As the cryptocurrency industry is relatively new, there is the possibility for cryptocurrency startups to tap into niche markets wherever there is also a high demand. The type of niche is definitely the financial industry. While cryptocurrencies have already started to replace a few aspects of the regular banking system, many persons still make use of fiat money to transact and exchange. A crypto international can take benefit of this lack of regulation to the market with lower limitations to entry and larger growth prices.
The Dydx cryptocurrency exchange is a single example. It permits traders to buy and sell cryptocurrency in an worldwide market. It includes already highly processed more trades than Coinbase, the most popular cryptocurrency exchange in the U. T. As of the conclusion of 2017, Dydx experienced processed a lot more than $18 billion dollars in transactions. The cryptocurrency exchange cryptocurrency startup is on the right track to pull in $75 million in earnings this year and it is on track to hit $125 , 000, 000 by the end in the year, with respect to the executives. Also to generating revenue, Dydx can be projected to produce $81 mil in net profit to get 2019.
Although Coinbase is the leading cryptocurrency exchange in the world, there is continue to 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. Also to Coinbase, other online companies are looking at the continuing future of crypto.