As the cryptocurrency sector is relatively fresh, there is a possibility for cryptocurrency startups to tap into niche market markets where there exists a high demand. The kind of niche is the financial sector. While cryptocurrencies have already begun to replace some aspects of the regular banking program, many persons still apply fiat funds to transact and exchange. A crypto start-up can take advantage of this lack of regulation to the market with lower boundaries to post and larger growth prices.
The Dydx cryptocurrency exchange is one case in point. It permits traders to obtain and sell cryptocurrency in an worldwide market. It has already highly processed more orders than Coinbase, the most popular cryptocurrency exchange in the U. Beds. As of the finale of 2017, Dydx got processed a lot more than $18 billion in orders. The cryptocurrency exchange industry transformation process is on track to pull in $75 mil in earnings this year and is also on track heading to $125 mil by the end from the year, according to its executives. Moreover to earning cash, Dydx can be projected to create $81 , 000, 000 in net profit pertaining to 2019.
Whilst Coinbase is the leading cryptocurrency exchange in the world, there is even now a great deal of area for new traders. While Coinbase processes $15 billion in transactions daily, rival exchange Binance processes $90 billion in transactions daily. Also to Coinbase, other startup companies are looking at the future of crypto.