My first work Cryptocurrency Business Ideas | Page 2

2. Blockchain powered Cross border payments app
Even today, making payments to friends and family abroad is expensive and would take days,
owing to middlemen (Banks, exchange agencies, etc) and settlement systems that were built to
make money at every stage of transaction. This would bloat up the cost of sending payments to
overseas. A Blockchain powered app that uses stellar’s XLM / Lumen tokens would speed up
the transaction by cutting off additional middlemen that slow down the process.
Payments made in the sender’s fiat currency (assuming it’s USD) 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 (behind the scenes the XLM is converted to their region’s fiat
currency and deposited to recipient’s bank account). 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.
3. Bitcoin borrowing / lending business
The lending and borrowing business thrives globally based on the growing needs and wants of
the consumers. It is estimated to go trifold as more and more millennials are looking for avenues
to make wise investments with less risks and high returns. As they are also one of the early
adopters of cryptocurrencies and offering them a way to multiply their crypto asset is lucrative.
Giving them a guaranteed return for a fixed period of time would woo investors who would want
to lend their crypto assets.
Using a 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. Your source of revenue would be partially through the investments you
make with these cryptocurrencies and partially through the interest that is being back by the
borrowers. If you’ve been in the lending and borrowing industry for a while and know it inside-
out, this would be your favorite among the trending cryptocurrency business ideas listed here. :)
4. Bitcoin wallet-as-a-service business
Next on our list of trending cryptocurrency business ideas is the Bitcoin Wallet-as-a-service. As
you know, cryptocurrency exchanges are extremely vulnerable to attacks and the keeping
cryptocurrencies in the exchange’s own wallet can be compared to a ticking time bomb waiting
to explode, the risk of losing cryptocurrencies is always high. Seasoned traders often shift the
cryptocurrencies to a secure wallet that is not operated by the exchange by the exchange to
safeguard it. Starting a Wallet-as-a-service platform would require you to securely store the
cryptocurrencies on behalf of the user. Additionally, if you can build the capability to send and
receive cryptocurrencies, it makes people’s lives easier. Integrating it with other businesses will
allow user to make cryptocurrency payments. You’d make money on every transaction done
through the wallet or charge them a subscription fee.
5. Blockchain crowdfunding business