How can I start a business that offers crypto services?

Reatim

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Quote from: Oilacris on July 06, 2019, 06:56:38 PM

No people would handled out funds if they cant see any benefits and the main question is,how they can trust you?

perfect question mate,we even have a problem encouraging people to enter crypto investment and here OP are offering Holding business?this needs Full trust from the possible clients and the problem is how can you believe them to trust you?considering that he is member rank here and even if he has a established name outside crypto yet was not enough reason to gather many clients.
and also considering that the capital came from a Loan .

Quote from: Oilacris on July 06, 2019, 06:56:38 PM

Getting that big loan sounds too easy but acquiring it would really be hard if you don't have any assurance on the amount
you plan to loan.

yeah he can be possible to get that Loan maybe he is confident as he can offer collateral from the loansharks or banks but the problem is how can he make profits from this?because if not he might end up paying the interest of loans from the money he borrowed and this is a suicide.

GideonGono

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Quote from: xabre on September 21, 2019, 08:38:02 PM

Good ideas start business using bitcoin as crypto service, you have looking more detail about what is your business, have many bitcoin member are interested or not.

Specially if it is known on their area because if not, there are no interested buyer would use crypto. He should know a lot about investment specially on how he can grow his business.

HarmonyA

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Quote from: Pipdips on July 06, 2019, 03:36:18 PM

What would the process look like?

If I registered a business name and then got some business loans to buy more coin. It would be a HODL business. Or a boutique crypto investment firm. I just want that loan to buy and hold onto a bunch of coin and watch it soar. There would eventually be a legit service to offer through the business but at first I just want a giant loan to buy a bunch of bitcoin.

Sound idea? Yes or no

Receiving payment in digital currency is one of the most clear use cases for organizations.
Organizations can likewise pay their laborers in cryptographic money. In any case, on account of value unpredictability and restricted liquidity, this is as yet extraordinary.
Built up organizations that are not kidding about getting into the blockchain and digital currency segments can look to either gain or build up a startup or procure corresponding advances that offer advantages to their current tasks.

Jocuserious

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How much skills you have about cryptocurrency? Start crypto business not difficult but here making profitable more difficult if you haven't any skills. First this you need take consider your head crypto business lot of risky so go trading Investment and mining section and keep learning about crypto and increase your knowledge then you will be underestand, which better for you.

BennyK

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Quote from: Dr.Osh on September 08, 2019, 02:53:54 AM

I don't recommend borrowing big money to buy coins in large quantities. it's too risky. many people have failed because of that, especially if you are not a good chart observer. it's better to look for other ways that don't involve other people, like selling, or something like that related to crypto. In fact, when you want to do business like trading, I don't recommend it from borrowed money.

In fact, it is a basic business principle not to borrow huge sums of money when starting a business because as at the time of the business inception, the CEO is still unaware of the returns hence cannot tell when and how to pay the loan. Borrowing can be done when the business is already established and CEO knows how the market goes for the business, here the profit making margin can be seen hence predictions can be made as to how and when to repay the loan when taken.

xabre

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Good ideas start business using bitcoin as crypto service, you have looking more detail about what is your business, have many bitcoin member are interested or not.

Prettyme

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Starting a business about cryptoservice were really hard and risky because you dont have any idea if many people already knew bitcoin and how it works. So as business man you need to study first the location and the numbers of people knew bitcoin so if theres only few then let them educate about cryptos and it will be your steppingstone in putting up a business like this.

ololajulo

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Before going into cryptocurrency as a tender value for a business, consider if the business idea will need cryptocurrency for payment, . Consider if the user of the coin will be within internet use, if the business model can handle the payment system either through the business website with exchange unit or other avenue. The coin must be accessible to every interested user and must be secure.

stepwilli

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Quote from: Pipdips on July 06, 2019, 03:36:18 PM

If I registered a business name and then got some business loans to buy more coin. It would be a HODL business. Or a boutique crypto investment firm. I just want that loan to buy and hold onto a bunch of coin and watch it soar. There would eventually be a legit service to offer through the business but at first I just want a giant loan to buy a bunch of bitcoin.

