Recently, the Norwegian Block Exchange, NBX, issued an announcement saying that it plans to become the first crypto platform in the Nordic countries to list its shares on the pan-European Euronext stock exchange. Created in 2018, it has quickly become one of the prominent exchanges in the region.
There are eight cryptocurrencies listed on the exchange and over 20 trading pairs available for crypto traders. The exchange has received approval from the Financial Supervisory Authority of Norway and offers traders high-quality and secure services.
In addition, the crypto exchange claims that it is the only platform among the Nordic countries to offer their clients a special insurance plan, which is the Ledger Vault, an insurance pool of $150 million. The safety fund is aimed at ensuring the safety of crypto traders and making sure that the individual investors are covered under any circumstances.
The crypto exchange has also announced last year that it has raised over $6.6 million via its equity and sale. In addition, the company said that it would not be raising any further capital while anticipating the Euronext listing.
The data released by the crypto exchange about the performance over the past year indicates that the market ca[italization of the company has surged over 142 percent, amounting to as much as $56 million. The company claims to have over 25,000 customers, and during the first nine months of the year, NBX noted to have processed over $101 million.
What Makes Crypto So Popular?
There are many reasons why so many people are attracted to the crypto trading market around the world. One of them is that it has become very easy over the past few years to become part of the crypto trading market.
All it takes for crypto-traders today to get started in the market is to find a crypto exchange that they can trust. There are numerous options available in the market and these exchanges offer traders the opportunity to buy, hold, and sell cryptocurrencies using one platform.
Also, the majority of the crypto exchanges in the market offer traders the opportunity to use automated trading programs. These trading robots offer individuals the opportunity to analyze the market in a matter of minutes and make profits without having to sit in front of their computer the whole day.
Crypto trading robots are using API keys to connect with your exchange account, which makes them secure and safe to use. With an automated bitcoin trading robot you get the chance to make profits from the crypto trading market while also being able to go on with your day.
When it comes to market analysis, there is always some type of limitation that people have for the amount of data they can analyze on their own in a short time. On the other hand, there is no such limitation for traders who are using automated trading robots.
Crypto Adoption in Nordic Countries
The past few years have been very important for the crypto trading industry around the world. Countries in different parts of the world have reported an increasing number of crypto traders and very large crypto transactions.
The market is developing very fast in almost all parts of the world, and of course, Nordic countries are not an exception. All of the Nordic countries, Finland, Norway, Sweden, and Denmark have a lot to offer in terms of blockchain and cryptocurrencies.
The first time the crypto industry caught the interest of the Norwegian government was back in 2013 when the country issued the first warning about the risks of digital assets.
Over the past few years, the market has developed rapidly in the country, attracting millions of locals to the market. While the Nordic countries still lack comprehensive guidelines on the way crypto trading should be done, the popularity of crypto-assets continues to grow rapidly among the citizens of the Nordic nations.
One of the reasons why crypto trading has managed to become so popular in the Nordic country is the stance that the government of these countries has decided to take. The crypto laws adopted by these countries are not rough at all.
It is completely positive, the governments are a lot softer, especially compared to some other jurisdictions around the world. For example, the regulatory agency of Norway does not heavily regulate the crypto trading market, it only ensures that such companies do not participate in money laundering activities.
As for Finland, there are less than 10 companies that are registered to have the ability to operate in the digital currency space. The situation in Sweden is very much similar to the one in Norway, in fact, Sweden has recently launched its first Polkadot exchange-traded product on the Nordic Growth Market exchange.
The same can be said about Denmark as well. Locals have the ability to easily and freely trade cryptocurrencies, without facing any actual restrictions in the market. Also, the Denmark regulatory agency calls on individual traders to be cautious when dealing with digital assets. However, the regulator does not support any type of intervention in the activities of the crypto exchanges.
As the crypto trading market continues to become more popular around the world, it is expected for traders globally to have more opportunities for making profits from the market. The steps taken by the institutions like Norwegian Bank Exchange help the market to become more mainstream than ever before.