Digital currencies, Stellar and Monero added to deVere Crypto app
I’m excited to announce we’ve added another two cryptocurrencies to the deVere Crypto app, predominantly due to public demand as digital money becomes ever more mainstream.
The latest additions to the app are Stellar Lumens (XLM) and Monero (XMR). Users can now buy, sell, store and exchange a total of seven major cryptocurrencies, with existing digital coins on the app being Bitcoin (BTC), Ethereum (ETH) Litecoin (LTC), Ripple (XRP) and Dash (DASH).
We made the decision to further expand our offering with the inclusion of Stellar and Monero on deVere Crypto as clients want a more extensive crypto portfolio.
This surge in demand highlights how both retail and institutional investors are finding it increasingly difficult to ignore the potential opportunities digital currencies present.
To my mind, there are four main factors driving the current expansion of the cryptocurrency sector.
First, the escalating appreciation and understanding of the need for digital, global and decentralised currency in an ever more digitalised and globalised world.
Second, we’re now seeing some of the major technology companies, banking groups, financial institutions and well-known investors around the world investing, using and starting to adopt cryptocurrencies.
Third, regulation of the cryptocurrency sector is now unavoidable. This was noted by the head of the International Monetary Fund, Christine Lagarde, as well as the July deadline established at the G20 summit in Argentina earlier this year.
Fourth, the technology behind digital currencies is constantly improving. As an example, scalability issues are becoming better all the time to reinforce transaction processing capabilities.
Each cryptocurrency has distinct characteristics, strengths and values, so adding another two coins to deVere Crypto helps clients achieve portfolio diversification within this asset class, and their different traits make them useful in different ways for investors.
The digital currencies on the Crypto app have been meticulously analysed by the deVere Crypto Research Department, operated by 10 of the world’s top blockchain and crypto experts.
It’s my view that other firms overlook this essential process, and we are the only ones undertaking this scope of research.
Nevertheless, whilst the crypto sector is becoming completely mainstream, it is still highly volatile, and advice should always be sought by an independent financial adviser.
However, I profoundly believe in the cryptocurrency potential in today’s increasingly globalised world.