Bitcoin, Ethereum, and Dogecoin get all the attention, but there are thousands of other cryptocurrencies, and no one can predict a clear winner.
Instead of trying to find a winner, I believe investors should add exposure to a proxy for the entire market.
These firms are most likely to benefit from the surge in valuations, in my opinion.
In other words, it handles the know-your-customer, anti-money laundering, and identification procedures to allow people to buy and sell crypto with fiat.
Banxa’s platform supports all digital assets, beyond Bitcoin and Ethereum.
Instead, Banxa takes a cut from the merchants on the receiving end.
It’s worth noting that the volume of transactions should increase even if the cryptocurrency market dips, because Banxa may be processing sell and buy orders.
Now, Bitcoin trades as an independent asset class, disconnected from the rest of the economy.
If this stability can be sustained, it won’t be long before institutional investors and major corporations start adding more BTC to their balance sheets.
This is why I prefer a payment provider that’s exposed to growing adoption for the entire market.
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