Cryptocurrencies have taken the world by storm. However, crypto won’t truly reach its mainstream potential until the average Joe can invest. This week’s startup, CoinSmart, made a different solution for this thriving market.
⚾ The Elevator Pitch:
CoinSmart (NEO: SMRT) is a simple-to-use crypto asset trading-platform offering 24/7 human support. It’s exactly the type of premium support you see for typical financial institutions, but that is a rarity for crypto. CoinSmart is one of the few platforms to be registered as an official securities dealer with the Ontario Securities Commission. They already serve 40+ countries.
CoinSmart’s platform providers traders with numerous features from instant-currency trading (i.e. ‘SmartTrade’), cutting-edge security, Smart Pay invoicing for automatic crypto invoicing, and more. CoinSmart’s platform not only serves as an exchange, like Coinbase, but it provides real-life utility (i.e. sending someone an invoice for a good or service).
👇 The Drop Down
Stage: $18.6 million in total funding (our first public company feature!)
Tech Trend: Cryptocurrency
Traction: Serves thousands of customers in 40+ countries; $74M in assets; supports major cryptocurrencies like Ethereum, Dot, Bitcoin; well-designed mobile and desktop application
Team: Veteran founders across technology and business
Justin Hartzman - Founder & CEO
Micheal Koral - Founder
Jeremy Koven - Founder & COO
🔍 Our analysis
- 🛠 Utility will outpace trading in crypto
There are already dozens of crypto exchanges and trading platforms out there - Robinhood, Coinbase, Kraken, to name a few. What sets CoinSmart apart is its focus on delivering utility to its users rather than just another trading platform. By introducing features like SmartPay Auto-Sell Wallets, CoinSmart sets itself apart since automatic crypto bill pay is not a feature that most other trading platforms have. The same can be said about features like SmartPay Invoicing, SmartTrade, OTC (spread-based trading).
- 🚀 Insane growth
Within just 3 years of operation, CoinSmart has already expanded to 40+ countries around the world, and was netting ~$2 million in revenue monthly in the month of October (that scales up to ~$24 million ARR). The best part is - there’s a lot more room to grow! As Coinsmart expands to more territories, and supports more cryptocurrencies, we believe they’ll see a continuous increase in adoption.
- 🦑 Large and growing market
Cryptocurrency is already a $2 trillion market. For comparison, the Options Trading pool is a $400 Trillion cap and gold boasts a $16 Trillion market cap. If you believe that cryptocurrencies, DAOs, NFTs, and DeFi will have a larger foothold in our future society, then CoinSmart may have a very bright future ahead.
🤝 Get involved with CoinSmart
- See why CoinSmart could be a good idea in your small-cap company portfolio: coinsmart.com/invest
- Browse their website
- Register for their trading platform today
- Download their iOS app on the App Store
Disclaimer: Daily Dropout is not a financial advisor. Please invest at your own risk