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Bitcoin Balances on Exchanges Fall to Levels Not Seen Since 2018

Bitcoin Balances on Exchanges Fall to Levels Not Seen Since 2018

Bitcoin balances on exchanges have fallen to levels not observed in two years, according to data from Arcane Research (via Bitcoin.com). The firm reports that the amount of bitcoin being taken off exchanges has declined sharply and is “one of the main stories of the year.”

At the same time, some investors who have held bitcoin for a long time are now starting to sell those bitcoins, locking in profits as the price hovers around record highs.

Bitcoin on exchanges is down 21% this year

According to Arcane Research, the amount of bitcoin held on exchanges is down 21% since February. Onchain statistics from Glassnode indicate that the amount of bitcoin held on exchanges is down to levels not seen since 2018. Between January 2018 and February 2020, the total amount of bitcoin held on exchanges increased. However, the trend reversed course starting in February.

Arcane Research tweeted about bitcoin leaving exchanges and shared a chart that illustrates Glassnode’s data. Exchange balances of bitcoin moved sideways last month, but they started to fall again this month, according to Arcane Research.

Investors may be looking more long-term

Some speculate that the reason exchange holdings of bitcoin are falling could be because people are looking at the cryptocurrency as a long-term investment rather than a short-term speculative trade.

Meanwhile, some investors who have held bitcoin for a long time are starting to sell, locking in profits as the bitcoin price hovers near record highs. To spot this trend, researchers used bitcoin’s Entity-Adjusted ASOL (average spent output lifespan).

Additionally, the Daily Hodl spotted two transactions by bitcoin whales that moved more than $1 billion worth of the cryptocurrency from one wallet to another. According to BitInfoCharts, one whale moved almost 25,000 bitcoin worth $473 million from the world’s 27th largest bitcoin wallet to another unknown wallet, emptying the first one.

About 20 minutes later, another wallet moved more than 32,000 bitcoin worth $627 million to a new wallet, draining that one as well. BTC Block Bot spotted both transfers.

What is ICO? And How To Launch A Successful ICO?

What is ICO? And How To Launch A Successful ICO?

There has been a lot of buzz about ICOs and cryptocurrencies in recent years. You may have heard about these terms, but you may not know what an ICO actually is or what it is used for.

What Is An ICO?

An Initial Coin Offering (ICO) is a newly introduced method of crowdfunding which businesses, especially the cryptocurrency startups, are using to raise funds for their new projects.

What is an ICO

Also occasionally referred to as crowdsale, ICO is an event through which a cryptocurrency company releases and sells its tokens with the purpose to raise funds.

The said company announces a new crypto-token and sells its future tokens to interested buyers and investors in exchange for fiat currency, Bitcoins, or any other cryptocurrency.

ICO is a proven way of raising funds to initiate a crypto project, however, the success of the project depends on a number of things, including the concept, demand, technology, and the team.

ICO Vs. IPO

IPO or Initial Public Offering is a very popular yet outdated concept of fundraising for businesses.

There are many differences between the IPO and the ICO, some of which are mentioned below.

  1. A company’s shares purchased during an IPO give the buyer a share of ownership in that company. This is not the case with an ICO. Tokens purchased in an ICO give you limited capability in the management of the company, such as voting power, details of which are usually mentioned in supporting documents. For the most part, it is just like any other currency that you can use for trading and/or buying and selling things.
  2. IPO is a sale of the company’s stock and shares, but ICO is a sale of the company’s crypto tokens.
  3. IPOs are required to get registered for the regulatory purpose. There is no regulatory provision or requirement for holding an ICO.
  4. ICOs generally conclude in a short period of time while IPO sales usually run long.
  5. IPOs are often exclusive to privilege members such as banks, financial institutions, and selected investors. ICO sales, on the other hand, are open to all.
  6. IPOs are complex, costly and time-consuming. ICOs are short, cheap and easier to run.

How To Launch And Run A Successful ICO?

Launching an ICO is easy, but making it a success is not so much. Here is a step-by-step guide to launching and running an ICO successfully.

1. Start With The Research Part

The most obvious mistake most ICO startups make is – they do it too soon, usually without proper research.

