As the cryptocurrency sector is relatively new, there is a chance for cryptocurrency startups to tap into area of interest markets in which there is a high demand. The type of niche is definitely the financial industry. While cryptocurrencies have already started to replace a few aspects of the traditional banking system, many people still employ fiat cash to transact and exchange. A crypto start-up can take good thing about this lack of regulation to the market with lower obstacles to front door and larger growth prices.
The Dydx cryptocurrency exchange is one particular case. It enables traders to buy and sell cryptocurrency in an international market. It includes already highly processed more financial transactions than Coinbase, the most popular cryptocurrency exchange inside the U. S i9000. As of the final of 2017, Dydx acquired processed much more than $18 billion in ventures. The cryptocurrency exchange is on target to pull in $75 mil in earnings this year and is on track hitting $125 mil by the end from the year, with respect to the executives. Furthermore to generating revenue, Dydx can be projected to produce $81 , 000, 000 in net profit just for 2019.
Although Coinbase is the leading cryptocurrency exchange on the globe, there is even now a great deal of room for new entrants. While Coinbase processes $15 billion in transactions daily, rival industry transformation process exchange Binance processes $90 billion in transactions daily. Additionally to Coinbase, other online companies are looking at the future of crypto.