The deVere Group Steps Up Its Cryptocurrency Operations

February 28, 2018         By: Steven Anderson

We’ve been following the deVere Group’s expansions into the cryptocurrency market for some time now—mainly because they keep tipping us off about ongoing operations, as they did this time around—and their recent launch of the deVere Crypto system offered users a way to keep bitcoin, Ethereum and Litecoin readily on hand. Now, the group has added two new cryptocurrencies to the system: Dash, and the new upstart currency known as Ripple.

Ripple represents the third largest cryptocurrency by market cap out there, while bitcoin and Ethereum make up the first and second slots respectively. Dash, meanwhile, comes in at number 11 as of this writing, which makes me wonder why they didn’t just go with something closer.

The deVere Crypto app is expected to see 50,000 downloads this year, which may be fairly light for an app—back in 2011, Rovio announced 500,000,000 downloads of Angry Birds—but with likely growth on the cryptocurrency front, this could be just the beginning.

Nigel Green, founder and CEO of the deVere Group, noted that the deVere Group had specifically analyzed the currencies included in the app, including the new additions. Since the deVere Group’s Crypto app is currently supported by its research department, which features 10 of the “…world’s leading blockchain and crypto experts,” it’s easy to see there were clear motives in adding Ripple and Dash.

Ripple and Dash are indeed fine cryptocurrencies, by most common measures. While Ripple has held a fairly stable value, fluctuating between $4 and $1 a coin for some time now, Dash’s value exploded back in January, briefly clearing the $1,600 per coin mark. Why these two were selected isn’t immediately clear beyond the whole “we’ve vetted them” that deVere Group noted, but there’s likely no downside in adding them. Ripple has been popular for some time now and held a steady value, and Dash, at last report, can be mined on the Hashflare cloud mining system.

This likely won’t be the last time we see new currencies added to the deVere Group’s systems, and that only serves to make the app more versatile and useful overall. Given the number of competitors already in the crypto space, however, the deVere Group is going to have to get cranking to really maintain a presence in the field.