How to Develop Your Business by Using Bitcoin in 2021

How to develop your business by using bitcoin in 2021

Winston Churchill once declared: "We shape our buildings; thereafter, they shape us." The world changes and becomes digitized. In 2021, the famous UK Prime Minister could have probably said: “We shape our businesses; thereafter, they shape us.”

After the beginning of the pandemic, we couldn’t lose heart: we had to brace up and live on. Even though COVID-19 has wrecked the world economy, it has brought digital money to the next level. In particular, the pandemic has influenced the considerable rise in the number of online purchases, encouraged cashless payments, and made the prominent companies’ owners believe in Blockchain technology and Bitcoin.

Why launch a business with Bitcoin? 

Now we observe that major companies are constantly investing in Bitcoin, which leads to the permanent growth of crypto assets.

Namely, much-hyped Tesla Motors invested $1.5 billion in Bitcoin. In the same fashion, the company announced upcoming changes and accepts BTC as a new payment method. The owner of Tesla, Elon Musk, vividly supports cryptocurrency in social networks.

The other major business software company that plays ball with digital assets is MicroStrategy, which bought Bitcoins for $2.186.

All of the above factors are a reason to think about what kind of business will be profitable in the next few years. If you are eager to start your business by using Bitcoin from the ground up, we will get you covered.

Which domains will be the most lucrative in 2021 to set up the business?

Today, Blockchain is not just about cryptocurrency. You can use it for various purposes in different industries. Since recently, digital assets have opened for us a plethora of business opportunities. Let’s discover them.

1. E-commerce

In our fast-changing world, any kind of business needs to cut the mustard of its target audience. Thus, a question arises: does the company need to resort to various technologies in order to be successful, or could different approaches just hurt in a way to success?

Many retail companies these days are adapting to their audience, trying to meet all their needs. Even banks are now adopting bitcoin transactions. Example: ANZ bank is now offering bitcoin transactions like buying bitcoin using ANZ bank account. As technologies surround us everywhere, companies were obliged to change their business approach. However, this starts in organizational challenges, specifically business culture and fear of technology, which companies are afraid to change and feel they have created. Culture and cooperation with their customers are what make them successful.

  • The drag of digital transformation

Even though shifting to e-commerce is inevitable, they are afraid to lose companies’ culture and values.

Nevertheless, the XXI century puts in its claims. According to Forrester, by 2023, about $1.8 trillion in online e-commerce orders will take place.

  • Why start e-commerce business with Bitcoin and other digital assets

If you want to boost or start your business from scratch, you need to consider the importance of digitalization. While launching your e-commerce project, you can offer your customers various payment methods, including cryptocurrency. What is more, the good idea is to create your token to reward your clients for purchases that they could exchange on some items or services of your shop. 

2. Crypto industry

  • Exchanges

The cryptocurrency exchanges offer you multiple possibilities: trading, investment, staking, savings, and digital wallet services.

With all this hustle and bustle around digital assets, the great idea is to create your crypto exchange where sellers and buyers could manage their businesses. They will have the possibility to buy crypto with fiat and trade with various digital assets, like BTC, ETH, etc.

A great example of such platforms is CEX.IO exchange and Mogo Canada where you can trade crypto and easily withdraw your money.

  • Crypto gambling platform

You may probably know how popular online gambling is. The casino business is so lucrative nowadays that every time a new casino opens, investors pop champagne bottles and raise a toast.

You could come up with an idea of integrating cryptocurrency payment methods in gambling platforms. Thus, players will be able to pay not only with fiats but also with Bitcoin and other digital assets.

In addition, a good decision is an online casino accepting the bets only in crypto. Platforms like BitcoinCasino were developed with such a technology that allows betting with cryptocurrencies.

  • Crowdfunding platform

One more idea for a business using Bitcoin is to launch a cryptocurrency crowdfunding platform and bring cryptocurrency fundraising to the real world. Such platforms allow users to support innovative projects using different types of digital assets and startups.

3. Cybersecurity

With the rise of interest in digital assets, the world observes multiple hacker attacks on cryptocurrency exchanges and financial companies aimed at stealing secured data and money. Payments and banking spheres suffer from data hacking. Namely, the ransomware band, known as DoppelPaymer, has recently announced the cyberattack of the company, locking down the company’s data and requiring a $20 million redeem.

So, obviously, for Fintech, it’s better to prevent system penetration than cope with consequences. With this in mind, why don’t you go deeper into penetration testing? The price of such a service made for a cryptocurrency exchange or any paying platform could range from $10000 to $20000, depending on the difficulty of the procedure.

In a nutshell

Digital assets penetrated our life and are here to stay. Obviously, for a long time. We have analyzed the most profitable domains to start your business by using Bitcoin. So choose what is up to you and try a hand!

For those still wanting to invest but preferring the tangible assets of precious metals and coins, there are opportunities to invest and you can learn more about those here:

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