Do you want to start a blockchain company but you want to go niche? If YES, here are 42 best blockchain related business ideas & opportunities.
Blockchain is the main technology that bitcoin and other digital currencies operate on. It is a technology that allows transactions to be run in a secure and anonymous way. Basically, blockchain creates a true peer-to-peer secure transaction.
The two main duties of blockchain is to secure your data (trust), and to record everything that may be of value (history). Blockchain technology is becoming secure and is no longer viewed as something that is reserved for a small circle of tech specialists, and its popularity keeps on increasing every day.
The evolution of the blockchain and by extension the cryptocurrency industry has provided people with a lot of profitable business ideas. Here are 50 blockchain related business ideas that you can start in the united states of America.
Best Blockchain Business ideas
1. Cryptocurrency Exchanges
This is a very popular business at the moment. There are a lot of companies that are offering cryptocurrency exchange. All you have to do is to replicate their formula. With this business, you can exchange cryptocurrencies like bitcoin, trump coin, Billion coin, Etherum et al. for money or for other cryptocurrencies.
Exchanges need licenses, money transfer licenses that can be pricey in some countries like in the United States (which you will need one from each state). This is the reason many cryptocurrency blockchain companies move offshore like Binance, the largest exchange by volume, moving to Malta, where regulations are not insane, taxes are reasonable, and license fees don’t cost a fortune.
So choosing where you want to open your exchange is an important factor and so is choosing tokens for your exchange, make sure not to choose any securities (as in opposed to utility tokens) or else you will need another whole set of licenses, which are also expensive.
2. Sell Goods for Cryptocurrency
You can start a business where you accept cryptocurrency as a method of payment for goods bought on your store. Alternatively, if you already have an existing business, you can integrate cryptocurrency as a method of payment to your store so as to have the advantage of transforming your entire business while remaining under your own proven strategies and business plan but now with an expanded global platform.
Many individuals have been trying to make their way into cryptocurrency, and having a business is a huge advantage. You can innovate by using applications to help you implement cryptocurrency as a method of payment for your customers. And this is super easy to do!
3. Launch Your Own E-commerce
This is a perfect example, on their website you can purchase stuff with huge savings from Amazon.com using cryptocurrency, so even though Amazon does not accept cryptocurrency directly per se, Purse.io created a way where customers pretty much exchange their cryptocurrency for Amazon gift cards with a plus of having special discounts offered by their platform.
One great way to start off is by using an online platform that already offers cryptocurrency as a method of payment, like Shopify for example. You can create your own online store in minutes, they already have over 600,000 stores using their platforms. They connect you to merchants and everything you will need to get started, all the hard work is already done for you.
4. Blockchain Consultant
It goes without saying that in order to be a blockchain consultant, you will have to be a guru in that field and if you are then this is a business that is growing daily. Blockchain consultants can be specialized in one area or more, and they can assist with everything that concerns the industry.
Consultants can help individuals and businesses to either better inform themselves or to implement their businesses using cryptocurrency blockchain. They may help strategize and assist throughout ICOs, Airdrops, developing a cryptocurrency, communities, marketing strategies; this is a business that can be very versatile.
A lot of Lawyers and developers have been adapting to becoming cryptocurrency blockchain consultants, however, it is not a necessity to be a lawyer or a developer in order to delve into this field. It is quite interesting actually how this can be stretched, so you can be a regular person who happens to know a lot about the industry and take advantage of your knowledge in a market that is still in its infancy.
In other words, there are a lot of people in need of help. Consultants can also pair up with other professionals, like developers and marketing experts and create a full-package experience for customers.
5. Become a free microtransaction provider
Before, it was close to impossible to send small amounts of money (less than a dollar) over the internet because the cost of sending such amount will be higher than the money itself.
Recently, BlockCypher released a Microtransaction API making it possible to transmit payments as little as 2,000 satoshis or roughly 0.5 cents. You can equally come up with a microtransaction system that allows for easy and quick transmission of Bitcoin micropayments.
6. Day Trading Cryptocurrency
The term day trading, is quite popular and its definition is as obvious as you would expect. It comes from the stock market day traders, who literally enter and exit trades within hours during a day period in a market that has an open/close time.
However, with cryptocurrency, even though it is still called day trading, you can trade throughout the day (24/7) but the concept is the same, to enter and exit a trade (or trades) within hours with the purpose of making small profits daily which can add up to good profits monthly.
