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Author Topic: ADVANTAGES OF CRYPTO BUSINESS  (Read 292 times)
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July 31, 2020, 01:55:54 PM
 #21

How is "any cryptocurrency" (written close to the end of your post) possible on the site? Or, do you mean multiple cryptocurrencies/tokens? I am sure no one will risk accepting any crypto like "dead/scam" cryptocurrencies/tokens(maybe in rare cases.)
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July 31, 2020, 02:22:16 PM
 #22

It's easy to hear and read that anyone can start his crypto business or crypto casino but maintaining it is the hardest part of it. I'm interested of having my own crypto business but I know the qualities and challenges that I need to pass before making one.

If somebody shows interest for making his own casino, think of it as it's not just about making profit, it's about customer service and your reliability as a casino providing many things for the sake of your casino and taking care of customers.

It is not so much about the maintenance in terms of funding (anyone can lend money and now casinos even allow public investment into the bankroll) but all the other problems people do not tell you about when they sell you a solution.

Worst problem is manpower to handle customer support. People will make mistakes and do all kinds of screwups. And you need to scale support with customer growth!

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July 31, 2020, 03:30:39 PM
 #23

It's risky to have a crypto based business actually. You have to deal with the volatility of the cryptocurrency also it's not true that you can open up a crypto based business anywhere there are some countries that prohibits cryptocurrency.

Although its true that you will have new customer but those customer only that uses cryptocurrency have you considered other customer that's not familiar in using cryptocurrency?

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July 31, 2020, 03:37:30 PM
 #24

What about the disadvantages?
I am thinking for so many time to create my own crypto business but I am afraid about the laws that I have to follow. There is no clear pact for crypto businesses neither in the US or the EU.
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July 31, 2020, 05:12:29 PM
 #25

If you talk about starting a crypto business like casinos is not that easy and also you have to gain people's trust and make your casino known. I have seen many casinos being launch and some of it didn't last long due to some issues and some are still running smoothly until now and they even have signature campaign for further advertising.


Running online casinos is not an easy initially. Unless someone has good wealth then it is fine else if big whales win during initial days itself it then be ready to shell out the money. Also, with today’s space with so many such sites up so competition is too much and trust is what matters along with the new offers to keep rolling out to attract new customers.

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July 31, 2020, 05:25:04 PM
 #26

What about the disadvantages?
I am thinking for so many time to create my own crypto business but I am afraid about the laws that I have to follow. There is no clear pact for crypto businesses neither in the US or the EU.

Disadvantages are for you to discover, they wouldn't be saying anything about those things since they are selling their services. I guess it's their support that is likely that you need when the disadvantages occur like security of the casino which can likely be sabotage. The bugs to be fixed which you will also discover soon if you really will avail from them.

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July 31, 2020, 05:25:20 PM
 #27

What about the disadvantages?
I am thinking for so many time to create my own crypto business but I am afraid about the laws that I have to follow. There is no clear pact for crypto businesses neither in the US or the EU.
This is a very important insight that we must be considered before we will begin to step on this kind of business. The pros and cons should must be there and as a business risk taker already knows these sequences that I guess may happen in the future, and at least you already aware by that.

There are possible disadvantages but I only state one, I guess the most common problem is how to fight and adjust the volatility kind of the market. That every now and then, bitcoin price will fluctuate compared to fiat.

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July 31, 2020, 05:52:29 PM
 #28

Are you sure that there is no barrier? Even if it is a crypto casino still it has to be regulated by the government where they origin and also they have to restrict people from playing if it is restricted in their countries.

But having a crypto casino is going to be more profitable because this is going to be the era where people like to do everything via online.

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July 31, 2020, 11:05:17 PM
 #29

It's easy to hear and read that anyone can start his crypto business or crypto casino but maintaining it is the hardest part of it. I'm interested of having my own crypto business but I know the qualities and challenges that I need to pass before making one.

If somebody shows interest for making his own casino, think of it as it's not just about making profit, it's about customer service and your reliability as a casino providing many things for the sake of your casino and taking care of customers.

There's more than meets the eyes here. Seems easy to set-up but sustaining the operations is hard. Also, you should have fat bankroll unless you want players complaining about not getting their withdrawals on time. Also, active customer service is a must. This business is profitable but only when you know how to manage it. This business is not for all.

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August 01, 2020, 10:37:02 AM
 #30

If you talk about starting a crypto business like casinos is not that easy and also you have to gain people's trust and make your casino known. I have seen many casinos being launch and some of it didn't last long due to some issues and some are still running smoothly until now and they even have signature campaign for further advertising.


