As the cryptocurrency market is relatively new, there is an opportunity for cryptocurrency startups to tap into specific niche market markets in which there exists a high demand. The kind of niche is definitely the financial market. While cryptocurrencies have already commenced to replace several aspects of the original banking system, many persons still work with fiat cash to transact and exchange. A crypto new venture can take advantage of this lack of regulation to the market with lower obstacles to front door and larger growth costs.
The Dydx cryptocurrency exchange is a person model. It enables traders to acquire and sell cryptocurrency in an intercontinental market. It includes already highly processed more trades than Coinbase, the most popular cryptocurrency exchange inside the U. Beds. As of the finale of 2017, Dydx had processed much more than $18 billion dollars in deals. The cryptocurrency exchange www.technoprobiz.com/how-do-you-decide-on-a-cryptocurrency-startup/ is on the right track to pull in $75 million in revenue this year and is on track to hit $125 mil by the end for the year, as per to its executives. In addition to generating revenue, Dydx is normally projected to produce $81 , 000, 000 in net profit with respect to 2019.
Even though Coinbase is the leading cryptocurrency exchange on the globe, there is even now a great deal of place for new traders. While Coinbase processes $15 billion in transactions daily, rival exchange Binance processes $90 billion in transactions daily. Moreover to Coinbase, other online companies are looking at the future of crypto.