Competition analysisBefore you even plan to launch your cryptocurrency, you need to know everything there is to know about cryptocurrency and how this industry works. Research and read the following topics.

  • What is an ICO?
  • The success stories of popular ICOs
  • The failure stories of ICOs and why they failed
  • Features of a good cryptocurrency
  • What makes a good ICO
  • Concept ideas

Most importantly, search for what people in the crypto industry are looking for and what they need that doesn’t already exist.

2. Find Out Your Business’s Eligibility For ICO

Before you go deep, make sure to figure out whether or not your business is eligible for ICO.

Business’s Eligibility For ICO

Just so you know, ICO campaigns are not suitable for every business type. Here are a few things to look for.

  • Whether your business provides value to users, is authentic, and provides transparency?
  • Do you have an original product that can be integrated with the cryptocurrency?
  • How will your product dance crypto users and investors?

These points will clear your ideas and become a base for developing your ICO whitepaper.

3. Find An In-Demand Concept For Your Token

Find a unique and in-demand concept and develop your coin around that concept.

 In-Demand Concept For Your Token

If you are just planning to create a cryptocurrency with no specific concept the sole use of which would be sale and trading, you should think again. Your coin may hold a good price for some time, but the price will crash for sure as the ICO finishes.

There are too many such tokens out there which return no to very small value and investors are no longer interested in such projects.

So, it is important that your coin is based on a unique concept that is in demand. Again, you will have to research, a lot, to find out that idea.

The real test of the stability and usability of your token begins only after the ICO ends and it goes live on the marketplace. If there is no demand, your coin will eventually go down.

To sum it up, start an ICO only if you think that a crypto token can add value to your product.

4. Define Project Team, Goals And Dimensions

As you start formulating the project concept, make sure to clearly define the following things in your ICO whitepaper and communicate the same to your target audience.

  • The team – who will be working on the project
  • The goals – what you desire to achieve through this project
  • Investor protection – how you expect to protect investors’ money and interests

These are the most important things investors will look for when considering to invest in your ICO.

5. Form A Good Team

A team will be the face and the back of your ICO project. Be sure to include persons whom you know and trust.

The team members should be skilled in their respective fields and must be qualified to be a part of the project.

team work

Your investors, as well as buyers, would like to know about the team behind the project before they choose to invest.

Add the details of major team members, along with their photos and contact information, on your website and in the whitepaper. It builds trust.

If your team lacks high-level professionals, you can always search for industry professionals and get them to join your project as advisors. It is one of the best things you could do for your ICO.

6. Create Quality ICO White Paper Communicating Project Goals Clearly

There is a reason why white papers are used by the ICOs. These documents tell your potential users everything there is to know about the project, including the goals, objective, about token and the ICO, user benefits, investor options, roadmap, technical aspect, etc.

Make sure that the goals of the project are properly defined and realistic. Users won’t like goals that are confusing or unclear. It indicates that even the team doesn’t know what they are doing or want to do.

 

7. Define The Investors’ Terms

Your investors would certainly appreciate it if you take extra measures to protect their investments, such as establishing an escrow wallet to protect the funds, offering early discounts and premiums, and creating a mechanism to return the funds if the project fails.

8. Other Factors To Consider

The following things can further impact the success of your ICO campaign.

  • Timing – launch your ICO roughly 2-3 months after the inception of the idea
  • PR and marketing – Get the word out there through the social media and the forums
  • ICO agency – Hire ICO developers, website developers, white paper writers, marketers, etc.
  • Do not break the law
  • Do not break the user trust

Looking to create a successful ICO campaign? Get in touch with our ICO development team to know what it takes to become successful in this industry. SAG IPL is an India based IT software company providing cryptocurrency and ICO development services to clients worldwide.

Easy-Breezy Ways to Create Your Own Cryptocurrency

Easy-Breezy Ways to Create Your Own Cryptocurrency

Digital Currency is the new way to make money. Here are important steps to create your own cryptocurrency like Bitcoin/Litecoin.

The term “cryptocurrency” was first heard by many people when Bitcoin was introduced in 2009. Today, it is one of the top digital currencies in the world. Cryptocurrency commonly refers to digital currency or asset that was created to secure the medium of transactions of money. Also known as Coin, Token & ICO in the development industries.