Running online casinos is not an easy initially. Unless someone has good wealth then it is fine else if big whales win during initial days itself it then be ready to shell out the money. Also, with today’s space with so many such sites up so competition is too much and trust is what matters along with the new offers to keep rolling out to attract new customers.

Competitions will be the big test for newcomers into this business, it's hard to make your way as there are already
a well established sites that providing best offers to their participants, trying  allure gamblers and attracts their
attentions needs to have good skills being creative and have decent amount of money to back up every promotions
that you'll going to provide.

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August 01, 2020, 02:30:30 PM
 #31

If you talk about starting a crypto business like casinos is not that easy and also you have to gain people's trust and make your casino known. I have seen many casinos being launch and some of it didn't last long due to some issues and some are still running smoothly until now and they even have signature campaign for further advertising.


Running online casinos is not an easy initially. Unless someone has good wealth then it is fine else if big whales win during initial days itself it then be ready to shell out the money. Also, with today’s space with so many such sites up so competition is too much and trust is what matters along with the new offers to keep rolling out to attract new customers.

Competitions will be the big test for newcomers into this business, it's hard to make your way as there are already
a well established sites that providing best offers to their participants, trying  allure gamblers and attracts their
attentions needs to have good skills being creative and have decent amount of money to back up every promotions
that you'll going to provide.
Although the competitions will be the biggest test for the newcomers, if the new gambling owner has a different approach to introduce their website to the public, I am sure that they will have a chance to compete with the existing gambling website.
That new gambling website will have the opportunity to get the members, especially if they can use social media to promote their website or promote the website using advertisements online.
Besides that, the owner can apply a good welcome bonus to the member so they can attract many people to visit their website and play some gambling games.

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August 01, 2020, 04:31:26 PM
 #32

It's easy to hear and read that anyone can start his crypto business or crypto casino but maintaining it is the hardest part of it. I'm interested of having my own crypto business but I know the qualities and challenges that I need to pass before making one.

If somebody shows interest for making his own casino, think of it as it's not just about making profit, it's about customer service and your reliability as a casino providing many things for the sake of your casino and taking care of customers.

There's more than meets the eyes here. Seems easy to set-up but sustaining the operations is hard. Also, you should have fat bankroll unless you want players complaining about not getting their withdrawals on time. Also, active customer service is a must. This business is profitable but only when you know how to manage it. This business is not for all.
It is truly hard.

Looking to the operation is easy but if you're on the actual scene and you are the one who's managing it, you'll understand that running a crypto business isn't easy as what you think.

A very complex thing to do yet rewarding to those who became successful in this business.

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August 01, 2020, 10:54:53 PM
 #33

If you talk about starting a crypto business like casinos is not that easy and also you have to gain people's trust and make your casino known. I have seen many casinos being launch and some of it didn't last long due to some issues and some are still running smoothly until now and they even have signature campaign for further advertising.


Running online casinos is not an easy initially. Unless someone has good wealth then it is fine else if big whales win during initial days itself it then be ready to shell out the money. Also, with today’s space with so many such sites up so competition is too much and trust is what matters along with the new offers to keep rolling out to attract new customers.

Competitions will be the big test for newcomers into this business, it's hard to make your way as there are already
a well established sites that providing best offers to their participants, trying  allure gamblers and attracts their
attentions needs to have good skills being creative and have decent amount of money to back up every promotions
that you'll going to provide.
Although the competitions will be the biggest test for the newcomers, if the new gambling owner has a different approach to introduce their website to the public, I am sure that they will have a chance to compete with the existing gambling website.
That new gambling website will have the opportunity to get the members, especially if they can use social media to promote their website or promote the website using advertisements online.
Besides that, the owner can apply a good welcome bonus to the member so they can attract many people to visit their website and play some gambling games.

Here in the forum, the usual way to attract players if you are a new casino is to run a sig campaign managed by a reputable manager.
As we observed, a lot of these good btc paying campaigns are promoting casino sites.
I have seen a lot of newcomers here but once they started their campaign, they started to gain players as well.
And if the support of that site is active, that's when the players stick to that casino.
And speaking of campaign and rewards, this means that the dev team/owner should have enough funds to run these programs.
So it is not a piece of cake to run a decent crypto business like casino.

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August 02, 2020, 07:24:09 AM
 #34

It attracts new customers
As it is still quite new and rare compared to the traditional businesses, it can attract new customers and secure your position in the competition.

attracts many people because of the hope of becoming rich early, but they are deceived by scammers

It’s easier, faster, and cheaper
With no middlemen, transactions with cryptocurrencies are easier, faster, and cheaper. It’s beneficial for your customers as without additional fees, you can offer product in a much lower price.

but it becomes a headache to use in the real world

It’s liquid
Cryptocurrencies are can be cashed out relatively quickly, which would be a big advantage for your customers.

it depends on each country, because there are many countries like mine which is a headache to withdraw to the bank

It has no barriers
With no barriers, international trade is more accessible. It means, you can expand your business to any regions!