But keep in mind, this is not as easy as it may sound, this is a very volatile market and you will need to learn about technical analysis and all the risks. If you commit to trading diligently, this can become a full-time job or a part-time job and, you can become your own boss or even start your own business.
7. Build Decentralized Apps
It would be unwise to base a business on Bitcoin Core (BTC) because the system is prone to unstable and high fees, and its developers do not have a clearly articulated and justified roadmap for its future evolution.
This means that they can, and have, drastically altered the technical roadmap to render certain business models inoperable. Instead, the sensible thing to do is to build Dapps, decentralized apps, on a smart contract platform such as Ethereum or Tezos.
8. Start a Dropshipping Business
In recent times, Drop shipping has evolved to be a really interesting Online business model that entrepreneurs can key into without needing to have a lot of start-up capital. In Drop shipping, the merchant or seller sources for suppliers of any product that he or she wishes to sell.
However, unlike a normal business, the merchant does not hold the inventory nor does he need to store the stock before getting order from customers.
Rather, the 3rd party usually a wholesale or drop ship supplier handles all the shipping and logistics on behalf of this seller. Because information is transparent and shared, channel management is easier to monitor and management costs are lower.
Due to the appealing nature of drop shipping, it is not a surprise that people are going for this model instead of conventional retail that involves buying and storing inventory before selling them. This has provided an unlimited drop shipping business opportunity on the table.
The only task for the seller is to find a quality and reliable supplier that he can trust and run ads for marketing and growing the sales. All the other tasks till the delivery of the product to the end user is handled by the drop ship supplier.
Drop shipping has gained good momentum recently, where businesses don’t have to pile up on inventory. The products are delivered directly by producers to end customers. Bitcoin has made it attractive for both Drop shippers and customers.
Drop shippers can now tap into customers who wish to buy using bitcoin, which means an addition to existing customer base. Though they don’t directly trade in bitcoin with customers—they take help from third-party bitpay service providers to accomplish transactions the easy way.
9. Build a Cybersecurity System for cryptocurrency Transactions
It is a lot more difficult to trace digital assets that operate on blockchain technology like cryptocurrencies than the typical payment systems, and as such, they are an excellent bait for hackers around the world, who have undoubtedly found various methods to steal a few cryptocurrencies without having to leave home. Companies that offer cybersecurity tools around cryptocurrency transactions will dominate the future of the industry.
10. Start a cryptocurrency crowdfunding website
Just like fiat currencies, cryptocurrency provides businesses and individuals with a powerful tool to raise funds for an upcoming or existing project. As an entrepreneur, you can equally start a business that is designed to help people attract cryptocurrency based funding from a broad community of donors.
A crowdfunding campaign allows you to decentralize the funding process by acquiring backers and supporters to provide money up front. By accepting bitcoin as a payment method for your campaign, you can decentralize things even further and reach a global audience.
11. Start a Cryptocurrency ATM Network
There is potential for cryptocurrency ATMs to be far more commonplace. Just like a regular ATMs, a cryptocurrency ATM will have the benefit of being convenient, fast, easy to use and familiar.
As cryptocurrency expands, it is expected that the demand for these types of ATM will also see an increase. By getting cryptocurrency into the hands of more people, it’s possible for users to start shopping more regularly while using it in daily transactions.
12. Hold onto Your Cryptocurrency
Holding onto your cryptocurrency is probably the smartest way to earn money using digital currencies. Cryptocurrency markets have seen nine large-scale crashes in their history, only to rebound to a new high each and every time.
The average crash saw a price drop of 64 percent, and more than half the crashes went on for 50 days or longer. The numbers don’t lie; even though doing HODL isn’t as fun as other investment strategies, bitcoin’s history has shown there is a near 100 percent chance prices will rebound to a new high after this current bear market ends.
By trying to capitalize on volatility, whether it’s within a day, within a week or within a few months, the ultimate goal is to sell when you make a profit. Trading cryptocurrency is a risky business opportunity, but it can deliver big results if the timing is right.
13. Consider a cryptocurrency Vending Machine
Cryptocurrency vending machines offer a relatively easy entry into the world of cryptocurrency businesses. Compared to traditional vending machines, bitcoin vending machines are smaller in size due to not having as many internal parts, as they do not require a cash processing unit.
Because of their small size, several convenience stores, cafes and even train stations around the world have found the space to fit them into their existing businesses.
The types of products that the machine sells is entirely up to the business owner, and existing machines sell anything from candy to drinks to personal hygiene products. As the world transitions to a cashless society, these types of vending machines are likely to see continued growth into the future.
