Offlate, MLM or network marketing is garnering a lot of interest amongst budding entrepreneurs, working individuals and even homemakers. This is because this unique business model allows participants to work on their own schedule and often requires very little investment to startup. Income is earned either by selling products to your referrals or by recruiting new talent to expand the network size. Hence, the larger the size of the network, the greater the number of profits generated for the individual.
Some of the salient features of an MLM business is listed below:
- Participants are blessed with flexible working hours and do not have any location restriction.
- Startup costs are very low.
- Great avenue for individuals to earn passive income.
- Participants are offered support in terms of training material and mentorship. This helps them improve their skills and become successful marketers.
- Attractive bonuses for talented and hardworking individuals.
The advent of the internet, as well as innovations such as blockchain and cryptocurrencies, have proven to be beneficial for the network marketing model. Over time, comprehensive MLM software has been developed to harness the advantages of these technologies and to optimize business operations. Through the use of blockchains, it has become easier for entrepreneurs and associates to track processes, orders, inventories and transactions securely. Similarly, by adopting cryptocurrencies, several local referral marketing businesses could expand exponentially and boast of a global presence today. The combination of distributed ledger technology with cryptocurrency MLM software has also helped network marketers to reach a wider audience as well as recruit a diverse set of talents.
Bitcoin is a popular go-to cryptocurrency for network marketers. This is because Bitcoin offers a wide range of advantages that is unparalleled by any other cryptocurrency.
Some reasons why MLM software use Bitcoin have been listed below:
- Bitcoin is an open source and a free to use platform. Hence no charges are incurred for its usage.
- Unlike other cryptocurrencies, Bitcoin is easy to use and is accepted by a large number of financial avenues.
- Large sum of funds can be transferred securely for a very low fee using Bitcoin.
- Very easy to track transactions and payments, thereby preventing frauds and building trust in the system.
- Sensitive data such as a user’s banking and identity details are protected on the Bitcoin network using encryption
With many blockchain development companies offering a variety of services, it has become very easy to develop cryptocurrency MLM software. However, there are a couple of points to keep in mind when developing proprietary software for your network marketing business and they have been mentioned below:
- Choose a cryptocurrency MLM software development company that is trusted and has a lot of experience in this domain.
- Request for software demos if possible as it will help you gauge your requirements. Also, inquire about the pricing model to make sure the MLM software is affordable and fits within your prescribed budget.
- The development company should have extensive knowledge of different software and industry practices. A combination of the two will be crucial in developing solutions that sync well with your business parameters.
- The MLM software should be user-friendly as a complicated interface will confuse users.
- Ensure that your platform is feature-rich and is compliant with the prevalent security protocols.
Blockchain App Factory is a trusted blockchain development company that has unparalleled experience in building cryptocurrency MLM software. We also house a large team of experts who are well-versed with a variety of blockchain technologies which help them develop projects that not only match your business requirements but which is also secure and scalable. Moreover, their solutions are white-label, thus allowing you to have complete ownership over your software.
More reasons to develop your Bitcoin MLM software with Blockchain App Factory are listed below:
- We use the latest technology and practices to develop your project.
- Our solutions are highly customizable and affordable.
- Our developers have extensive experience with a variety of coding languages such as Java, Scala, Haskell, Ruby, Erlang, Node, C++, Solidity, Python and more. This helps them build formidable platforms that are secure and also allow automation.
- We have an excellent after-sales programme that allows you to update and upgrade your platform.