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

[imstillthebest]

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,  

nice advice mate i like the idea the most of accepting crypto and then paying some cash back in the form of tokens or he can create his own token and this token is the one that will be use for giving cash back  which he can use to buy items or got discounts too   .  i havent seen this idea done by merchants that accept crypto yet so if it will be a good hit if he is the one that will does this first .  using other alts and toks not just btc is also a nice idea because many shoppers prefer this too  

[shield132]

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!!

I don't know where you live but you have to do some research around it. If you are from a small country, then it's far better for these purposes. In overall, analyze how is the demand on crypto in your country and what were people requesting/posting on forums in this category. Are there FB pages of crypto in your country? If yes, then check them and analyze given data that includes comments, answers and more.

In any way, if there are zero crypto business in your country, the best option is to create crypto exchange website but you may need a lot of money for this that includes creating secure currency exchange script, hiring a team of developers (or founding team) to improve your script, fix bugs and develop more features. Exchange is the best option if you are capable of doing it. Otherwise, it will be better to post how much budget you have and what you are capable of... It's very hard to give advice without this kind of information.

[ruku@AL]

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.

My country is Albania and yes gambling is illegal. I am already in the business admbet.com, its perfect!
thank you for all this ideas. I have time until September when the law will take effect!

[FlightyPouch]

This depends on your country though but in terms of your country legalizing bitcoin, the first thing that popped in my mind is an ATM machine. Maybe an ATM machine that would let people buy btc so they would be able to use it or maybe just invest in it. If you already have a business, start announcing that you would be having discounts when they pay bitcoin so they would be using in your business.

[princeyeboah]

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!!

Good call. I must first commend your government for such a revolutionary movement. To enhance the adoption and usage of cryptocurrency in your country, you can begin by accepting cryptocurrency in your small scale business and empower your customers to do same. You do not need a big business before you integrate cryptocurrency as payment. Hence, think of any business within your capabilities, start it up and begin creating awareness on how you accept cryptocurrency.

[crwth]

When it comes to business, it would depend on what the customers are going to look for and what you could do about it. I think the best approach with business today is online, knowing that we currently have this pandemic. Maybe set up your business around that and accept cryptocurrencies. It would depend on your target market.

[Darker45]

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!!

It is hard to suggest a business without knowing the how much. The suggestions such as crypto exchange, casino, ATM, and so on are really nice. But they're most probably quite expensive. More often than not, such businesses are not undertaken by individuals but by companies.

I would suggest that if you already have a current business, however small it may be, you can always introduce crypto to it. Even if that is just an online store, a small bar, or a barbershop, a restaurant, coffee shop, pet shop, and the like, you can always put a banner which says "We accept cryptocurrencies" or "Bitcoin accepted here."

And take note, if you like, give those who prefer to pay in crypto a little discount, if only to drive crypto adoption.

[CryptopreneurBrainboss]

Educating your countrymen about the advantage of the industry is one of the most underated service currently in the industry, since majority of the human race aren't aware of the benefits that comes with been an enthusiasts of the industry. If you can enlighten them without caring much about profiting from them, it will go a long way in preventing them from falling victim to thousands of scams that are likely to pop up in your country once the government gives it a go ahead.

Many scammers will seize that opportunity to defraud gullible Investors that'll be hoping to profit from the new approval technology and assuming your countrymen aren't inform they're definitely deformed. Don't rush into wanting to profit from your countrymen because I'm quite certain that's where your mindset is heading at with this question of yours.

Launch a service that'll help enlighten them, the profit will come later. An entrepreneur hopes to solve an existing problem and not technically goes into a business with the mindset of just wanting to make money. So start by solving an existing problem.

[peter0425]

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!!

Which country is this?because how can we give good advice if we don't know about other regulations in your country.

But of course nothing best in Crypto is creating your own Gambling site,this will surely brings you money but of course this market needs knowledge and also you must be techy so better learn those first.

[Paycoinzzz]

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!!

what is your country? I need to know which country you are in and whether the people there respond well to crypto. The success or failure of businesses depends on the community around them. If your country has many crypto believers and is willing to invest then I think your country is a beautiful destination for potential startups.

[sheenshane]

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!!

Let us know first where your country located at.
Congratulations! Because your country is starting to recognize and legalize cryptocurrencies and one of the most well know is Bitcoin. A big opportunity comes to those who like you and who have Bitcoins because your country is starting to recognize and embrace cryptocurrency. Because these cryptocurrencies are one of the possible sources of money such as Bitcoin mining or even a merchant that acceptsBitcoin.

And I think if your country really does make cryptocurrency legal, it's a great opportunity for you to build cryptocurrency-related businesses, such as buy and sell related businesses. You can also set up an establishment where you can teach about cryptocurrencies and how they can help their lives through the use of blockchain technology. As we all know that cryptocurrencies are very well known around the world so educating them is also a great idea for a business. You're probably the first person to recognize and teach about crypto not only in your country and also in countries that are beginning to recognize this kind of digital currency.