14. Build a Real Estate Company Using Cryptocurrency
Some of the latest research shows that over 21 percent of millennials in the uk and over 25 percent of millennials in the U.S. are choosing cryptocurrency over investing in real estate.
Millennials, who may now be unsure of their bitcoin investment, should consider fundamentals. Why not find a real estate investment firm that takes payment in cryptocurrency? Or better, invest in real estate funds that offer a time-tested method that is also a socially responsible investment.
15. Promote Blockchain Products Online Through Affiliate Marketing
One of the most creative ways to build a business around cryptocurrency is through the promotion of blockchain products. The growing number of entrepreneurs trying to take their chances in cryptocurrency increases the competition for every client and token holder.
To expand user base, many companies are ready to pay for new users who visit their website, register and become customers.
Users who come from you will follow a unique link to the product (i.e., a referral link). The company owner would know that you attracted these users and pay you accordingly. You can do this through blogs, social media, or posting ads on the internet.
16. Open a Merchant Wallet Account
One of the best cryptocurrency business ideas is to set up your merchant account to accept bitcoin and other cryptocurrencies as a form of payment. Merchant wallets typically automatically convert accepted bitcoin to cash, reducing volatility and giving your customers an additional payment method. It might sound farfetched now, but so did PayPal at a point in time.
17. Create an Industry-Specific Utility Token
Presently, there is no cryptocurrencies this is used as an everyday currency. However, soon we’ll have hundreds of highly valuable currencies, each corresponding to a different underlying network (e.g., an e-commerce network, a P2P car-hailing network, et al.). Today, we have many valuable national currencies and even more valuable company stocks.
18. Use Native Tokens to Reward Customers
Two ways that today’s e-commerce shops can incorporate cryptocurrency into their Business model is using native tokens to reward customers for reviews and referrals.
A system where customers are rewarded with tokens to post their honest reviews about a shop and their services and products will draw more organic traffic to your site and provide authentic feedback for prospective customers. These tokens translate into funds that customers can use either strictly at your own shop or other shops, depending on what type of token you use.
19. Be an Online Influencer and Accept Cryptocurrency Payments
If you are making a living as an online influencer, you can benefit from the trend of cashless business by accepting cryptocurrencies as payment to feature products on your various channels.
There are companies which prefer to pay in digital currency, and this will put you one step ahead of your competitors. The global economy has evolved over the last few decades and there’s a massive move from physical to digital business models, and this continues to grow every year.
20. Content writing for Cryptocurrency Blogs and magazines
There are a lot of ways by which you can earn money from the blockchain and cryptocurrency trend. For instance, you can earn money by creating content for various cryptocurrency magazines and blogs, such as Steemit.com. If you like to answer surveys, you can also earn bitcoins by answering questions on websites like Earn.com.
21. Use Blockchain as a Platform for Sports Gambling
You can use the blockchain technology to aid sports bettors in being more successful by creating a platform for experts to give picks that are tracked and recorded on the blockchain.
This creates an uneditable, transparent record of wins/losses. You can also integrate a third-party software to bring cryptocurrency exchange functionality to sportsbooks, so you can place an order in real-time and place live bets with stop limits, much like what is seen on the NYSE
22. Start a cryptocurrency Brokerage Firm
There are a lot of people who want to invest in cryptocurrency, and there are professionals who can help you with bitcoin investing. You can take advantage of this by starting a cryptocurrency brokerage firm. Most cryptocurrency can be bought, sold, exchanged and gifted just like stocks or bonds.
As a cryptocurrency broker, you will do the work of buying and selling bitcoins for your clients and charge a fee for your services.
23. Register blockchain/cryptocurrency Domain Names
Another blockchain business opportunity is to register blockchain or cryptocurrency domain names and sell them for a profit later on.
Because the cryptocurrency niche is getting really popular, domain names are in high demand. So it’s best to secure the most requested cryptocurrency domain names and take advantage of this opportunity. You can start with bitcoin related domain because currently, bitcoin is the most popular cryptocurrency.
24. Create and sell blockchain user manuals
To take advantage of the versatile world of blockchain and cryptocurrency, you can create and sell blockchain user guides and manuals. It is a fact that a lot of people still struggle with the technicalities involved with this cryptocurrency, so you can create manuals that simplifies it.
You can also create training programs which can easily explain to a common person what Blockchain is, what is it required for and how to use it.
