Prospective retailer | Bitcointalksearch.org

Lucius

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Quote from: Zilon on November 25, 2021, 05:00:24 PM

I was just wondering don't you think becoming a retail vendor through a well developed exchange can earn you passive income or you haven't thought in that direction. Or could there be an untold/hidden mysteries behind setting up an exchange because we still need more exchanges so we can give crypto more boost beyond government regulations

I don’t see how cryptocurrency trading could be considered legal while at the same time avoiding regulation by governments? If you were to imagine a scenario in which there is no CEX, only DEX - how many people do you think would trade Bitcoin today, and how many people would know it even exists?

Lest anyone misunderstand, I understand that decentralization is very important, and that it is bad that CEX holds such large amounts of BTC in its possession - but since most people have never accepted (or realized) how important it is to be their own bank, consciously we agreed to go in a direction we might not have needed to go.

As for the number of crypto exchanges, I think there are more than there should be, and it should be regulated who can start such a business. Too many people have seen an opportunity to get rich that way, and in many cases this results in hacking and losing clients ’funds, or with an exit scam.

Ucy

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First of all, it's actually not a good idea to have centralized exchanges. They should be striving to be decentralized otherwise they and possibly the users will learn the hard way in the future. The centralized model is not sustainable, or better still it can lead to centralization of a cryptocurrency if you allow them to grow out of control. We should have more independent businesses on a true cryptocurrency network. Besides, the features of centralization contradict what true cryptocurrency stands for and could be used against the cryptocurrency.

Better to have retail vendors transact in p2p/decentralized manner. It's a unique system that should be encouraged/built otherwise you can't be free from the old system. In my opinion, the purpose of licenses is to keep businesses moral. Once you keep things in order you should qualify for a license that probably could be issued in decentralized manner. If they require kyc in order to issue license, use decentralized identity scheme instead... same as other things that are required from businesses in order to qualify for licenses

michellee

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I do not want to become a retail vendor right now and still like to search for my profit through trading as I see the potential to make a big profit from trading is bigger. If I want to become a retail vendor, I need to have a big budget to start and I am lacking that budget right now so that is why I decided to still trade and make more money. Besides that, in the retail business, not many of them know about crypto and need more socialization about crypto so they can understand what purposes to use crypto for their business. Maybe someday after crypto become globally and many retail vendors start to implement crypto to their business, we will see the use of crypto among them.

Darker45

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What do you exactly mean by a retail vendor? That you will buy, say, Bitcoin in bulk and then sell them in smaller amounts for a certain amount of premium? Anyway, this is clearly not a passive income. This is unlike earning annual yield from staking or receiving dividends from investments.

By the way, when you say we still need more exchanges, it should be qualified. Apparently, we already have so many exchanges, only that they are centralized. What we need are truly decentralized exchanges. And also, it's not the exchanges that give crypto more boost. Without any practical function and utility, cryptocurrencies will remain to be merely speculative coins.

karanggatak

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Quote from: Zilon on November 25, 2021, 05:00:24 PM

Crypto has opened up lots of self employment option to our present society ranging from investment to trading even down to staking and all this are made possible by both centralized and decentralized exchanges providing services through licensed procedure to ensure a secured transaction either through peer-to-peer or a completely centralized procedure

I was just wondering don't you think becoming a retail vendor through a well developed exchange can earn you passive income or you haven't thought in that direction. Or could there be an untold/hidden mysteries behind setting up an exchange because we still need more exchanges so we can give crypto more boost beyond government regulations

making new business give you profit as long as you can manage it well. not only fund, but also good work needed to improve that business.
need time to reach maximum trust level, you cant take big hit from the start, need many event to attract more people joining this idea.
you can create many thing from crypto, the problem is where you point at? just for crypto user or all people. its hard to point society, but it can be good project if you keep calm about the process.

