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.

Pipdips

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Traditionally, yes, any ordinary Joe in the room can proclaim that buying Bitcoin with Credit Card is not wise at all. However, there is a slight possibility that Bitcoin is something new and that Bitcoin challenges that old thought process about trading with leverage. It could even challenge that old way of thinking that you should not invest what you can not afford to lose, because with Bitcoin, the rules are not exactly the same. The playing field and landscape is somewhat different. The credit card companies look at Bitcoin differently than other "property" like real estate property. Bitcoin is a much different beast. Bitcoin remains as an undefined financial instrument.

Answer this: Why have credit card companies have been so quiet about Bitcoin?

el kaka22

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You can just use USDT if you want to deal with crypto and accept cyrpto but afraid of the volatility? I mean just accept bitcoins and any other coin you want when you are selling something but in your account change it to usdt as soon as you sell something. That way people will be able to pay you in crypto but you will be keeping it in usdt form which would mean you will lose only a bit with trading fee but that is about it for the difference of accepting and using bitcoin versus accepting bitcoin but using usdt. That is why if you want to open to world of crypto either in a website store or even a regular store you can just accept any crypto you want, coinpayments allows you to get any sort of currency you want but switch to anything you want automatically, that way people can pay for example in EOS but you will get USDT automatically.

Pipdips

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Quote from: ?? on ??

Why don't you put up a business that will accept crypto coin payments instead of business that will just to buy and hodl. From what I have understand, it's like a pawnshop thing or I really don't know how your business would be like. If you'll put up a coffee shop it's still good accepting coins while the market is in bear is good then you will gain profits after the pump. Two birds in one stone, right?

The coffee shop concept is faulty because there are not many people who own Bitcoin, and the people who own Bitcoin are not exactly going to use their Bitcoin (they might still prefer using cash to buy things). Also coffee is just one product and a boring one at that because people just buy coffee and then leave (and when customers leave stores they stop spending their money).

BUT...

If we rent a brick and mortar flex-place (warehouse style) location and put in a coffee shop, with Bitcoin ATM, gaming stations that have games connected to crypto-currency, energy drinks and vape products that can be purchased and consumed at the gaming stations. The gaming stations will be rented by the hour by paying with Bitcoin, and made somewhat affordable for younger people but it is also a place they know they will blow all their money but enjoy doing it. We can also sell crypto-currency products like cold storage wallets, and funny t-shirts and stickers about Bitcoin. We can probably include other cool futuristic products that will appeal to our gamer client base, like electronic scooters, electric skateboards, drones, and other products that are the newest, the latest, the greatest. Cutting edge stuff like that, plus other cutting-edge services like the best pre-releases on games and counsels, so we will work closely as business-to-business insiders for gaining access to pre-releases and sneak peaks, oh, and definitely we can cater to the Artificial Intelligence and augmented reality scene (!!!) and always be a step ahead the rest, with the latest and greatest robotics technologies for consumers that will keep people coming back to the store and keep people inside the store hanging out and spending money, participating in gaming events, taking classes, and networking with people, connecting to people and the technology, making friends. It will be a futuristic store that is a step ahead of the rest from around the world. It will be located in a cool yet gritty USA city like in Brooklyn, New York or Oakland, California. It will be decorated cool like with graffiti inside the building similar to graffiti at skate parks, so that it will not be a totally sterile environment but more of a creative space for making people feel more comfortable. Now we are talking!!!

Pipdips

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Quote from: SirLancelot on July 31, 2019, 01:50:41 PM

your idea can only functions better in a traditional currency and not in a cryptocurrency.

Who ever said my business only uses cryptocurrency? In fact, if I start the Cryptocurrency Society of America (CCSA) it would have to only accept USD as a payment option. Why? Because to accept Bitcoin is totally insane for most businesses. We need money, or at the minimum, stable coins. My point is that one does not need to charge cryptocurrency to offer crypto-related services. We can take cash, marbles, donuts, heck we can accept gold, silver, diamonds. Basically anything except Bitcoin because it is so volatile on a day to day basis.

--

Another idea is to scrap this whole CCSA idea and instead just do investing. The business can be for helping other people invest in crypto-currency for themselves and their family estates. A Digital Asset Hedge Fund Trust Firm.

SirLancelot

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Quote from: Pipdips on July 30, 2019, 12:14:49 PM

Most of the people replying here only read my first post and did not bother to read the rest of the content of this topic.

There are a few of us that are already private messaging about building something from this topic.

But you already got some answers from some of them, which they encourage you about the idea of starting a business that offers a cryptocurrency service which we have lots of them too in the market already and had raised funds through ICO, but in your own case, your idea can only functions better in a traditional currency and not in a cryptocurrency.

Getting the cryptocurrency loan needed to start what you proposed is not a child’s play and crypto loan is too risky for me to advise you to take. It is better you start thinking out of the box, and then think of other avenue where you can function perfectly well. There are thousands of projects that you can invest in which you need time to save the money up, but not to ever borrow crypto load to start such system.

