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Author : My Dirty Little Bitcoin Secrets PDF EBook by Ofir Beigel
Physical Bitcoin products. A lot of Bitcoin lovers, their friends and family members are on the lookout for Bitcoin gifts and other sorts of merchandise. A few cool examples would be casascious coins, shirts and pins and practically anything else you can think about. Create your own currency – Altcoins. Last and definitely least (in my honest opinion) is the option to create your own cryptocurrency or Altcoin. After the success of Bitcoin, numerous other digital, peer-to-peer currencies have emerged to attempt to emulate Bitcoin’s success. Some also attempt to address perceived short-comings in Bitcoin and to provide competitive advantages. These alternative currencies are often referred to as “Altcoins”, mimicking the Bitcoin moniker, while also emphasizing that they are “alternatives” to Bitcoin itself. More on Altcoins here. I personally think that creating revenue from an Altcion is extremely hard. It took Bitcoin almost five years to become mainstream so just imagine how much work a new Altcoin will require. Also, most Altcoins produced today are just plain pump & dump scams where the owner creates a coin, generates a lot of buzz about it so the price will go up and then sells big amounts of it at a profit only to leave the coin’s supporters with nothing. At the time of writing this book, Bitcoin’s market cap is 14X larger than the next Altcoin in line11. I don’t see many advantages to creating a new form of coin whereas there are major disadvantages such as fierce competition, lack of a clear business model and basically - no real need.
11 http://www.coindesk.com/state-of-bitcoin-q1-2015-record-investment-buoys-ecosystem/. Chapter 2.3: Bitcoin B2B Market Opportunities. Now that we’ve covered most of the Bitcoin B2C market opportunities let’s move on to B2B market opportunities. The Bitcoin B2B space will usually be less crowded but also have fewer potential customers since in this case you’re selling to businesses and not to individuals. Bitcoin Infrastructure Services. Bitcoin infrastructure companies build security tools, develop protocol enhancements and provide APIs for other Bitcoin businesses to build on. Some good examples for infrastructure companies would be Blocktrail and Chain. These are extremely technological companies and while owners of such companies will benefit a lot from this book, I will not focus on this type of business, simply because I don’t have the technological know-how that’s relevant. Bitcoin infrastructure companies are one of the best B2B opportunity examples since they cater almost all of the Bitcoin businesses out there. Bitcoin Add-Ons For Websites. One of the most overlooked opportunities in the Bitcoin space is the website add-ons market. This involves anything thing from creating Bitcoin related WordPress themes, to different Bitcoin widgets such as price tickers, donation buttons or the latest Bitcoin news. For example, with all of the Bitcoin websites popping up each day, I can’t believe I could find only one Bitcoin WordPress theme. Other examples are the Bitcoin toolbox plugin (sold for $17) and the unique payment page which supports Bitcoin.
If you’re a designer you can also consider designing and licensing Bitcoin artwork on stock photo websites like iStockPhoto and Shutterstock. This way every time a website would like to license one of your photos on his website you’ll get paid. More on that here. Bitcoin Affiliate Programs. And now for the crown jewel. Bitcoin affiliate programs. In short, an affiliate program is a program that pays you money for bringing new customers to a business. So, for example, Coinbase has an affiliate program where they pay you $1 for each new depositing customer you bring on board. Through affiliate programs you basically become a marketing agent for a Bitcoin business and can now generate revenue without ever having a product. All you need to do is make sure you bring targeted customers to your vendor. Affiliate programs are amazing in the sense that they allow you to start creating revenue from day one, and they are super simple to get started. I’ve made most of my revenues online through affiliate programs and I believe that it’s the most overlooked Bitcoin business opportunity available today. The next chapter is going to talk all about Bitcoin affiliate programs and I’ll show you exactly how to get started with them. Chapter 2.4: Coming up with different ideas for a Bitcoin business. So up until know we’ve talked about the known businesses that are available for you. But what if you want to think about an idea that’s not on this list.
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