Two new cryptocurrencies, Ripple and Dash added to deVere Crypto
This week we added another two currencies to deVere Crypto. As well as the existing cryptocurrencies on the app, Bitcoin, Ethereum and Litecoin, users can now store, transfer and exchange Ripple and Dash.
In regard to market cap, Bitcoin is the largest in the world, followed by Ethereum (second) and Ripple (third). Litecoin is fifth and Dash is tenth.
As I was quoted as saying to International Investment, as well as other media, we decided to increase the number of cryptocurrencies offered on the app for two main reasons. First, every digital currency has varied characteristics, benefits and values, making them expedient to different people and businesses in different ways.
The cryptocurrencies offered on the app have been extensively evaluated and scrutinised by the deVere Crypto Research Department, run by 10 of the world’s leading blockchain and crypto experts. Indeed, I’m confident that we are the only organisation to be undertaking such thorough, widespread research.
Second, popularity and demand for cryptocurrencies is forecast to grow immensely throughout 2018 and beyond, and we want to be in a strong position to cater to his demand.
There are a number of influences driving this crypto demand. Predominantly, an increasing number of people are now aware of digital currencies and have a far wider comprehension of them. Furthermore, scalability issues are improving all the time, which will strengthen the transaction process capacity, and, importantly, regulatory bodies across the globe are studying ways to regulate cryptocurrencies, providing increased protection and confidence for investors in the market.
That said, as well as the potential opportunities cryptocurrencies can offer, it’s essential that investors are aware of the significant pros and cons. Indeed, cryptocurrencies should always be considered high speculative, and are expected to stay highly volatile in the short-term.
As such, it’s important that investors looking into crypto seek professional, independent advice, and always ensure their portfolio is suitably diversified to circumvent risks and make the most of potential opportunities.