Financial services venture, deVere Group, has added Ethereum Classic and ZCash to its deVere Crypto offering, following “strong client demand”.
Users of its app, launched earlier this year, can also buy, sell, store, and exchange Bitcoin, Ethereum, Litecoin, Ripple, Dash, Monero and Bitcoin Cash.
More to life than Bitcoin
Nigel Green, Founder and CEO of deVere Group, comments: “Whilst it remains the dominant digital currency, with currently about 58% of the total market capitalisation, there is much more to the crypto-verse than just Bitcoin. 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 digitalised, globalised 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.”
The bigger picture
Bitcoin is, once again, showing remarkable resilience, yet the broader crypto market is currently in bear territory. With this in mind, Green argues the importance of looking at the bigger picture and seeing the potential buying opportunities.
For many investors, volatility is used as a welcome buying opportunity, he recently commented. 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 technology.
“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,” Green comments. “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.”