Bitcoin trading companies received a huge number of new users in 2017. Seeing as though the cryptocurrency crazy is still going on in 2018, we can expect an increase of users as this year progresses. For Genesis Trading, the increase of new users is because of different reasons. Since the company decided to offer Bitcoin lending services, it has gained even more popularity.
What is Genesis Capital Lending Services?
It’s evident that cryptocurrency-based lending services have a bright future ahead of them. Due to Bitcoin’s global appeal, they are directed towards financial inclusion. While Bitcoin’s price has decreased in price, the demand for the currency has not slowed down. Genesis Trading finds a lot of merit in using Bitcoin, especially for global lending.
The company began to create a name for itself in the cryptocurrency trading industry. When they created the Genesis Capital subsidiary, its intentions were to focus on Bitcoin-based lending services. Customers around the world took notice and sparked initial interested from them.Now, the company has about $100 million in loans, which is a large milestone for a trading service that occurred recently.
This is because Genesis Capital is one of the first crypto trading services to establish a solid reputation. Since their launch in 2015, their venture has been successful, and it’s evident that the company wants to continue expanding their presence in the crypto markets. Now, cryptocurrency loans are in high demand, but there are a few companies that can provide this service effectively.
BTCJam was one of the first companies to impact the Bitcoin lending space. However, the company had gained a bad reputation due to not having legal measures to force their users to pay off the loans the initially took out. Although most of the issues were fixed, it showed the world that there was a lot of issues that needed to be solved within the Bitcoin loaning industry.
Genesis Capital has worked differently than other platforms because they allow users to take out loans worth $100,000 or higher in either Bitcoin or other cryptocurrencies. Instead of solely focusing on Bitcoin, the company also focuses on implementing Bitcoin Cash and Ethereum in their loans.
Genesis’ clients have major names such as DV Chain and BlockTower Capital. It’s obvious that there is a large demand for crypto loans around the world, but we’ll have to see how Genesis Capital fares in the future.
You can use Genesis for additional reasons besides borrowing money. Investors can use Genesis Capital’s features to express their views on cryptocurrencies. They were able to borrow Bitcoin to short ETH, BCH, ETH, for instance, it’s a venture that companies will look towards.
Basically, we can’t deny that the creation of a Bitcoin lending industry is growing in popularity, demand, and in potential revenue. Whether this means that we’ll see positive market movement might be a positive choice, but its long-term problems might not be apparent until later. As time progresses, we’ll have to see how crypto lending industry develops and if its able to solve the current problems that happen within the cryptosphere today.