• Bitpanda‘s crypto platform could make significant gains before the end of the year.
• Crypto exchange ends business financing with $4.1 billion in profit.
Cryptocurrency exchange Bitpanda was trending a few hours ago for raising $263 million in a new round of funding. This increase gives the exchange a value of $4.1 billion, which would mark a milestone for the cryptocurrency platform.
For context, the new round of funding on the platform is three times larger than the previous round acquired in March. The exchange raised $1.2 billion for that initial round, which is a negligible figure compared to the new one. The recent investment was led by the company Valar Ventures, who, with its co-founder, Peter Thiel, has participated in all Bitpanda rounds.
Bitpanda and importance of recent raise
Bitpanda was created in 2014, its headquarters are in Vienna, and it fulfills the purpose of allowing the crypto purchase and unique metals. The exchange has also experimented with the stocks by providing 24-hour support throughout the week.
Bitpanda corresponds to one of the most used online brokers in Europe by cryptocurrency enthusiasts. However, the crypto exchange has competition in the region, such as the Trade Republic, Revolut, and eToro.
The cryptocurrency platform wants to stand out from competing websites by offering its technology to private banks. The company announced that several of its business partners enjoy the technology that identifies them and will soon offer crypto services. However, the Bitpanda platform cannot say which companies have subscribed to its program for legal reasons
Earnings from the European crypto exchange
The crypto platform receives its earnings from the difference between what a user pays for an asset and the price at which it is sold. This way of working has been great for the crypto company for over six years. However, for many users, this cryptocurrency purchase may not be affordable compared to the competition.
Although Bitpanda does not announce its yearly earnings, crypto fans speculate that the profits are high. In a statement, the crypto platform dared to say that its profits may increase by at least seven times more before the end of the year.
By now, the crypto exchange has around three million customers in Europe. The platform operates in Germany, France, England, Poland, Spain, Italy, and Austria. However, the company has not denied expanding its operations to other regions in Europe or internationally.
Without a doubt, Bitpanda has brought a lot to the cryptocurrency market by giving new customers opportunities in Europe. The virtual market has maintained a balanced streak since the beginning of August.