The past 2018 year was not successful for the cryptocurrency industry, but despite this, fintech continues to grow rapidly. Every year, the number of investments in new projects, including those working with blockchain technology and digital coins, is growing rapidly.
The near future of the financial sector is undoubtedly related to the cryptocurrency industry. According to Business Insider, for the entire 2017, the amount of investment in fintech was less than in the first half of 2018.
The numbers that the PricewaterhouseCoopers study showed are amazing:
- 77% of companies are going to use blockchain technology in their business in the near future;
- 82% of companies plan to have partnerships with fintech projects.
As it is known, investment growth provokes the emergence of new products, in our case, we will consider new mobile applications in fintech industry that support digital coins.
This project was created in 2015, in the beginning, with its help it was possible to purchase only Bitcoin for fiat in the United States and the Philippine Islands. Two years later, Abra entered the global market. Last year, the application introduced the possibility of payment using debit cards Visa and MasterCard, as well as SEPA, for the European Union market. Also, the list of supported digital coins significantly expanded.
At the beginning of 2019, Abra application`s users had the opportunity to invest in ETF, as well as shares of public companies. The creators of the application say that the whole 2019 will be preferential for such an investment, that is, no commission will be charged for them.
Abra can be used by people from 155 different countries of the world. A very important advantage of this project is the fact that they do not store their clients’ private keys on their own servers. This means that investors can not worry about hacker attacks and the safety of their own funds.
The Robinhood application is developing at a very fast pace in the United States. With it, it is possible to invest in digital coins, ETF, stocks, and even options.
At the very beginning, the Robinhood app supported only trading in traditional financial markets. But literally last year, the situation has changed – operations with cryptocurrency have become available in the application.
The rapid growth of the audience of the application has led to new funding – in the spring of 2018, the project managed to attract $363 million. The total capitalization of the company now amounts to more than 5.6 billion dollars, and the total number of users of the application exceeds 4 million people. Robinhood is developing very fast, the only disadvantage of this project is the fact that at the moment the company is working only in the United States of America.
3. Circle invest
In 2018, the well-known company Circle released its own application Circle Invest.
A unique feature of this application is the ability to buy a whole portfolio of digital coins in one click.
The minimum amount of investment in this project begins with a nominal figure of 1 dollar. Circle Invest is available to residents of the European Union and the United States of America.
As it was already mentioned above, large companies that have been operating in traditional markets for many years are starting to launch their own cryptocurrency-related products. Last year, one of the largest stock exchanges in Germany, Börse Stuttgart Group, released its own mobile application (with support for digital coins) Bison.
There are no commissions for transactions, the main monetization of the project is earnings on the price spread. It is important to know that Bison is only a shell, the trade itself takes place through the Bitstamp exchange. Now only BTC, ETH, LTC, XRP are available in the application, but in the near future, the developers are planning to significantly expand this list.
5. Cash App
Users of the Cash App application have the opportunity to exchange money without commissions, using only email. In December 2017, the developers (as a test) added support for BTC to this application.
As practice has shown, this decision had a positive effect on the popularity of the Cash App. Even after the Bitcoin rate began to decline rapidly in early 2018, the audience of the application was actively growing.
It should be noted that this project does not work with the exchanges, and cooperates only with individual private brokers. This feature allows protecting users from rapid price fluctuations, as well as solve security issues. It’s only disadvantage is the fact that it is available only for residents of the United States.
Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/