Starting and managing any crypto business should not be haphazard – its proper organization maximizes the chances of profitability. The better arrangement you ensure – the higher profitability is possible.
This organization needs proper coverage of many nuances – starting from the preliminary market research and up to reporting. One of the most complicated or even tricky things is a license for cryptocurrency https://prifinance.com/en/cryptocurrency-license/ which makes the entire business legal. Of course, there are many other important aspects you have to consider while becoming an owner of a crypto project and managing it for high profitability. Prifinance experts are ready to share with you the information about the most important steps to make to maximize the chances of profitability for your startup.
Steps to Make to Become an Owner of a Successful Crypto Startup
If you wish to found and bring your crypto project to success, especially if the story comes to a crypto exchange where stricter legal rules are applied, these mandatory steps should be made:
- evaluating the commercial background of your business case, including collecting the information about the origin of the financial resources you are going to dispose to start a cryptocurrency business;
- investigating the market you are going to enter, including the potential customers and major competitors;
- reviewing registration, regulatory, licensing, banking, and other applicable laws;
- creating your brand, including what kind of services you are going to offer, to whom, and at what costs;
- developing short-term and long-term plans for your crypto startup;
- incorporating a separate legal entity;
- hiring the staff members, including a compliance officer;
- developing and implementing the internal policies for an upcoming crypto project, including AML/CTF, KYC, tracking, reporting, etc.;
- arranging the IT facilities and cooperation with IT providers to cover effectively the expected scope of transactions with crypto assets;
- opening bank and/or EMI accounts to deal with the most widespread fiat currencies;
- applying for a license and taking measures to keep a cryptolicense active;
- ensuring the ongoing monitoring of all the deals closed through your startup.
How Prifinance Experts May Encourage Running Your Crypto Business
If you have clearly defined setting a crypto business as your primary objective, Prifinance experts are prepared to encourage the realization of this business aim, among others through these legal measures:
- evaluating the details of your business background, including determining and confirming the origin of the funds you intend to use for your crypto startup;
- collecting and arranging the information that is compulsory for submission to a regulator in an appropriate form;
- determining the most suitable legal form for your perspective crypto business;
- composing and formalizing all the documents, including statutory documents and internal policies;
- filling precisely all the required registration forms and other documents needed to register a crypto company;
- helping with searching and hiring employees with the exact qualifications to act as the company’s officers, including a compliance manager;
- assisting with registering bank and/or EMI accounts;
- covering all the cryptolicensing issues;
- supporting the handling of all other issues that may appear during the subsequent operation of your crypto startup.
We encourage you to apply individually and share with us the details of your business case to develop personalized business registration solutions. Prifinance lawyers have already supported 200+ crypto projects successfully. So, we are experienced and prepared to introduce your crypto project in the market also. Increase the chances of your crypto business being profitable with professionals.
