Top 5 Most Innovative Cryptocurrency Business Ideas 2020
" Success usually comes to those who are too busy to be looking for it."-- Henry David Thoreau.
Great Welcome for the one who is ready to enjoy the taste of Success. I think your thirstiness for success made you reach this article. Isn't it?
As we are at the edge of the 2019 and we all have constant prayers for the upcoming year to be the noteworthy and most addressable year.Right? Let us make the year 2020 to be the most remarkable year in our business journey.
I am here to share with you the most interesting and innovative cryptocurrency business ideas that will play trending roles in the year 2020.
If you are a Zealous Individual of starting a business or an unstoppable entrepreneur who always looks for new innovative ideas to be implemented in business to reap success, this article will surely guide you.
Hoping 2020 to be a great year in your business, let us start our discussion !!
Let us here look at the most-trending cryptocurrency business ideas for the year 2020.
Before listing the trends, I would like to explain to you why we prefer cryptocurrency for the year 2020.
Cryptocurrency is the most searched term on the internet in these digital days and Bitcoins is the most adopted cryptocurrency in the globe. Every day a new cryptocurrency has been introduced to the market which clearly shows the people's interest and eagerness towards cryptocurrencies. Most of the countries have regulated the use of cryptocurrencies and even hotels, educational institutes, banks in many countries has accepted the cryptocurrency payments.
The below image shows how cryptocurrency is so familiar even with students of United States in the year 2018.
Source : Statista
These facts shows that cryptocurrency will play the biggest role in 2020 and further. Cryptocurrency will never fade out from the digital economy even if the sun and earth in the universe change their position.
Listed here are the cryptocurrency business ideas for 2020.
1. Cryptocurrency Exchange Business
Cryptocurrency exchanges are the prime platform for all the cryptocurrency investors and traders to eventually fall in. Because cryptocurrency exchange platforms are the most preferable way to buy/sell bitcoins. So without requiring more efforts and investment on marketing campaigns your exchange business could reach a strong user base in a short period. But you have to choose which type of cryptocurrency exchange you are going to start, also you must choose a country where bitcoin or other cryptocurrency operations is legal.
If you are planning to start a cryptocurrency exchange, you must choose any of the cryptocurrency exchange startup, as listed below here.
- Peer to Peer Centralized Exchange
- Decentralized Exchange
- Hybrid Cryptocurrency Exchange
Centralized Cryptocurrency Exchange
In earlier days centralized exchanges are considered to be the admin based exchange, where the admin is the only end, with whom users can buy/sell bitcoins. But now centralized exchanges have been evolved as peer to peer exchanges, where admin of the exchange website enables trading between two users. In Centralized exchanges can make crypto to fiat, and crypto to crypto trades. Admin can collect fees for every single transaction, the fees could vary based on the trading pairs and the trading volume. The exchange would have a centralized exchange wallet. To complete a cryptocurrency transaction, the seller must deposit the bitcoins or any other cryptocurrency to the admin wallet, from there the bitcoin would be deposited to the buyer address. Since the cryptocurrencies are stored in centralized admin wallet, you must bring high level security to the wallet, and must integrate the escrow system.
Required Source :
You can either choose either
- A Exclusively Created p2p cryptocurrency exchange script, or
- A centralized cryptocurrency exchange script / Software
Decentralized Exchanges are the future cryptocurrency exchanges, where the traders can perform only crypto to crypto trading. Decentralized Exchanges are completely contrast to the centralized exchanges, where the admin has no control over the user assets and their crypto holdings. The trading will be directly processed from the seller wallet to the buyer wallet with the support of any hardware wallet like trezor or desktop wallet like meta mask.
Required Source :
Hybrid Cryptocurrency Exchanges
Hybrid cryptocurrency exchanges are the mix of both centralized exchange and decentralized exchange features. These kinds of exchanges are the rare kind of cryptocurrency exchanges, where traders can opt to trade whether to trade with centralize exchange, or decentralized exchange.
Note: While creating this kind of cryptocurrency exchange, it is very important to ensure the security level from the development and deployment ends
Required Source :
Business Plan to Start a Cryptocurrency Exchange
- Write down the focused business goals, and resourced to meet that goal.
- Decide which country you are going to launch.
- Acquire a Development Support or purchase a right cryptocurrency exchange script.
