Bitcoin Investment

This is a great way to get into retail without a huge expenditure on buying stock, and making a product available to purchase for BTC may win you some business.

7 reasons why you should not invest in Bitcoins, cryptocurrencies

Consider selling items on a decentralized marketplace using one of our guides: Syscoin for sellers and Open Bazaar for Merchants. The role of an escrow agent is the arbitrate over disputes. This may involve online purchases, freelance contracts, or other business and trade arrangements. The process is simple: If there is no problem then the buyer and seller sign and payment is made, but if there is a problem then the escrow agent must choose whether to sign the payment or the refund.

You can create a profile on websites like Bitrated to promote your services as an escrow agent. Another business which requires a certain degree of trust from your customers is the role of the oracle. Oracles publish information over the blockchain which can be used for betting, for financial derivatives, or for smart contracts. Take a look at our article on how to become a bitcoin oracle for more information about this.

Becoming a Bitcoin Broker

So why not put that knowledge to good use by helping other businesses? Both Bitcoin itself and the blockchain technology which underpins it offer a wealth of opportunities, not only for setting up a new business but also within established businesses.

Although anybody looking to set themselves up as a consultant must be careful not to overstate their expertise — most general consultancies have teams of people with different backgrounds including programming, law and other areas — there are still profitable niches that anybody with a bit of experience and a willingness to research could take advantage of.

For example, approaching small and medium sized retailers in your area and offering to guide them through the various point of sale options, or offering to conduct a presentation on blockchain notary services to a local law firm as a general introduction to what it can offer. There are many different websites and apps which could benefit from integrating digital currency into what they offer.

BTMs: Operating a Bitcoin ATM

Integrating digital currency for in-app purchases or for user-rewards schemes, or simply converting stores to accept BTC payments, may be worth considering as ways to add value to an established business.

It is not beyond the imagination to think that some offline businesses may present similar opportunities for an entrepreneur to add value in a short space of time by introducing the use of blockchain technology. When it comes to monetizing your site, there are many advertising networks and affiliate programs which pay out in bitcoin.

One of the most popular categories of website in this area is the faucet — a website which pays out a small amount of bitcoin to new users for testing or just for fun. Check out our article about how to make your own faucet for more information about this.