25. Start a cryptocurrency Mining Business
Mining is the more comfortable way to get bitcoins compared to trading. Even though mining for bitcoins is not very easy these days, it is still possible to do it with the right know how.
26. Create a Digital Wallet Platform
The digital wallet for cryptocurrencies is a secured online software that allows users to access their cryptocurrencies through a private key. It also allows users to send and receive digital currencies. Creating a digital wallet platform is great if you want to start a blockchain related business.
27. Write and Sell Books About Blockchain Technology
With the rise of the blockchain technology, enthusiasts want to know more information about blockchain, cryptocurrencies, and how they can profit from it. You can start writing books or eBooks about the blockchain and cryptocurrencies, sell them for a profit, and help others learn.
28. Complete Microtasks for cryptocurrency
Another way one can participate in the bitcoin revolution to make money is by completing microtasks for bitcoin and other cryptocurrency. You can set up your own platform to carry out these tasks, or you can leverage on already working platforms like Bituro, Bitcoin rewards, Coinbucks, etc.
Bituro is a smartphone app that pays you in bitcoins for small tasks such as watching promotional videos, filling out surveys and testing apps. Bitcoin Reward enables you to earn for watching videos, downloading and testing apps, filling out market research surveys and other minor tasks.
Coinbucks is a smartphone app that allows you to earn bitcoins for playing mobile games, downloading smartphone apps and completing online promotional offers. You can start completing tasks on these platforms to earn bitcoin profits.
29. Insurance
Of the many business applications for blockchain, the insurance industry presents one of the best opportunities for breaking into the industry. Blockchain can easily organize, track, and secure data. It can also execute agreements. All of these can benefit every kind of insurance.
Here are just a few advantages insurance companies are already reaping from using blockchain for insurance:
- Processes are simplified.
- Turnaround times are reduced.
- Improved efficiency and risk management mean reduced premiums.
- Fraud detection and prevention is greatly improved.
- Policy information and owner health/driving history is available to authorized parties.
At this moment, regulatory compliance seems to be the major roadblock to the full adoption of blockchain technology in insurance. Even so, there is no stopping the disruption that is sure to transform the industry.
30. Become an Online Trainer
There are a lot of people in a lot of places looking for more information on Blockchain and cryptocurrency; in fact, there is a whole internet out there just waiting to “crack the code” on Blockchain information.
People want to know what is going on about the favorite cryptocurrency. You can decide to provide help and information to these people by becoming a blockchain/ cryptocurrency trainer. You should know that selling information is a very neat way to make money in today’s world.
All you really invest is your time, and you can sub-contract or outsource things you may not do well. In this business, there is no overhead cost to worry about, and you would enjoy great returns if you know how to market your business. You can accept bitcoin as payment, but it all depends on you. If you speak another language, you can expand your business to foreign markets as well to earn more profit.
31. Cryptocurrency escrow Agent
If you build a business name that is trustworthy, then you can use this trust to start a cryptocurrency escrow business. An escrow serves as a middleman that arbitrates over disputes that may involve online purchases, freelance contracts, or other business and trade arrangements.
You job will be to hold onto a payment for the for the seller and the buyer pending when the transaction is completed. The payment is made to a wallet address which requires the signatures of the buyer, the seller and the escrow agent in order to send a transaction.
If everything goes well, then the buyer and seller sign and payment is made, but if there is a problem, then the escrow agent must choose whether to sign the payment or the refund. You can create a profile on websites like Bitrated to promote your services as an escrow agent.
32. Become a cryptocurrency oracle
In this case, an oracle is a translator for information provided by an outside platform. Oracles provide the necessary data to trigger smart contracts to execute when the original terms of the contract are met.
These conditions could be anything associated with the smart contract – temperature, payment completion, price changes, et al. The marketplace for these highly specialized middleware software models is growing rapidly, and as new ways to utilize Blockchain technology are being conceived every day, the demand will only increase.
Oracles publish information over the blockchain which can be used for betting, for financial derivatives, or for smart contracts. This is a very profitable business one can start, but you have to be very knowledgeable in blockchain programming before you can make any headway in this area.
33. Create easy tools for cryptocurrency traders
Perhaps, Bitcoin traders are the most active and largest user group in the world of cryptocurrencies. Till date, bitcoin/cryptocurrency trading tools are quite complex and can only be effectively utilized by programming gurus. You can, as an entrepreneur, create bitcoin trading tools that are easy to use and can be understood by someone who has no programming experience.
