Software Solutions for Launching a Crypto Startup

By Melissa Burns

There’s no doubt about the fact the crypto startups face a tremendous share of challenges.

According to some estimates, as many as 90% of crypto startups fail. In fact, according to CAICT (China Academy of Information and Communications Technology), the average lifespan of a crypto startup is only 1.22 years.

With that in mind, you should make sure that you do all the research you can to find all the possible tools that can help you make a success of your venture.

Solutions for Developers

If you still need to develop your own crypto from scratch, or you’re not committed to a framework yet, then these might be helpful. In line with lean startups that want to minimize cost, we favored open-source projects but from reputable industry sources.

HyperLedger

The open-source HyperLedger Project has been making major waves in the crypto industry. As an open-source, collaborative project, it aims to give groups of developers (and the general blockchain community) a comprehensive, free platform to build their own cryptocurrency frameworks.

Coinbase API

As one of the most recognizable crypto exchanges, specializing in fiat to crypto conversions, Coinbase needs no introduction. Less well known is its incredibly powerful and versatile API, allowing developers to build Bitcoin-based apps or integrate Bitcoin into existing applications. It can be used to create anything from Bitcoin wallets to marketplaces.

Truffle

If Ethereum’s more your kind of thing, then you should check out Truffle, a hyper-polished development framework focussed on Smart Contracts. It makes developing, testing, and deploying Smart Contracts easy with a complete suite of tools. It’s also open source but is accompanied with fantastic documentation and even paid online courses.

Marketing Solutions

Marketing seems to be largely ignored by many in the crypto industry. Even today, it feels like many projects or ventures spread faster by word of mouth than by their own efforts. However, with tens of thousands of crypto startups, can you afford to overlook the opportunity to get more exposure?

Canva

Canva is an incredible tool to help you create your own marketing material. You don’t need to be an experienced designer to use the interface. Free (and paid) templates and elements also mean you don’t need to be particularly creative either.

Autopilot

As the name suggests, this is a great tool to automate your first interactions with new leads. You can map out user journeys that will then automatically kick in when you get new signups by providing users with personalized content. It also integrates with and functions across almost all the most popular apps.

Content Marketing – WordPress, HubSpot, Medium

With cryptos technical nature, it’s perhaps understandable that content marketing gets overlooked. However, there are a few important reasons why you should implement it:

1. It’s one of the most effective ways of achieving the three goals of marketing for crypto startups: distinguishing yourself, getting exposure, and building a following.
2. Content doesn’t just mean writing articles. It includes video, infographics, social media, etc.

A CMS like WordPress can be an easy way to implement a blog, either as part of your company website or on its own. If you don’t want to manage your own blog, platforms like HubSpot and Medium are great for posting and managing your content without the hassle. We highly recommend Medium as it has become the go-to place for expert incites in niche industries.

Solutions for Collaboration and Organization

Even as a small startup, the importance of open communication and organizational guidance can’t be overstated. As your company grows and becomes more complex, it will also become harder and harder to implement a solution. It pays to implement good practices from the beginning to scale with your company and foster a culture of collaboration.

Asana

There is no shortage of work management tools to pick from at the moment. However, Asana is undoubtedly one of the best. It provides incredibly rich and robust tools to set up brainstorming sessions, project development plans, timelines, meeting agendas, and more. While it can only be used online on a computer, there are Android and iOS apps to sync across devices.

Slack

The main differentiator between these two productivity giants is that Slack has a more chat-based approach. Slack is meant to ease communication in a company by allowing you to create channels within your organization for teams or individuals to stay in touch. However, you can also integrate Google Drive and various other productivity apps to give it more utility, Asana being one of them.

Bonus: KYC, AML, and CFT Solutions

Governments are upping their scrutiny on the crypto industry when it comes to regulatory compliance. KYC (Know Your Customer), AML (Anti-Money Laundering), and CFT (Combating the Financing of Terrorism) measures are already required by all traditional financial institutions, and compliance with them is becoming increasingly important for crypto exchanges and other businesses too.

Crypto-KYC

This is a complete KYC/AML software solution built specifically for crypto businesses. They are partnered with Thompson and Reuters and are a globally approved service. Their complex scanning and matching algorithms can be set up to manually or automatically screen new customers. Plus, they offer a relatively easy to use web portal using role-based workflows.

This is still a very new field. Crypto exchanges that deal in both fiat and cryptocurrencies are very much at the forefront. This article by Coin Telegraph shows to what lengths they sometimes go in order to be compliant.

The right tools already exist, it’s up to you to find them

In today’s fast-paced world, and in the crypto industry, in particular, you can’t waste time reinventing the wheel.

Startups already face so many challenges in terms of financing, time constraints, and manpower. Finding the right tools to supplement your business needs will help you keep down your overhead and do things you never thought possible on your own.

This is by no means an extensive list, but it should get you going in the right direction. Make sure to pick a solution that fits the hole you have in your business.

Author bio: Melissa Burns is a marketing consultant, who occasionally also provides workshops for start-ups and small businesses. Melissa writes about digital marketing and business innovation with the single goal of sharing her 6 years’ experience with other marketers.

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