Pipdips

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Most of the people replying here only read my first post and did not bother to read the rest of the content of this topic.

There are a few of us that are already private messaging about building something from this topic.

Lawrenzoo

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Quote from: MidnightWolf on July 28, 2019, 05:44:22 AM

I think that it is necessary to develop your business according to the already existing rules, but everywhere you need to advertise the possibility of using cryptocurrency. If among all your customers there are cryptocurrency users, they will not only use cryptocurrency, but will also fulfill the role of your main advertisers as to the fact that your business also works with cryptocurrency, and not only with fiat.

There is a musician that I love so much, and a part of the lyrics to one of his song say “it is better to try than not to try at all”, there are lots of people that their dreams has been shattered simply because they fail to speak out or take a step because of the fear of rejection.

There is something that my grandfather said to me, he said you have to stop being afraid of human being, because they are same as you, if there is anything you need to ask them, never be afraid to do so, there is only two language they will use for you when you do. It is either they say YES to you or they say NO, none of the two will kill. So what I am just trying to say is that there is no point discouraging him, it is best if he tries and fail than not to even make attempt to try it and see if it will work.

Pipdips

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Quote from: ?? on ??

You can start you business with crypto but you have other source income because crypto is not always on higher price, many time you faced moment where you have lost your assets because price down.

When Bitcoin price is downtrending, we only accept USD.

When Bitcoin price is uptrending, we only accept Bitcoin.

SvonioneFromMangoCoinz

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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

It is definitely not good. Because there are a lot of professional investors out there and you still have no significant achievements to convince many investors in the crypto market.
Besides, you should not open a business. You should only call and open investment funds.
First, you have to show people your achievements so that people can trust your profitable investment philosophy.

pragna

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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

Your thinking is good but i think by making loan you should not invest into crypto market. Because this is very volatile and there are too much risk in big investment. Is is decentralized and nobody can control it. So there are 50/50 chance to gain and lose. So before take loan you should think more and more.

Pipdips

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Quote from: ?? on ??

Well, the problem of starting a business that provides crypto services is always difficult as many people say, trust and prestige are not easy to build in this virtual world,

I am as legit as they get. Look here in this topic, I am discussing the business idea openly and inviting others to participate.

Most large professional societies that encompass a large country such as the USA probably begin with a set of free memberships. Then extending it to academics, government stakeholders, amateurs, students, and free memberships for select professors and then slowly grabbing and picking great candidates and insiders whom also believe in the organization.

In fact, since I am the only one in the society, I am shutting off free memberships right now. It is something of value and we need the best people involved. It is not just some free sign up like at this forum. Most professional societies have associate members that pay $100-200 or more for a one year membership. Rightly so!

As a professional society we will have a robustly designed structure with trustees, cabinets, students, treasurers, presidents, website admins, HR, officers, codes of conduct, the whole nine yards. The idea of having a top of the mill professional digital currency society has potential. It has way better potential than the original idea.

Our Mission: Cryptocurrency Society of America is dedicated to advancing the knowledge of all persons with a personal or professional interest in crypto-currency. We are based in the United States and Canada.

MidnightWolf

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I think that it is necessary to develop your business according to the already existing rules, but everywhere you need to advertise the possibility of using cryptocurrency. If among all your customers there are cryptocurrency users, they will not only use cryptocurrency, but will also fulfill the role of your main advertisers as to the fact that your business also works with cryptocurrency, and not only with fiat.

Pipdips

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I am beginning to realize this could be better as a non-profit organization that is not money driven... The money aspect of Bitcoin is looking too troublesome, does anybody know what I mean? The cryptocurrency business is insanely greedy. Instead of thinking of charging for these services and talking about these big loans and being greedy, let's keep it industry specific but more supportive, and more structured, with more roles to fill and with involving a lot more people.

How about we put together the professional group: The Cryptocurrency Society of America

Leyss

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In order to start your business using cryptocurrency as a means of payment, you need to organize two things. It is, in fact, an ordinary business that could be profitable. However, the main thing here is to find out the legal status of cryptocurrency in your country of residence, the existence of relevant laws and regulations that would allow to accept cryptocurrency as a means of payment and report on its use to the tax authorities and the audit.

Pipdips

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My introductory comment about getting a business loan to buy up Bitcoin really resonated with you folks. You are all clearly obsessed with getting loans for buying cryptocurrencies. You all want it.

How about if my company provides a Cryptocurrency Loan Counseling Service? How much would you pay for that?

