With the start of the '20s, we have entered a new era in this digital expanding world. A good example of this is the rise of cryptocurrencies in the past decade. In fact, this entirely new asset class witnessed colossal gains which can only be compared with the rise of the internet in the '90s of the past century. If you are looking for new ways to earn money online or are looking for new investment opportunities this young industry should be it. In fact, with the introduction of Blockchain technology new online business models appear which need further developments and growth.
Look at this, only in 2020, the total cryptocurrency market witnessed a growth of more than 40%. Moreover, from the start of January until today(February 2020), an additional amount of 30 Billion! Dollar was added to the markets.
This massive flow of capital going into the cryptocurrency markets hasn’t been unnoticed by online entrepreneurs and business owners. As a matter of fact, these young but very fast-growing markets offer a lot of new business opportunities. For this reason I will cover some online business models which have lots of potential to succeed within this space.
Business model 1: Affiliate marketing
Bitcoin and cryptocurrencies have one thing in common and that lies in its decentralized nature. Because of this nature, no dominant party in the markets exists which has full control. If you are a start-up and want to join this market, no central authority will stop you from doing this. As a result, a lot of trading platforms, Blockchain projects or FinTech start-ups have entered the market.
To gain market share fast, all these start-ups have one thing in common which are referral programs. All participants in the market, whether you are a trader, investor or marketer can join these referral programs and earn a commission on it. It’s a win-win situation where start-ups have the opportunity to gain market share fast and market participants earn a passive income stream.
What is affiliate marketing?
In the first place, a short explanation of what affiliate marketing actually means:
“Affiliate marketing is the process of earning a commission by promoting other people’s (or company’s) products. You find a product you like, promote it to others and earn a piece of the profit for each sale that you make.”
In other words, affiliate marketing is about selling products you don’t have to own yourself. The idea is that you find a subject that you love(bitcoin, crypto) and start creating valuable content about it. Starting blogging about Bitcoin is a good example of a profitable business model.
Business model 2: E-commerce
Another interesting business opportunity comes with E-commerce. The business has gone through a revolution in the last few years. From Blockchain, and FinTech the world of international commerce is moving faster than ever. But, all of these emerging technologies focus around one powerful concept: E-commerce. Cryptocurrency and E-commerce are two online markets with a lot of similarities.
The business of the future is done from a mobile device or a computer. It happens at home and on the go. The shop is open 24 hours a day and customers are demanding more from their platforms than ever before. Also, the cryptocurrency markets are open 24 hours a day, on a global scale and accessible from any online device. Creative entrepreneurs can profit from this and combine the best out of both worlds. How to do this?
One perfect example of profitable E-commerce business is Amazon. With the introduction of Shopify, it’s now very easy for entrepreneurs to start an online business. Both platforms offer an interesting opportunity if you are a player in the cryptocurrency markets.
On Shopify you can create your online store in minutes, they already have over 600,000 stores using their platforms. They connect you to merchants and everything you will need to get started, all the hard work is already done for you. One of the interesting facts is that they also offer payments in cryptocurrency. In fact, big brother Amazon doesn’t allow this so there lies the opportunity!
Other simple business models in the cryptocurrency industry
The most common option nowadays is to start trading or investing in cryptocurrency. First of all, the markets are very volatile and investing into these markets comes with risk. However, if you like to take a little risk the rewards could be life-changing! Moreover, trading cryptocurrencies has gained a lot of popularity among professional stock traders and precious metal investors. One of the main advantages of trading cryptocurrencies are the low trading fees platforms like Binance or Coinbase are offering. Binance, for example, only charges 0.03% for every trade being done on the platform.
With the start of a new decade, new online opportunities arise. Moreover, fast growing industries like the crypto space are places to keep an eye on a investor or starting business owner. Also, online strategies like affiliate marketing and blogging are still very profitable within this very young industry.