The cryptocurrency market moves fast. During the last Bitcoin bull run in December 2017, many a crypto company witnessed this firsthand as excitement took over the market. These sharp increases in interest and price lead to sudden influxes of customers trying to use platforms like ours to join the new financial era.
Apart from the new joiners creating their first Bitcoin wallets, there were also traders already on the Exchange frantically executing trades. But what happens when the market is flat? What’re companies doing while the bears have their turn?
It’s the dawn of a new age and there is an entirely new ecosystem that needs to be built. One that acts as a bridge from our old outdated financial system to the digital future we deserve. The faster, cheaper, more inclusive, decentralised form of money that we believe will upgrade people’s lives.
So during this calm before the storm, we at Luno have been investing heavily in scaling (for the next bull run we’re sure will come). We’ve opened up new offices, launched in new countries and increased our team around the world by 200% (and we're not slowing down).
From our team that managed the bull run in 2017, we’re now much more robust, with even more robust technology systems reinforcing and expanding our rocket ship in preparation for the next run to the moon.
As the industry matures and more people join the future of money we expect volumes and customers to increase exponentially. So we’ve been busy scaling during these flat market conditions. All to make sure we can handle future bull runs quickly, safely and securely.
We’ve also been actively working with our banking partners and regulators to enhance the cryptocurrency industry as a whole. We are now one of only 3 exchanges that have conditional permission to operate in Malaysia, one of the biggest crypto markets, and support a series of moves towards regulating (and therefore securing) the industry.
We help build that industry together with teams of passionate experts from across the globe — people who work in crypto because they’re confident it’s the financial system of the future. Like all great things, it takes time to build, but when innovative ideas take off, it happens all at once. (There’s a reason the phrase ‘To the moon’ is so pervasive in the crypto community.)
The indicators for the beginning of a bull run can be subtle (and it’s far from an exact science), but knowing when the market is going to shift can be a lucrative skill. It’s why investors try to spot the signs of a market on the rise. Now once in a blue moon (we’ll stop with the moon stuff now, promise) you get to join in and help build a market that is still in its infancy. During our generation that market is cryptocurrencies.
We put our money where our mouth is and continue to push full steam ahead regardless of where the price may be. Because the truth is that it’s never too late to get started with crypto. It’s a long-term game and we have a long-term vision for what we see as an inevitable positive change that will impact humanity.
We’re scaling for the moment of truth, for the bull run that takes us to mass adoption and a stable market. Preparing for what we believe will be a sharp shift from using traditional financial systems to the next step in the evolution of money. We’re all very privileged to be stewards of this unprecedented and exciting evolution and we hope you will all join us. Are you ready?