Pipdips

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Here is a consolidated list of what we have on the plate so far:

The business offers crypto-related services. The nature of services we will offer remains unknown for the time being. It will be an asset-light service-based business, based out of the USA. Our primary language for business is English. A business name will not be registered until we have had a minimum of three paying clients, or at least one repeat customer. There is one employee, myself. We will eventually have employees located anywhere in the world. Mostly we will hire Bitcoin enthusiasts like us. All laws will be followed to the very best of our ability. Ethics are very important. It will be a fully legitimate company that follows all of the laws including tax payments. The business has an impeccable reputation for playing by all the rules. This is a completely debt-free business. No loans will be taken, unless a generous outside party agrees to service the loans for free, or if they flat out gifts the business some Bitcoin or cash. I was the businesses first donator of funds: so the business is currently worth .1 Bitcoin stored in a cold storage wallet, plus $100 USD cash stored in a paper envelope. The website has not been designed yet. The website will be connected to a newsletter for keeping clients up to date. Once a website is up and running, a donation button will be added for anyone to donate BTC and or USD. The donation button is our first mentioned source of income, but the business is planned to eventually have multiple income streams. Our current objective for the business is simply: to make money!

Theb

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The way you describe your business idea it sound more like you are asking for the money fo people for you to trade it with which is like a pool fund type of investment which you need to stop it right there. The business idea in itself is good since it has been used in a lot of assets already but it's really not suited for the crypto market. It is to volatile to assure your investors that they will earn a stable amount or at least earn anything. The risk involve won't attract any reliable investors and the ones part of it are entering a risky deal. You yourself is risking yourself to have criminal charges once it fails.

Pipdips

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Quote from: ?? on ??

I think you need to process the payment via payment processor but I don't know what is the name of crypto payment processor which is good for your service but definitely there are something you can use for accepting crypto of payments not like PayPal.

I like that word, payment processor, that is going to be a HUGE industry processing digital asset payments like cyrpto! But you know what I'm thinking? This business thing is hard work and I have a different idea.

Let's form a team of Bitcoiner's who are product advisers or product testers for other crypto-related businesses that are already established in the market. We can be a group of people who try out the products or services for other companies, we charge a fee, and in exchange we give them as much useful and helpful feedback, the good and the bad, for their company to improve their businesses. We would do the reviews privately, instead of publishing our thoughts online for everyone to see in public, avoiding tarnished their companies reputation any. That way our negative opinions are not open for the public to see, and at the same time our positive opinions are not available for their competitors to see.

We will be like a dream team of highly opinionated Bitcoin enthusiasts who make money doing it. Who's with me?

SquallLeonhart

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Quote from: Naida_BR on July 20, 2019, 11:57:19 AM

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

That doesn't sound like a good idea...
You should never forget that cryptocurrency industry is very volatile and you will suffer huge losses.
Never invest what you cannot afford otherwise you will be in a huge pain. And a crypto investment like you consider it relies a lot of risks in the background that would lead you to economic breakdown.

He might have even committed suicide before he gets the chance to see the investment yield profit because he would be so frustrated when he sees the coins e had bought dumped from time to time. Imagine he had taken load when bitcoin was at peak last 2017, what would have become of the loan by now, and there is no way the lender would have become patient for this long, so his collateral, might have gone, and he might have even panic sold to pay the balance of the loan, so he will be the one to end up losing.

Taking loan for business that is highly risky is typically bot advisable as you said, if he was even taken loan to buy fixed assets like land or gold, that is understandable, highest he sell its back if it is not yielding profit to pay the loan back, but for crypto, he would just wake up and see that his $10k had turned to $1k overnight.

Pipdips

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Quote from: ?? on ??

You can start your business by using cryptocurrency as payment system because you can take much profit when bitcoin or altcoin payment using have higher price at the next time.

I may start with a free site like Wordpress. Do you or anybody here know how to build a decent Wordpress site? This needs to be a team effort.

Once the website is up and running, how do we insert an option to pay (or donate) using crypto-currencies? Does PayPal accept Bitcoin yet?

FanEagle

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Quote from: SirLancelot on July 18, 2019, 02:14:53 PM

I had always this dream of building a crypto passive income service, there are ones like it but not that many use it and I really want something like that to become huge, people really want to make money for free and they really want to not work for it, so why not create a place where you put your money in (and take out whenever you want) and your money makes money for you? Even would have a article section for SEO purposes to tell people ways of doing exactly that.

A place where masternodes are collective, you need 1000 dash? well instead of one person with 1000 dash, we can have 10 person with 100 dash instead? or even less, staking? you have hard time staking because you have low amounts? well with this system you will get it quicker because we are a collective. Basically something that already exists but not marketed very well, if you could start a crypto business about that than I would love to help out anyway I can as well.

If you have a product to sell and you want to receive bitcoin for it the options are insane. However we do not have a website like fiverr or upwork for people who are willing to sell their time. Maybe its time we start making a website like that where people who are coders, designers, writers and whatever else (even bounty would be used there) to actually find work and people who are looking for something like that to find workers.

The deal is we have people who are looking for coders and designers and writers and what not, however they can't see their portfolio right now and if we build a website like fiverr but for bitcoin (right now you can pay with bitcoin on fiverr but can't withdraw with bitcoin) then we can see the portfolios of those people as well and see how well they are in their work.

Febo

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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 dont really understand are you playing dumb or are you. Bitcoin is money. You use it as mean of exchange. So is pretty easy. If you have something to sell you sell that item for Bitcoin. If you have something to buy you buy that with Bitcoin. Totally simple.

