University of Cambridge Report: Crypto community is growing rapidly
The University of Cambridge released its second crypto-asset report in December 2018 which contains an in-depth analysis of the cryptocurrency market.
The report proves that the number of crypto users approximately doubled during 2018, but despite high user registration, only 38% have started trading actively.
The lack of understanding and complicated nature of cryptocurrencies prevented potential contributors from entering the crypto market. Having this in mind, the IronX Exchange wants to provide a simple, user-friendly and secure platform, with features that suit both beginners and experts. This platform can attract more people to the crypto market and positively influence market liquidity.
Key Highlights of the Cambridge Report
Cambridge University’s second Global Cryptoasset Benchmarking Study has highlighted many interesting facts. In fact, the study found that 57% of companies offer Bitcoin and Ethereum integrated support to customers, while cross-segment expansion has increased to facilitate diversification in payment methods. It means that all the talk regarding the demise of Bitcoin is totally exaggerated.
Multi-coin service providers reached 84% of all service providers in 2018. Compared to other coins, the study revealed that Bitcoin’s median on-chain transaction size has been growing consistently since 2016.
Besides, the increasing number of self-regulatory initiatives combined with the emergence of sophisticated technologies that are safer will help the market flourish in the coming years.
The report states that the crypto-asset ecosystem is becoming more and more connected to traditional finance, with growth in the creation of gateways built on regulatory clarity, which connects both the fiat and crypto worlds. However, fiat-to-crypto trades are still only allowed on a handful of exchanges, of which IronX is the fully regulated and security audited crypto exchange.
The Cambridge report has been prepared after surveying 180 global entities across 47 countries, covering 75% of the global economic activity in digital assets. If you notice the transition of the report from “cryptocurrency” in 2017 to the “crypto asset” in 2018, it shows that the digital asset sector continues to grow and branch out.
About the IronX Exchange
IronX Exchange aims to provide users with an operationally efficient and highly secured environment for trading fiat-to-crypto and vice versa. The exchange is already regulated by Estonian FIU and successfully passed security audit processes. IronFX Group, the global multi-asset broker, will seamlessly blend with the exchange to facilitate diversification of trading portfolios.
After vigorous testing for security and stability, the IronX Exchange beta version went live on December 21, 2018. The website is open for everyone to pre-register, and those who get KYC approval will be rewarded with 10 free IRX tokens.