Fortify

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Quote from: Zilon on November 25, 2021, 05:00:24 PM

Crypto has opened up lots of self employment option to our present society ranging from investment to trading even down to staking and all this are made possible by both centralized and decentralized exchanges providing services through licensed procedure to ensure a secured transaction either through peer-to-peer or a completely centralized procedure

I was just wondering don't you think becoming a retail vendor through a well developed exchange can earn you passive income or you haven't thought in that direction. Or could there be an untold/hidden mysteries behind setting up an exchange because we still need more exchanges so we can give crypto more boost beyond government regulations

It's funny you mention investment, trading and staking as the wonderous things that Bitcoin has supposedly opened up. They are in fact a very narrow range of activities all related to financial speculation. They were also all possible before crypto came along. However the rise of platforms like Binance where anyone, even people in countries with more restrictive regulations, can trade currencies back and forth is a bonus I guess. Those activities are not actually creating anything substantial for society however, unlike say a manufacturer or house builder. To answer your question about retail vendors, of course allowing cryptocurrency as a payment could open up the possibility of new customers - they're all asking themselves whether it is worth the price of the financial infrastructure and possible legalities that come with it.

darewaller

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Sure that is very possible, it is nothing new at all, because I already know a lot of people that are doing this kind of business. They act as local exchangers and they buy bitcoin from people and also sell bitcoin to them when they want to sell.

I totally understand how the business works: if they are buying from you, they can say that they are $1 at $0.85, and that way when they are selling, if they decide to sell $1 for $1, they will be having a profit of $0.15, which is really cool, because when they have lots of customers and start buying and selling huge amounts in a day, the little profits will turn out to be huge amounts. Imagine they sell $1000 with of bitcoin, they will making up to $150, and $10,000 worth will be getting them a profit of up to $1500, and so on. So, it’s a really good business for anyone to do.

Zanab247

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Many crypto traders are still making a huge amount of money from crypto trading in the market. Many traders are now running retail business base on the income retailers are now achieving from their investment. This year is a good year to all retailers in the community since we came out from pandemic.
Last year December was so difficult for retailers to make a good profit from their investment because they were thinking the price will not increase higher at the time they supply all their coins to the market before the price now hit higher in the market cause them to miss a lot of income. Many retailers loss so much during the pandemic that took over one year and some months in the country.

fiulpro

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Quote from: Zilon on November 25, 2021, 05:00:24 PM

Crypto has opened up lots of self employment option to our present society ranging from investment to trading even down to staking and all this are made possible by both centralized and decentralized exchanges providing services through licensed procedure to ensure a secured transaction either through peer-to-peer or a completely centralized procedure

I was just wondering don't you think becoming a retail vendor through a well developed exchange can earn you passive income or you haven't thought in that direction. Or could there be an untold/hidden mysteries behind setting up an exchange because we still need more exchanges so we can give crypto more boost beyond government regulations

Setting up an exchange seems like an interesting idea for sure. I helped few of my friends when bitcoins and cryptocurrencies were banned in my country to sell/buy, since I was living in some other country where the government did allow these transactions to be made. But as a whole I did not earn any profit. Just saved some dollars on the transaction fee. Therefore if you do want to do something like this then you have to realize that it would only work if it is working on a bigger platform, if you have already a set amount of customers since local businesses might be lucrative but they are hard to materialize as well in that future. Therefore you might have to think ahead before you can even open one.

Passive income would only be possible if you do hold some shares in already existing business because if it's local and you are doing it then you would have to work a lot for that, to keep it on the track.

sana54210

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Quote from: kryptqnick on November 27, 2021, 07:03:16 AM

Passive income is the one you get without having to do much. Trading's definitely not passive income. Doing marketing isn't passive income, either. I suppose if you're hodling Bitcoin or a different crypto and sell a bit regularly based on the profit you've made due to the value increasing, this counts as passive income, but you barely need an exchange for this. I agree that cryptos opened new opportunities, and I know people who do crypto trading for a living, but it's still a job that requires knowledge, effort and taking risks.

Doing marketing "could" be passive income. If you want to have ZERO work when you are talking about passive income then yes it is not, however inbound/outbound difference is very important here. Let's assume you worked hard, like I mean seriously hard and managed to write 1000 articles about crypto, or better yet 10k or 100k articles because the more the merrier but take whatever number as long as it is not like 10 articles. Then you put them on auto publishing on your blog, and you just leave. Then you put in some money into your google ads, arrange some keywords, and market your each new published thing there once a day.