Dread Pirate Roberts

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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

it requires high trust and serious consistency in running a business. and you also have to understand about the worst case you have to face. because basically you open investment to people. and the purpose of other people entrusting it to you to get a profit too. if I prefer to run a business that provides facilities or services with certain expertise. and open investors to help develop the business and provide more benefits for them in terms of material or promotion.

Pipdips

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Quote from: akram143 on July 18, 2019, 05:17:24 PM

I think teamwork is very important for everything because we are all going on the the right way if you think like serving the Crypto offers also then you can get lots of ways available but you need to explore them with only the team so that I think you can make the team and do the services easily

You are right. Teamwork is great. For now, my business is just me. I need to get other people on board. Want to join this project? It will be an asset-light service-based business, based out of the USA. The services we provide still remain unknown but it will come soon. The companies primary assets are just Bitcoin and cash in the bank. Quite literally we are shamelessly in it for those digits of digital money! Ethics are important too. It has to be a fully legitimate company that follows all of the rules and has a great reputation.

merchantofzeny

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Unlikely for you to get a bank loan with that "business plan". Aside from holding, what other services would you even offer if the money you borrowed is locked in crypto and you are still waiting for the prices to rise?

fullhdpixel

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Quote from: ?? on ??

For beginners, doing business with crypto currencies has very dangerous risks, trading or loans do look profitable, but for those who are professional, you have to learn crypto currencies a lot before you start a crypto currency business.

Cryptocurrency is a big risk and we ourselves must be able to understand every thing to be serious here because many people can get losses from cryptocurrency.

It is only the investment part of cryptocurrency that is risky, I mean if you have to buy cryptocurrency and then tie it down for long with the intention of getting an increase, wherein anything could make it decrease also because of the market volatility, but when it comes to using it as utility, I do not think it is risky because there is no merchant that will ever accept cryptocurrency to keep it down in the wallet.

The money a merchant receive cryptocurrency for his or her services, they have some payment gateways they have partnered with already which automatically convert the crypto into Fiat immediately, which is why many people will always advise that bitcoin and Ethereum are still the best coin to receive as payment which is what those payment gateways can easily work with. So, I don’t see anything that is much difficult about crypto usage.

Naida_BR

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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

That doesn't sound like a good idea...
You should never forget that cryptocurrency industry is very volatile and you will suffer huge losses.
Never invest what you cannot afford otherwise you will be in a huge pain. And a crypto investment like you consider it relies a lot of risks in the background that would lead you to economic breakdown.

akram143

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★777Coin.com★ Fun BTC Casino!

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 teamwork is very important for everything because we are all going on the the right way if you think like serving the Crypto offers also then you can get lots of ways available but you need to explore them with only the team so that I think you can make the team and do the services easily

SirLancelot

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Leading Crypto Sports Betting & Casino Platform

I had always this dream of building a crypto passive income service, there are ones like it but not that many use it and I really want something like that to become huge, people really want to make money for free and they really want to not work for it, so why not create a place where you put your money in (and take out whenever you want) and your money makes money for you? Even would have a article section for SEO purposes to tell people ways of doing exactly that.

A place where masternodes are collective, you need 1000 dash? well instead of one person with 1000 dash, we can have 10 person with 100 dash instead? or even less, staking? you have hard time staking because you have low amounts? well with this system you will get it quicker because we are a collective. Basically something that already exists but not marketed very well, if you could start a crypto business about that than I would love to help out anyway I can as well.

royalfestus

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Its one of the challenges we are facing in the space. Everyone just want to look relevant with the crypto project whereas their project may not need cryptocurrency/blockchain. If its doesnt need it you might struggle to get trade for your coin most especially when the alt market has not found its confidence.The shake off will send many coin packing before the year ends or next

sana54210

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I think accepting bitcoin is not the difficult part, it is not even cashing out that bitcoin that is the difficult part neither, it is the cashing out quick enough to not make a loss is the real trick here. I mean you could sell something for 100 dollars and if it is 100 dollars fiat than you will have that, however if you sell it for 100 dollars worth of bitcoin you could potentially have 80 dollars tomorrow or 120 dollars, nobody really knows.

Now, in business you have times you have to pay for stuff, it could be resources, it could be parts, it could be basically anything like rent, when that date comes and you are waiting for your bitcoins to go back to the price you sold your product for (aka 100 bucks in this example) you may have to sell it for cheaper because you have to buy stuff with that money. That is the real issue.

Pipdips

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Quote from: ?? on ??

Cryptocurrency is a big risk and we ourselves must be able to understand every thing to be serious here because many people can get losses from cryptocurrency.

Forget the risk. Forget the loans. Forget the money.

What kind of crypto-business should be opened? What services should it offer?

S E R V I C E S

Dreamchaser21

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Quote from: Pipdips on July 16, 2019, 03:00:51 PM

My business will accept payments of both Bitcoin and fiat. It is not solely running on BTC.

