The Rush
You may have heard of the phrase "selling shovels in a gold rush". It originated after the California Gold Rush to describe the success of not the gold miners & panners but the businesses that sold the tools, like shovels and pickaxes, to those anyone interested in claiming their stake in the gold rush.
In our current "gold rush", the boom of cryptocurrencies and assets, how can one be like those that profited from the craze?
The best answers include starting your own exchange or building a product around protecting the newfound assets. The largest exchanges have reaped the rewards on every trader through its form of trading fees. Millions of dollars poured into the business every second and on every transaction has been its own mini gold rush for these exchanges. Hardware companies like the Ledger and Trezor wallets have, on multiple occasions, sold out of their product due to demand.
It may not be feasible for you to start your own exchange or create a brand new product. It takes a significant amount of time, effort and, let's be honest, quite a bit of mental fortitude.
Of all the possible ways, there are actually a few easier methods to join in and reap some of the profits that these businesses gain.
Buying Shovels
Exchanges
Binance is a leading exchange and gives your the opportunity to invest in its platform in the form of Binance Coins (BNB).
As this exchange gets traction, there is a built in use case to utilize the lower fee tiers when trading through BNB.
Investing in BNB is betting that Binance continues to reign as one of the more relied upon exchanges and thus shares its profit with you through investing in BNB.
KuCoin is a much newer exchange that offers a similar dynamic as Binance in which you can also use their form of currency, aptly named KuCoin Shares (KCS) as an investment vehicle. By holding KCS, the participant is given a bonus, a dividend if you will every day.
KuCoin is a world-class blockchain asset exchange which has its own coin / share called KuCoin Share. By holding this share you receive a daily Bonus / dividend called KuCoin Bonus. The Bonus you receive is 50% of the trading fees. If the volume & amount of coins traded increases, the bonus of holding the Shares will increase aswell.
As the usage rates of KuCoin increases, the value of these assets should significantly accrue and increase over time. In addition, their referral system allows those to increase their value by inviting more into the platform by giving the inviters a kickback from the trading fees of the invitee. This system seems to be smartly built to incentivize both ends of process.
Conclusion
Those two simple ways may help you balance out your portfolio by taking a claim in some of the businesses during this crypto rush.
If this information has helped or provided value in any way, you can support more of this kind of work by using these referral links to get started.
Binance: https://www.binance.com/?ref=11661101
Kucoin: https://www.kucoin.com/#/?r=1t5t7
Best,
cryptochar