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Businesses that make the most out of Crypto

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The cryptocurrency fever has taken over the World. The 2017 boom saw Bitcoin skyrocket in price, reaching nearly 20,000 USD per coin. A crash that followed bankrupted some and made money for others. Governments around the World introduced a number of regulations regarding cryptocurrencies over the last few years. The European Union also unveiled new crypto rules in order to combat money laundering and fraud. One way or another, crypto is slowly but surely finding its way into our culture and economies. The technology is here to stay.

Businesses That Make The Most Out Of Crypto

Naturally, this means that companies want to capitalize on the frenzy surrounding blockchain, ICOs and cryptocurrencies. This is made tricky, due to the extremely unstable nature of crypto prices. People have become overnight millionaires with Bitcoin and other similar tokens. However, most companies can’t afford to invest in an asset with that much volatility. Therefore, a lot of businesses have found ways to profit off of the new technology, without directly risking their assets. Here are some companies that manage to make the most out of crypto in a financially-savvy kind of way.

Gambling companies

With the deregulation trend rising around the World,  online gambling is becoming more popular than ever. And cryptocurrencies are playing a major role in this booming market. Curating websites like https://slotsjudge.com/online-casinos/bitcoin-casinos/ are adding more and more crypto-based websites to their register almost every day. There are quite a few defining factors for this.

First of all, cryptocurrencies are secure. Cryptocurrency-based gambling provides players with the kind of protection that FIAT money simply does not possess. No less important is the fact that crypto gambling can be anonymous and untraceable. With crypto, players who want to gamble can do so without worrying about their credit scores being affected due to their banks tirelessly tracking the transactions to gambling websites.  On the other hand, accepting cryptocurrency payments also allow gambling providers to circumvent the gambling laws in certain countries. A country is not allowing its banks to service your accounts due to legal complications? Start accepting crypto as payment and you won’t have to pull out of a market you spent time and energy cultivating.

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Exchanges, dedicated and otherwise

How can you profit from cryptocurrency without ever purchasing it? Provide others with the means to do so and collect the commissions from each trade performed. This is exactly what cryptocurrency exchange websites are doing. There’s plenty of dedicated websites focused on exclusively servicing the crypto community. But if you already have an exchange platform, just extend its range of services to include crypto trading and rake in the money. Providing investors with a secure and comfortable environment to trade in can be an extremely lucrative business. Perhaps even more lucrative than trading crypto directly.

Brokers

What about when a person wants to get into cryptocurrency investing but doesn’t have the expertise to do so? That person will resort to the services of a broker. Brokerage companies make trades on behalf of their clients, manage their portfolios and help them make the most informed financial decisions they can. Like exchanges, brokers are also either dedicated to cryptocurrency trading or just regular companies who have since diversified their range of services for this purpose. Their profit-making system also functions similarly.

Startups and crowdfunding websites

This one is a bit more hands-on approach to making money off of crypto. Cryptocurrency has made funding startups that much easier. Initial Coin Offerings, also known as ICOs aren’t the only method of crowdfunding your idea with cryptocurrency. Websites like Wefunder and Coinstarter offer their services to the crypto community for a certain percentage of the money raised. Naturally, this certain percentage adds up to a fortune over time. And that’s without having to buy a single Bitcoin.

In turn, this allows new companies and products to receive the funding for their project in a secure, untraceable way. Last few years have seen many a business get started like this. Those people saw the opportunity offered by cryptocurrencies and applied them to their specific needs.



By

Ram Kumar blogs at DeviceBowl. He is a graduate in Computer Science and Engineering. Addicted to Blogging and Coding.

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