Crypto bloodbath continues with negative figures but this is likely a boon for Australian based cryptocurrency exchange, Independent Reserve. The trading platform which has recently launched a cryptocurrency Tax Estimator is getting more positive about the brutal negative crypto market.
Andrian Pzcelozny, Chief executive of Independent Reserve, embraced the civil war and said:
“It has been a boon for the exchange.”
Often traders won’t see volatility as a negative move, rather they take it as a good opportunity to make money. In a similar regard, he said volatility is more potential than stability across the market.
The latest development of the crypto tax indicating tool is a collaborative innovation of the KPMG Australia and Independent Reserve. However, both firms have a conflicting statement regarding the present market scenario where KPMG cautioned Bitcoin should not be considered as a store of value whereas IR points out the matured age of crypto.
Przelozny says early adopters have paved the ways for new investors. He moreover showed the potentials of investors who are keen to get into more cryptocurrencies.
“There are a lot of applications that have not been explored yet,” said Mr. Przelozny.
The market sentiment is likely fortunate for Independent Reserve. On top of all, the firm is all set to begin an IR Venture which is a blockchain innovation hub and co-working space.
Source CoinGape