The cryptocurrency market is growing, and it’s becoming more and more important for platforms to come together to share resources. As more partnerships form between exchanges, hardware wallets and other types of businesses, we’re likely to see even more progress made on improving customer experience and security as well as increasing adoption rates among the general public.
In this article we’ll see what situation we are currently in and what the future holds for us.
What are crypto platforms?
Cryptocurrency platforms are businesses that provide services to people who want to buy, sell or trade cryptocurrency. They usually offer a variety of services, including buying and selling cryptocurrencies, storing them securely and managing users' digital wallets (examples include Coinbase and Kraken).
If you don't already use these types of services, it's easy to get started with them: it's as simple as opening an account with your e-mail address, entering some personal information and linking a bank account for deposits and withdrawals.
Once you've done this, you'll be able to purchase bitcoins on the platform at whatever price they're currently trading at in your country's currency. And if you want more liquid assets than just BTC or ETH but not enough cash on hand? You can easily sell any other cryptoassets in your portfolio through these sites: you'll just need enough capital from other sources like PayPal accounts or credit cards so that when those trades settle down into fiat currency (like dollars), there's still enough left over for purchasing power via bank transfers or peer-to-peer payment networks like Venmo, Square Cash and Zelle.
How cryptocurrency platforms work
Cryptocurrency platforms are digital marketplaces where cryptocurrencies can be bought, sold, or traded. They're also known as exchanges. Cryptocurrency wallets are software programs that store your cryptocurrency in a secure way.
Cryptocurrency exchanges and wallets are two different types of platforms:
- exchanges act like stock markets for cryptocurrencies—they allow users to trade one type of coin for another, as well as convert fiat currency (like dollars) into crypto and vice versa. Exchanges generally don't store your funds: you have to transfer them out once you've made a purchase or sale on the exchange;
- wallets function more like banks do: you can deposit funds into them and they'll store them securely until you decide to transfer them back out again or spend them on goods or services elsewhere on the internet (or off).
Why crypto partnerships are so important
Cryptocurrency platforms are known for their disruptive nature. They don't follow conventional rules, and they can be very innovative in their approach to business.
Platforms often have a lot of potential, but this potential is limited by their own size and audience. By partnering with other crypto platforms, you can conquer new markets, get more users and developers on board, attract investors from outside your industry or even create entirely new industries around your product.
Partnerships could also help to increase security and stability in a market plagued by hacks and scams.
Cryptocurrency exchange platform partnership: the case of Binance and VIBEHub
There have been many partnerships between cryptocurrency exchange platforms, which can benefit the crypto community as well as improve the market.
For example, Binance (the world’s largest cryptocurrency exchange platform) teamed up with VIBEHub (a blockchain-based live entertainment ecosystem) to launch a new decentralized music and video streaming platform on their network.
This partnership allows VIBEHub users to stream music and videos for free with their tokens and also gives them access to premium content from artists who are signed onto the service. The more popular VIBEHub becomes, the more its token will be worth in market value; this encourages people to buy into it so that they can use its services for free or for a lower price than normal.
In addition, Binance gets exposure from having one of its partners on board with an established user base because people may sign up just because they want access to VIBEHub without paying full price or having no knowledge about blockchain technology at all!
Is the partnership trend likely to continue?
As you can see, partnerships between crypto platforms are a generally positive trend. Not only do they help to bring new users into the market, but they also expand the functionality of all involved platforms. The fact that many of these partnerships are designed to support common goals is just one more reason to expect them to increase in popularity over time.
In general, it's clear that both companies and individuals benefit from these types of collaborations: companies get access to new audiences, while consumers gain access to additional features or services at no cost.