HOW AND WHY TO START YOUR
CRYPTO CURRENCY EXCHANGE
Bitcoin, the brainchild of Satoshi Nakamoto Debut in 2009 in the era of economic collapse, ushering a new phase of how money is dealt with and considered in the whole world. Bitcoin is not issued or regulated by any bank (central or world); instead, it is created through computer mining. Not trying to bore you with the technical details, it is a peer-to-peer payment system that offers a convenient, transparent, and fast way to conduct our transactions without any exchange rate fees.
Just as the author of the book "Digital Cash" and the Professor of Science and Technology at the University of California Davis, Finn Breton, says, "When you buy bitcoin, you're actually buying into a whole scene." Cryptocurrency is a lot more than bitcoin. Cryptocurrency is a lot more than just a transaction token like a dollar; it is a whole technology that achieves a lot more than what our traditional banking and the monetary system don't.
Given the rising tension between the superpowers, global market uncertainties, and dollar fluctuations, cryptocurrency is such an alternative source of diversification for our hard-earned money. And with countries, investment banks, hedge funds (JPMorgan with Zcash and Bank of America developing its cryptocurrency) adopting this virtual currency, its presence cannot be ignored.
When more people start adapting to this new currency, owning a sustainable cryptocurrency at the right price can make you an exceptional return. But what more can we do to maximize our return on investment? What we at BancorpTrust suggest is don’t just have some cryptocurrency when you can own a cryptocurrency exchange.
Although it seems like a far-fetched feat, it is a lot easier with the proper guidance than it sounds. Let's dive deep into the why, how, and benefits of owning a cryptocurrency exchange.
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BENEFITS TO START A CRYPTO EXCHANGE?
According to Forbes, in 2020, there were a record 11 billionaires from the cryptocurrency space. Wealthiest being the CEO of FTX, Sam Bankman, is worth more than $8.7 billion. Apart from the monetary benefits, a list of lucrative benefits are shared below:
1.) Unparalleled money benefits
Successful crypto exchanges are very profitable. Trading commissions per trade-main source of income for an exchange, and those rates are decided per the trade.
2.) Increasing demand for trading and investing
The volatility of cryptocurrencies has attracted a lot of traders and investors around the world, and the demands will only go northwards in the future.
3.) Growing Technology
Blockchain technology is constantly evolving, and its audience is growing exponentially. By owning an exchange, you'll have first-hand updates of this evolution and can even be a part of it.
4.) Entrepreneurial spirit
Building and running a crypto exchange is an online business, and its success matters on how well you run it.
5.) Ability to run a crypto exchange from anywhere in the world
Just like any other online business, a crypto exchange can be managed and operated from anywhere.
You might have been overwhelmed by just knowing the benefits of owning a crypto exchange. And if you have any doubts regarding the same or want to continue your pursuit of launching your crypto exchange; BancorpTrust is a licensed investment bank that can help set your dream exchange at a price that is not harsh on your wallet.
Contact us today to tap into our vast array of expertise!