Should YOU Start a Crypto Company?
Talking about a bit of a different topic in the world of crypto today. With all of the millions of dollars slushing around in this space, should you consider starting a cryptocurrency company?
In short, I believe that from the perspective of the community as a whole, the answer is a clear yes. The more people building cool stuff in this space the better. But from your own perspective, you have to carefully weigh up the risks involved, and whether you'd be better off keeping your day job and investing your spare income into cryptocurrencies instead.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
Well, it might be a good idea if you really know what you are doing. I don't see me starting such a business but I could totally see you having your own coin.
Also, you can start the currency, make it somewhat popular and just sell it to the highest bidder, if your idea is good enough I don't see why people won't want to buy it and turn it even more profitable. Has anyone made money like this before and made good cash?
Not think about before. But its realy a profitable step. A cryptocurrency company comes with varied benefits like a solid protection and low fees.
Today it’s very easy to create a cryptocurency company in form of ICO or SMT. Yes, as you know SMT’s are comming in January and anyone can use their ideas. The only thing making difference is whether it’s profitable or not. That’s the reason at first you want to create a crypto company right? To do that, you definitely have to know what you are doing. I personally would rather invest in crypto. You may consider it, if you believe in yourself. So I say YES. Andreas believes in what his decided to do and just because it doesn’t work very well now, doesn’t mean it won’t in the future. As you said “He is a very smart guy”.
I have always had a entrepreneurial sense for business and surely think that this technology has great poten to develop. However, given my limited technical knowledge I prefer to allocate capital to these projects instead of starting a business. I think this is one of the great thingsbof Steem as it is creating an ecosystem to create contents and support projects in the blockchain.
Starting a crypto company is a profitable business venture to partake into, but you must be able to discover your niche and also to be a problem solver in that particular space for you to be relevant. The future belongs to blockchain technology and any serious investors that understand what he is doing is going to be successful
You have a very good base and potential to get into crypto business. You have an audience that trusts you and that’s what makes it much more easier. This is very important for any business, to be reliable and to have customers. You’ve already tested the water and I’ve seen many steemiens quitting their day job for crypto and not regretting it, even with today’s downturn. I’ve also seen some who failed as well.
I would like to start a company in the space, however I don't believe I have enough knowledge just yet to justify doing so. I want to ensure that I am well versed and practising what I preach before even thinking about opening a crypto-related company.
@louisthomas thanks for this. Strangely, am not like most people and have kept my day job (in the financial industry) while holding up a firm belief in crypto enough to tell others about it. We muat weigh in the pros and cons clearly enough
Thanks Louis! I would say that the amount of capital put in a business is the large part of the risk so by starting for example a media crypto company or by becoming an evangelist the downside is relatively contained. Also i don't believe you lost time covering crypto during this bear market, you are building your followers base which might be a better choice in the long run compared to simply putting some more money aside. All the best!
Starting a cryptocurrency company in Belarus is not different in any way from setting up businesses in other industries and requires choosing a structure and registering it with the Trade Register