This should take about 100 hours of your life, or 1000 hours who knows how many you wrote at the very first, but only 10 minutes a day after that. So if you are fine with working hard beforehand, then you should be fine afterwards and it could be considered passive to do marketing.

Silberman

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Quote from: goldkingcoiner on November 25, 2021, 11:23:29 PM

Quote from: mk4 on November 25, 2021, 10:39:53 PM

Quote from: Zilon on November 25, 2021, 05:00:24 PM

I was just wondering don't you think becoming a retail vendor through a well developed exchange can earn you passive income or you haven't thought in that direction. Or could there be an untold/hidden mysteries behind setting up an exchange because we still need more exchanges so we can give crypto more boost beyond government regulations

I mean, literally any kind of business is an income-generating opportunity lol not only crypto platforms. But if you think it's "passive income", then nah. A lot of people are underestimating the amount of work needed to make a crypto related business to actually work. Like, securing your users' funds itself is going to be tough enough and will definitely keep you up at night, but then you also need to do typical business stuff like marketing and stuff.

Yeah, I am going to second that. Getting into crypto related business is hard because first, its still quite a new thing and second, you need years of experience to understand the depth of how everything related to crypto works. So only after you have obtained the knowledge that most people don't have, you can start gathering experience on how to add to that knowledge to create something that the crypto space needs. If you don't show that you bring something to the table, your just a crypto fan, not an expert.

And not only that, but by the time you acquire all of those skills many other business will appear which means that now you need to face an even more difficult path to become successful, this is similar to what happened to the first cryptocurrency casinos that found a lot of issues they needed to solve but that at the same time found themselves with almost no competition so it was easier to grow, now this is way more difficult as the industry is huge and in order to make a name for yourself the casino needs to offer a near flawless experience otherwise clients will move back to the casinos they have used for a long time.

doomloop

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Quote from: Zilon on November 25, 2021, 05:00:24 PM

Crypto has opened up lots of self employment option to our present society ranging from investment to trading even down to staking and all this are made possible by both centralized and decentralized exchanges providing services through licensed procedure to ensure a secured transaction either through peer-to-peer or a completely centralized procedure

I was just wondering don't you think becoming a retail vendor through a well developed exchange can earn you passive income or you haven't thought in that direction. Or could there be an untold/hidden mysteries behind setting up an exchange because we still need more exchanges so we can give crypto more boost beyond government regulations

Anyone can work as a crypto retailer, and you don’t even need an exchange for you to be able to run a business like that. I’ve seen a lot of people in my country where I live who are working as crypto retailers, and they own their own websites slash exchange where they do their cryptocurrency business. Their business is like a peer to peer form, so the government can’t really interfere in their business, because the government wouldn’t be able to know what is going on.

Although there have been some of them that are registered under the government, and this ones can be affected at anytime if the government decides to ban them. Only those that have stayed as peer to peer are the ones that won't be affected by any rules that are set up by the government to ban cryptocurrency. So, being a crypto retailer is nothing new at all, there are lots of people who have been doing it right from time.

palle11

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Quote from: Reid on November 27, 2021, 06:00:23 AM

That never grazed my mind until now.
Why? Maybe because I am not business minded but more on the consumer and investor side only.
It might work for those who have big capitals but it needs employees and I don't think I am good on that.
Risk is also a factor because you will never know if it will click to the mass or not. What if it doesn't? Leaping to that kind of business needs a lot of work and it cannot be just an option for a hobby-like things.
Paying up strategist, marketing side and then the financial side. That will be expensive. Cheesy

Lol being scary about investment especially online type of investment will not help. Online investment is a new kind of type that has opened up as opportunity for all and this an advantage just as op has said.

Trading is an advantage for online ethusiast , yes risky but you need to manage the risk because every aspect of life is risk and is it not a better risk trying to increaee your finance Grin

kryptqnick

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Passive income is the one you get without having to do much. Trading's definitely not passive income. Doing marketing isn't passive income, either. I suppose if you're hodling Bitcoin or a different crypto and sell a bit regularly based on the profit you've made due to the value increasing, this counts as passive income, but you barely need an exchange for this. I agree that cryptos opened new opportunities, and I know people who do crypto trading for a living, but it's still a job that requires knowledge, effort and taking risks.