When we first heard about cryptocurrency, most of us ignored it as a temporary thing that will probably fade away in a few years or so, but now we understand that cryptocurrencies are here to stay.

Difference Between A Coin And A Token
While most people, including many professional investors, think that both coin and token represent the same thing, it is not actually true. Coins and tokens are two different types of cryptocurrencies.

Cryptocurrencies that operate on their own blockchains are called coins. Common examples include bitcoin, Litecoin, etc. Tokens, on the other hand, operate on an existing blockchain system like Ethereum.

The blockchain is a collection of transaction ledgers. Since c0oins have their own blockchains, they maintain their own network of transactions, while tokens make use of the underlying blockchain technology for verifying their transactions. Coins are considered ideal for the transaction of money and other financial assets. Tokens are mostly used for creating smart contracts for various things like physical items, reward points or anything else.

Tokens are usually sold through ICO (initial coin offering) events in exchange for popular coins. Coins can be directly purchased in the exchange market.

Building Your Own Blockchain
Like we said before, building a coin will require you to have your own blockchain. Here, you have two options – you can either build a blockchain from scratch or you can modify an existing blockchain according to your coin requirements. For both options, you will require considerable technical knowledge and coding skills. Alternatively, you can seek the help of a professional code developer.

The process of building a blockchain system involves the following steps:

Identifying the right subject matter based on the things that blockchain can do – data verification, smart contracts, and smart asset management.
Finding a method of agreement (consensus) that makes the perfect sense for your blockchain idea.
Choosing the right blockchain platform from options like BigChainDB, Corda, Eris:DB, Ethereum, Multichain, Quorum, etc.
Deciding the terms and features for node creation.
Configuring the blockchain for various elements like permissions, key management, asset issuance, parameters, block signatures, etc.
Creating APIs for smart contracts, key pair & address generation, data storage and access, etc. (optional)
Designing the user-interface and admin panel using a front-end programing language and an external database and web server.
Implementing future technologies like Artificial Intelligence (AI), Cloud, Data Analytics, Machine Learning, etc for further enhancing the power of the blockchain. (optional)
However, if you are planning to create a new token, you will just have to choose a reliable blockchain standard like Ethereum’s ERC20 for your tokens to operate on, and you are good to go.

Many people now wonder if it is possible for them to create your own cryptocurrency and if yes, then how. Let’s find out.

How To Trade Cryptocurrency – Ultimate Guide

How To Trade Cryptocurrency – Ultimate Guide

In this guide, let’s talk about how to trade cryptocurrency.

Reading Time: 20 mins

Anyone who is remotely interested in learning about crypto has taken part in some form of trading. As it gets more and more mainstream attention, newer players want to enter the market and get their slice of the crypto pie. So, to help those people enter this exciting market, we have created this “Cryptocurrency Trading Guide.”

In this guide, we are going to take you through all the steps in order for you to become a crypto-trader. We will be going through the following sections:

Fiat to Crypto Trading.
Storing Cryptocurrencies.
Crypto to Crypto Trading.
Enjoy a free lesson from the Blockgeeks Library!

How To Trade Cryptocurrency: Fiat to Crypto Trading
So, you have some money that you want to invest. How are you going to go about it? The portals which connect our world to the crypto-worlds are called “exchanges.” There are a lot of exchanges out there, however, before you choose to invest in one, there are certain things you need to look out for. Let’s call this the “Exchange Checklist.”

Validity: Before you even do anything, first make sure that the exchange is available in your area. Eg. Coinbase, one of the largest exchanges, is not available in India and Indonesia. So before you do anything please check this.
Reputation: Next thing that you need to check is the reputation of the exchange. Are people happy with their services? Has it been hacked recently? How secure is it? Have people complained about it? Twitter and Reddit are good sources for checking this.
Exchange Rates: Up next we have the exchange rates. Different exchanges have their own exchange rates which may vary. Do your homework here and research 3 or 4 exchanges and their rates.
Safety: Please always choose exchanges which need some sort of ID verification from you. Even though they may take time, they are easily 100 times more safe and secure than anonymous exchanges. At the end of the day, it is your hard earned money. You must take that extra step to keep it secure.
You can do your own research and choose your exchange, however, in this guide we are going to go with the most popular crypto exchange out there Coinbase. So, let’s start trading!

