January 9, 2022
Cryptocurrency

CoinSmart

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).

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coinsmart-neo-smrt - Investing News

👇 The Drop Down

Site: https://www.coinsmart.com/
Founded: 2018
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

  1. 🛠 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).
  2. 🚀 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.
  3. 🦑 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.

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🤝 Get involved with CoinSmart

Disclaimer: Daily Dropout is not a financial advisor. Please invest at your own risk