Reid

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That never grazed my mind until now.
Why? Maybe because I am not business minded but more on the consumer and investor side only.
It might work for those who have big capitals but it needs employees and I don't think I am good on that.
Risk is also a factor because you will never know if it will click to the mass or not. What if it doesn't? Leaping to that kind of business needs a lot of work and it cannot be just an option for a hobby-like things.
Paying up strategist, marketing side and then the financial side. That will be expensive. Cheesy

el kaka22

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Considered an exchange before with my friends, but owning a swap is SO MUCH easier. You basically take the pancake router, which means you are using their liquidity at all times and you are earning a slight share from every single swap made in that pair. It is not really awesome unless your token is awesome, you are not going to attract too many customers this way. However, if you could somehow build a project that could redirect people to pancakerouter via your own swap, then you are going to end up with a lot of income, and I mean A LOT.

People are making thousands of dollars per day easily with this method. Starting an exchange with high security is a difficult thing, but starting a swap is easy when you compare the development time, it is the marketing that takes time in both of them and you could easily fail if you are not careful.

paxmao

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Quote from: aoluain on November 26, 2021, 02:07:04 AM

I suspect the OP thinks they can set up an exchange and walk away to let it
function itself, all they have to do is collect the fees generated from it.
...

Oh, that was it. Well, that is not that different from any other start-up and normally does not fall into the passive earning category but rather quite the contrary, something you would need to put a lot of money and effort into and would only become profitable (if ever) in a long time.

I think people are getting crazy about the whole financial freedom and passive earnings thing. The people that have been into that for decades are called "dividend investors" and they tend to buy dividend yielding companies at low or reasonable prices and build their passive over time, rather than trying to get into dire situations investing in untested chains or wild projects.

Wexnident

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Quote from: Zilon on November 25, 2021, 05:00:24 PM

I was just wondering don't you think becoming a retail vendor through a well developed exchange can earn you passive income or you haven't thought in that direction. Or could there be an untold/hidden mysteries behind setting up an exchange because we still need more exchanges so we can give crypto more boost beyond government regulations

It won't. There's a LOT of processes you'd probably have to go through plus you might be hit by your government about it anytime. Not to mention that to even have traffic, you'd have to compete with big exchanges that are already out there like Binance, and to actually go over them, you'd have to spend your fair share of the money, and that is in no way cheap imo. It won't even be passive profit, at that point you'd probably just lose money tbh. It's comparable to an entire business tbh, and a pretty big one at that imo. It's no mystery really, it's just how businesses work.

Doell

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Quote from: mu_enrico on November 26, 2021, 02:32:25 AM

Retail like Binance P2P? Well, you need to have decent capital, which is not feasible for small "retailer." Setup a new exchange is even capital heavy investment so I believe the prospect/opportunity isn't in that direction. The more reasonable business opportunity is about selling goods and services using crypto, for instance, art/design, collectibles, data plan, writings, etc. It doesn't need big capital, but skills.

Also, passive income is just about your capital works for you, therefore you need big capital thus not retail per se.

I agree the OP must have big capital ,it's better to sell art or something else! there are several other ways that the OP should know which is passive income ,starting to become an affiliate marketer or looking for referrals on social media providing space for advertising also includes passive income or renting out property/loans !

so98nn

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I think that is more or less broker kinda thing and peeps are already doing that since long time now. If I’m not mistaken you let theory then this is definitely the old business which is also followed in the real world with share market. Moreover some countries also consider the exchangers as their retailer itself. So that could be little misleading in their territory.

If you create another door to the existing exchanger then that will just cost the user more than what they are paying for direct purchases and sells over the exchanger itself. With the exchangers becoming available globally and establishing their offices all over the world it does not seem that they need retailers anymore. But surely there are many opportunities in the crypto world for different ways and sources of earnings.

hugeblack

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What is the retail trade using pads? Are you meant P2P exchange? And then achieve profits from it? Such as this long-term trading after building trust and patience of that trust requires you to start small amounts, the speed of response to all problems, good communication and construction are basic skills.

