9 Cryptocurrency Business Success Stories [2024]
Curious about tapping into the digital gold rush? Consider starting a cryptocurrency business. This venture involves engaging with digital currencies like Bitcoin, Ethereum, and emerging altcoins.
You’ll be diving into a world that blends finance and technology, offering services like crypto trading, mining, or developing blockchain-based applications. It’s an industry ripe with potential, but it demands a firm grasp of market trends and a willingness to stay up-to-date with regulatory changes.
Imagine harnessing the power of the blockchain to offer secure, transparent financial solutions. There’s considerable opportunity for innovation, whether it's launching your own token or building a crypto exchange platform. Given that the field is still evolving, there's room for newcomers to carve out a niche and make a significant impact.
Starting a cryptocurrency business requires tech-savvy, strategic thinking, and resilience. Although challenging, it's a venture that could place you at the forefront of a financial revolution.
In this list, you'll find real-world cryptocurrency business success stories and very profitable examples of starting a cryptocurrency business that makes money.
1. Finvault ($2.64M/year)
Punit Thakker, the CEO and co-founder of Finvault, came up with the idea for the digital wallet after recognizing the need to bridge the gap between traditional finance and decentralized finance (DeFi). With a background in fintech and cybersecurity, Punit and his co-founder Christian Papathanasiou aim to create an equitable financial ecosystem by providing a platform that allows users to manage all their bank accounts and crypto in one place. They have built a skilled team of developers and designers to bring their idea to life and are preparing for a phased launch into the UK and European markets.
How much money it makes: $2.64M/year
How much did it cost to start: $700K
How many people on the team: 13
Finvault co-founder Punit Thakker discusses the digital wallet's mission to financially connect users worldwide by providing one platform to manage all bank and crypto accounts; the platform is due to launch with initial features, including a crypto exchange, and is projected to achieve a customer acquisition cost of $10.75 and lifetime value of $4,800 based on a two-year lifecycle assumption.
2. The Milk Road ($1.5M/year)
Shaan Puri and Ben Levy were friends. While working on Shaan’s brand, they delved deep into the crypto ecosystem. Since they were talented writers, they decided to turn their hobby and interests into a full-time gig.
Shaan's Tweet explaining how they started Milk Road
How much money it makes: $1.5M/year
How much did it cost to start: $2K
How many people on the team: 1
Discover how Shaan Puri grew The Milk Road crypto newsletter from a Google Doc to 250,000 subscribers in just 10 months, ultimately selling it to Bitfo for an eight-figure sum.
3. SimpleSwap.io ($600K/year)
Two crypto enthusiasts with experience in the field of cryptocurrency saw the need for a simple and convenient crypto exchange. They launched SimpleSwap with an MVP after a week, attracting their first customers through social media and forums. With over 200,000 monthly active users and a strong support team, SimpleSwap continues to grow and aims to offer a full range of cryptocurrency services in the future.
How much money it makes: $600K/year
How much did it cost to start: $0
How many people on the team: 10
SimpleSwap, a user-friendly and reliable service for cryptocurrency exchanges, attracts over 200,000 monthly active users with an average monthly revenue of $50,000 by offering a simple and convenient exchange process and superior customer support.
4. HollaEx ($420K/year)
Adrian, the co-founder of HollaEx, came up with the idea for his open-source crypto software startup in the early days of crypto around 2016. Starting with an app that connected bitcoin enthusiasts, the focus shifted to exchange technology as the industry grew. HollaEx has now evolved into a general-purpose crypto service, providing a white-label exchange software that allows businesses to enter the crypto world easily.
How much money it makes: $420K/year
How much did it cost to start: $10K
How many people on the team: 13
HollaEx, an open-source crypto software startup, evolved into a general-purpose crypto service and created a white-label exchange software with a one-day launch, resulting in a revenue of $420k per year as of 2021, with a focus on exchange technology and tackling key crypto infrastructure solutions like wallet tech, exchange hosting, and white-label services.
5. Coinpanda ($420K/year)
Eivind Semb, the founder of Coinpanda, came up with the idea for his business after struggling to calculate and report his own cryptocurrency taxes. Realizing that there were not many great products on the market, he saw an opportunity to create a user-friendly solution. Despite having no experience in software development, he hired remote developers and spent several months designing and prototyping the product before launching.
How much money it makes: $420K/year
How many people on the team: 5
Coinpanda is a cryptocurrency tax solution for traders and investors, offering a free portfolio tracker in addition to a tax solution that can calculate taxes and capital gains for over 7,000 cryptocurrencies and is integrated with over 100 exchanges, blockchains, and services, generating $85,000 in revenue with a 75% profit margin in Q1.
6. CBlocks.io ($384K/year)
Auston Bunsen, along with his co-founders PK Banks and Mario Aguayo, came up with the idea for CBlocks.io after realizing that many people found it difficult to get started with cryptocurrency. They decided to sell wallets preloaded with random cryptos, and within the first 30 days of launching, they made an impressive $32,000. The business has been featured in top publications like Forbes and TheNextWeb, and they are now planning to release updates to their hardware and software to make crypto more accessible for normal people.
How much money it makes: $384K/year
How many people on the team: 0
CBlocks is a cryptocurrency startup that generates random wallets of the top 100 cryptocurrencies, funds them, and ships them on a USB drive alongside software to manage them, with $32k made in the first 30 days and almost $3k on their second day from being featured in TheNextWeb, Forbes, The Outline & LifeHacker all within their first 3 weeks.
7. BitcoinVN ($300K/year)
Dominik, the founder of Vietnam's first Bitcoin exchange, came up with the idea after learning about Bitcoin in late 2012. He saw the potential for a Bitcoin exchange service in Vietnam, where access to Bitcoin was limited, and took part in launching Frankfurt's original Bitcoin community. Despite facing regulatory challenges and financial constraints, Dominik and his team bootstrapped the business and grew it into a successful venture, now offering a range of related products and services.
How much money it makes: $300K/year
How much did it cost to start: $5K
How many people on the team: 10
BitcoinVN built a successful Bitcoin exchange service in Vietnam, expanding to related products and services such as a crypto remittance platform, OTC desk, trading platform, and Bitcoin ATMs, with a founding team that took three years to receive income and initially invested $5,000.
8. Divly ($120K/year)
Carl, one of the co-founders of Divly, came up with the idea for the business after experiencing the difficulties of declaring taxes on his cryptocurrency gains. He saw that the existing solutions were heavily focused on the US and saw an opportunity to create a more practical and localized solution. After building a beta version in just two months, they launched in time for the Swedish tax season and used content marketing, partnerships, and an affiliate program to attract and retain customers.
How much money it makes: $120K/year
How many people on the team: 3
Divly is a startup that helps customers calculate and pay taxes on their cryptocurrency gains, with a revenue of $50k since launching and a plan to expand into multiple markets for 2023.
9. BearTax ($44.4K/year)
Vamshi Vangapally, CEO and Co-founder of BearTax, came up with the idea for his cryptocurrency tax software when he received an email from GDAX informing him that his trades would be reported to the IRS. After searching for a solution and finding expensive and unreliable options, Vamshi and his team built BearTax to help cryptocurrency traders calculate their taxes accurately and efficiently. Since its launch in 2018, BearTax has become one of the top cryptocurrency tax software in multiple countries, serving over 10,000 users worldwide.
How much money it makes: $44.4K/year
How many people on the team: 7
BearTax is a cryptocurrency tax software that helps traders consolidate trades and calculate taxes without heavy lifting, serving over 10,000 users across the globe in the US, Australia, Canada and India.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