In fact, they are businesses that nobody cares about having a physical office and when they run away with people's money they are not found

It’s secure
Transaction using cryptocurrencies cannot be reversed, which reduces the fraud. It can help you gain customers’ trust.

this is another good thing that is being misused by many casinos that retain customer funds and use TOS as an argument

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August 02, 2020, 07:38:25 AM
 #35

One of the biggest cons associated with the crypto casino sites is the ability to con gamblers by stealing their money and running without any issues majority of the time since the owners don't usually disclose their identities or locations thanks to the anonymity aspect.

This is why legitimate crypto casinos usually prove their worth over a long period of time since a short period isn't enough to valid it's legitimacy.

Running a crypto casino is definitely tough just like any other business out there. This market is getting saturated already which is why only unique sites with special features can survive due to rising competition at present.

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August 02, 2020, 08:02:55 AM
 #36

If you talk about starting a crypto business like casinos is not that easy and also you have to gain people's trust and make your casino known. I have seen many casinos being launch and some of it didn't last long due to some issues and some are still running smoothly until now and they even have signature campaign for further advertising.


Running online casinos is not an easy initially. Unless someone has good wealth then it is fine else if big whales win during initial days itself it then be ready to shell out the money. Also, with today’s space with so many such sites up so competition is too much and trust is what matters along with the new offers to keep rolling out to attract new customers.

Competitions will be the big test for newcomers into this business, it's hard to make your way as there are already
a well established sites that providing best offers to their participants, trying  allure gamblers and attracts their
attentions needs to have good skills being creative and have decent amount of money to back up every promotions
that you'll going to provide.

This is what we have seen on this forum that new sites has to do lot of promotions and do the marketing in order to make some cut through form the competition and attract new customers. On other hand people also try exploring some of the options because of the giveaways etc but only thing is that one should not be depositing to much as you do not want to end up losing on new gambling site which may turn out to be a scam later on in this online crypto business.


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August 02, 2020, 08:11:17 AM
 #37

Every business has its own Pros and Cons. You need to concentrate more on the Cons than the Pros. In my opinion, there is a high risk involved in having a cryptocurrency based business. The volatility of the market is one of the major concerns as it affects the fiat value greatly. In the actual world, your associates and partners would prefer fiat over cryptocurrency. That is one major drawback of running this business.

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noormcs5
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August 02, 2020, 08:15:32 AM
 #38

Every business has its own Pros and Cons. You need to concentrate more on the Cons than the Pros. In my opinion, there is a high risk involved in having a cryptocurrency based business. The volatility of the market is one of the major concerns as it affects the fiat value greatly. In the actual world, your associates and partners would prefer fiat over cryptocurrency. That is one major drawback of running this business.

Having your own gambling site is a profitable business. The gambling houses are always in profit. I don;t know any gambling casino become bankrupt or running in a loss. Although you do require some good intial investment in marketing of the casino but later when it will grow, all the expenses will be covered.

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VanityWallets2015
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August 02, 2020, 10:38:46 AM
 #39

This is very ideal, especially now with the pandemic going on, every transactions happening are mostly done online.
However, this industry is somewhat more risky, expensive and does not really affiliated with government unlike others which could be another topic to talk about.
It may attract crypto enthusiasts, but it might take some time before the common people acknowledge it and the cryptocurrencies.

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traderethereum
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August 02, 2020, 11:35:51 AM
 #40

Here in the forum, the usual way to attract players if you are a new casino is to run a sig campaign managed by a reputable manager.
As we observed, a lot of these good btc paying campaigns are promoting casino sites.
I have seen a lot of newcomers here but once they started their campaign, they started to gain players as well.
And if the support of that site is active, that's when the players stick to that casino.
And speaking of campaign and rewards, this means that the dev team/owner should have enough funds to run these programs.
So it is not a piece of cake to run a decent crypto business like casino.
The signature campaign can be a way to introduce the gambling website to members here.
By launching their gambling site here, people attract to visit their website from here, and that can be a positive sign for the gambling website to still giving the best to their members.
I think not just members from here that can read the reviews because many people can see the gambling website reputation by searching from the search engine, and they drag into this forum to find the gambling site they want.
I am sure that every gambling website owner will use some money to promote, and they will not just using a signature campaign to get more and more members to visit their website.

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