6 More Don’ts for Bitcoin Startups
CoinTelegraph once again reached out to a handful of crypto entrepreneurs regarding their experiences of starting a business in the cryptocurrency industry. In a follow-up to our previous article on “5 Don’ts for Bitcoin Startups,” here are the next six caveats that will help startups get off the ground in this volatile landscape. The most fundamental thing to consider when starting a business is to know whether your product or service is actually needed or whether it will be in demand sometime in the near future. This includes analyzing the market, knowing your target audience, and....
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True innovations are a serious problem for traditional financial institutions, but fintech and crypto startups have the solution. When banks finally come to improve their technology experience, they go no deeper than changing the front end. They’ll make a button blue instead of green or create rounded edges on buttons instead of square ones. They think in terms of their interfaces, not the back end. If a bank were to truly innovate its technology, it’d dig deeper into the back end and transform its legacy technical infrastructure, which has been the same for decades. Few today even know....
CoinTelegraph tapped into the experience of several startup founders to get an idea of things aspiring entrepreneurs should avoid when starting their own business in the cryptocurrency industry, which for many is still uncharted territory. Before big banks began taking a serious look at Bitcoin, some visionaries realized the potential of this new technology early in the game. Many have since started their own companies, such as CoinBase or BitPay, while others’ ventures fizzled out or fell victim to “wild west” conditions of this volatile space. So what are the most common mistakes that....
California-based accelerator 500 Startups has announced it will fund five bitcoin companies in its latest batch of startups with $100,000 each. The bitcoin startups are part of 500's Batch 9 group - a total of 30 companies building business ideas over a period of four months at the accelerator. Sean Percival, who runs the incubator for this batch, says the funding will allow the bitcoin startups to really focus on product: "$100,000 for these companies is going to go a long way. For some of them it actually provides them a year of runway, so they don't have to go raise money and they can....
Startups are the next hot commodity when it comes to investing in people – and projects – that could become the next Google, Facebook, Twitter, or Uber. However, all of those startups are in need of funding, and that money has to come from somewhere. Young startups based in the US can rejoice, as AngelList announced a new US$400m fund, backed by one of China’s largest private equity firms. The world of finance is an odd creature, as there are rumours circulating regarding China wanting to create a new global currency to replace the US Dollar. Yet at the same time, one of the country’s....
Boost VC has released new figures about its investments in startups focusing on bitcoin and the blockchain. The San Mateo incubator, which has pledged to invest in 100 industry startups through 2017, revealed in a Medium post this week that it has invested in 52 bitcoin and blockchain companies since its founding in 2012. According to figures provided to CoinDesk by Boost, bitcoin and blockchain startups have so far raised $52 million, compared to the $86 million across companies in all of its target sectors. The figures suggest bitcoin and blockchain startups have so far captured 60% of....