsilk]

Exchange is the most ideal business for your country if there's still no local exchange that has been built there. Being the pioneer local exchange will get you the most attention because people can easily remember your company being the first crypto establishment.

As you know, the capital will be huge but you can start your own peer to peer exchange. And for other business ideas, you can have a look at Project Development and find something that you think suits your country and law.

[cabron]

Congrats! Which country?

Like any business, it always needs capital to run it. Since sunsilk already suggested exchange, let me suggest something else which truly is a cash cow.
Bitcoin Casino! Being the house you will always gain money from gamblers.  It will still have risks like the exchange but you being the first in the country may be easy to promote in local forums.

[FanatMonet]

Well, the very first thing that comes to mind when combining the words Bitcoin and is legal is a Bitcoin ATM, where you could buy and sell cryptocurrencies, but I can’t say how profitable this idea will be. Because usually they have a pretty big commission.

[guigui371]

Pick your cards :

* an accounting service
* ATM management
* brick and mortar boutique to sell ledgers/trezor, mining gear,
* same as above but online based
* set up a business that "settle" btc payment for small business, promote your services. ( ie, organise a plug-in for payement terminal) that liquidate BTC into your currencies, go and talk to coffee shops, barbers, auto repairs ...
* become a bitcoin "teacher", do seminars, coach people (maybe not from a financial point of view, just do it from a technological point of view)
* become an importer of BTC related products (Ballet wallet ?  coldkey ?)
* become a broker


Sky is the limit

[dupee419]

Pick your cards :

* an accounting service
* ATM management
* brick and mortar boutique to sell ledgers/trezor, mining gear,
* same as above but online based
* set up a business that "settle" btc payment for small business, promote your services. ( ie, organise a plug-in for payement terminal) that liquidate BTC into your currencies, go and talk to coffee shops, barbers, auto repairs ...
* become a bitcoin "teacher", do seminars, coach people (maybe not from a financial point of view, just do it from a technological point of view)
* become an importer of BTC related products (Ballet wallet ?  coldkey ?)
* become a broker


Sky is the limit

These are great options to choose at if you'd ask me, I think the best way to widen the knowledge of people is becoming an enthusiast and influence BTC and cryptocurrency to the people, targeted students would probably aged 16 and above, it'd be essential and a great income for you as well, teaching BTC to them while benefiting at the same time, and thus, the economy will also rise since more and more people would recognize BTC's benefits and unlimited opportunities.

[Kong Hey Pakboy]

That is a great news that your country is starting to accept cryptocurrency and understand it's true value. I think you can you do any business you want like selling products or goods that accepts bitcoin and other cryptocurrency, and inviting other small business to accept bitcoin and cryptocurrency as well.

[Upgrade00]

If you're interested in dealing directly with cryptocurrency then you can invest in it or trade it. However if you want to leverage on it, or integrate it into other sector there are a variety of available options;
• It can be used as a payment method for your business
• You can offer services for those interested in it, exchange, trading platforms, an online forum etc.
• Running a Mining rig is an option, as that would be legal too, but it's very cost effective.

Or our gold time will be over after that?

I'm unsure what you mean by this, are you asking whether Bitcoin would overshadow gold in your nation?
If so that is very unlikely

[bakasabo]

I would think of a business, that require short time to make an order/produce something/something that can be pre-selected. Something that doesnt cost much. Think of something that can be done quick, receive quick payment for it and switch to next customer.

One of cryptocurrency ideas is a quick payment. Make a big payment - means waiting long time for confirmation (if we talk about BTC and I'm sure exactly BTC will be used in your country as it is more knows and popular).

[DoubleEdgeEX]

An own exchange, a wallet or a services that would fit the needs of locals. You know your country best, so go for a mindmap and write down everything that comes to your mind that would help the people. Don´t forget it´s better to sell the shovel, and not dig for the gold yourself! That said, better no trading services or something that needs heavy involvement from your side and a high chance of failing.

[$crypto$]

A great country is now legalizing bitcoin as a legal currency.

Need to think carefully about the bitcoin business in your country if with limited capital then I think we need to open an online store by accepting bitcoin payments or other small things in the business that you can afford.

I think if this has been legalized in your country then I think it will be a very rapid development where bitcoin will become easy to use there if it has already been recognized.

[Maus0728]

* brick and mortar boutique to sell ledgers/trezor, mining gear,

I don't think this suggestion would be a good idea for someone who is looking for a start up business. It would be very difficult for him to make market the sales since most of the people are now becoming security conscious of their cryptocurrency holding thus, they tend to just purchase in Ledger or Trezor Official website.

• Running a Mining rig is an option, as that would be legal too, but it's very cost effective.

Did you mean not cost-effective because this time we're on an ongoing crisis and much lower mining reward of 6.25 per block.

