Got the money to spare, and have FOMO in spades? Turn that fear around and invest in some bitcoin business ideas instead. Here are 5 you could invest in today.
According to Wall Street strategists, a single bitcoin could be valued as high as $55,000 by the year 2022.
The main reason for this sharp rise in value is high demand and low supply.
Benefits of bitcoins such as low transaction fees, universal recognition as a medium of exchange and more have led to an ever- increasing demand for this digital currency.
Unfortunately, only 21 million Bitcoins can be mined. Its founder Satoshi Nakamoto instituted this cap.
This means the value of Bitcoins will continue rising over the years as demand soars.
Here are five Bitcoin business ideas for crypto-savvy investors.
1. Build a Bitcoin Cyber Security System
A comprehensive security analysis conducted in Edinburgh University found weak spots in online bitcoin wallets which hackers could exploit to gain access to user accounts.
By using a simple bitcoin wallet malware, the team of analysts was able to intercept data in transit from user computers to their wallets.
This proved that the communications systems adapted by popular bitcoin companies are not totally secure.
As demand for bitcoin continually builds, supply dwindles and the value of bitcoin skyrockets, companies that can guarantee bitcoin security will become even more valuable and will dominate the industry in the coming years.
2. Establish a Bitcoin Consulting Business
As businesses become aware of the benefits of transacting with bitcoin, they will need help from an experienced bitcoin specialist to incorporate it into their model.
As a bitcoin expert, you can help companies understand the technology, use bitcoin to manage corporate funds, save money when transferring funds to other international businesses through bitcoins, and even enhance their bitcoin wallet security.
You can also make money by teaching businesses the best bitcoin security practices to adopt to avoid hacking.
Since bitcoin is a complex subject that is continuously evolving, you are always guaranteed steady work and a lucrative income.
Here are some golden tips for blockchain investors you can share along the way.
3. Become a Bitcoin Broker
If you have a substantial investment of either bitcoins or capital, you can set up a bitcoin brokerage platform where people can sign up to buy and sell bitcoins.
The barriers of entry into this field are very low.
Depending on your jurisdiction, you may be required to obtain a brokerage license to get started.
In most countries, however, this is even not necessary.
Bitcoin brokers operate by trading bitcoins at fixed prices. For some people, this is a superior alternative of buying and selling bitcoins compared to conventional exchange.
Over time, as bitcoin’s popularity soars, such service providers will become more popular and their businesses more lucrative.
To better understand what is involved in becoming a bitcoin broker, it’s best to first study top bitcoin exchange platforms.
4. Start a Bitcoin Gambling Casino
Online casinos where players can make deposits and withdrawals via bitcoins are becoming increasingly popular among crypto-savvy investors.
These casinos are preferred by players due to their privacy, as players don’t have to share their personal information with a third party.
They are also inexpensive. Unlike paying with a credit card, there is no chargeback fee.
As an investor, you benefit from zero government deductions since bitcoins are not taxed. Legally speaking, they are not considered to be “money.”
5. Build Bitcoin Websites
You can start a bitcoin business where you build and populate websites with bitcoin-related content, build a readership and then sell the websites.
Alternatively, instead of selling, you can monetize these websites with ads and affiliate links to bitcoin products and services to generate passive income.
This can be done successfully through a thorough understanding of digital marketing campaigns and how best to implement them.
The Bottom Line
Bitcoin is a disruptive technology that has quickly changed the way businesses and people process transactions. Take advantage of this technology by adopting any of the aforementioned five bitcoin business ideas to increase your returns.
Need more information about Bitcoin, blockchain, and cryptocurrency? Check out our post on how blockchain is transforming the internet.