4 tips for getting into crypto
Opinions expressed by Contractor the contributors are their own.
As the crypto market moves into its early to late maturity stage, digital assets are being embraced by a portion of the population (16% of Americans already had first-hand experience with them).
In addition to consumers, major brands such as Microsoft, Gucci and Burger King are joining thousands of merchants to accept digital asset payments. In addition to growing institutional adoption, VCs poured $14.67 billion into crypto startups in Q2 2022 alone.
Taking all of this into consideration, I expect every company to be a crypto business to some extent by 2035.
Now is the perfect time to enter the market. And in this article, I want to share some tips with businesses and entrepreneurs who want to do it successfully.
Related: How to reduce risk in the crypto market
Tip 1: Don’t be afraid; the crypto market is not that complicated
When you first encounter industry jargon and acronyms like DeFi, CeFi and DAO, you might feel like you don’t understand a single thing about digital assets. However, a couple of weeks is enough to learn the basics of the market and how the underlying technology works.
Although there are tons of content you can use to learn, the crypto market is deeply integrated into the mainstream economy. Therefore, it becomes a little closer to life for many.
To summarize: no matter how new, complex or scary it may seem at first, it should not stop you from entering the market. Crypto is not that complicated.
Tip 2: Find a niche that solves a pain point in the market
When first joining the industry, many entrepreneurs believe that simply launching a token with no benefit beyond speculation is enough to succeed. As you may have already guessed, this strategy will not work in crypto. The same applies to businesses that copy and paste popular solutions from other industries into the digital asset space. If there is no real value behind these applications, people will not use them.
Not surprisingly, the most significant number of huge multi-billion dollar projects came from this industry and provided a solution to one of the pain points of the crypto market. They created real value for users of digital assets.
Related: 5 Things You Should Know Before Investing in Cryptocurrency
Tip 3: Forget conventional crypto market strategies
After you’ve built an excellent product, don’t consider using marketing strategies that have worked elsewhere, such as launching an ad on Google or Facebook. If your solution provides real value, you don’t need to advertise it on the crypto market. The community is so proactive that members will quickly notice and start using it.
After launching your product, forget about ads and find a few evangelists to attract an audience. These people love what you’ve made and are willing to tell everyone how amazing it is. Partnerships, community development, social media management toolbox, bold and transparent PR and Twitter are likely the marketing tools your startup needs to make this work.
Tip 4: Trust no one but yourself
On the one hand, it’s safe to say that probably the world’s smartest people have come here to build amazing products.
But at the same time, the market has attracted a lot of bad actors who are constantly trying to break things, and that’s why you can’t trust anyone here.
For these reasons, you must consider the product’s security and revisions. You should remember that this market has tons of promising talent. But it’s also a room where fraudsters try to make a killing by exploiting these brains.
Your entry into a booming market
No matter how complicated and dangerous it seems, the crypto market is a promising place with ridiculous opportunities for newcomers. If you overcome your fears, pay due attention to project safety, build a product that creates real value, and use the right marketing strategies, you are likely to succeed in your endeavor.
And you won’t regret your decision. We are in the midst of the most significant economic development of the last 100 years, where a new unit of value was created alongside money. The industry moves quickly; crypto’s technologies and possibilities are limitless.
This market has so much room to grow that today’s 200-300 million crypto users and tens of thousands of industrial projects feel like nothing compared to what we will have the chance to observe in the next 10-15 years.
Related: Crypto Wallet Hustle – What You Need to Know
