Coinstash: Crypto Massive Adoption Is Here

Crypto has been a go-to investment for most people in the fintech space. According to the 2021 report by Arcane Research, Bitcoin has greatly surpassed gold and the S&P 500 despite its ups and downs.

In line with these innovations, has come the common use of ‘smart contracts’. A lot of processes nowadays can now be automated through the use of smart contracts. Just imagine writing a piece of code to execute an insurance claim once certain conditions are met. No intermediary and no manual checking process is needed.

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Additionally, we are also seeing an increased demand when it comes to job opportunities in the blockchain. A report from Electric Capital suggests that there are over 18,000 monthly active developers in Web3.

Despite the bear market cycles that happened in the crypto space, developer growth continues to maintain its upward course.

According to Coinstash CEO Ting Wang, we’re seeing a massive increase in crypto adoption amongst institutions. An example of these institutions is MicroStrategy whereas of 29th December 2021, they have bought $94.2M worth of Bitcoin.

How To Trade Or Invest In Crypto

When it comes to crypto platforms, Wang also observed that the two key elements that people look for are easy accessibility to the latest prices and the number of cryptocurrencies the platform offers.

Coinstash has currently over 250 cryptocurrencies to trade – from NFT, to DeFi, gaming, and even meme coins. Investors can approach investing in cryptocurrencies with a short or long term view in mind, with the added relief of an easy-to-use platform that they can utilise at any stage in their journey.

Crypto Sectors To Watch

NFT

Non-fungible tokens or NFTs are any form of media that is digitally signed to the blockchain network. What’s unique about these tokens is that aside from art, they can have multiple utilities such as exclusive access to certain events and even in-game assets.

Some notable sales in the art space include the sale of Beeple’s Everydays – The First 5,000 Days worth $69M that triggered the NFT mania. We’ve also seen an Indonesian college student recently raking over $1M worth of Ethereum for selling his selfies over at Opensea.

Another example of NFT can be in the form of in-game items that are deployed in blockchain games like The Sandbox and Axie Infinity. These virtual items can potentially be used in other ecosystems the more we see developments in the blockchain gaming industry.

DeFi

Decentralised Finance or DeFi has also paved the way for doing monetary transactions without the need of going through a lot of third party verifications. In order to understand this further, we must know how it’s different from centralised finance.

In centralised finance, the banks handle your money and you don’t have complete control over it. DeFi solves this problem through the use of blockchain technology. Using digital wallets and public ledgers ensures transparency over every transaction that goes through the network.

This is what Coinstash is currently offering through their Earn, Borrow, and Spend products. DeFi platforms such as this one can help you as an investor to diversify your portfolio.

Insurance

With DeFi having risks of getting hacked, we can see why insurance can potentially trend in the crypto space.

Last year, there was a reported $600M hack over at the Poly Network. Assets stolen included about $253M in tokens on Binance Smart Chain, $266M in Ethereum tokens and $85M in USDC on the Polygon network, according to cryptocurrency wallet addresses disclosed by Poly.

This is where blockchain-powered insurance platforms can come into play in order to mitigate these risks. Some examples of these platforms are Nexus Mutual, inSure DeFi, InsurAce, and many more.

Coinstash Earn, Borrow & Spend

With a lot of developments in the crypto space, it’s no surprise that a lot of people want to adopt this technology. This is where platforms like Coinstash can help you in exploring the world of crypto as an investor.

Coinstash lets you trade cryptocurrencies with a 0.85% flat fee (including GST).  In addition, Coinstash also facilitates large over-the-counter (OTC) trades through its Coinstash Private Desk at discounted fees.

The vision of Coinstash is to bridge traditional finance and the world of crypto. Coinstash aims to fulfil this vision by integrating three key products into its platform: Coinstash Earn, Borrow and Spend. Coinstash prides itself in being one of the most user-friendly cryptocurrency platforms in Australia that aims to unlock the usability of cryptocurrencies for its current and future users.

With Coinstash Earn and Borrow, customers will have access to some of the most competitive rates available in both traditional financial markets and the world of DeFi – all from an easy-to-use, trusted Australian solution.

Coinstash Earn lets you receive up to 8% p.a. through buying and holding major cryptocurrencies such as Bitcoin, Ethereum, Tether, USDC, and more. Investing in crypto gives higher rates compared to traditional banks so investors can leverage this growing trend.

With Coinstash Spend, users can enjoy spending their crypto anywhere in the world with a Coinstash card, whilst having the liberty to choose whether they want to liquidate their existing cryptocurrency investments or simply top-up the card in fiat currencies.

CRIISP Media recently sat down with Coinstash to discuss the business further, it can be viewed here: https://youtu.be/BN9ZHzwiTjo

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