Cryptocurrency Business Ideas in Germany
Cryptocurrency Business Ideas in GermanyUpdated on Wednesday 02nd May 2018
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Cryptocurrencies are one of the fastest growing business opportunities and they have had success by presenting a new concept where the currency is a virtual one, with no intermediaries or regulatory agencies.
The blockchain technology, the one behind the creation of Bitcoin and other such currencies, can be put to different uses by investors and even if they decide to only come down to the cryptocurrencies themselves, investors have a number of options.
Ways of conducting a cryptocurrency business
The experts at our German law firm summarize the main cryptocurrency business ideas in Germany in the following list.
- Trading companies: a trading company that specializes in cryptocurrencies is a common business idea. It is similar to the Stock Exchange, only that is trades solely with digital currencies.
- Digital wallet: providing the services for using and storing the acquired digital currency is a business idea employed by many entrepreneurs. These companies offer the wallet for cryptocurrencies, the software used to pay and make transactions with digital coins.
- The Bitcoin ATM: essentially the equivalent of the ATM, designed for cryptocurrencies like Bitcoin and others, it is a physical machine bought and set up by the investors.
- Cryptocurrency consulting: a business idea for those investors in Germany who have already acquired a certain level of experience in trading, buying and selling cryptocurrencies.
These ideas are just general guidelines and investors can conduct a market analysis before drawing up the business plan. The startup costs will vary from one type of business to the other. Our team of lawyers in Germany can help you with basic information about the associated costs.
Company formation in Germany
In order to start one of the cryptocurrency business ideas presented above, investors will need to open a company in Germany and observe not only the rules for the incorporation of the company but also those for business taxation, accounting, and reporting.
One of our attorneys in Germany can help you with detailed information about the requirements for this type of business.
Contact us for complete legal services in many of the major German cities like Berlin, Frankfurt of Munich.