The Blockchain and cryptocurrency space is growing rapidly in 2020. Plenty of startups are arising with new products and services for crypto investors. The development of DeFi (decentralized finance) has brought a resurgence and may signal a new trend in the industry. This article focuses on the top 5 crypto startups in 2020.
Stacked is a trading platform that allows users to invest in crypto indices, access trading bots, and automate portfolio management. The platform is one of the few that provide pre-built indices “indexes” to help traders structure their portfolio.
Stacked connects with a trader’s existing exchange account, which allows them to instantly allocate a percentage of their portfolio to a pre-built index of coins with just a few clicks.
The platform also allows traders to subscribe to trading bots made by other traders. That is, they can instantly connect their trading account to a strategy built by a top trader. All the bots under Stacked have real, detailed, performance history with no misleading backtest results.
Stacked includes features such to use pre-built bots strategies, pre-built indices and automatic rebalancing.
Founded in 2018, DappRadar is based in Lithuania and secured €2 million seed funding in 2019. Dapps (decentralized applications) are applications that run on peer-to-peer computer networks, with open source code and deployed via blockchain. DappRadar tracks over 2900 of these Dapps across multiple blockchains and filters out fake and irrelevant activity to provide actionable market intelligence.
In 2019 its team raised €2 million in a seed funding round led by Naspers Ventures, Blockchain.com Ventures and Angel Invest Berlin.
Founded in 2017, BlockFi is a privately owned NYC-based lending platform startup. It calls itself a provider of wealth management products focussed on cryptocurrencies and crypto investors. As a company, Blockfi’s revenue has grown 10x over the past year, putting it on track to reach $100M in revenue over the next year. Blockfi has over $1.5B in assets on its platform, and a 0% historic loss rate across its entire lending portfolio, BlockFi is making a strong case to be a dominant firm in the overarching emerging FinTech space.
BlockFi offers three services:
1. Crypto interest accounts – deposit crypto with BlockFi and receive interest each month. The interest rates depend on the crypto you deposit. They offer up to 8.5% APY on stablecoins and up to 6% APY on Bitcoin and other cryptocurrencies.
2. Crypto trading – trade cryptocurrency pairs between BTC, ETH, LTC, USDC and GUSD.
3. Crypto-backed loans – instead of selling your crypto you can get a crypto-backed cash loan against it. BlockFi provides up to 50% of the value of the crypto assets in USD.
SwapRadar is a cryptocurrency exchange aggregator startup that finds the best exchange rates from multiple sources. Users can then buy or sell crypto directly on the source of their choosing. SwapRadar is integrated into the largest and most reliable cryptocurrency exchanges.
To execute an exchange at the best rate possible, SwapRadar’s trading algorithm searches for bids and asks on various outside crypto exchanges. It then suggests the best available rate at the time. The rates are approximate until the transaction is formally made on chain. This is why the exchange rate at the time of the transaction may differ slightly from the estimated rate that you see when you start the transaction.
The project was developed by crypto pioneers and experienced developers and registration is not required. SwapRadar makes it easy to find the best offer to buy crypto.
Crypto.com, based in Hong Kong, is a payments platform that aims to be the best place to buy, sell and invest with crypto. They offer various products such as a price tracker, high-yield interest accounts, and Visa credit cards.
The platform offers many services, although mostly in Asia currently. There is also a crypto portfolio with cash refund features and a Visa card supported by the MCO token. Other features include Netflix network subscriptions and free Spotify services for cardholders, where users who pay for their subscriptions using the Visa (MCO) card can get a full discount on the cost of the subscription.The Visa service makes it easier for users to convert digital to traditional currencies and vice versa, and there are videos on YouTube showing its viability.