Security and Account Addition
Next up is security and Account addition. In this section you will need to do the following:

Phone Verification: Phone verification is necessary to give your account a 2-step verification process. Firstly, you’ll have to enter your phone number.

Tips on How to Create a Cryptocurrency

Tips on How to Create a Cryptocurrency

You might have heard of Bitcoin or Ethereum, and maybe even Ripple, but in fact, there are over a thousand different coins and tokens available. In fact, according to Wikipedia, there are over 1,384 cryptocurrencies in use worldwide. That’s a lot of cryptos! So, why not add to the pack? Well, you might be able to after I teach you how to create a cryptocurrency.

Before we get started though, there are three things you need to know:

By the end of this guide: you’ll understand the basics of how to create a cryptocurrency and the importance of building trust with the people who support your cryptocurrency!

This guide will also help you understand how important it is to have a good idea and purpose for your crypto (and why you’ll need a lot of spare cash to help fund this project!).

How to Get Started
The real ‘getting started’ begins with your idea, but we will get to that later. First, let’s talk a bit about technology.

There are two primary ways of creating a cryptocurrency:

Build your blockchain — this will have its own ‘coin’
Use NEO, Ethereum or a similar platform to create an application — this will have its own ‘token’
So, the first thing you need to decide when figuring out how to create a cryptocurrency is whether you’re going to build a “token” or a “coin”. Are you going to start from scratch? Or build a token on technology that is already trusted and available?

Coins and tokens are both cryptocurrencies. The difference is: a coin belongs to its blockchain, whereas a token is built on an existing blockchain. So, there can be thousands of tokens built onto a blockchain, whereas there can only be one coin.

Here are some of the most popular coins:

The tokens built on Ethereum are called ERC-20 tokens. The Ethereum blockchain is a great playing field for people who are trying to learn how to create a cryptocurrency because the Ethereum blockchain was the first to offer this service and is very well trusted.

NEO is very similar, but instead uses the NEP-5 standard token, and allows people to use the NEO blockchain to create applications and tokens. It is the second most popular platform!

Ethereum may have the trust and popularity advantage, but NEO has an advantage of its own. On NEO, you can build with many different programming languages, including C++ and Java. On Ethereum, you can only build using Solidity (Ethereum’s programming language).

This means that developers using NEO do not have to learn a new language, and instead can use a language they are already familiar with.

So, which would you prefer to learn how to create a cryptocurrency? If you’d like to use Ethereum, you’ll need to learn Solidity. If you use NEO, you can use a pre-existing language that you may already be familiar with.

The good news is: Solidity doesn’t have to be difficult to learn. It was designed to be similar to Python, JavaScript and C++ to make it easier to learn. Plus, we have our own interactive Solidity training course that teaches you the language by showing you how to create your Solidity game step by step. It’s a new, fun way to learn: it’s called Space Doggos.

Step by Step: How to Create a Cryptocurrency

Step by Step: How to Create a Cryptocurrency

Introduction
So you’ve heard of Bitcoin, Ethereum, and maybe other cryptocurrencies that have taken the world by storm. You’re looking to get involved somehow… What if you created your own cryptocurrency?

It’s a radical idea – creating your own money – perhaps that’s why, as we mentioned in our future of cryptocurrency article, crypto was the best performing asset class of the 2010s. However, if you know how to create a cryptocurrency, your radical idea can become reality.

How to Create a Cryptocurrency: Business Considerations
Before jumping right into the development of your own crypto, there are some key business-related decisions you’ll want to consider if you want your project to be more than just a fun project.

1. Define a purpose for your cryptocurrency
If you’re going to create a cryptocurrency, there should probably be a reason for its existence. Otherwise, what reason do people have to use it?

Nano is an example of a cryptocurrency with a strongly defined purpose – fast and feeless digital payments.

Once you have a purpose for your cryptocurrency, be sure to explain it in a white paper, along with other aspects of your project.

2. Consider the legal implications
As the blockchain space has grown, so has regulatory scrutiny of the space. You want to make sure that everything you’re doing is legal throughout the entire process by consulting with a legal professional.

