Cryptocurrencies have been the talk of the town lately. Even though the interest has cooled down a bit since last year’s incredible boom, there is still a large community of dedicated traders and investors out there.
With billions of dollars being pumped into the system every month, it has started to become evident who has benefited the most from the increased interest, and who has fallen behind.
According to the latest numbers, the following three groups are the ones that have gained the most from the cryptocurrency market in the last year.
1. Cryptocurrency Exchanges
It should come as no surprise that cryptocurrency exchanges have been the biggest winners of the cryptocurrency boom since they handle most of the trading.
Coinbase – which is the exchange that most investors get started with thanks to their cryptocurrency to fiat exchange service – reported profits of over $1 billion in 2017. And guess what, they are on track to beat those numbers this year.
Binance is currently the largest cryptocurrency exchange based on daily trading volume, and they have also had an impressive year. In the past 12 months, Binance has reported over half a billion dollars in revenue which is incredible. But what is even more incredible is that Binance was launched only a year ago, meaning they made half a billion dollars in their first year of business.
2. CFD And Forex Brokers
Forex brokers were some of the first organizations to jump on the cryptocurrency bandwagon and it has really paid off. Three of the biggest names in the industry – Plus500, IQ Option, and eToro – have experienced enormous growth thanks to cryptocurrencies and they show no signs of slowing down. In fact, IQ Option recently launched their own cryptocurrency exchange Hodly, and eToro is working on a similar service that will give them access to the American market. If popular copy trading broker eToro is able to access the US Market, it will give them a huge advantage.
Another broker that has experienced an impressive journey is 24Option. Last year, the broker rebranded itself from a binary options broker to a CFD broker with a focus on cryptocurrencies. In hindsight, that was a great decision because 24Option has already established themselves as an innovative industry leader.
3. The Investors Themselves
Naturally, some of the biggest winners of the cryptocurrency boom are the investors themselves. Not only did the boom help hundreds of thousands of traders accumulate billions of dollars worth of cryptocurrencies, but it taught them the value of financial freedom.
You see, many of today’s most successful cryptocurrency traders had never even thought about trading before cryptocurrencies caught their attention. For many, “traditional trading” was exclusively for the rich and wealthy, but cryptocurrencies represented something else.
Today, you can find countless stories about everyday people that turned a few hundred extra dollars into a substantial capital that now helps support their lives.
Also, many of these traders have learned the skills needed to day trade and they are slowly moving into the stock and commodity trading space where even more opportunities await them.
Who Will Benefit From Cryptocurrencies In The Future?
By the looks of it, the three above-mentioned groups will continue to benefit and grow. However, one thing is different this year compared to last.
In the past few months, large financial institutions such as Nasdaq, Blackrock, and CEM have started to show interest in the market. As soon as these financial giants start allocating institutional money into the market, we can expect major growth for the value of individual cryptocurrencies as well as the daily trading volumes.
Cryptocurrency Winners – Final Thoughts
When Satoshi Nakamoto launched Bitcoin in 2009, no one could even begin to imagine how important and influential the cryptocurrency market would be less than 10 years later. In fact, up until very recently, few people had ever heard about cryptocurrencies, and even fewer had an interest in them.
Nowadays, things are different and cryptocurrencies are everywhere. Even the largest media outlets in the world are continuously reporting on the latest cryptocurrency developments.
No one knows where the cryptocurrency market is heading, but one thing is clear. For the people and businesses involved, there are many opportunities to make use of. And who knows, maybe last year’s cryptocurrency boom will be matched this year. Only time will tell.
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