As the cryptocurrency industry is relatively new, there is the opportunity for cryptocurrency startups to tap into specific niche market markets wherever strategic business plan there is a high demand. The sort of niche certainly is the financial industry. While cryptocurrencies have already commenced to replace a lot of aspects of the regular banking system, many people still employ fiat money to transact and exchange. A crypto beginning can take benefit of this lack of regulation to the market with lower limitations to entrance and higher growth costs.
The Dydx cryptocurrency exchange is a single model. It allows traders to buy and sell cryptocurrency in an overseas market. It includes already processed more financial transactions than Coinbase, the most popular cryptocurrency exchange inside the U. Ring. As of the completed of 2017, Dydx had processed much more than $18 billion dollars in ventures. The cryptocurrency exchange is on target to pull in $75 mil in earnings this year which is on track going to $125 million by the end of the year, regarding to the executives. Furthermore to earning cash, Dydx is definitely projected to create $81 mil in net profit meant for 2019.
While Coinbase has been the leading cryptocurrency exchange on the globe, there is nonetheless a great deal of space for new traders. While Coinbase processes $15 billion in transactions daily, rival exchange Binance processes $90 billion in transactions daily. Additionally to Coinbase, other startups are looking at the ongoing future of crypto.