As the cryptocurrency sector is relatively new, there is a chance for cryptocurrency startups to tap into specific niche market markets wherever there exists a high demand. The kind of niche is definitely the financial sector. While cryptocurrencies have already started to replace several aspects of the standard banking program, many people still apply fiat funds to transact and exchange. A crypto startup company can take good thing about this lack of regulation to the market with lower limitations to entrance and higher growth prices.
The Dydx cryptocurrency exchange is one particular example. It permits traders to obtain and sell cryptocurrency in an international market. It includes already processed more orders than Coinbase, the most popular cryptocurrency exchange inside the U. Ring. As of the finish of 2017, Dydx had processed more than $18 billion in trades. The cryptocurrency exchange is on target to pull in $75 , 000, 000 in revenue this year and is also on track heading to $125 , 000, 000 by the end in the year, in respect to the executives. Also to generating revenue, Dydx is usually projected to make $81 , 000, 000 in net profit for 2019.
Although Coinbase is the leading cryptocurrency exchange on the globe, there is nonetheless a great deal of place for new entrants. While Coinbase processes $15 billion in transactions daily, rival www.technoprobiz.com/how-do-you-decide-on-a-cryptocurrency-startup/ exchange Binance processes $90 billion in transactions daily. Also to Coinbase, other startups are looking at the ongoing future of crypto.