One of the earliest crypto exchanges, Bitstamp, is basing the future thereof on resilient reliability and consumer service as it focuses on the underserved audiences in which older investors, as well as women, are included.
The exchange is propelling the market-leading uptime and direct consultation with the regulators as well as the potential for the clients to utilize its consumer facility phone line, as stated by Robert Zagotta (the head of the US division of Bitstamp) and Julian Sawyer (the CEO of the platform) while appearing in the interview at Miami-based conference named Bitcoin 2022. Two years back, Zagotta stated, both the retail and organizational pioneers from Kraken (the rival crypto exchange) became a part of Bitstamp.
In his words, the recent few adoption waves have altered the expectations of the investors. The foundation of Bitstamp was laid in 2011 and it was acquired on the behalf of NXMH (a private equity company) in 2018. It just administers nearly 2% of the entire spot trading market between fiat and crypto, in comparison with nearly 27% managed by Coinbase (the market leader at this time).
As Bitstamp pursues to have a market share, it is focused on reaching an additionally cautious and older demographic along with being enthusiastic that it counts to be among the just four exchanges to which Cryptocompare has provided with AA-rating. Bitstamp entertains both the organizational as well as retail consumers. Even now, Sawyer mentions, while the organizational trades occupy nearly 80% of the entire volume, it only takes account of revenue’s 45% as they pay minimal charges as compared with the retail.
More than 54.5M euros (approximately $59M) have been generated by the firm in sales during 2020, paving the way toward a pretax yield of up to 20.8M euros, as per the latest records thereof. For some of the previous years, a defending position has been taken by the exchange in terms of crypto trading activities for European companies providing financial services. The firm at present expects to introduce an analogous product across the market of the United States.
Sawyer elaborated that Bitstamp is incapable of sharing the names of the firms within Europe to which it is presently providing its services, though additional transparency would be provided by the future contracts signed on their behalf.
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