People love New York for many reasons. The pizza, the history and crazy mix of cultures and excitement all in one bustling place. But now, you can add crypto investors to the long list of people that love New York. The city’s Economic Development Corporation will open a Blockchain Center in Manhattan and it’s going affect the industry one way or another.
NEW YORK CITY OPENS UP BLOCKCHAIN CENTER FOR CRYPTO INVESTORS
Last Thursday the New York City Economic Development Corporation (EDC) opened its Blockchain Center as part of a partnership with their affiliates Future/Perfect Ventures and the Global Blockchain Business Council. Furthermore, the city states that they may start testing the use of blockchain technology in the fall. Many crypto investors are both excited and confused that New York decided to open this center during a particularly difficult time for the industry. Is there something they know about crypto’s future that we don’t?
CRYPTO INVESTORS CELEBRATE; NEW YORK ON THEIR SIDE
From one angle, the crypto industry is in collapse. The price of tokens fell nearly 90 percent this past year with many startups giving up in the process. Yet behind the scenes, there is a different story. Large companies such as Walmart and Amazon are starting to implement blockchain technology while big Wall Street institutions like Fidelity are making crypto related deals. The use cases are growing and in the words of EDC chief Ana Arino, “we are playing the long game.” What she is saying is what many crypto holders have believed for many years. No one knows what the future really holds but they want to make sure they’re ready for it when the time comes.
ARE CRYPTO INVESTORS READY FOR THE FUTURE?
New York is getting ready for the future of cryptocurrency and blockchain technology but are you? You might think your large stash of crypto is losing value right now but don’t worry. There is a way for you to profit from your holdings now while setting yourself up for a nice bull run in the future. Take YouHodler for example.
This crypto backed lending platform is perfect for those crypto investors who want to think about the future. While we’re all waiting for the market to correct itself and go back up, put your crypto holdings to work. On this platform, you can put your crypto up as collateral and receive a cash loan in return. With an industry best loan to value ratio of 80% and near instant deposit times, you can receive cash in minutes to strengthen your portfolio or keep your mining business afloat. After paying back your loan, you get your crypto back as well as any profits you made in the process. Check them out today before the next bull run comes and you miss out.