Blockchain technology and cryptocurrencies, in general, have evolved from being just a new medium for exchange to being present in a variety of domains. Pretty much every industry has recognised the potential of the technology, which is why they are eagerly incorporating them. This has given rise to several cryptocurrency startups which have applied several use cases to cryptocurrency and blockchain technology, coming up with some robust ideas. As traders are starting to diversify from forex trading to cryptocurrencies, media attention is now put on cryptocurrency startups. So we’ve decided to take a look at crypto startups for a change, instead of forex trading guides for beginners.
Some of the best startups in the world across industries have been developed in the cryptocurrency space, especially in the last 5 years. Let us present some of the best startups in the crypto-space that have been successful in their respective sectors.
Ambrpay is a Switzerland based cryptocurrency startup that has enabled subscription payments in cryptocurrencies. It solves the very difficult problem of combining cryptocurrencies with subscription-based or recurring payment models. Their main use case is subscription payments, allowing users to make recurring ETH transactions to a specific address. It thus allows payments in both cryptocurrencies and fiat, serving the need for both Software-as-a-service subscriptions and donations.
Cobo is a cryptocurrency startup that provides a wallet service supporting a variety of coins. Led by Chinese cryptocurrency pioneer Discus Fish, Cobo provides one of the heftiest and secure hardware wallets on the market, which comes with the CoboVault. Unlike other wallets, the Cobo wallet does not require a connection to other devices to send funds. Instead, users can use an innovative design where they use the device camera and scan QR codes displayed on the vault to sign transactions.
Kozjin is a cryptocurrency startup that focuses on Digital Banking, enabling secure and tamper-proof transactions. The Malaysian startup offers a cryptocurrency focused on services that mimic a digital bank. It uses the Kozjin token with real estate. Enabling property dealings via blockchain. This makes it a tamper-proof alternative to traditional banking. Users can use the startup’s mobile app to purchase, sell and convert crypto-assets into multiple currencies. Thus it combines the security of blockchain with the convenience of everyday banking.
Finhaven is a Vancouver, Canada-based cryptocurrency startup that was founded in 2017 with a focus on equity and debt issuance. Based on the Ethereum blockchain, the company raised $7.9 CAD, with Dunami & Partners being a major stakeholder with a $5.3 million CAD investment. Finhaven’s platform uses Ethereum for wallet security by creating an audit of transactions. Each digitised asset is then assigned a unique token. The company has further plans of using BTC for its remittance layer. The company, which currently operates only in Canada has plans to expand its operations outside.
Israeli startup Certora focuses on providing a blockchain-based security platform. It uses a proprietary technology called Prover to provide a language-agnostic and blockchain independent solution for cryptocurrency-based smart contracts. This puts them in a very good position to disrupt the way individuals sign contracts with businesses and vice-versa via smart contracts. The tool integrates debuggers and compilers to verify adherence to contracts, identifying any bugs in the process.
While these are some of the best cryptocurrency-based startups at the moment, not all startups are successful. An overwhelming number of startups have failed due to a variety of reasons. Investors who remain hawkish for new startup investment opportunities should do their research before investing. They should check the company fundamentals, the idea behind the startup as well as the product’s use-case before making any final decision.