Investing in Cryptocurrencies can be tricky. There is a high level of volatility and unpredictability associated with it. But there is no doubt that Crypto can also give huge returns on a successful investment. So here is a list of 3 Crypto Areas that can be your next potential investment.
Cryptocurrency Exchange
This business idea involves launching a Crypto Exchange that provides individuals (traders) and legal entities an uninterrupted safe and transparent service for transactions on the purchase and sale of various currencies and cryptocurrencies with top-class technical customer support.
The revenue model can be in the form of
You will need to get advice on the legal assessment of launching such a business in the desired region along with the selection of the best software service possible.
The platform should also offer transparency and should be able to build the trust of users considering how hard that is in today’s crypto market.
Enough focus should be put on UI/UX to increase User Satisfaction.
Online auction or trading platform
This involves launching an online auction or trading platform to provide users a convenient and profitable service for conducting transactions for the purchase and sale of various digital and other physical products using auction models.
This can either involve you conducting auctions on your own or provide service like eBay allowing users to create their auctions.
The credibility of the products listed for auction is one of the most important things to remember when launching a platform like this.
Once labeled a scam, it is very hard to get rid of the label. The company should focus on building trust from users and provide top-class customer service to retain all the customers that use the platform.
Delivery of the products must also be done in a fast and smooth manner.
Cryptocurrency processing as your payment business
This involves creating an online business for conducting cryptocurrency transactions in various blockchains through integration through the API.
You will need to get advice on the legal assessment of launching such a business in the desired region along with the selection of the best software service possible and a reliable payment gateway, with which any seller can start accepting cryptocurrencies as payment. It is also important to support all major cryptocurrencies, not just BTC and ETH. With the help of cryptocurrency processing, you can start accepting payments worldwide.
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Revenue Model can be in the form of
- commissions for input/output of digital or fiat currencies.
- commissions from trades and transactions.
- commission for listing products at auction;
- paid rates and tariff packages;
- other monetization methods.
The Revenue model can involve:
- commissions for input/output of fiat or cryptocurrencies
- commissions for currency conversion
- fees for listing cryptocurrencies,
- other monetization methods.