As the cryptocurrency market is relatively fresh, there is an opportunity for cryptocurrency startups to tap into specialized niche markets wherever we have a high demand. The sort of niche may be the financial industry. While cryptocurrencies have already commenced to replace several aspects of the regular banking system, many people still apply fiat cash to transact and exchange. A crypto international can take good thing about this lack of regulation to enter the market with lower limitations to entry and larger growth prices.
The Dydx cryptocurrency exchange is 1 example. It allows traders to acquire and sell cryptocurrency in an overseas market. It has already prepared more orders than Coinbase, the most popular cryptocurrency exchange inside the U. Ring. As of the final of 2017, Dydx had processed a lot more than $18 billion dollars in deals. The cryptocurrency exchange is on track to pull in $75 mil in revenue this year and is also on track heading to $125 , 000, 000 by the end of this year, with respect to it is executives. Moreover to generating revenue, Dydx is projected to make $81 million in net profit pertaining to 2019.
Whilst Coinbase is the leading cryptocurrency exchange in the world, there is nonetheless a great deal of room for new traders. While Coinbase processes $15 billion in transactions daily, rival exchange Binance processes $90 billion in transactions daily. https://technoprobiz.com/how-do-you-decide-on-a-cryptocurrency-startup/ In addition to Coinbase, other startups are looking at the continuing future of crypto.