Paul McCarthy Cork Cryptocurrency Consultant, Cork

 

After examining all of the different ways to become a cryptocurrency entrepreneur and assessing the details and risks of each opportunity, I have decided the best option in my opinion. It's not something I'm going to do, but it seems like the best choice. Before we get to that, however, let's look at what all your options are. Then you can think about how you want to become a cryptocurrency entrepreneur, or if you would rather do something different. 

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You can simply purchase these currencies. That sounds like the easy way to get involved, but you're not really flexing your entrepreneurial muscles. Then there are people who own businesses or are about to start one. If that's you, then you can simply accept payments from people who want to use digital currencies for goods or services. That might be the best option if you fit into that category. Yet you would just be including cryptocurrencies in your business model, not necessarily flexing your entrepreneurial muscles. See http://PaulMcCarthy.io

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Paul McCarthy Cork Business Man

 

You could start a new cryptocurrency, but that is going to take a lot of work. You have to hope that it takes off and makes you a lot of money. While that may sound exciting, it might not be the best in terms of risk. You have other options, and one of them is becoming a miner. There are costs associated with the equipment and power used, but mining cryptocurrencies might be the best entrepreneurial opportunity. That is what I would think anyway. 

 

It sounds very interesting to become a miner. Think about the people that mine precious metals in real life. It's a much different ballgame mining digital currencies, or is it? It is in many ways, yes, but at the same time, it's not as different as you think. You're still mining, and many of the concepts are the same. Yet you are mining of course in the digital world. 

 

You are going to have to choose what you want to mine. You can mine more than one digital currency of course. Would that be best? Maybe you want to just start out mining Bitcoin? Would that be flexing your entrepreneurial muscles? What if you could start a mining operation, build it up further and then start selling contracts? You can certainly do that, but keep in mind that you're going to be competing with some big companies out there in terms of getting customers.

 

In other words, there are some large mining corporations out there already. Perhaps you could start with some of the smaller cryptocurrencies. Or you could just simply choose to attempt to sell contracts, yet settle for mining all the crypto-currencies for yourself if you don't end up getting many customers. It's really all how you want to build a business around the cryptocurrency opportunity. With digital currencies serving as money, there are all kinds of ways to go into business with crypto-currencies in mind. After learning all of that, what are your ideas for getting a business started?