[davis196]

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!!

Wait until September and see what regulations will be imposed about cryptocurrency trading in your country.
It's way too early to think about creating a business,when you aren't familiar with the regulatory frame.
Creating a cryptocurrency exchange platform,the competition is furious and you will need a big advertising budget and big capital in the beginning.The ROI isn't great as well.
Maybe you should start some online crypto casino,but you should think about some new features that will make you stand out from the competition.

[Latviand]

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.

Most of the people here are suggesting for you to own an exchange, that's right because that's the most effective way for you to gain profit from it and promote bitcoin at the same time.

You can earn profit by the implementing reasonable fees that will satisfy your customer's preference in an exchange that they are looking for. Not all country, have an exchange when it comes to cryptocurrency to you need to build one and this legalization of crypto is an opportunity for you to grow your money and serve other people on what they want to do with their money.

Investing money in exchange is not that risky compared to trading, investment will really give you more confident and positive outcome once that people are getting used to your exchange. In trading, you can manage your risk, but there is still a high chance of losing your money.

[Assface16678]

Glad to hear that your country already accepted the use of the bitcoin which is good for the economy to make easier and faster transactions. On about having a business regards the use of the bitcoin it does not matter because the important is having the use of the bitcoin. I think one of the most easier to do is having a QR Code scanner on your store and it is easier for your customer if they will scan the address immediately because it is less hassle. Also, you can help your customers if you will put a machine that they will give the amount and set their address but I think it is too much hard than using the QR scanner on your store. Also, you can put the barcode on your products and use the barcode scanner on it with easy payment.

[arwin100]

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!!

Wait until September and see what regulations will be imposed about cryptocurrency trading in your country.
It's way too early to think about creating a business,when you aren't familiar with the regulatory frame.
Creating a cryptocurrency exchange platform,the competition is furious and you will need a big advertising budget and big capital in the beginning.The ROI isn't great as well.
Maybe you should start some online crypto casino,but you should think about some new features that will make you stand out from the competition.

If his country have strict regulation about crypto casinos or other form of online gambling maybe he will struggle on legal matters and the one I suggest is maybe he should introduce a new mobile wallet to his fellow countrymen and offer various services which can make the life of the user convenient since by this thing for sure many people who's using crypto will adopt your business since the feature is good if he have an option like that.

And better to think earlier since there are so many businessman hunting some ideas and maybe they will be the one who established first since you are still doubting to build a business.

[Janation]

That is good for you.

In terms of building your own business, I don't think you should relate that or based that on Bitcoin. Bitcoin is just legalized in your country, I guess you should just approach that plan normally without thinking about people using Bitcoin since you are limiting your goal in that case. What business can you manage? What do you know? Where will you do that? Who are your customers? You could just add Bitcoin if you are done with your good business plan. Like accepting it in your business and giving discounts or promos for those who will use it.

[Nathanz]

There are a lot of ideas out there wherein you can incorporate a certain business into cryptocurrency. Since you said that Bitcoin will now be accepted in your country, why not make a cafe that accepts Bitcoin as a mode of payment? I am not saying that Bitcoin will only be accepted, but you can add the option of paying using Bitcoin since I believe that when people starts to notice that Bitcoin is really good, a lot of people will now use it. I suggest business that is about food. Who knows? It's unpredictable though.

[BitcoinTurk]

Is anyone here that can give me any businesses idea? Or our gold time will be over after that?

You can establish a business where you can buy and sell transactions with the Commission, which allows people to buy cryptocurrencies easily. For example, you can open an office where you can buy and sell cryptocurrencies in the same way as the exchange office logic. Of course, in this way, transactions will not be as fast as in foreign exchange offices, because in some cases, the approval process that occurs in sending money may be prolonged. The main purpose here will be to direct people to the use of crypto money and to be one of the leading names of this sector in the country. If you want to take this train from the departure point and take advantage of all the opportunities along the train's movement area, I recommend you to evaluate this idea. Yes, maybe it's not an idea that will provide high earning potential in the short term, but I think it will be very profitable in the long term. Even one of my dreams is to create this business that I mentioned.

[Baoanhbmt]

I think we need to open an online store by accepting bitcoin payments or other small things in the business that you can afford. having a QR Code scanner on your store and it is easier for your customer if they will scan the address immediately because it is less hassle. 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.  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

[Subbir]

The good news is that crypto has become legal in your country you'll trade or invest in crypto this is often an excellent opportunity to trade crypto But before that, you would like to understand about crypto and check out to find out things. just in case of an exchange, it's a way better platform you'll invest bitcoin if you've got sufficient capital. you've got tons of your time now that it'll start in September Use this point to find out to trade by doing crypto marketing research you'll make tons more profit.