The question is, why should anyone give you their asset to HODL, when they can do that themselves? I don't really see anything difficult in HODL, because anyone can do that; it's not a hard job to do. You should come up with a different idea than that. If it's only this, then you will hardly convince anyone. People make use of their private wallets when they want to HODL, that way they can easily monitor their assets and sell it anytime they want.

Do you ever think about the risks in running the business for others? What if they invest it in your hands and you happen to lose it? Then what are you going to do, repay them? There are much better things to do than that. What about you start a delivery service in your locality, where you charge crypto as payment? Or maybe something else that will get the interest of people without doubt.

abhiseshakana

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Starting a business means hoping for the best but planning for the worst with a series of predictions, projections, and simulations. Businesses need a strategy to get large profits with the smallest possible risk. Business capital loans are not wise when opening a business if the plan is not ripe unless you are very experienced in cryptocurrency.

Why not build a simple business with not too large capital, such as facilitating any payment (goods, services, bills) with cryptocurrency on a small scale. For example, starting from close family and friends, then neighbors and relatives.

Prettyme

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Quote from: Pipdips on July 06, 2019, 03:36:18 PM

What would the process look like?

If I registered a business name and then got some business loans to buy more coin. It would be a HODL business. Or a boutique crypto investment firm. I just want that loan to buy and hold onto a bunch of coin and watch it soar. There would eventually be a legit service to offer through the business but at first I just want a giant loan to buy a bunch of bitcoin.

Sound idea? Yes or no

I think investing in bitcoin nowadays is not a good idea and your profit is coming from a giant a loan, it's too risky. I know that investing with bitcoin you need to be optimistic but this time you need to think critically.

barbara44

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Quote from: illnino on September 12, 2019, 05:11:41 AM

You should never borrow money for it. Besides, you must not invest more than you are ready to lose. Due to the volatility of digital money, you should never take a loan to buy it or sell a car/apartment for this purpose. The stories of the winners, who invested in time and are now secured until the end of their lives, are based on the multiple numbers of losers left with nothing.

I would not advise him to take loan neither too, but one thing about life is that everything is all about risk taking. If you see some people that are extremely rich today, it is because they are risk takers. I have a friend that has all his life savings as about $30,000, and when he decided to go into importation, what would cost him to start the business was amounting to $31000, he spent all the money for it and even borrowed the extra $1000, and had nothing to spend.

When the container arrived, he was able to triple the amount and that is how he started growing till he became a millionaire, and if he had not taken such risk, there is no way he would not have even spent the $30000 finish on things that will not make his future and he would still survive, so taking some risk sometimes can be worth it.

bitbunnny

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Quote from: Polar91 on September 13, 2019, 04:01:17 AM

It sounds too risky to loan a lot of money for cryptocurrency assets. I understand that you're too optimistic to the future of crypto but that's too risky. The volitality of the market in crypto is overwhelming thus your loan could be devalued in just minutes if you're unfortunate. On the other hand, if you really know that you're sure about the future of crypto, there's nothing wrong to give a shot.

Couldn't agree more. I know many people who ended in bad financial problems because of crypto related loans. My advice would be to think twice.
Also, accepting crypto as a payment method for business is huge risk. Before you do anything make thorough analysis and calculate all the risks in their worse options to be sure you can handle them.

Polar91

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It sounds too risky to loan a lot of money for cryptocurrency assets. I understand that you're too optimistic to the future of crypto but that's too risky. The volitality of the market in crypto is overwhelming thus your loan could be devalued in just minutes if you're unfortunate. On the other hand, if you really know that you're sure about the future of crypto, there's nothing wrong to give a shot.

davinchi

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The problem with crypto lending is that you will not be making money based on crypto most of the time. Lets say you got 1 bitcoin loan, and you are planning on selling something for 100 dollars, the amount you will have to pay in bitcoin will stay same but the amount of crypto you will profit will change, what if you take out a loan at 1 bitcoin 10k but than 1 bitcoin becomes 50k just in couple months? Now you have a bigger debt and you will have to pay it nevertheless.