It would be hard for now if you fully accept bitcoin and not fiat money, and your business might not run well because very limited individual knows how to use cryptocurrency. Start a business that is base on your countries regulations, know that so you can fully operate well.

ufaiz50

hero member

Activity: 1666

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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

The point is you want to borrow money for a cryptocurrency investment in the name of the business you make, what if your investment or purchase will make a profit? I think you have to understand the burden that occurs when you have a debt. In the hodl there is no time when you sell it (most importantly the price is higher than the purchase price), while in the debt there is, I think you will only add risk to your investment.

johanesrobin

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It's very difficult to open a business related to crypto. because some rules do not provide space for crypto users. especially the Government still prohibits the use of crypto as payment.

Coyster

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I don't quite think too many people will be willing to give out funds to a business based on crypto services and that is because of some reasons of which volatility is the most prevalent of them all,
You cannot simply collect loan and hodl them, things can go either way, either high or up, putting you in danger of not being able to repay the loan.

There are a lot of criterias to be met before loans are given out, and the new business your proposing will be unable to meet them.

Lanatsa

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Quote from: MonsterV on July 17, 2019, 12:18:57 PM

Quote from: Vaskiy on July 16, 2019, 09:32:19 AM

Businesses with cryptocurrency acceptance weren't not that popular around the world, as the technology backing is something new for the business people. Another side people fear about the volatility with cryptocurrency that isn't good to be with businesses. The best way to offer crypto services is by adding cryptocurrency payments gateway to the common businesses that people own. Initially there won't be big profits, when days pass surely it'll get good return as more and more people getting into cryptocurrency usage.

I think volatility is not a problem if the business is based on full cryptocurrency. Take for example the loan business, when someone lends at a low price and returns with a few percent interest + the price of the crypto rises, then that person will have a double profit. But if the price drops, he doesn't lose much because he will again lend it with crypto again and while waiting for the price to rise again. If we think of this kind of business does not lose, even though BTC goes up and down, we only hold and invest while doing business rather than our bitcoin not moving in the wallet.

Investing do really correspond with the possibility on making money I do disagree on what you have said that bitcoin does sit on wallet doesn't give out profit.
The means of investing is increasing way more than the possibility of profits than on sitting it but well it do always tied up with risk.
For op,its impossible for you to get up some load with other people just to make your own business.

MonsterV

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Quote from: Vaskiy on July 16, 2019, 09:32:19 AM

Businesses with cryptocurrency acceptance weren't not that popular around the world, as the technology backing is something new for the business people. Another side people fear about the volatility with cryptocurrency that isn't good to be with businesses. The best way to offer crypto services is by adding cryptocurrency payments gateway to the common businesses that people own. Initially there won't be big profits, when days pass surely it'll get good return as more and more people getting into cryptocurrency usage.

I think volatility is not a problem if the business is based on full cryptocurrency. Take for example the loan business, when someone lends at a low price and returns with a few percent interest + the price of the crypto rises, then that person will have a double profit. But if the price drops, he doesn't lose much because he will again lend it with crypto again and while waiting for the price to rise again. If we think of this kind of business does not lose, even though BTC goes up and down, we only hold and invest while doing business rather than our bitcoin not moving in the wallet.

iMark

sr. member

Activity: 1162

Merit: 251

Quote from: LeGaulois on July 06, 2019, 06:27:54 PM

So all you want to do is to create a 'business investment', where you collect money from people(?) and make a profit from it(?) ok so how do you plan to generate revenue to provide payment interests to the client? Especially if you only hold the bitcoins. Because the money doesn't grow on tree but Bitcoin too
And all this starting with a loan you took to start? Good luck to find a "Giant loan" to buy bitcoins but better you do nothing honestly

Yeah especially not always the price of bitcoin has increased right, you don't always promise profits to each of your customers. in my opinion making a that kind of business is not suitable, crypto investment is full of risk, and you cannot guarantee profits to your customers because prices will not always be positive

salty

full member

Activity: 562

Merit: 100

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

Taking a loan for the purchase of bitcoin is not quite the right idea.All cryptocurrencies have one big disadvantage-volatility.Never in my life will I take a loan for the purchase of cryptocurrency.

Pipdips

member

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My business will accept payments of both Bitcoin and fiat. It is not solely running on BTC.

RealMalatesta

legendary

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What we forget is that its not easy to actually have a lot of money coming your way in bitcoin that you can easily cash out if the country you reside and banks that you use have a rule against bitcoin for example.

If you can show invoices for the things you sell than you can obviously start a shop sell some stuff and get paid in bitcoin and print an invoice for it and show it on tax returns and get it on your bank account, however if you are not selling something and more like a middleman for stuff like an exchange that people exchange currencies and you make money based on the trading fee than you can't invoice a trading fee and that would create issues in some countries. It all depends on where you live and what are the rules for crypto currency there but that plays a bigger role than anything else here.

