Cryptocurrency Translation service

[Hicks]

I’ve taken this down temporarily while I reconsider.

 

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[Hicks]

Been thinking about this and may actually do it myself. I was originally resistant as I don’t like dealing with clients. But feel there may be potential here, you could even charge in etherium or something.

 

[prodigy1210]

Execute hard brother

 

[Hicks]

Execute hard brother

thanks a lot, but ive decided to do something else.

 

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[Hicks]

NOTE: I took this down for a while as I was considering doing it my self. I've decided against it because I have something else I want to pursue....
But, I did actually refine the idea a bit and work out how to actually get clients interested. I also discovered two more possible services that I haven't listed below. That's just extras anyway.


1) The IDEA: Translation services for Cryptocurrency companies.

2) The PROBLEM:

The cryptocurrency space is growing exponentially worldwide, however almost all of the websites are mostly just in English. However if you look at the market, a huge percentage are not native English speakers. For example, according to this site “The Japanese currency, the yen, accounted for 56.2% of Bitcoin (BTC) as of January 15. The U.S. dollar was a distant second with 28.4%, while all other currencies accounted for 15.4%.” I’ve been selling to foreign markets for years and find that even if someone does speak English, they are 100% more likely to buy if the copy is written in their own language.

3) The SOLUTION

You could just offer a translation service for their whole website. However, this is actually a big ask as its not that simple. I suggest that you offer a one page summary of the crypto. This means that all they have to do is add a new page for each language rather than translate the whole site.


This way you can offer three services:

A) A well written summary in English which is written in a way that it could be easily translated and still be able to ‘sell’ (this is harder than it sounds).

B) Translations in as many languages as they want. This means you can upsell quite easily.

C) If the original copy contains things like the ‘roadmap’ you can easily sell updates.

4) The RESULT

This will not be passive, but it has the possibility of being a good ‘agency’ type company.

5) The MARKET

The crypto space is growing every day. I only found one direct competitor (cryptolingual.com), but I’m not sure what they are actually doing.

6) The FASTLANE model

This is scaleable in the sense that you could add languages. Barriers to Entry are not that high but it would require someone who is very organized. I could probably explain how to deal with and hire translators and proofreaders within an hour or so. Then its just a matter of direct selling to the crypto companies.

7) The BUSINESS model
See above.


8) The EXECUTION challenges

Dealing in languages that you don’t speak can be stressful. You will need to be organized and hire good translators. Also, you will need proofreaders. Also, a lot of these cryptos are totally bewildering and have no clear product, so even summarizing their product in English may be tricky.

9) The BRAND idea.

You could brand yourself as someone who knows the crypto market.

10) The EXIT strategy.

Not sure. In a way this is just a translation service….but the well copywritten summary should be offered as a product so I guess that could be your USP.



Let me know if you want me to delete this if you want to pursue this idea.

 

[LittleWolfie]

I found this interesting as it was A) Location Independent B) In an area of interest and knowledge for me(white paper summaries are not so hard, if you have a technical understanding) C) expandable to an ICO listing site, D) allows for time shifting (pretty easy to do all the type us on a month of Sundays , and schedule to push out whenever.

NOTE:

5) The MARKET

The crypto space is growing every day. I only found one direct competitor (cryptolingual.com), but I’m not sure what they are actually doing.



8) The EXECUTION challenges

Dealing in languages that you don’t speak can be stressful. You will need to be organized and hire good translators. Also, you will need proofreaders. Also, a lot of these cryptos are totally bewildering and have no clear product, so even summarizing their product in English may be tricky.

E]

I won't pursue this, as I can't work out how to reach the target audience, and can't afford to hire translators (and don't know enough multilingual people, who might do it for a cut.

 

[Hicks]

Hi, the best way by far is to contact the companies via LinkedIn, it worked a charm. I also tried the app called telegraph but didn’t really understand how to use it.

 

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[LittleWolfie]

Hi, the best way by far is to contact the companies via LinkedIn, it worked a charm. I also tried the app called telegraph but didn’t really understand how to use it.

Ah, I thought you were trying to sell to users. Your trying to convince ICO companies, to list with you. I can see that working better. I liked telegram a lot, its pretty popular with crypto world, so that makes sense.

The idea makes more sense now, though I'm not the right fit for it.

 

[Royce2]

You could just offer a translation service for their whole website. However, this is actually a big ask as its not that simple. I suggest that you offer a one page summary of the crypto. This means that all they have to do is add a new page for each language rather than translate the whole site.

This is a good idea.

A downside is this.
A lot of these cryptocurrencies like Ethereum are open-sourced. What that means is you contribute because you have a passion for it, not because you want to get paid. And will also has to be permitted by the ETH comity before implementation.

The upside to that downside:
Although open-source, if people greatly benefit from this service you will be rewarded and the connections/tips/cash and offer to work together.

Overall:
This is an EXCELLENT way to get your foot into the door of almost EVERY cryptocurrency organization. I would strongly consider anyone who wants to be involved in the cryptosphere and has a chunk of cash in their hands to hire freelancers to translate.