Hence, I would suggest dollar payments and dollar paying it back but just using bitcoin for the transaction. You get 10.000 dollars in loan, you pay back say 12.000 but all of that is done with bitcoin because its easier to send and receive globally than using fiat, I mean its not ideal but that is the only way.

illnino

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Quote from: Dr.Osh on September 08, 2019, 02:53:54 AM

I don't recommend borrowing big money to buy coins in large quantities. it's too risky. many people have failed because of that, especially if you are not a good chart observer. it's better to look for other ways that don't involve other people, like selling, or something like that related to crypto. In fact, when you want to do business like trading, I don't recommend it from borrowed money.

You should never borrow money for it. Besides, you must not invest more than you are ready to lose. Due to the volatility of digital money, you should never take a loan to buy it or sell a car/apartment for this purpose. The stories of the winners, who invested in time and are now secured until the end of their lives, are based on the multiple numbers of losers left with nothing.

Dr.Osh

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I don't recommend borrowing big money to buy coins in large quantities. it's too risky. many people have failed because of that, especially if you are not a good chart observer. it's better to look for other ways that don't involve other people, like selling, or something like that related to crypto. In fact, when you want to do business like trading, I don't recommend it from borrowed money.

Layers318

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Firstly, you need the various expertise required to start a particular business. Once that is success, the business CEO can integrate cryptocurrency services by first accepting cryptocurrency as a form of payment and can offer discounts to customers who purchases with cryptocurrency. This will encourage most of the customers to pay in cryptocurrency.
Also, ones the business get well established, CEO can decide on creating the companies own cryptocurrency which will serve as a major facilitator within the business ecosystem.

SirLancelot

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Quote from: ?? on ??

Stop-stop-stop. You want to register a so-called business just to get a loan and invest in BTC? Looks pretty suspicious and fraudulent. And if you can't return the loan? What if banks refuse to give it? Get it right, it's impossible to run a business without real products/services. Without something that can generate ROI. Trading/investing isn't a business, it's a personal activity as long as you don't run a fund (too complicated and impossible for newcomers, tbh).

Look at me, from Superorder team. We created the crypto trading terminal. It has a unique offer - custom strategies, automation, bots, and so on. It generates value for users. And it got $500K venture investments. That's the case of crypto business and it can be a good idea. Think about it.

I don’t see anything fraudulent here, he is the one taking loan and he is the one at a bigger risk, the people that would be borrowing him the loan would have probably give him the condition that is needed to obtain a loan and if he is up to the task and they know that he cannot disappear, they will surely give him, and it is now left to him to know how to use it.

It is even a risky game for the op to take, taking loan is the last thing that I will ever do in my life for a volatile market when I know that there could be a big jump today, and you will have a big dump tomorrow which may never rebound back so soon, then when the time of loan repayments comes, one will have to be talking stories. No matter how big the business is, I would never take a loan for it.

dengpei

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Quote from: Pipdips on July 06, 2019, 03:36:18 PM

What would the process look like?

If I registered a business name and then got some business loans to buy more coin. It would be a HODL business. Or a boutique crypto investment firm. I just want that loan to buy and hold onto a bunch of coin and watch it soar. There would eventually be a legit service to offer through the business but at first I just want a giant loan to buy a bunch of bitcoin.

Sound idea? Yes or no

Ever heard of ponzi schemes? This is how they usually start! What happens when you lose your loan money when the market goes down? You will probably look for another source to cover the repayment costs of the loan, then another and another until a 'scheme' starts to run. The most important question to answer when you start a business is"What problem do you want to solve?" Answer that and your. Business will have a stronger foundation.

Topic: How can I start a business that offers crypto services? (Read 1197 times)