Ethereum Classic and ZCash are far from being the largest cryptocurrencies. In terms of market capitalization, Ethereum Classic stands on the 15th spot with $1.17 billion. ZCash is the 21st largest with a capitalization of $562.66 million. Nevertheless, crypto exchange app deVere Crypto considers that there is demand for both cryptos. Earlier today, deVere Group, which developed the app, added Ethereum Classic and ZCash due to demand from clients.
deVere Crypto Sees Fast Growth
deVere Crypto is the brainchild of deVere Group, one of the largest independent financial services firms. In January 2018, deVere Group announced the app. According to the press release, the decision to create deVere Crypto came from soaring demand for cryptocurrencies.
“Nothing has captured the imagination in this new fintech age quite like cryptocurrencies, specifically Bitcoin. No-one was really talking about it back in 2016. But those who invested in Bitcoin before the beginning of last year have enjoyed an impressive price increase,” said deVere Group’s founder and CEO, Nigel Green.
The app was officially released on February 5. In the beginning, deVere Crypto supported just Bitcoin, Litecoin and Ethereum. Later the same month, deVere Group added Ripple and Dash tokens. In May, the app started supporting Monero, Stellar, Bitcoin Cash and EOS.
With the addition of Ethereum Classic and ZCash, deVere Crypto now includes nine cryptocurrencies. The app is not just for storing crypto. It also allows buying, selling, and exchanging cryptocurrency. Since its launch, it has attracted over 15,000 users, according to the company.
Moreover, deVere Crypto will keep adding new coins, according to the company’s CEO.
“We are committed to expanding our suite of carefully analyzed digital coins for two main reasons. First, clients are increasingly demanding a truly diversified crypto portfolio as the sector grows and moves ever more into mainstream finance. And second, cryptocurrencies, as an asset class, are not going away. It is a burgeoning sector and is playing a larger and larger role within the global financial system,” Green said.
deVere Group Bullish on Crypto and Fintech
deVere Group is probably one of the largest financial firms that are betting on cryptocurrencies. The company and its CEO have reiterated this position on multiple occasions. In its latest press release, the company pointed out that Bitcoin is keeping its ground even though the overall market is in bear territory.
Moreover, Green considers that the drop in some cryptos might suggest a buying opportunity. “For many investors, volatility is used as a welcome buying opportunity. They look at the bigger picture. They believe that cryptocurrencies are the future of money,” he said.
Green is also optimistic that cryptocurrencies will soon receive the support of government regulators. A potential intervention from regulators might make cryptocurrencies more attractive to investors.
In addition to launching and expanding deVere Crypto, deVere Group has been focusing on fintech lately. In October 2017, it launched the deVere Investment app for investing in Structured Notes, Exchange-Traded Funds, and Mutual Funds.
Last month, the company launched deVere Core, an app for monitoring investments. deVere Core allows investors to see their holdings in real time, access news and events. In addition, deVere clients can get in touch with consultants through a direct line or a chat.