Netcoins provides corporate update; q4 transactional revenues hit cad $27 million – netcoins

During fourth quarter of fiscal 2018, Netcoins generated over CAD $27 million in transactional revenues through its Retail, Portal and OTC lines of businesses. Netcoins annual fiscal 2018 revenues hit CAD $59 million, representing a 400%+ year-over-year growth. Comparatively, the price of Bitcoin dropped during Q4 from approximately USD $6,500 to a low of nearly USD $3,000 per Bitcoin. Netcoins continues to demonstrate significant transactional revenues regardless of the overall volatility with cryptocurrency valuations.

During December 2018, Netcoins launched a self-serve buying portal. This online portal enables both retail consumers and investor clients to purchase over twenty different cryptocurrencies.

Users are able to create an account and place orders after completing an automated KYC process. We believe this is the world’s first convenient “fiat to alt-coin” purchasing platform. Typically, alt-coin traders are required to first purchase either Bitcoin or Ethereum, and convert into an alt-coin via a separate exchange. Netcoins now greatly simplifies the process with the ability to buy direct using fiat balances using its proprietary self-serve online portal.

Netcoins continues discussion with multiple leading Dealer-Brokerages in Canada to enable Canadian investors to buy and sell crypto from their cash trading accounts using their traditional brokers. Netcoins also continues to work with IIROC, the BCSC (as point for all Canadian Securities Associations) and the CIPF to bring a regulated and safe product to market, allowing investors to buy crypto through their traditional investment accounts. Netcoins also secured BitGo as a custody partner, in part to enable this line of business.

“Despite a very difficult Q4 in crypto values, Netcoins continues to thrive. Our top line revenue continues to grow, and we welcomed our new online purchasing portal to the product family. We have taken tremendous steps in 2018, from a modest start of CAD $2 million monthly during Q1 to as high as CAD $10 million monthly revenues during 2018, building a solid foundation for 2019 and beyond,” said Netcoins CEO, Mark Binns. “Our revenue curve from Q1 to Q4 2018 demonstrates our value proposition, even in a bear market. 2019 holds tremendous opportunity for Netcoins on multiple fronts, including organic growth and potential strategic acquisitions. We look forward to providing more updates on our progress in 2019.”

This information release contains certain forward-looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward-looking statements are based on the Company’s current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.