Pipdips

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Cryptocurrency Business Loan Consulting Service

Vaskiy

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DGbet.fun - Crypto Sportsbook

Businesses with cryptocurrency acceptance weren't not that popular around the world, as the technology backing is something new for the business people. Another side people fear about the volatility with cryptocurrency that isn't good to be with businesses. The best way to offer crypto services is by adding cryptocurrency payments gateway to the common businesses that people own. Initially there won't be big profits, when days pass surely it'll get good return as more and more people getting into cryptocurrency usage.

SquallLeonhart

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Activity: 2464

Merit: 1102

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

That would be quite a risky business you want to take, I know a lot of people will advise you go for loan to buy bitcoin because of their own personal interest, since they know that whatever you put into the market of bitcoin will definitely add its own quota. For now that the market is highly volatile, I don’t think you should take that risk of borrowing money to fund this loan because the point you make that investment in crypto may not be a favorable one, and remember that anything loan has a time frame, and once it elapses, whatever you give as collateral will go for it, which you may even be forced to sell the remaining part of your investment in cryptocurrency to meet up, but life is full of risk though, and you may never know where your luck will shine.

FanEagle

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I think getting a loan is easier these days depending on your credit, banks are giving loans left and right because they have too much money and they don't know what to do with it and they know for a fact that law is on their side so at the worst case they will just call the cops and seize whatever you have to pay for the debt.

However, they are charging you a lot of fee for it because interests are going up and the inflation is going up which means the loan interest go up as well and that is why you would have to pay a lot back. That is why getting a loan is easier but keep paying it is the hard part, how do you plan on operating a whole business when some of your revenue goes directly to paying back the loan and not going bigger, that is money that could be spent on the business that is gone and it could even be the decision between keep running it or closing the shop.

jonsky05

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🔰FERRUM NETWORK🔰

If you open a business in crypto theres a lot you need to consider because its not easy to build a business that you think wisely especially in crypto that a lot of frauders,scammer and so on. Its good to make a business but you need to be wise.

shield132

hero member

Activity: 2352

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Metawin.com - Truly the best casino ever

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

At first you can't just get business loan by registering a business name. HODL business doesn't exist too. To buy and hold bitcoins, you can get loan from bank, if you want huge amount of money, you can put your house in loan but be very careful, some people did that when price was 20K and lost houses. You aren't alone interested in crypto, why to invest in you while we can buy bitcoin and watch when it will rise? The only way to choose you is to give us guaranteed profit and then it's not my job where you invested money, in crypto or etc.
So you can't get "giant" loan, sorry but your "business" idea can't be released unless you own something very worthy.

Pipdips

member

Activity: 210

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Quote from: shulc7 on July 10, 2019, 02:26:26 PM

Quote from: Schirer on July 09, 2019, 08:53:02 AM

Funny.
This is not a business idea.

if you have something you can show your bank and " promise" it in return in the situation when you cant give the money back, then you can get the loan. Otherwise no bank or even a person will give you money, just forget about it.

These ideas let me think that either a very young guy is writing or a very naive person, who does not know anything about business and crypto does it. The best idea for him is to forget this idea. Learning trading it is better to become a trader.

Well my business is valued at .1 bitcoin and $100USD, and my business is debt-free. My business is in the green and growing. My business had to start somewhere. This isn't rocket science. Where in your crypto rule book does it say you need to be a genius to make money?

On the contrary, there are plenty of other people who get business loans for Millions of dollars, they have business credentials, they have employees relying upon them, they have mentors and people helping them, and they lose it all, and fail miserably.

shulc7

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Activity: 518

Merit: 100

Quote from: Schirer on July 09, 2019, 08:53:02 AM

Funny.
This is not a business idea.

if you have something you can show your bank and " promise" it in return in the situation when you cant give the money back, then you can get the loan. Otherwise no bank or even a person will give you money, just forget about it.

These ideas let me think that either a very young guy is writing or a very naive person, who does not know anything about business and crypto does it. The best idea for him is to forget this idea. Learning trading it is better to become a trader.

Pipdips

member

Activity: 210

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The business I have is a crypto service related business. Still unknown for the most part.

I decided this is a completely debt-free business. No loans will be taken, unless somebody else offers to service the loans for free.
Once my website is up and running, I will add a donation button. That donation button is going to be my first income stream.
My business will have multiple income streams. Any donations offered is only one of these sources of money flowing in.
Today I created two new cold storage wallets for my business: BTC and ETH. Send me a PM for address details.
Today I also added $100 USD of pure cash to my business account. It's in an envelope on my desk.
I have been writing down all my income and expenses so far and I will give it to a professional accountant when the time comes.

angel55

full member

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There are a lot of people with more money than they know what to do with. I would target entertainers and professional athletes and offer to help them with wealth management services, there is a lot of money to be made in this field.

stomachgrowls

hero member

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Quote from: Pipdips on July 10, 2019, 09:14:27 AM

I have decided to by-pass getting a business loan for now. But the price of Bitcoin went up since yesterday so now my .1 Bitcoin is worth $1307.89. My business is basically flourishing because I did nothing and increased the value of my account.

Now I need to open a website for about $30 USD. I will do that. That website will be a good investment for reaching new clients in my crypto service business. Also I will connect my website to a newsletter for keeping clients up to date with my business.

