Elly Financial Technologies Limited
54 Poland Street, London, W1F 7NJ
54 Poland Street, London, W1F 7NJ
The idea of a digital currency was first conceived in 1983 by cryptographer David Chaum. He called it Ecash. The next significant step was only in 1995 though. This was with the creation of Digicash, the first electronic payment mechanism that was based on software and encrypted keys.
It was to be another very long wait until the next significant development. In 2009, Satoshi Nakamoto mined the first Bitcoins (BTC). The intention was to formulate a currency that is owned and controlled by those who have possession of it. It is not regulated by any government and it knows no borders. It is not tied to any commodity and is not physical. It exists only digitally and is worth whatever someone is willing to pay for it.
The market reaction to Bitcoin was almost non-existent when it was first launched. It had no real cash value until 2010. In May of that year the first transaction took place when 10.000 BTC were offered as payment for two pizzas. At around the same time, another person failed to find a buyer for 10,000 BTC being offered for sale at $50. Cryptocurrency business opportunities would not even have been remotely considered. Although very volatile, cryptocurrencies have gradually been gaining traction.
This is borne out by the fact that over 1,000 cryptocurrencies exist today. And cryptocurrency business opportunities abound. However, this is not for the faint-hearted. BTC has had several spectacular peaks and troughs. The trend is mirrored by most of the other cryptocurrencies too, albeit not with the same violent movements.
The lure of cryptocurrencies is not going away any time soon. If you really do have the courage to dabble in them though, let's have a look at some of the cryptocurrency business opportunities that are available to the individual investor.
Cryptocurrency business opportunities are not just limited to individuals. Businesses can also get a slice of the action. In fact. It would probably be sensible for every business owner to take a good look at their model and where cryptocurrencies can fit in. Here are some of the ways businesses can get into the market.
We believe this is a fairly simple answer. Yes, cryptocurrencies are here to stay. With more and more business being conducted digitally, the hold that conventional currencies used to have, is weakening fast.
Cryptocurrencies are not regulated or tied to anything tangible. This makes them highly tradable as long as there is a willing buyer and willing seller. And day by day there are more of both. Crypto is becoming more credible as more major companies begin to accept them as payment or just endorse them one way or another.
This can be as much of a challenge as it is an opportunity. Since time immemorial there have been people who have spotted an opportunity early on and made lots of money. And equally, there are millions who waited too long and lost out. Cryptocurrency business opportunities are plentiful now. But don’t leave it too late.
Enlist the help of a company like Elly. With its single device, multiple payment method platform, Elly is well positioned to support any business looking to get in on the cryptocurrency action. Elly supports a variety of cryptocurrencies but can credit the funds to the business in local currency. Funds are transferred immediately, thereby removing the price volatility risk from the vendor. Using Near Field Communication technology, payment processing can be contactless. With dynamic encryption, transactions are also completely secure. Having everything on a single hand-held device means that the solution is truly portable. No business on the go need ever risk losing a sale again. This is the power of Elly.