Cryptocurrencies are evolving fast and entrepreneurs are looking to monetize different cryptocurrency startup business ideas in Germany.
From setting up a cryptocurrency exchange to managing virtual wallets or simply offering consultancy, opportunities abound in this business field. Germany welcomes companies in the blockchain or cryptocurrency business and investors looking to open a startup will also find that company formation in Germany is a straightforward process.
We invite you to watch the following video presenting several ideas for a cryptocurrency business:
Cryptocurrency startup ideas worth considering
Cryptocurrency businesses are not only based on mining a particular currency or developing a new one. They are a complex skeleton of tasks and related functions and investors have a series of opportunities for startup ideas that will integrate with an existing or a new cryptocurrency or blockchain company.
Below are just some startup ideas for investors who wish to open a German company and enter the cryptocurrency business:
Cryptocurrency trading: this is perhaps the most popular way to derive profits from cryptocurrencies. This involves a special cryptocurrency exchange, similar to a traditional stock exchange, or trading platform. The company in Germany can be involved in developing, designing and hosting the exchange platform.
Cryptocurrency wallet: companies can develop a wallet for cryptocurrencies, a software that will store the user’s private and public keys used to trade the crypto coins.
Mining business: companies in Germany can provide the solutions for the actual mining of cryptocurrencies. Because the demand is high, this can be a lucrative business idea.
Cryptocurrency and blockchain consulting: this is an opportunity to expand a business for entrepreneurs in Germany who have already acquired a high level of experience in dealing with cryptocurrency. Consultants can advise other startup investors on how to use blockchain into their business or how to explore one of the available opportunities for doing business with cryptocurrencies.
Starting a cryptocurrency business in Germany
Investors who wish to open a cryptocurrency startup in Germany can choose between one of the available types of companies. In most cases, cryptocurrency startups will operate as a small or medium-sized company. The German GmbH or the limited liability company is a popular business choice for this purpose, specifically because investors are only liable up to the amount they invest in the company. Consultants in the blockchain or cryptocurrency sector can open a sole proprietorship should they wish to run a simple business.
All companies need to have their articles of association notarized and the company needs to be registered with the Commercial Register. One of our German company formation agents can help you handle these procedures.
Contact us for more information on opening a business in Germany and the industry-specific requirements.
Marco Rössel is a Partner at Liesegang & Partner and an experienced Attorney at Law. He is specialized in commercial and corporate law and can help you open your company in Germany as fast as possible.
Call us now at +49 69 71 67 2 67 0to set up an appointment with our company formation experts in Germany. Alternatively you can incorporate your company without traveling to Germany.
As our client, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Germany.