For your bitcoin holdings increase then get used to it yet bitcoin can give out such opportunity the thing
where im confused is that,what business you are totally talking into?

Pipdips

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Activity: 210

Merit: 13

I have decided to by-pass getting a business loan for now. But the price of Bitcoin went up since yesterday so now my .1 Bitcoin is worth $1307.89. My business is basically flourishing because I did nothing and increased the value of my account.

Now I need to open a website for about $30 USD. I will do that. That website will be a good investment for reaching new clients in my crypto service business. Also I will connect my website to a newsletter for keeping clients up to date with my business.

stompix

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Blackjack.fun

Quote from: ?? on ??

0.1Bitcoin will be worth certain amount in USA right and you already mentioned that you will follow all the rules of USA then you need to register your business and get the approval and start the business as you want.

Yeah, indeed it is worth a certain amount. /s
But probably actually thinking how much that amount is and what it means in the US was beyond your one line crap capabilities.

Quote from: Pipdips on July 09, 2019, 10:51:34 AM

My crypto business is currently worth .1 Bitcoin.
My crypto business will be based in the USA.

Do you realize you have 1200$ as capital, with overtime you can make more in a month flipping burger?
This is not about ways of starting a business but on how low a troll can get nowadays.
https://lmgtfy.com/?q=cost+of+setting+business+in+usa

omone1

member

Activity: 845

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Just ensure you are planning the right thing because of the volatility of bitcoin. what happens if the price of bitcoin dumps and your loan is in the negative? although am always positive on the bitcoin price but it's always better to use one's money to invest in bitcoin except one has insurance covering the investment.

Pipdips

member

Activity: 210

Merit: 13

I am not going to register a business name until I have at least a few clients.

How about I start with buying a website name?

Pipdips

member

Activity: 210

Merit: 13

Let's forget about the loan for now. Forget about the money for now.
Let's just say I already have .1 Bitcoin to start with.

My crypto business is currently worth .1 Bitcoin.
My crypto business will be based in the USA.
It will start with one employee, myself.
All laws will be followed to the very best of my ability.

I need my first client. What will I do next?

Schirer

member

Activity: 560

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Funny.
This is not a business idea.

if you have something you can show your bank and " promise" it in return in the situation when you cant give the money back, then you can get the loan. Otherwise no bank or even a person will give you money, just forget about it.

alroys

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Activity: 448

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To get a loan in a large amount, you must have a guarantee that the party who will give you a loan can trust. But you don't have to say that the money you borrow will be invested in Cryptocurrency. Because if they don't understand Cryptocurrency, you won't get a loan.

maman567

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Activity: 648

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You can start your business with cryptocurrency by looking which one best and potential altcoin for investing, always check how solid team have by an ICOs or IEO project platform.

maxreish

sr. member

Activity: 1330

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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?

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.

Yes, it will just turned out to be networking scheme. Investing or loans and that money you'll gonna collect from the investors will be used for crypto investing. Sounds not good. To tell you the truth, there are some businesses in our area who looks exactly like your proposal business. It did not turned out so well, the moment the market went down and continuously go down. It is hard to recover and how can you pay them?

An investor do not want to invest into business like yours without assurance such as contracts. Drop the idea, the crypto market is volatile and it's hard to compensate for the losses if ever.

stompix

legendary

Activity: 2912

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Blackjack.fun

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

No.
And over complicated for more reasons than words in your post.

First, you can't get a loan just because you have a business, nobody will give you anything if they don't have a reason to believe you will pay back. So a business a new business with zero customers, zero assets, no employees, no history will be kicked out even before they hear your marvelous plan is to buy bitcoins and hold!!!

Second, that's not a business, you are just playing to get money to buy coins and hope to get some morons to give you more coins instead of keeping them in their wallet.

But, unlike others, I will give you advice on how to make this work.
Start an ICO! I've seen worse ones getting funded. Grin

Quote from: Pipdips on July 08, 2019, 03:26:36 PM

Let's pretend that I have a great idea to sell as a service. It is a crypto-related service.
What if I found an angel investor who believes in my project? and I hit the jackpot. They just gave me $1MM. What is next?

Try to avoid landing in prison, that would be the plan!

bitcoinposts

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in order to start a business which offers crypto services u need to have pos machine or crypto merchant application link in ur offline or online store

cosmofly

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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

So you don't need to open a business with a hold goal. You can hold it on cold wallet. When you open a business, you can't solve your lack of capital.
You should only borrow money from someone close to you, because you still don't have enough experience to play big in the crypto market.
Be careful and restrain greed before it leads you to debt.

creeps

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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 doubt you can get a loan if your business is full of crypto services I mean you must go on the legal process and a lot of documents before your loan will be granted or soon to be declined. You can also do a personal loan and again there's a lot of requirements for that. I do suggest to look for a rich friend who can offer you a big loan with small interest or zero at all, luckily I have my friend who have a business like this where I can get money if I badly needed it just make sure you remain your name clean and free from any unpaid loans.

jseverson

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Quote from: Pipdips on July 08, 2019, 03:26:36 PM

Let's pretend that I have a great idea to sell as a service. It is a crypto-related service.