34. Buy and flip blockchain related apps and websites
Website flipping simply means, purchasing websites, improving them and then selling them for a profit. There are many different websites and apps that could benefit from integrating digital currency into what they offer.
It is also possible to buy websites and apps for much less, and to ‘flip’ them within a fairly short period of time. Integrating digital currency for in-app purchases or for user-rewards schemes, or simply converting stores to accept BTC payments may be worth considering as ways to add value to an established business. This business is suitable for a seasoned programmer.
35. Create a cryptocurrency faucet
Cryptocurrency faucets are a reward system in the form of a website or app, that dispenses rewards. The most common form is a satoshi, which is a hundredth of a millionth BTC, for visitors to claim in exchange for completing a captcha or task as described by the website.
It should be noted that faucet owners make money by placing ads on this highly engaging websites and you can build a faucet within 10 minutes.
Bitcoin faucets may not give you huge amounts of bitcoin at a time as one satoshi is equal to 0.00000001 BTC, but over time the money can add up and you could find yourself making a substantial amount of extra cash without having to do all that much work.
36. Blockchain Blogging
A blog is an individual website that is updated on a regular basis. If you love to write, then you can open up a blog where you can discuss a range of issues that are related to blockchain technology. There are many different ways by which a blog can be monetized so you should not stick to just one.
You can make money through blogging by putting up adverts on your blog, selling your own courses and books, affiliate marketing and of course Google AdSense. The more traffic you have, the more money you’ll make. Even if you post to your blog every day but only have ten people looking
37. blockchain Podcaster
A podcast is like a personal radio show where you talk about specific topics. You can create a podcast aimed at talking about topics related to blockchain and cryptocurrency. Before you think about monetizing your podcast, you have to make sure that it is filled with rich and engaging content. You can monetize your podcast through sponsorship, affiliate marketing or even sale of your own product.
38. Algorithmic Trading
Like any currency, stock or other financial product, money can be made by judiciously buying and selling bitcoins. You can try doing this yourself, but you need to have incredible insight into the market to have any success. Just like those other financial products, however, some traders have created automated systems to buy and sell cryptocurrency based on a mathematical algorithm.
39. Start a cryptocurrency arbitrage fund
Cryptocurrency arbitrage is the buying of cryptocurrency on an exchange where the price is very low and selling it at an exchange where the price is relatively higher. The prices of most cryptocurrency vary on various exchanges due to the fact that the markets are not directly linked, and the trading volume on many exchanges is low enough that the price does not adjust to the average right away.
It is possible to profit from the very tiny differences between buy-price quotations at different exchanges but it requires very good trading software and Internet connection.
40. Build smart contracts
The concept of smart contracts was first conceived by researcher Nick Szabo in the 1990s. Smart contracts are contracts that use software and protocols to facilitate, verify, or enforce the negotiation or performance of a contract, eliminating any third parties/laws.
If you have the knowledge and experience, you can write software that will run on blockchain in order to enforce contractual price agreements and to reduce the risk of bitcoin price volatility. Smart contracts have the potential to replace archaic paper contracts in the future, and offer dynamic agreements that tie into technology systems.
41. Vlogging
Every day, over 5 billion videos are watched on YouTube and your video can be one of them. When well-managed, a YouTube channel can be just as or even more profitable than a traditional blog. For starters, you don’t require a domain nor do you need to spend money on hosting your channel.
You also have a large audience and a readymade platform for you to work with. Furthermore, AdSense approval through YouTube is easy and what’s more, you can start earning from the very first day you create your account and make a post. You can just go to YouTube, upload a video and you can get started from there.
You can start a vlog that discusses all things related to blockchain and cryptocurrency. You can get paid by enabling Google AdSense on your channel, through sponsored videos and through sale of your services or the services of others on YouTube.
42. Start a cryptocurrency Paid-To-Click Site
This is similar to cryptocurrency faucets in a way, however, in this case you will be selling cheaper paid advertising than giving away free cryptocurrency to people who decide to view those ads. The site is primarily created to let advertisers place ads for a fee, while you distribute your earnings with the people who view the ads.
You can search on the web on how to start a cryptocurrency paid to click site. The biggest bitcoin paid to click sites are btcclicks and get-paid, but you can as well start your own site and with good marketing skills carve a niche for yourself.
In conclusion, blockchain technology has evolved dramatically, and experts believe that they are going to grow and become more popular in the coming years. Take advantage of this and get one step ahead by considering various blockchain business opportunities that are at your disposal.