3. Define a budget
Creating your own cryptocurrency is no easy task and will likely require some financial resources unless you can take care of things like development, documentation, and marketing yourself.

While costs vary from project to project, here is a rough estimate of what you can expect:

Category Time Cost
Legal Counsel Ongoing $20,000-$100,000+
Development 15 minutes – 6 months+ $0-$100,000+
Whitepaper and Other Documentation 1-2 weeks $5,000-$7,000, or about $500/page
Security Audit 1 month $3,000-$10,000+
Marketing Promotion 1 month – 3 months+ $10,000/week
Listing (on Sites that List New Projects) 1 month+ $10,000+
Of course, you can do this all yourself for free. However, if you don’t have the necessary expertise, know that sourcing it may cost you.

4. Hire a strong development team
Unless you’re developing your crypto yourself, you’re going to need strong developers to help bring your idea to life. This might be difficult since demand for blockchain developers is through the roof, while supply of skilled blockchain developers remains low. Nevertheless, finding the right team is crucial, since blockchains deal with peoples’ hard earned money and need to be technically sound.

5. Hire external auditors
Found the right developers to create your cryptocurrency? Again, since it’s peoples’ money on the line, you’ll want to double and triple check that your security is top notch. This is where external security audits come in.

MakerDAO, a project that has about $400 million of crypto locked in its smart contracts as of writing, regularly undergoes external security audits.

MakerDAO is the leading DeFi (decentralized finance) application and has seen the value in its ecosystem explode, making it a target for hackers. Image credit: DeFi Pulse
6. Promote your project!
Even though making your cryptocurrency might seem impossible in itself, remember that after you make it, you need to promote it! You could have the best project in the world but if no one knows about it, it’ll be hard to make progress and grow the network.

Press releases, social media – especially channels popular with the crypto community like Twitter, Telegram, Reddit, and Discord, and blogs are a good place to start.

7. Nurture and grow your community
After promoting your project, you need to make sure that you engage with and nurture your community. Answer their questions and provide updates on your progress. Many projects have community management teams for the sole purpose of growing a loyal user base. Your early adopters will become your biggest fans and marketers so don’t neglect them!

How to Create Your Own Token
So in the world of crypto, there are various types of crypto assets. But one distinction people often make is between cryptocurrencies or coins and crypto tokens. Cryptocurrencies or crypto coins are crypto assets that have their own blockchain, or record of transactions. Bitcoin is a prominent example.

Tokens, on the other hand, use another blockchain instead of their own. The most popular example of a token would be the ERC20 token, which are tokens that use the Ethereum (ETH) blockchain.

Why are some assets tokens and not cryptocurrencies or coins? Simply put, it’s a lot easier to build on an already built out platform than it is to build your own. Moreover, what some projects will do is start out on a platform like Ethereum, before migrating to their own blockchain.

This saves a lot of time and money in development costs and also lets a team gauge a project’s potential before investing more into the development of their own blockchain.

