Very few industries come close to the current success of the crypto market. In less than five years, the market has a total capitalization of well over $2 trillion dollars. Bitcoin alone makes up for almost half of that capitalization with its own being over $1 trillion. And as more people start making their way into the market, it is becoming obvious that crypto is very much here to stay. So regardless of what many of the critics have to say about it, it is not going anywhere any time soon.
In fact, with every passing day, more and more institutional companies are starting to open their arms to cryptocurrencies. Banks have been especially receptive, offering custodian services to its customers. And one of the most recent players to enter the game happens to be a very popular investment bank in Brazil.
Various central banks are considering the possibility of offering their own regulated version of a cryptocurrency. Better known as CBDCs, these types of cryptocurrencies will only work with the help of other banks. This situation is exactly where investment banks show up to help CBDCs. And in the case of Brazil, that investment bank happens to be BTG Pactual.
The bank just recently came out with a mobile app, which will allow people to trade in a variety of altcoins. However, this is not their first time coming into the crypto market. They have worked with the market closely before, when developing their Mynt platform. The Mynt platform allows investors to trade in two of the biggest cryptocurrencies on the planet: Ethereum and Bitcoin.
Using the BTG Pactual app, customers will be able to buy and sell some of the top cryptocurrencies in the market. With a wide selection of altcoins, it is good option for many people who are just starting out their trading journey. But more experienced cryptocurrency holders might not find this particular app as good, given that it has fewer investment options.
And even though the lack of cryptocurrencies is certainly a problem, it is one that they are working on. They have promised to add a variety of other coins to the platform in due time. What is more interesting is their current investment into cryptocurrency training.
The firm is planning to teach its customers how to go about investing in the crypto industry. These customers will learn the essentials of differentiating between scams and good opportunities, and learn how to use the app. This is certainly a step in the right direction, given that cryptocurrencies are still a very new field for most people. And given that it can be complex to navigate, a helping hand can go a long way.