What if I found an angel investor who believes in my project? and I hit the jackpot. They just gave me $1MM. What is next?

Ideally, you set up shop in a jurisdiction that would be friendly toward crypto businesses. There should be a list with pros and cons out there somewhere. They should assist you on how to get started, as the process is different for every country. You should be able to proceed with offering your service after that. The process shouldn't be too different from setting up a typical business.

If you're looking for specifics, there are lots of businesses here to learn from. They create announcement threads, set up a website and maybe a white paper, possibly advertise, etc. Just be careful in picking one to emulate, since not all of them are set up to make an honest living.

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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

It is a bad idea to start a business with a large loan. Loans incur large interests while your business is just beginning. Normally, businesses suffer losses on the first six months before it can become profitable. That is six months without income while your loan gets larger. The worse is, you intend to put the loan in a crypto or coin. Bitcoin and altcoins are volatile. Without assurance that it will grow in a few months, you are potentially building a big debt on your name. This can put you in bankruptcy. You have to put this in mind and balance your risk before you commit in this venture.

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Quote from: Pipdips on July 08, 2019, 03:26:36 PM

What if I found an angel investor who believes in my project? and I hit the jackpot. They just gave me $1MM. What is next?

Create a contract, get permit, all necessary details, shares, etc. just like the usual contract that companies give to their shareholders. Is that still same idea that you have indicated on your first post?

If that angel investor isn't aware of crypto, you should explain to him the risk. I think that will be like 'his money and your decision of coins to buy'. And if I'm that kind investor who will be enlightened with your idea, it's best for me to use my money alone rather than let someone use and invest it.

Pipdips

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Let's pretend that I have a great idea to sell as a service. It is a crypto-related service.

What if I found an angel investor who believes in my project? and I hit the jackpot. They just gave me $1MM. What is next?

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Quote from: radambom123 on July 07, 2019, 04:51:52 AM

Electronic money is not fully accepted and you cannot

Not on my place, i think it will depend on the regulations on your place. There’s a lot of businesses here who accepts bitcoin and it works well. If you want to transact with the banks and have loans then you must have already a established business whether you accept cryptos or not it must be registered business.

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Electronic money is not fully accepted and you cannot

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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

No bank is giving you a business loan so you can make high-risk investments. Wink

What you're talking about is essentially a hedge fund. You can dodge most SEC requirements by soliciting investments only from accredited investors. But if you've got no track record investing (like on Wall Street) and you have no capital of your own to invest, you'll have a hard time convincing anyone else to put in money.

fiulpro

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Well not exactly , collecting money requires a pretty long process , you should understand that you need prior long time to make a good return investment .
People will only invest if they find something is profitable for them , thus you need to make sure it is profitable for both of the parties, and to do this you actually need to invest a lot of time and money yourself.
You also need to register this business , without registration it is not something that would actually be trustable.
It's not as simple as that , a good business requires a lot of time and investment and ofc brains.

abeecrypto

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Hmm! I don’t know who would want to give such loan. Ok, imagine you were able to collect the loan, when do you intend to pay back? How big is the risk involved in collecting such loan? Have you made your analysis to determine whether those coins you want to invest in will soar high or not? These are some of the question you will have to ask yourself first before venturing into such business. Your idea looks promising based on your expectation but it is a huge risk. Are you ready to take that risk?

Ryker1

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Well, dude! that's what too much risk if you gonna do that. If someone has to lend you without collateral with a big amount of money then, that is good for you. Even government bank did not allow people to lend a big amount unless if you have collateral of real property state that has a big value that you wanted to lend. Indeed, business related to crypto is unpredictable and very risky business. You don't know what will happen next to the market but if you are high-risk taker it might also give you success.

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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

No bank or business will give you a loan,if you say to them that you are going to buy cryptocurrencies.
This is considered extremely risky and most most banks aren't crypto friendly at all.
You will have to provide some big collateral with a stable price,like real estate.If you want a giant loan,you will need giant real estate properties.

Shenzou

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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

Crypto bussness are really hard to run and to make as this market is quite unpredictable and you are putting your whole business on it, it will be tied to how the market flows, ok so lets say you get the loan and you buy a bunch of coins and people get in with you, and than the market fails and things don't go as planned, people would still expect you to pay them where you would get the money from, there are a lot of things involved into it that needs a lot of studying between what coins to invest and a bunch of analysis, and to get a loan for these kind of business is hard.

Oilacris

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

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.

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So all you want to do is to create a 'business investment', where you collect money from people(?) and make a profit from it(?) ok so how do you plan to generate revenue to provide payment interests to the client? Especially if you only hold the bitcoins. Because the money doesn't grow on tree but Bitcoin too
And all this starting with a loan you took to start? Good luck to find a "Giant loan" to buy bitcoins but better you do nothing honestly

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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

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