UbcoinMarket SWOT Analysis

hatu (76)in #bitcoin • 6 years ago

UbcoinMarket is a new development by Ubank. UbcoinMarket will be a marketplace where purchases could be made using cryptocurrencies.

Read on to learn about this project’s strengths.

Ubcoin SWOT Analysis

SWOT analysis sheds light on the potential of a project.

UbcoinMarket has several strengths that provide it with powerful competitive edges.

UbcoinMarket is a development by Ubank, which is an established company with millions of active users for transactional purposes. A key issue a marketplace could face is convincing the market to transact on it. However, Ubank has a massive base of active users that already trust the company. This will allow UbcoinMarket to have an immediate market that trusts spending money on it.
UbcoinMarket is leveraging blockchain technology and that allows it to bring transparency and security to its marketplace. Buyers and sellers will be able to trade in a secure ecosystem.
UbcoinMarket is utilizing cutting-edge AI technology to pre-screen sellers. This allows it to safeguard consumer from scammers.

The cryptocurrency market is quite volatile as it is still in a growth phase. This means that products being sold on the UbcoinMarket might have higher margins that other markets.

However, this product allows the masses to save enough money by not having to convert crypto to fiat for purchasing products. The saved withdrawal, transfer, and trading fees involved in a single withdrawal are sufficient to off-set the higher margins in most cases.

The cryptocurrency market cap is worth hundreds of billions of dollars. So much money is flowing through this market and the believers of this technology yet very few companies are capitalizing on the community’s high purchasing power with cryptocurrencies.

UbcoinMarket is making a move to capture an untapped market. This potentially opens up door to selling products to millions of people across the world who happen to have large sums of money in non-fiat currencies. By being an easy and convenient way to expense cryptocurrencies for products, UbcoinMarket could swiftly draw in a large sum of customers.

Additionally, the crypto market is still in its growth phase. This means that UbcoinMarket is entering right at the dawn of this market’s adoption and growth. Such an entry is neither too early nor late. This will allow access to enough market to sustain sufficient revenues while not having to deal with competition.

Companies that participate in e-commerce happen to be major players in tech industry. This has allowed them to acquire large sums of money and they actively participate in acquisitions of small, new market entrants.

UbcoinMarket is an innovative solution to capture a massive market share that has been missed by industry giants like Amazon and Alibaba, which are two companies that have acquired many companies every year for the past several years. It is quite likely that UbcoinMarket could face an acquisition attempt from one of the existing e-commerce giants.

This is only a threat if you are part of the conservative decentralization community; from an investment perspective, this is a plus.

Wrap-Up: UbcoinMarket is a project that will greatly elevate the day to day utility of cryptocurrencies by allowing anyone to buy or sell products for crypto. The opportunity to be captured is massive and since this project has many strengths since it is building off an existing, established company, it is prepared to take on challenges that come its way.