Top Cryptocurrency Business Ideas 2020

Top Cryptocurrency Business Ideas 2020

Hey everyone, Successfully we are stepping into 2020. And most of the business people might have an oscillation in starting a new business or uplifting their business to the next level. Obviously, our earth has been facing a continuous evolution in both technology and the economy. As a result of this technology development, it will give emergence to services, industries, and business innovations.
So many business ideas are out there in the market, but at present, cryptocurrency is being one of the hot trends to start a business. Entrepreneurs like you also try to make a note in your mind that Cryptocurrency Business is like a Roller Coaster where you can experience both ups and down to the extream, but the point here is how you tackle those obstacles to reach your destination.
To Start a cryptocurrency based business, you should completely analyze the cryptocurrency industry, research the trading mechanisms, extract the existing problems, and derive the factors that would bring the right solutions for the existing problems in trading.
Let’s have a look at the most profitable cryptocurrency business ideas for 2020 So that you can choose the best suit for you!
Top Cryptocurrency Business Ideas 2020
There may be some business models to get change every year, but if you research the cryptocurrency industry, there exchange business, followed by that mining, wallet, trading, smart contracts stands like a root which can’t be replaced forever and ever.
1.Bitcoin Exchange Business
2.Ethereum Exchange Business
3.Bitcoin Wallet Business
4.Bitcoin Mining Business
5.Decentralized Exchange Business
6.STO
7.Private Blockchain Implementation For Business
Bitcoin Exchange Business
A “bitcoin exchange” is a business platform that executes continuous trading of cryptocurrencies all over the globe. The buyer, seller, and admin are the three people who keep an exchange active. Admin is the only person who gains a lot of profit than the bitcoin traders. Because he is not going to get involved in any complex transaction, and he doesn’t have to watch the bitcoin price, and he is not answerable for any loss of bitcoins.
I hope you understand why bitcoin exchange businesses are considered to be the most profitable business online!
To Develop a Bitcoin exchange website, you don’t have to be a developer or a techie. All you need is the right development support either it may be a bitcoin exchange development company, freelancers, or a complete bitcoin exchange script source code.
Ethereum Exchange Business
Ethereum is the cryptocoins which supports both ICO and cryptocurrency exchange/trading platforms. Most of the ICO tokens are created by ethereum based algorithms only. This paid away for more exchanges to sell ethereum tokens than bitcoins for their trading process. So the existing exchanges are started to enable trading options to trade with either rum tokens.
The impact of ICO’s made the word Ethereum spread more and this made people eagerly invest in ethereum tokens than bitcoins or altcoins, which resulted in the creation of more and more etherum exchanges.
Bitcoin Wallet Business
Whatever business model emerges inside the industry, the need for the crypto wallet is essential and can’t be negotiated. We believe, cryptocurrency wallets are the backbone of the industry, and that ensures the security of end-user digital assets.
Wallets are the primary sources to keep digital assets and funds securely. 99% of cryptocurrency transactions can’t proceed without the presence of a cryptocurrency wallet. You can take any blockchain applications, like cryptocurrency exchange website, ICO website, or any other crypto-related buy-sell applications, the need for Wallet is necessary and unavoidable too.
Decentralized Exchange Business
Decentralized exchanges (DEX) will never store traders funds in a third party wallet & the traders have full decision-making authority to manage their funds with high security.
The decentralized exchange website (DEX) which will execute super fast and secure exchanges across the globe. The specialty of a decentralized exchange is it is 100% hack protected, hence the goal of many cryptocurrency entrepreneurs is to create an innovative and a next-generation cryptocurrency exchange website.
STO
Security Tokens are crypto tokens that are packed with any real-life tangible assets, stocks or profits. This kind of security tokens are subjected to common federal laws & are registered with SEC.
Security Token Offerings are the future trendsetter in crowdfunding. Hence the Security Token Offerings are considered as fully supportive for investors’ side. A legal crowdfunding model that gives high-level investment security and empower startups by raising venture capital funds from accredited investors all over the world.
Private Blockchain Implementation For Business
It is a technology that is used to store and retrieve the data in a blockchain. All data are encrypted and stored in an easily retrievable and decentralized location called blocks of the blockchain. People who have the right to access the blocks can monitor and validate the data.
By understanding the real benefits of this undisputed technology business people made steps towards converting the technology for all kinds of business purposes.

Top 5 Most Innovative Cryptocurrency Business Ideas 2020

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.

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.

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
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 :

Decentralized Exchange Script

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 :

Hybrid Cryptocurrency Exchange Script.

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.

And more.

5 Types of Cryptocurrency Business Ideas to Inspire You

5 Types of Cryptocurrency Business Ideas to Inspire You

Ask anyone in technology and without question 2018 should be renamed the “year of cryptocurrencies and blockchain.” Since 2017, there has been a surge in entrepreneurs, investors, start-ups towards starting an innovative cryptocurrency business. Now, projects and companies have become so developed i.e. “BitExchange”, you can get ready-made blockchain projects to commence start your business in 2019 straight away. With this technology available, what cryptocurrency business ideas are there?

A Cryptocurrency Crowdfunding Service
Small but mass participation of investing from the “average” investors I definitely one of the hot growth areas of finance in the last 5 years. Budding entrepreneurs often face rejection from investors who fail to see the value in the product and invest. Their secondary medium of choice to raise funds? Crowdfunding. How does it work? Crowdfunding is a concept that allows a large pool of general public to see what the idea is and then, if they believe in the idea, can choose to contribute anything from £10 to unlimited until the desired target price of revenue has been reached. All this in return for proportionate equity.

