As the cryptocurrency sector is relatively new, there is a possibility for cryptocurrency startups to tap into niche market markets in which there is also a high demand. One such niche may be the financial industry. While cryptocurrencies have already begun to replace a lot of aspects of the standard banking system, many people still work with fiat cash to transact and exchange. A crypto beginning can take good thing about this lack of regulation to the market with lower boundaries to access and larger growth prices.
The Dydx cryptocurrency exchange is one example. It allows traders to buy and sell cryptocurrency in an world-wide market. It includes already prepared more deals than Coinbase, the most popular cryptocurrency exchange in the U. Nasiums. As of the conclusion of 2017, Dydx experienced processed a lot more than $18 billion in trades. The cryptocurrency exchange is on track to pull in $75 , 000, 000 in revenue this year and is on track heading to $125 million by the end in the year, in respect to it is executives. In addition to generating revenue, Dydx is projected to create $81 million in net profit for the purpose of 2019.
When Coinbase is the leading cryptocurrency exchange in the world, there is still a great deal of space for new entrants. While Coinbase processes $15 billion in transactions daily, rival see post exchange Binance processes $90 billion in transactions daily. Also to Coinbase, other startups are looking at the continuing future of crypto.
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