Cryptocurrencies have been around since 2009 but they are yet to be adopted mainstream. The opportunities for money-making by investing in Bitcoin businesses can be the next big thing for aspiring entrepreneurs. Cryptos offer a great deal of transparency, flexibility, ease of transactions, scalability, and profitability; so, now is a good time to explore different Bitcoin business ideas that could help you rake in the moolah in the next few years.
9 best money-making Bitcoin business ideas that you can consider:
- Crypto payment services: Have you looked at the possibility of offering cryptocurrency payment solutions to businesses so that they can also accept payments for their goods in crypto? Crypto transfers may be faster and smoother but they demand high-end security and providing this can be a profitable business option. For example, Coinbase Commerce has been extending its services in this area for some time now.
- Crypto exchange: Setting up a cryptocurrency exchange may turn out to be an easy way to make some quick buck through the Bitcoin. People are always on the lookout for platforms that will enable seamless and secure crypto transactions. As an owner of such an exchange, you can make money through fees charged for withdrawals, deposits, and money transfers.
- Mining: You must have heard of mining as a profitable way to earn more Bitcoins. Earlier, one could use regular computers for mining, but today, the costs of mining are steep since the process is energy-intensive and demands specialized mining equipment.
- Start crypto payroll services: Using this, businesses can pay salaries to their employees. When you start such a service, you can help a company take care of its payroll accounts by making arrangements for salary payment in both crypto and fiat currencies. In exchange, you can charge the business, which is your client, fees on a per-employee basis.
- Crypto lending: If you already have Bitcoins in your wallet, why not lend some of it to those looking to buy Bitcoins? You can decide on an interest rate and seek help from crypto exchanges in making a lending contract. For instance, Coinbase and Binance are exchanges that offer solutions for lenders and borrowers.
- Crypto asset management: When you understand the working of the crypto ecosystem, you can use your expertise to manage assets for others. For instance, you can become a coach, offer investment tips, help with financial planning, offer financial analysis, etc. You can do this both on-site and remotely; the latter is a better option as it saves you overhead costs.
- Legal/accounting services: You can consider offering legal or accounting expertise to clients investing in cryptos. An area that investors usually need help with is tax regulations. So, as a professional crypto accountant, you can help businesses and individuals stay updated about the changing tax laws and prepare their tax filings.
- Freelancing: If you have talents to showcase to the world like writing, designing, or painting, you can always demand payments in cryptos. Proficient freelance writers help to build brand image and improve site rankings through quality content; why not make your own rates for getting paid in cryptos?
- Bitcoin escrow services: Here, you can be middlemen for transactions in cryptocurrency between parties. You will protect sellers from unscrupulous buyers by forcing the buyer to make an upfront deposit in crypto. Escrow services can make money on the fees for their services and can be a viable alternative for businessmen looking to make more money in Bitcoins.