- Customize the script with the help of cryptocurrency exchange developers and Fix the trading pairs, supported cryptocurrencies, supported trading features.
- Confirm the UI/UX features of the cryptocurrency exchange website. ( centralized / Decentralized.
- Launch the exchange, and keep on upgrading it with new features
- Get minimum trading volume (i.e) The liquidity, to attract more traders and trust towards your exchange startups.
Is there any Other Way To Start a Cryptocurrency Exchange ?
Start Cryptocurrency Exchange business with Clone Script
"Don't Be Smart. Instead, Be Smarter "
Smart Business Individuals thinks only about success. The smarter business magnet will think of success through the smartest way. Here let us look at the smartest way to make business revenue.Launching a clone exchange like a top cryptocurrency exchange can make you reach every soon in the market. There are many top cryptocurrency exchanges prevailing in the crypto market if you start a new one, hardly it takes more time to make your exchange a branding one as like "Binance".
So, if you start an exchange with all features and functionalities like Binance, ie., making of the clone of "Binance" can make you reach in a short time. Thus, selecting the best exchange from the list of top cryptocurrency exchanges and making the clone of them and launching your own cryptocurrency exchange is the smartest business model that will work quickly and constantly in 2020.
Already many business individuals have started following this trend and many organization provides the clones of crypto exchange. Bitdeal is one of the cryptocurrency exchange development company that provides cryptocurrency exchange clone scripts to start own crypto exchanges.
The top cryptocurrency exchange clones that are being demanded in crypto markets are as follows :
- Binance Clone Script
- Paxful Clone Script
- Remitano Clone Script
- Coinbase Clone Script
- LocalBitcoins Clone Script and more.
Below images shows the trade volume of top cryptocurrency exchanges.
Check out the top 15 cryptocurrency exchange clone scripts that Bitdeal offers for you !!
Special features to be integrated into cryptocurrency exchanges
Already there is huge competition take part in the cryptocurrency market, thus starting a new cryptocurrency exchange and making it a brand will be a difficult task. So, if you concentrate more on the features that your exchange holds can attract users and increase visibility and brand identity inturns.
So, listed here are some innovative and interesting features that cryptocurrency exchange should have to make it more popular:
1. Future Trading Options
2. Margin Trading Functionality
3. Crypto Trading Bot Integration
4. Listing of Tokens option
5. Safest Crypto Wallet Integration. as like Trust Wallet in Binance
6. Online and Offline trading plugins
8. Multiple cryptocurrency support
9. Own token for exchange as like Binance Exchange
10. Mobile application for cryptocurrency exchange and so on.
Launch your own cryptocurrency exchange with all the above features integrated with the help of cryptocurrency exchange script development from Bitdeal now !!
2. Cryptocurrency Lending
If you are having potential support from cryptocurrency communities, and are having frequent flow of cryptos to your wallet from any resources, then you can start lending your cryptos to the needed users by charging a certain interest rate.
Cryptocurrencies are used in various ways, either as a token in a blockchain network, or as a payment, or as an entity, or as an investment. So the need for cryptocurrency is very wide and the people are looking for resources which can provide bitcoins immediately. So if you can provide bitcoins or any other cryptocurrencies, for end users, you can start lending it. People will prefer this as the best way to get cryptos in a short period.
- Ensure whether you will have continuous flow of cryptocurrencies in your wallet.
- If yes, then register yourself as a lender, in any cryptocurrency exchange site, where lending is available.
- Then start lending your crypto's.
- You can get a large number of customers.
- You can trade cryptocurrencies with large volume, with the returned cryptocurrencies from your borrowers.
3. Cryptocurrency MLM Business
Cryptocurrency MLM Business, is another highly profitable business. There are a lot of MLM businesses that live in the market, like million.money, ethereum.cash, etrix.io, and fomo5k. To start this business you must bring trust to your business. How can we bring trust??
Smart contracts are the only solution.
Smart contracts bring high level trust and security to the users who are connected in the MLM network. Most of the current cryptocurrency MLM business are Ethereum based.
Require Source :
Smart contract based MLM Script.
- Decide and ensure how much ETH you can provide
- Fix the buying levels and how much ETH a node can buy in each level.
Available Smart Contract Based MLM Scripts at Bitdeal
4. Bitcoin Escrow Business
One of the oldest and ever replaceable business ideas in the cryptocurrency market is starting a Bitcoin Escrow Business as a service.
