Published In : Startup Ideas August 20, 2019
“Cryptocurrency”, the word that has defined a new era in the world is making its way to the top of the economy through every industry in the market – Yes or No? Well, before we answer this question that has become the topic of debate these days, let’s just start from the beginning, from the meaning of cryptocurrency.
For those who have not heard of Cryptocurrency before and are looking for some crazy yet powerful startup ideas, let us introduce you to the growing industry of digital currency. Cryptocurrency – Crypto + Currency holds the definition within. This is a form of digital currency that is not only managed by the advanced encryption techniques but is created through it as well. This technique of its creation and management is called “Cryptography”.
From the virtual concept of discussion, cryptocurrency, today has become the best business idea across the globe. This evolution of cryptocurrency from a mere topic in academics to becoming the fastest growing industry began with the introduction of Bitcoin in 2009. The fame, however, came later in April 2013 when it actually hit the $266 per bitcoin price after 10-fold in the next 2 months. Since that moment, the Cryptocurrency industry has become a trendy & fastest growing industry of business.
As once described by The Experts – Cryptocurrencies are nothing but limited registered entries in an on-line database that no one can vary without passing it through all specified conditions.
When we talk about cryptocurrencies, it is not just the digital currencies we are referring to. We are also referring to the technology behind it – Blockchain. Since the introduction of cryptocurrency, the economy of the world has been jumping up & down. What most of the people neglect to notice is the new opportunity that this industry has developed by introducing the new effective and precise technology.
It was said that cryptocurrency won’t last for long by many market analysts, yet here we stand, discussing the future of the industry & business opportunities it is stringing along. We, being an app development company can shed some light on different opportunities and ways the industry is burning its way through the mobile app market. Before proceeding with the cryptocurrency app ideas for your startup, let us stick to answering the question –
In just a few years, Cryptocurrency has tightened its grip to various industries. Be it banking sector or big firms, crypto is everywhere today. There are many reasons supporting its drastic growth. Contrary to the expectations, the vision of cryptocurrency has outweighed the thoughts of it failing.
Everyone in the world looks for financial security and inclusion. Regardless of the quick and reliable access to financial services, still there are 31% of adults lack any kind of financial access. In the world where there is an abundance of every financial service, this percentage is quite devastating. Solving this problem a bit, the tech-savvies introduced the “Digital Wallet”.
After the introduction of these digital wallets, the account ownership rose from 12% to 21%. Thanks to the introduction of cryptocurrency, now there is an opportunity to potentially increase the speed and security of online transactions. While people were criticizing the crypto-industry, there, Bitcoin ATMs were introduced breaking through all the banking barriers. Through these ATMs, people are allowed to anonymously exchange fiat currencies for cryptocurrencies through a cell phone.
Most of the people who are planning to start their business in the cryptocurrency industry are little skeptical towards the security of it. Well! If you don’t feel insecure in this industry, you are being naive. Some predictions regarding this industry made by some renowned analysts might turn your head around regarding the future of cryptocurrency.
As per the latest analysis and surveys, gamers have always been encouraging the concept of digital currencies. It is not just cryptocurrency, they have always appreciated the basic concept of dodging fiat currency. With the growing esports industry and its legalization, blockchain technology will see an exceptional boom in the gaming industry.
There are many gaming companies that have tested the implementation of blockchain already. In fact, the news of Sony launching its first blockchain-based video game on PS-4 has already become a sensation among gamers.
Clearly, Cryptocurrency is the booming industry in which one can think of dipping his or her toes.
As per some of the experts, Stablecoins will take the crypto-industry to next innings. These remarkable blockchain-powered assets will not only bring stability in the market but, will also pump some confidence among the people with regards to crypto-industry.
For those who are not aware of Stablecoins, they are cryptocurrencies that revolve around the real-world assets known to and trusted by everyone like U.S.dollar. As per the experts, these coins will dominate the future by bringing in more comfort for retailers encouraging the, to accept crypt-payments without having second thoughts.
These statements from experts, analysts, and market predictors are enough to show that the crypto-industry is taking a turn towards success.
With that, we have established the fact that it is true to say that Cryptocurrency is the Teen Wolf of today’s economy that is going to eat the traditional norms in the near future as it grows. Based on these predictions and expectations, it won’t be a bad idea to plan your startup around it.
If you have a plan to launch an app in the Cryptocurrency industry but are not able to figure out the exact idea, below we are going to list some of the great cryptocurrency app ideas that have engraved their names in bold letters for their global success.
This is the category of mobile cryptocurrency app that allows the user to manage the crypto-currencies they own while enabling them to store these coins in wallets. This concept has become viral. There are many such apps in the market proving the success of this idea. A Few examples of this category of the app include – Jaxx, Coinomi, Free Wallet, and Coinbase.
The second category of apps in the cryptocurrency industry includes the applications allowing the users to view the real-time price of cryptocurrencies over different trading platforms. This type of apps holds its essence in the system of notifications and alerts. So, if you are looking for a Cryptocurrency app idea, the Tracking app is a good choice of business. Some of these apps include – Backfolio, Enjin, Crypto calc, Cryptotrax & Delta.
As per the latest survey, there are many successful trading apps that are designed around cryptocurrencies. These mobile applications allow the user to exchange or transfer the cryptocurrencies while managing the portfolio. Trading View, Bitfinex & CEX.io are few examples of these apps. This concept combines the portfolio app and trading app together.
These are the simple yet effective cryptocurrency app ideas for you. There is no doubt about the scope of the industry, making it one of the best startup ideas in the market. With the launch of the cryptocurrency app every now and then, do not waste time and contact us to pump life into your startup idea.
Above we have mentioned everything you might have a question about. Right from answering the question What is Cryptocurrency to the best cryptocurrency app ideas, we have tried to cover it all for you here. If you have any questions, feel free to ping us here & check out how much will this dream cost you.
Experiencing the journey with excitement, tackling the obstacles with the zeal to disrupt the vision of the world through her words is what defines the attitude of Vaishali Sonik. Vaishali a.k.a. Maggie took a turn from her Masters Journey in E.C.E to become an Internet influencer. Since 2014, she has been blending & molding her words to express the knowledge she has alongside learning herself at every step. She describes her profession as an Online Content Strategist & Writer, a way to learn something new at every step.