As the cryptocurrency industry is relatively new, there is a possibility for cryptocurrency startups to tap into market markets wherever there exists a high demand. One such niche is a financial market. While cryptocurrencies have already begun to replace several aspects of the conventional banking program, many people still apply fiat money to transact and exchange. A crypto startup can take good thing about this lack of regulation to enter the market with lower barriers to entry and larger growth costs.
The Dydx cryptocurrency exchange is one particular case in point. It permits traders to get and sell cryptocurrency in an intercontinental market. They have already highly processed more ventures than Coinbase, the most popular cryptocurrency exchange inside the U. Nasiums. As of the bottom of 2017, Dydx experienced processed more than $18 billion dollars in financial transactions. The cryptocurrency exchange is to normal to pull in $75 , 000, 000 in income this year and is on track heading to $125 , 000, 000 by the end in the year, according to the executives. Also to generating revenue, Dydx is normally projected for making $81 , 000, 000 in net profit pertaining to 2019.
Even though Coinbase is the leading cryptocurrency exchange in the world, there is continue to a great deal of bedroom for new traders. While Coinbase processes $15 billion in transactions daily, rival customer oriented strategy exchange Binance processes $90 billion in transactions daily. Furthermore to Coinbase, other online companies are looking at the future of crypto.