VANCOUVER, British Columbia, March 17, 2020 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE: BIGG; OTCQB: BBKCF; WKN: A2PS9W), owner of Netcoins Inc. (“Netcoins”), a leading Canadian cryptocurrency trading platform, is pleased to announce that its in-app trading volumes have grown by 2.2x (120%) during March 1 to 16, as compared to the first half of February 2019, reaching $1.87M in trades, exclusive of OTC volumes. March in-app trading volumes, by March 16th, had already exceeded that of the entire month of February.
Unprecedented volatility and price movements have entered the traditional financial markets in response to COVID-19. The crypto markets have not been spared. During March, the Bitcoin price has fluctuated dramatically, with the two largest volume-trading days during the past two years (peaking on March 12, 2020 with 481,000 BTC traded, according to bitcoinity.org) being recorded.
Netcoins, as a crypto broker, is not dependent on the price of Bitcoin or other cryptocurrencies traded, but rather derives revenue and profit from trade volumes as a percentage of trade value. Hence, volatile and high volume trade days result in greater revenue and profit, regardless of the price direction of the underlying crypto assets.
Netcoins President, Mitchell Demeter, commented, “While the price movements of Bitcoin have been bearish, Netcoins’ trade volumes, as well as those in the overall market, have been exceptionally strong thus far in March. As Netcoins is a crypto brokerage, volatility that drives higher trading volumes bolsters our business. Since last Fall, we have been making steady progress on driving more retail customers, with a usual per trade range from $50 to $1,000, into our Netcoins app to increase trading volumes - which compliments our OTC business. We look forward to providing further updates as Netcoins and the crypto markets evolve in 2020.“
On behalf of the Board
Chief Executive Officer
About BIGG Digital Assets Inc.
BIGG Digital Assets Inc. (BIGG) believes the future of crypto is a safe, compliant, and regulated environment. BIGG invests in products and companies to support this vision. BIGG owns two operating companies: Blockchain Intelligence Group (blockchaingroup.io) and Netcoins (netcoins.ca).
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified® software at the heart of its platform and enables crypto transactions via retail locations globally, a self-serve crypto brokerage portal and an Over-The-Counter (OTC) trading desk.
Blockchain Intelligence Group (BIG) has developed a Blockchain-agnostic search and analytics engine, QLUE™, enabling Law Enforcement, RegTech, Regulators and Government Agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. Our commercial product, BitRank Verified®, offers a “risk score” for cryptocurrencies, enabling RegTech, banks, ATMs, exchanges, and retailers to meet traditional regulatory/compliance requirements.
BIGG Investor Relations
Certain statements in this release are forward-looking statements, which include completion of the search technology software and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of BIGG. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. Undue reliance should not be placed on the forward-looking information because BIGG can give no assurance that they will prove to be correct. Important factors that could cause actual results to differ materially from BIGG’s expectations include, consumer sentiment towards BIGG’s products and Blockchain technology generally, technology failures, competition, and failure of counterparties to perform their contractual obligations.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, BIGG disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, BIGG undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
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