On Linkedin I love watching, how many people define themselves as “cryptocurrency entrepreneurs”.
But, who really is a cryptocurrency entrepreneur?
Well, we must define at first understand who an entrepreneur is.
An entrepreneur is someone that transforms an idea into something productive for him (or her). An entrepreneur is not paid in terms of “hours of working”, but he is paid by results.
I smile when on Linkedin I see some people that I know that have their current status on “Cryptocurrency entrepreneur” and not much time ago they faced difficulties in buying some cryptocurrencies on Binance.
On Binance! (lol)
We are not talking about a secondary DEX, with arguable accessibility of its Graphic User Interface... We are talking of Binance.
Hey, I am not saying that a cryptocurrency entrepreneur is a sort of Superman that was born with knowledge in his right hand and Money Management in the left hand. I am just saying that a Dollar Cost Averaging is not enough for being considered a cryptocurrency entrepreneur. Neither a Smart investor.
So who is a Cryptocurrency Entrepreneur?
In this article I am going to share with you some ideas among which some of them I am already carrying on.
This article is intended to create a sane debate about all the possibilities that cryptocurrencies offer.
And in case someone is trying to make crypto-related business a way of earning money well, we will seen (and in comments too, I hope), there are several ways.
Courses
I think that the easiest, and the entry level crypto-entrepreneurship is selling courses. You should identify a specific field, you should consolidate you knowledge on it and then you can produce a course. To sell it, there are several ways. You can have your own platform and eventually host other courses-authors or you can place it on sale on Udemy and other courses-selling platforms. They are free and they take just a percentage on the net sold volume. This would be a highly liquid business.
Trading
Another option is Trading. Yes, Trading. It is definitely not a game, it’s a way of earning money, so it can be considered an entrepreneurial activity. You have to define your starting budget, the discipline to operate with it and the patterns when you are going to enter into the market.
And what about the creation of a trading system? Once created and consolidated a specific knowledge, you can leverage it up with a Mirror Trading system. But you see: at first you must be able to dominate trading skills.
Business
Business creation and business structuring. In the phase of business creation you need an idea and you need to develop it. This phase can be far away from a liquid business, especially if you have some structures to purchase and or professionals to pay to make your business start-up. When we speak of “Business structuring”, we refer to the phase where the idea is already defined, and often the idea is from someone else. In the case that the idea is not your own, you may save money in terms of the business start-up, bit of course you will not have access to the full revenue.
What kind of business creation? Blockchain consultancy, trading platform, payment processors, schools for cryptocurrency, crypto-accountancy systems, content creation and many more.
And what about business structuring? Often, in this case the ideas come from third parties. In cryptocurrency we may face different start-up ideas (blockchain application and more like just mentioned). And what about tokenization?
Tokenization requires some knowledge on the business side since tokenization of an empty box is not advisable. Furthermore, experience on legal side and tokenomics is required. This two latter aspects may be quantified in terms of professional consulting, but some entrepreneurial experience would increase chances of success. Consultancy should always be oriented towards an optimized solution, not just telling the customer how to do with what he wants to do. Sometimes the customer should also be able to change his target upon proven difficulties in the original way.
Later on we also have the deployment of mining farm facilities. Here regulations, providers, customers must match a delicate equilibrium.
Let us know in the comments what you think and other ideas/input you can give to the community!