The Crypto Comeback: How Businesses are Cashing in on the Digital Goldrush

 

The
cryptocurrency
market
has
enjoyed
a
bullish
last
few
months.

Bitcoin,
the
first
and
most
well-known
cryptocurrency,
has
captured
headlines
with
its



sustained
price
rises.

But
cryptocurrencies
are
more
than
just
investments
for
businesses,
they’re
also
opening
doors
for
innovative
new
revenue
streams.

This
article
explores
the
various
ways
businesses
are
profiting
from
the
crypto
revolution
beyond
just
trading,
from
the
growing
world
of
decentralized
finance
(DeFi)
to
crypto
fundraising.

Ready?
Let’s
find
out
some
more
about
money-making
crypto
methods.

Crypto
fundraising

ICOs
(Initial
Coin
Offerings)
are
fundraising
mechanisms
that
allow
businesses
to
raise
capital
directly
from
their
customer
base,
which
they
sometimes
term
‘communities’.

They
build
these
communities
from
social
media
campaigns
in
which
they
offer
perks
for
people
who
subscribe
to
their
product
or
service,
otherwise
known
as
‘lead
magnets’.
Then,
via
email
sequences,
they
upsell
further
services
to
their
army
of
followers,
with
ICOs
been
one
of
the
latest
in
the
digital
world.

Successful
ICOs
create
a
win-win
situation.
Customer
gain
access
to
potentially
groundbreaking
ventures,
while
startups
acquire
the
resources
needed
to
scale
their
operations.

 

The
crypto
community
becomes
invested
in
brand’s
success:
the
more
they
grow,
the
more
their
followers
benefit
as



brand
ambassadors

and
become
early
adopters
of
the
product
or
service
in
question.

 

Links
to
cryptocurrency
exchanges

Cryptocurrency
exchanges
act
as
marketplaces
where
individuals
and
businesses
can
buy,
sell,
and
trade
cryptocurrencies.

These
platforms
make
money
by
charging





transaction
fees
for
each
trade
executed.
As
the
crypto
market
continues
to
grow,
so
too
does
the
volume
of
transactions,
leading
to
substantial
revenue
for
popular
exchanges
like
Coinbase
and
Binance.

Many
businesses
use
affiliate
links
to
these
exchanges
or
accept
payments
from
them.
A



cryptocurrency
casino,
for
example,
will
accept
deposits
from
players
in
Bitcoin
or
altcoins,
so
they
don’t
need
to
touch
their
fiat
balance.

The
rise
of
crypto
debit
cards
is
another
recent
development
that
helps
bridge
the
gap
between
crypto
and
traditional
finance.
With
them,
users
can
spend
their
digital
funds
at
a
crypto-friendly
merchant.

Both
accepting
crypto
payments
and
building
affiliate
links
allow
companies
to
tap
into
the
growing
market
of
crypto
users
and
expand
their
customer
base.

 

Crypto
rewards

Some
companies
don’t
just
accept
crypto
payments
but
transform
themselves
into
a
crypto
haven
full
of
digital
rewards
for
their
loyal
customers.

These
tend
to
include
discounts
or
exclusive
product
lines
specifically
for
crypto
users:
tapping
into
a
rapidly
growing
digital
demographic.
Catering
to
this
audience
helps
brands
position
themselves
as
innovative
and
forward-thinking.

Major
examples
include
Starbucks,
which
in
2022



launched
its
NFT
rewards
program

Odyssey
for
frequent
customers.
This
allowed
its
best
supporters
to
access
exclusive
tokens
that
they
could
exchange
or
sell
to
other
customers,
or
simply
keep
to
themselves
as
a
treasured
memento.

Like
ICOs,
this
type
of
program
encourages
repeat
business
and
fosters
a
sense
of
community
among
crypto-using
customers
–
a
win-win
for
all
concerned!

 

Create
their
own
digital
currency

NFTs
are
one
thing,
but
some
businesses
are
taking
it
a
step
further
and
launching
their
own
cryptocurrencies.

PayPal
is
a
prominent
recent
example,
taking
a
step
into
the
digital
currency
market
with
its
own
stablecoin



launched
in
2023.
Unlike
typical
cryptos,
stablecoins
are
pegged
by
a





fiat
currency,
such
as
the
US
dollar,
which
help
them
maintain
a
relatively
consistent
price.

The
big
draw
for
PayPal
is
that
the
more
people
use
their
stablecoin,
the
more
transactions
they
attract
to
their
ecosystem,
creating
more
fees.

If
a
success,
this
type
of
offering
will
become
attractive
for
smaller
brands
to
aim
for
over
the
next
few
years.

 

The
future
of
crypto
and
business

The
future
of
cryptocurrency
and
its
impact
on
businesses
is
yet
to
be
fully
measured.
As
the
technology
matures,
we
will
see
even
more
innovative
ways
for
businesses
to
use
crypto
for
their
advantage.

Here
are
some
potential
future
trends
to
look
out
for.

Decentralized
finance
(DeFi)

DeFi
aims
to
build
a
financial
system
without
intermediaries
like
banks.
This
could
change
traditional
financial
services
and
create
new
opportunities
for
businesses
in
the
crypto
space.

Metaverse
integration

The
metaverse
is
a
virtual
reality
space
where
users
can
interact
and
conduct
transactions.
This
might
lead
to
further
integration
of
cryptocurrencies
as
a
means
of
payment
within
these
virtual
worlds.

Despite
the
controversy
around
it,
cryptocurrency
continues
to
be
a
growing
part
of
the
business
world.
As
more
and
more
brands
adopt
it,
expect
to
see
its
impact
on
your
day-to-day
life
grow
with
each
passing
year
as
we
move
fully
into
the
digital
age.

 

Image
source:
Shutterstock

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