[gantez]

Maybe if the bank there are not dealing on it, you can partner one way or the other in business with the bank. You can help people do bitcoin transaction or direct fiat exchange from your wallet and get played in fiat to your bank account including your charges.

[onrise]

This is good news that your country has accepted the crypto and finally all the citizens can now trade and invest and use the crypto in their daily life’s. One of the options is that you can partner with some shops and if they are ready to accept the crypto you can take commissions either from shop or the buyer/seller. Another thing you can act as the middleman by accepting the crypto and making the making payment via cash or card and keep the btc or other coins with you and buyer may be ready to pay something extra if anyone is ready to accept the crypto instead of cash or card. If you think crypto values in future will be rising you will make a good money with those cryptos or sell it on highs in short term.

[DoublerHunter]

^ It's good news that your country is starting to recognize and embrace cryptocurrency in your economy. And when cryptocurrency is a major part of your country, build a cryptocurrency-related business so you can be the first to identify your country that has established a cryptocurrency business. We all know that cryptocurrency is not yet established worldwide but in case any other country recognizes cryptocurrency and the business you are building is related to cryptocurrency I think you will not only be recognized in your country but also in other countries that are just beginning to recognize cryptocurrency and bitcoins. And in my opinion, the best business to build is a store that can buy and pay for bitcoins so that bitcoin people can easily recognize that your store is the first store in your country to receive and accept cryptocurrency payments for what they want to buy.

[sunsilk]

Since sunsilk already suggested exchange, let me suggest something else which truly is a cash cow.
Bitcoin Casino! Being the house you will always gain money from gamblers.  It will still have risks like the exchange but you being the first in the country may be easy to promote in local forums.

Both of our suggestion requires huge capital but until he mentions what country he resides. There might be a conflict about his country's rule about gambling but we don't know as long as it's gotta be a legitimate business and registered to his government, that will be a good business.

Being the first is what I'm thinking because there are many advantages to it. The suggestion of guigui got me because it's a good suggestion for me, the ATM management which is also like an exchange. That's a clever idea.

[smyslov]

Hello all,
Cryptocurrency is becoming legal in my country. The government will make some laws to regulate the crypto in my country in September (god knows what).
Is anyone here that can give me any businesses idea? Or our gold time will be over after that?

Thanks!!

Online shop is the best business to set up for Cryptocurrency, you can set up an online t-shirt shop using Bitcoin and Cryptocurrency logo, it's like hitting two birds with one stone, I'm pretty sure it's going to be a big hit and you will promote Crypto currency as well.

[Sanugarid]

Pick your cards :

an accounting service
ATM management

Bitcoin is decentralized which gives people freedom of its use, I don't think that it is ideal for a person that has bitcoin coz basically he can do all by himself.

* brick and mortar boutique to sell ledgers/trezor, mining gear,
* same as above but online based

This might be the best shot you can do for now, try to resell ledger or trezor or any kind of hard wallets coz there are lot of people who will want to secure their coins especially now that we are on verge of economic crisis, no little amount of coins today will be insignificant in the future most especially in bitcoin.

* set up a business that "settle" btc payment for small business, promote your services. ( ie, organise a plug-in for payement terminal) that liquidate BTC into your currencies, go and talk to coffee shops, barbers, auto repairs ...

This could be a good one but it defeats the purpose of bitcoin on eliminating the middlemen, but then it depends as it will be a business but I doubt if the business owner knows about bitcoin he'll definitely get it for free.

* become a bitcoin "teacher", do seminars, coach people (maybe not from a financial point of view, just do it from a technological point of view)

Just an advice, if you want to really be a teacher for crypto of advisor better if you do take online courses about blockchain yet so you'll have certificates that you can have to present with your students. Not just a youtube learner that makes you feel professional. It sucks seeing a person that way.

become a broker

It's kinda risky, as I think of it.

[sana54210]

Exchange exchange exchange. If it is becoming legal in your country, work with banks and make sure you could exchange bitcoin to fiat and vice versa. That way people who have fiat could send it to your business bank account, they will have fiat on your website, buy bitcoin and do whatever. And people who have bitcoins could send it to your website, could exchange for fiat, and send it to their bank accounts (which your business bank account will send them from). If you could do that a reality, many many nations in the world still needs that a lot.

I feel like your nation might already have one, but don't be afraid of starting another one, there will always be need for a new one. It will require some capital and you will need to do a lot of marketing and also you might need to do some fake volumes to look good and preferred as well.

[jostorres]

It all depends on what you are into already. I believe that you already have an established business and you are just looking for ways to integrate cryptocurrency and Blockchain into.

The normal thing that most businesses do is that they allow their customers to make purchase by using cryptocurrency, that way you will be able to receive cryptocurrency from them, and it’s really cool to do that. Apart from accepting cryptocurrency as payment you can as well be rewarding your customers with tokens, if you do have one. You can also pay your employees with cryptocurrency, create a project, join a consortium and a lot of others you can do.