Despite Massive Crash, Strong Demand For Cryptos Like Ethereum Classic And ZCash

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Despite Massive Crash, Strong Demand For Cryptos Like Ethereum Classic And ZCash
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Ethereum Classic and ZCash have been added to deVere Crypto, one of the world’s leading cryptocurrency exchanges, due to strong client demand.

Users of the trailblazing crypto app, launched by deVere Group earlier this year, can now also buy, sell, store, and exchange Ethereum Classic (ETC) and ZCash (ZEC), alongside Bitcoin (BTC), Ethereum (ETH) Litecoin (LTC), Ripple (XRP), Dash (DASH), Monero (XMR) and Bitcoin Cash (BCH).

Of the latest additions to deVere Crypto, Nigel Green, founder and CEO of deVere Group, comments: “Whilst it remains the dominant digital currency, with currently about 58 per cent of the total market capitalization, there is much more to the crypto-verse than just Bitcoin.

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“Each different cryptocurrency offers unique properties, strengths and uses for investors.

“There’s been strong demand among existing and potential investors for both Ethereum Classic and ZCash and we’re delighted today that clients can now trade and store them on the app.”

He continues: “We are committed to expanding our suite of carefully analysed 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.

“There’s no doubt in my mind that in today’s digitalized, globalized world, the demand for digital, global currencies in some form – whether it be the biggest ones of today or not – is only set to grow. From now on, there will always be widely-used non-fiat money.

“Therefore, it’s important to give clients the widest selection of the key, proven coins.”

Last week, deVere Group announced that it has more than 15,000 deVere Crypto clients since the app was launched in February. “We’re delighted with the strong and overwhelmingly positive reception it has received from clients and industry professionals alike,” noted the CEO.

Bitcoin is, once again, showing remarkable resilience, yet the broader crypto market is currently in bear territory. With this in mind, Mr Green has suggested it was important to look at the bigger picture and to see the potential buying opportunities.

He said recently: ““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.

“Such investors also appreciate that institutional and regulatory support is increasingly inevitable and could happen sooner than many previously expected.

“In addition, they are seeing for themselves how more and more global financial institutions, major corporations and household name investors are now working with cryptocurrencies and blockchain, the technology that underpins them.”

He added: “Increasingly, savvy investors are aware that what is taking place is a maturation of a relatively new market – hence the highs and lows almost every other week.

“As such, they understand that they either have to buy and take a long-term approach – as is typically the best approach with almost all investing – or be prepared to miss the boat.”

“As anyone who has analysed the sector in recent years will know, the dips and peaks are a usual part of the cryptocurrency market.”

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver

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