Cryptocurrency is not judgemental about age, gender or geography. A blockchain powered crowdfunding business would enable investors of all backgrounds across different countries to back good ideas, without any limitations with almost any viable cryptocurrency (no need to change fiat) from anywhere in the world, instantly thanks to blockchain transaction technology. A “plug and play” crowdfunding script would help to start a crowdfunding business immediately and every transaction is done through the platform, whether people buy a token, sell a token or when creators want to withdraw the sum in a fiat currency raised would be subject to a small commission in percentage form.

A Crypto Style Bank For Lending
As the world of finance changes, the way capital is lent will change and what actually is defined as capital will too. It is predicted that millennials are looking for avenues to make wise investments with fewer risks and high returns as they themselves have less money than their baby boomer parents. This is a pre-built, educated and ambitious market to go after. Giving them a guaranteed return for a fixed period of time would woo investors who would want to lend their cryptocurrency assets.

Alternatively, it could be as simple as lending a stable or most dominant cryptocurrency. Bitcoin borrowing and lending script, you can start a lending business, manage the customer’s, keep track of the transactions, automatically remind borrowers to payback on time across channels, etc. Revenue into the business would be partially through the investments you make with these cryptocurrencies and also via interest paid back by the borrower.

Cryptocurrency Exchange Business

A cryptocurrency exchange is critical for an investor to seamlessly trade (buy or sell) their cryptocurrencies for other cryptocurrencies or various fiat currency (USD, AUD, EUR, GBP). Volatility and volume have been drastically reduced as the year has gone on however due to the recent increase in awareness on mainstream media on crypto, more private investors attempting to diversify their portfolios, the scale of demand cannot be handled by the existing exchanges. Hence, there’s scope for more exchanges.

In the recent times, it is even easier for an entrepreneur to start a cryptocurrency exchange business by using a ready-made cryptocurrency exchange script that efficiently matches all the orders on the platform and safely executes the transactions. Things have moved on since then with SEC/FCA regulation pending, you would need to invest in securing the exchange as it is a prerequisite for starting an exchange. If the exchange is the perfect blend of user experience, security and broad options for users to trade then it’s very much a case of “build it and people will come.”

Blockchain Powered Cross-Border Payments Applications
Payments and fintech is the hot commodity for top finance companies to acquire this year. You can wire money on almost any messaging app these days as well as banks, brokerages and standard payment apps. Still, making cross-border payments when corporate or private is expensive and settlement can take days owing to middlemen e.g. Banks, exchange agencies, etc and settlement systems that were built to make money at every stage of a transaction. A cost for the privilege is applied too. A blockchain powered app that uses Stellar Lumen’s token, XLM would enable faster transactions by cutting off additional middlemen that slow down the process. Read more about how cryptocurrencies are changing the future of payments.

Payments made in the sender’s fiat currency e.g. $ would be converted to XLM tokens and the XLM tokens are sent to the recipient. The recipient can then request for withdrawal in their fiat currency. In the background, XLM is converted to their region’s fiat currency and deposited to recipient’s bank account. This could also work for Ripple’s XRP, for example, is already on trial. All this at a fraction of the cost and less than a day’s time and now you probably know why it’s among the list of trending cryptocurrency business ideas.

Cryptocurrency Wallets
It’s no secret that cryptocurrency exchanges are extremely vulnerable to attacks and safety and security, certainly to the older generation, is paramount. When crypto is purchased, the next stage should be to move the various tokens to a tried and tested cryptocurrency wallet. Seasoned traders often shift the cryptocurrencies to a secure wallet that is not operated by the exchange itself to add another layer of security but differing between providers. You should also diverse platforms and where you store crypto in case one platform gets hacked. Starting a Wallet-as-a-service platform would require you to securely store the cryptocurrencies on behalf of the users.

Additionally, if you can build the capability to send and receive cryptocurrencies, it makes people’s lives easier. Regulation is coming so compliance and KYC would be a hefty expense of time and money but a good revenue stream would still be integrating wallets in the corporate market to aid their future cryptocurrency payments. You would make money on every transaction executed through the wallet or charge them a subscription fee for constantly, predicted income.

