The Challenge of Starting a Cryptocurrency Business
Launching a venture in the cryptocurrency space isn’t just a walk in the park—it’s more like a treacherous hike in the fog. You need to navigate rocky terrains without taking a tumble into a legal pit. If you think starting a regular business is tough, try doing it among the wild west of digital currencies where Bitcoin’s reputation can send chills down your spine. Forget about establishing a tight grip on your potential client base without a robust marketing strategy!
Name Your Business Wisely
Name recognition is everything in the crypto game. With Bitcoin associated with less-than-savory dealings in its early days, many startups opt to steer clear of any name linking them to that infamous coin. As Kevin Rinta from Exmo mentioned, keeping your name simple yet detached from crypto jargon can help you reach a non-niche audience. No need to send potential users running back to their comfort zones! Perhaps something like “WoahWallet” could get their attention instead of “BitcoinBazaar.”
Jump into Social Networks
If your business doesn’t have social media presence, does it even exist? It’s like being the ghost at a party where everyone is chatting, dancing, and posting selfies. Engaging with users through channels like Twitter, Facebook, and Instagram is crucial. Ken Miller from Gem attests to its effectiveness with content that’s engaging—photos, videos, and replies to the community. So, if you haven’t posted any memes or quirky gifs lately, now’s the time to up your game!
Get Out and Network
There’s no substitute for face-to-face interaction. Regularly attending conferences, even if as a visitor instead of an exhibitor, can help you network with potential partners and clients. Gem, for instance, goes all out with their presence at events. Hosting your own gatherings could also help build your brand’s visibility. Who doesn’t want to sip coffee while discussing Bitcoin with enthusiasts? It’s a win-win!
Blog Your Way to Success
Running a well-maintained blog with insightful content may as well be the marketing fairy dust you need. A vibrant blog keeps your audience in the loop and helps with search engine visibility—how magical! Just remember, if you’re going to make promises in your posts, keep them or your reputation might take a nosedive faster than the price of a coin in a crash.
Embrace the Shift
The future looks bright for those willing to adapt. With Bitcoin transitioning from a “get-rich-quick” scheme to a real payment method, staying ahead means focusing on product development and strategic partnerships. Exmo is already on the path towards collaboration with banks and major retailers. Future-proof your business by being proactive rather than reactive.
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