Real Ways to Grow a Crypto Business: 4 Best Blockchain Business Ideas from Coinpaprika
Fresh blockchain business ideas are the main building blocks of a crypto business. Any blockchain company should follow the market trends to be up to date and fulfill the permanently increasing client needs.
A Company like Coinpaprika is a successful crypto research platform that has used outsourcing as a scalability tactic to improve users’ efficiency. The platform has utilized third-party resources to scale the crypto business within the past year. Coinpaprika’s CEO has made a long way to grow his Wallet “COINS ‘’ over time, he shared his expertise to empower crypto entrepreneurs to succeed in their crypto business according to the Mass Adoption movement.
It is important to consider the experience of your rivals to make fewer mistakes in the working process. The growth of Coinpaprika, from CoinPaprica’s CEO Radosław Wesołowski’s expert insides, is reliant on the decision to move the Coinpaprika Wallet “COINS‘’ node maintenance to outsource.
Outsourcing is a great way to speed up a working process and lift the company’s effectiveness. It is vital to make strategic decisions and choose the right service providers which will ensure scalability and efficiency in service delivery. The research on the competitors’ market gives useful insights to significantly impact the growth.
The growth of any crypto business today heavily relies on its ability to:
- Minimize operational costs.
- Ensure its users of maximum security of digital assets.
- Prove credibility through partnering with trusted industry players.
- Offering seamless services with minimal downtime and affordable rates.
- User-friendly interfaces that are easy to learn and use.
Below are some useful cryptocurrency business ideas to scale a crypto business that involves transaction processing.
1. Cut down on operational costs
For any crypto business to succeed, the leaders must ensure that the operational costs are sustainable, and provide a financially healthy company. Coinpaprika’s CEO mentions that as a company’s leader, he is responsible for overseeing the overall direction and strategy. Any business leader must consider the company’s financial well-being by cutting unnecessary costs without compromising the services provided.
What to consider to minimize the operational costs:
- Calculate what tasks take up most of the company’s budget.
- Consider what team members do not have much task delivery.
- Check what services the company is paying for.
After the proper company’s audition, it is time to find out what duty is logical to transfer on the outsourcing.
As insider information, Coinpaprica has shared its experience of using third-party services like NOWNodes to host node maintenance. “This decision contributes significantly to reducing operational costs, such as keeping up the DevOps Engineers team to manage servers 24 hours 7 days a week. Also, the servers themselves could become very costly” says the CEO Radosław Wesołowski.
2. Invest in Sales & Marketing
At Coinpaprika, the CEO leverages the power of NOWNodes, to provide enhanced speeds and reliability of transactions within the wallet platform. The decision to involve third-party players provides the company’s top management ample time to concentrate on strategic topics like:
- Resources investment into a competent sales team.
- Running intensive marketing campaigns.
- Building profitable partnerships.
The decision to pay more attention to sales & marketing comes right after cutting the costs on what experts could do better. You should always look for ways to invest in actions, which intend for the company’s growth.
Cryptocurrency nodes are an essential aspect of any crypto business platform that handles transactions of digital assets. According to Coinpaprika’s CEO,” We began to host our crypto nodes on NOWNodes and have since released an improvement in service delivery and accelerated the business development process. The integration with NOWNodes has significantly cut our operational costs. We have invested in marketing and client acquisition, therefore our profit is increasing.``
For a platform that handles numerous trading transactions, it is crucial to have a seamless interface that allows users to access their digital assets efficiently around the clock. The elimination of in-house node development is one of the best blockchain business ideas that has led to the income growth of many crypto firms over the past year.
3. Integrate innovative third-party solutions
Collaborations are the future of business development. The crypto industry is one of the fastest growing industries today, and many businesses need help to keep up with the new development trends. As a result, the most successful firms have been highly specialized firms and focused on single tasks.
Specialization is only possible for niche-based organizations. Some crypto businesses may require a wide range of services to operate. They are leveraging the strengths of other companies to improve their service deliveries. As witnessed, many crypto businesses outsource different aspects of their operations to ensure proper service delivery and growth.
Below is the list of solutions, which could be transferred to outsourcing to concentrate on the strategic activities:
- App development.
- Secure storage of digital assets.
- Smart contract development.
- Node maintenance.
- Financial audition.
Coinpaprika’s CEO has integrated a node provider service NOWNodes in their Wallet “COINS ‘’. “Today our transactions go through the node’s hosting service via an API key and private endpoints. In case of the hacker’s attacks or node failure, the hosting service protects and fixes the appeared issue during the time settled in SLA. SLA is a major characteristic for us, where most of the features which service could offer are mentioned, such as response time, quality, availability, etc.” says Wallet’s CEO.
4. Ensure reliability and security of clients’ digital assets
Considering the latest taints in crypto, new companies must assure users that their digital assets are safe and well-guarded. Today, many blockchain businesses must seriously consider digital assets’ security.
A partnership with some industry professionals makes a significant impact on the overall influence of the company as well as the user experience. Many crypto enthusiasts are categorically keen on the security levels provided by a company or service they intend to use.
As Coinpaprika’s CEO mentioned in an interview, “The integration with NowNodes has had a huge impact on the user experience on Coinpaprika Wallet. By offering faster and more reliable transaction processing, we have improved the overall satisfaction of our users and enhanced their trading and investing activities. Additionally, the enhanced security provided by NOWNodes has given our users peace of mind, knowing that their digital assets are being properly protected at all times.”
Here is the list of the features to consider when choosing a reliable node provider:
- 24/7 hour support.
- Alert team of DevOps Engineers to handle failures all the time.
- SLA (Service Level Agreement)
In order to achieve success, business leaders must consider a variety of techniques. Outsourcing is one of the popular routes for most crypto businesses. Ideally, maintaining node development in-house is extremely inefficient.
According to CoinPaprika’s CEO, such intensive tasks are better off outsourced to allow blockchain businesses to focus on company growth through marketing and other logistics. Smart crypto business owners looking to scale ought to find ways to minimize operation costs, integrate third-party solutions, and ensure reliability.