Crypto Finance Has Arrived – Entrepreneur

Crypto Finance Has Arrived – Entrepreneur

5 min read

Opinions expressed by Entrepreneur contributors are their own.

You’re reading Entrepreneur India, an international franchise of Entrepreneur Media.

Cryptocurrencies have garnered a lot attention of late with Bitcoin price skyrocketing once again and new assets such as NFTs showing new, innovative ways to apply the technology.

Today, the cryptocurrency industry is estimated to be worth more than $792.53 million and is expected to reach more than $5 trillion by 2026. With its ballooning market cap and ever increasing retail and institutional interest, a new set of companies and platforms have emerged that allow people to do even more with cryptocurrencies. This has led to what some people call a “parallel financial services industry”.

This is where Bitcompare comes in. It was created to help both retail and professional investors earn more yield, get better loans, find the most cost-effective exchanges and more.

How it started

Bitcompare was initially started as a simple spreadsheet after its founder, Dean Fankhauser, was trying to help his friends and family earn interest on their Bitcoin. The spreadsheet would break down things such as interest rates, whether those rates compounded, what the fees were, how trustworthy each platform was and more.

This humble spreadsheet soon turned into a website after more people asked him to share it. The website was scrappy, but it did the job. A few visitors per month soon turned into hundreds of visitors per month, then thousands, tens of thousands and then hundreds of thousands.