Generally, work in crypto exchange as retailer is profitable because it is a new market and more valued at a short time but does not mean that profits are guaranteed.

mu_enrico

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Retail like Binance P2P? Well, you need to have decent capital, which is not feasible for small "retailer." Setup a new exchange is even capital heavy investment so I believe the prospect/opportunity isn't in that direction. The more reasonable business opportunity is about selling goods and services using crypto, for instance, art/design, collectibles, data plan, writings, etc. It doesn't need big capital, but skills.

Also, passive income is just about your capital works for you, therefore you need big capital thus not retail per se.

aoluain

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I suspect the OP thinks they can set up an exchange and walk away to let it
function itself, all they have to do is collect the fees generated from it.

They are correct in thinking it would be profitable though but with a lot of hard work.

Who is going to create the platform?
As @mk4 points out the marketing alone will be massive in order to compete in a
very competitive space.
Who will maintain the platform as regards security and queries from customers
in relation to issues they might have.

So no definitely not passive income but if you set it up and then leased it to someone
else to run, that would generate a passive income for you while you are not actively involved.

retreat

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Quote from: goldkingcoiner on November 25, 2021, 11:23:29 PM

Yeah, I am going to second that. Getting into crypto related business is hard because first, its still quite a new thing and second, you need years of experience to understand the depth of how everything related to crypto works. So only after you have obtained the knowledge that most people don't have, you can start gathering experience on how to add to that knowledge to create something that the crypto space needs. If you don't show that you bring something to the table, your just a crypto fan, not an expert.

I also realize that building a business related to crypto is not easy, it takes seriousness and extraordinary ability to be able to build a business, becoming a crypto expert is not easy.

goldkingcoiner

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Quote from: mk4 on November 25, 2021, 10:39:53 PM

Quote from: Zilon on November 25, 2021, 05:00:24 PM

I was just wondering don't you think becoming a retail vendor through a well developed exchange can earn you passive income or you haven't thought in that direction. Or could there be an untold/hidden mysteries behind setting up an exchange because we still need more exchanges so we can give crypto more boost beyond government regulations

I mean, literally any kind of business is an income-generating opportunity lol not only crypto platforms. But if you think it's "passive income", then nah. A lot of people are underestimating the amount of work needed to make a crypto related business to actually work. Like, securing your users' funds itself is going to be tough enough and will definitely keep you up at night, but then you also need to do typical business stuff like marketing and stuff.

Yeah, I am going to second that. Getting into crypto related business is hard because first, its still quite a new thing and second, you need years of experience to understand the depth of how everything related to crypto works. So only after you have obtained the knowledge that most people don't have, you can start gathering experience on how to add to that knowledge to create something that the crypto space needs. If you don't show that you bring something to the table, your just a crypto fan, not an expert.

mk4

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Quote from: Zilon on November 25, 2021, 05:00:24 PM

I was just wondering don't you think becoming a retail vendor through a well developed exchange can earn you passive income or you haven't thought in that direction. Or could there be an untold/hidden mysteries behind setting up an exchange because we still need more exchanges so we can give crypto more boost beyond government regulations

I mean, literally any kind of business is an income-generating opportunity lol not only crypto platforms. But if you think it's "passive income", then nah. A lot of people are underestimating the amount of work needed to make a crypto related business to actually work. Like, securing your users' funds itself is going to be tough enough and will definitely keep you up at night, but then you also need to do typical business stuff like marketing and stuff.

Zilon

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Crypto has opened up lots of self employment option to our present society ranging from investment to trading even down to staking and all this are made possible by both centralized and decentralized exchanges providing services through licensed procedure to ensure a secured transaction either through peer-to-peer or a completely centralized procedure

I was just wondering don't you think becoming a retail vendor through a well developed exchange can earn you passive income or you haven't thought in that direction. Or could there be an untold/hidden mysteries behind setting up an exchange because we still need more exchanges so we can give crypto more boost beyond government regulations

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