HOW TO START A CRYPTOCURRENCY BUSINESS

HOW TO START A CRYPTOCURRENCY BUSINESS

Blockchain technology has given rise to a new digital currency: cryptocurrency. The most well-known cryptocurrency is Bitcoin, but there are hundreds of other “altcoin” cryptocurrencies. All of these cryptocurrencies are developed by cryptocurrency businesses.

The cryptocurrency marketing is young, yet it has a promising future. It’s been forecasted to reach as much as $1 trillion in 2018.

Learn how to start your own Cryptocurrency Business and whether it is the right fit for you.

Start a cryptocurrency business by following these 9 steps:
You have found the perfect business idea, and now you are ready to take the next step. There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your cryptocurrency business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

STEP 1: Plan your Business
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

What are the startup and ongoing costs?
Who is your target market?
How much can you charge customers?
What will you name your business?
Luckily we have done a lot of this research for you.

What are the costs involved in opening a cryptocurrency business?
Programmers who are competent in C++ can create a new cryptocurrency without any financial layout, for the open-source core code that’s needed is readily available for free on Github.

Instead, the primary startup cost is time rather than money.

A competent programmer can create a new cryptocurrency in as little as 30 minutes because the core code is already written. A half-hour cryptocurrency is unlikely to be successful, though.

Successful cryptocurrency businesses usually have unique cryptocurrencies that have adjusted hashes, and changing the hash can take months. The businesses also typically invest a lot of time marketing their new cryptocurrency, for success ultimately depends on whether people adopt and start using the cryptocurrency.

At the time of writing, businesses didn’t have to register with the Securities and Exchange Commission when issuing an ICO. Businesses may choose to work with an attorney who’s familiar with ICOs and Securities issues, however. Doing so would increase startup costs but may have significant long-term benefits.

What are the ongoing expenses for a cryptocurrency business?
The ongoing expenses for a cryptocurrency business are minimal. It takes a great deal of energy to run the computer programs that cryptocurrencies rely on, but miners pay for this energy. The creating business rewards miners in cryptocurrency, which is built into the equations the business is created on.

Who is the target market?
Focusing on a community also provides businesses with a set group to market to. A targeted community can be almost any group, so long as it’s defined and has use for a peer-to-peer currency.

How does a cryptocurrency business make money?
Cryptocurrencies currently make most of their money through initial coin offerings (ICOs), which are akin to initial public offerings (IPOs) of stocks. An ICO can bring in a one-time influx of cash through the sale of coins. Afterward, any coins that a business itself has will hopefully gain value as the cryptocurrency becomes more popular and increases in value itself.

In the future, some cryptocurrency businesses will start to see more of their revenue come from transaction fees.

How much can you charge customers?
Many coins cost 10 cents each at the time of their ICOs, but cryptocurrency businesses are free to choose any amount they like. Some choose an incremental price structure to entice early adopters. After an ICO, the price of a cryptocurrency is determined by the open market.

How much profit can a cryptocurrency business make?
The profit potential for a cryptocurrency business is extremely high. For example, one business has raised $133 million in capital for a new cryptocurrency before an ICO.

How can you make your business more profitable?
Cryptocurrency businesses owners may start up mining operations to create additional revenue, but this could be perceived as a conflict of interest. Most businesses primarily focus on increasing their cryptocurrency’s value through marketing and providing ongoing technical support.

What will you name your business?
Choosing the right name is very important. If you don’t have a name in mind already, read our detailed guide on how to name a business or get some help brainstorming a name with our Cryptocurrency Business Name Generator.

Then, when registering a business name we recommend checking if the business name is available in your state, federally by doing a trademark search, searching the web, and making sure the name you choose is available as a web domain to secure it early so no one else can take it.

Find a Domain Now
Search for your perfect domain…

.com

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After registering a domain name, consider setting up a professional email account (@yourcompany.com). Google’s G Suite offers a business email service that comes with other useful tools, including word processing, spreadsheets, and more. Try it for free
STEP 2: Form a legal entity
Establishing a legal business entity such as an LLC prevents you from being personally liable if your cryptocurrency business is sued. There are many business structures to choose from including: Corporations, LLC’s, and DBA’s.

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