Bury crypto entrepreneur turns £1k savings into £840k turnover in a year
A Greater Manchester-based tech entrepreneur Josh Riddett has grown his cryptocurrency business from £1,000 savings to £840,000 turnover in its first year of trading.
The 28-year-old Josh Riddett started Easy Crypto Hunter in his home town of Bury and has seen rocketing sales of the cryptocurrency mining machines he manufactures. He is now on track to reach £1m turnover in his first 18 months of trading.
The business is also preparing for a recruitment drive during 2019 to enable it to cope with increased demand.
"We are absolutely delighted to see the business take off and I strongly believe cryptocurrency is here to stay and is set to become more popular and more mainstream as the likes of BMW, Microsoft and Expedia accept it as a form of payment," Riddett said.
"Easy Crypto Hunter has won more than 100 customers in a year, including business owners, property companies and retirees, who see cryptocurrency is growing and want to earn a passive monthly income after investing in the special computer hardware manufactured by Easy Crypto Hunter.
“Cryptocurrency is the future and is seriously disrupting conventional payment technologies avoiding swingeing bank charges for transactions like overseas payments or banking cheques or cash."
Riddett founded the business in late 2017 after graduating from Lancaster University, where he was studying a business entrepreneurship management degree. He originally built one machine and sold it on eBay, before reinvesting the profits to buy more hardware.
The machines made by Easy Crypto Hunter provide the computer power that enables mineable tokens to be exchanged between two parties. Owners plug the machines into a normal UK plug socket, connect them to the internet and leave them running 24/7, essentially renting out the power of their machines.
Alongside the mining machines, Easy Crypto Hunter has been working on the other arms of the business. It regularly consults on blockchain and cryptocurrency for businesses and offers a cryptocurrency accounting service.
Easy Crypto Hunter won the Technology Business of the Year award at the Made in Bury Business Awards 2018 in November.