Bitcoin Escrow Exchange is one that allows for exchanges of cryptocurrencies between traders with the presence of Escrow Admin. Here the Escrow admin will handle the cryptocurrency transaction and there is no possibility of hacks by escrow admin as this process of transaction takes place through the generation of private keys.
You can launch your own Bitcoin Escrow Business and make more revenue with less effort. Get Unique Bitcoin Escrow Script from Bitdeal to launch your own Bitcoin Escrow Exchange as a business or services.
5. Online Gambling With Smart Contracts
Another kind of business, which is trending in the cryptocurrency industry. There are a lot of online betting and gambling applications there. Online Gambling with bitcoin and cryptocurrency are more secured, fast, and trustworthy than traditional online gambling. Every transaction done through online gambling is recorded in a smart contract.
6. Third-Party Cryptocurrency Wallet Services
"Safety First is Safety Always." - Charles M. Hayes
Cryptocurrency Wallet is the safest place to store cryptocurrencies. As we discussed above the importance of cryptocurrency exchanges and starting an exchange. Here let us look at the cryptocurrency wallet. You may be confused about how this cryptocurrency wallet would be one of the trending business models? Right?
Cryptocurrency adopters are increasing every second in every nook and corner of the world. As if crypto hackers are also increasing at the same rate. So, keeping our crypto assets safe from hackers is our own responsibility.
You can launch this cryptocurrency wallet development services as a business. You can provide crypto wallet services for traders in exchanges separately or else you can provide crypto wallets for an exchange as a whole. This may be a better business idea that can gain you more user-base as well as links with major cryptocurrency exchanges which will later be useful for you to launch your own cryptocurrency exchange business.
7. ICO/STO/ IEO/ CTO
Initial Coin Offering is a process of crowdfunding through which you can collect funds from volunteers (Investors) to launch their own business or startups. ICO launcher provides investors tokens, using which they can claim for profit/share in the businesses.
ICO/STO/IEO/CTO is never-ever fading cryptocurrency-related crowdfunding techniques that help every individual who starts a cryptocurrency-related business with low capital investments.ICO has been banned in many countries as there occurred many spam ICOs. Still, there is always a high demand for ICO/STO in the crypto market.
We all have come across the news about Libra - Facebook Crypto coins. You can also start your services by creating your own cryptocurrency or altcoins or stablecoins or even your own crypto tokens.
Best Countries to start your cryptocurrency-related businesses
We have revised the 5 top-most cryptocurrency business ideas that will make huge revenue in 2020. Now let us look at the most suitable locations to start those businesses to make it more effective.
India is the most promising country where you can start your cryptocurrency business.
On March 04, 2020, the Supreme court of India reverted the ban on cryptocurrency transaction which was raised by RBI- The Central Bank Of India on April 06,2018. Because of this many investors and cryptocurrency exchange startups started to move towards India.
Read article : supreme court allows trade in cryptocurrency
Malta - "The Blockchain Island " is the best place to start a cryptocurrency and blockchain-related business. Malta Government has created "The Malta Digital Innovation Authority " which provides regulatory frameworks to start crypto businesses in Malta.
Switzerland is a prosperous country in central Europe to start cryptocurrency businesses. Some of the regions in Switzerland has named " Crypto Valley " indicating its progress to start crypto businesses.
Singapore is a Southeast Asian island nation with 5.6 million people which is the best place to start a cryptocurrency-related business. Singapore is "Technology Ready Nation" which is always the best place to implement new and innovative business ideas.
Japan - The first Nation in the world to accept cryptocurrency usage, will never be out of this list. Japan's Cabinet has officially announced Bitcoins as a "Real Currency", which shows starting a cryptocurrency-related business in Japan will be worth than any other in the globe.
Mexico is one of the more interesting jurisdictions to start a cryptocurrency-related business in 2020 as the Mexico government to have regulatory laws towards cryptocurrencies.
Source : Statista
Some other important countries to start your cryptocurrency exchanges or any other cryptocurrency-related business involves:
1. South Korea
4. United States
5. Australia and more.
I think we have delivered the most useful information that will make your 2020, an unforgettable year of business growth.
"The way to get started is to quit talking and begin doing." -- Walt Disney.
All the best with wholehearted new year wishes !!
Stay tuned with Bitdeal to know more innovative information !!cryptocurrency business ideas 2020 cryptocurrency business trends 2020
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