Uber Founder Steve Ehrlich Announces Foray into Crypto Exchange Business with Voyager

2019 seems to be starting with good news for crypto enthusiasts as the former CEO of E-trade and founder of Uber, Steve Ehrlich has announced the launch of his new cryptocurrency exchange venture called the Voyager. The new exchange has offered some unique propositions to lure the investors. One, Voyager is offering $25 in Bitcoin to the new folks who will register on the exchange. In addition to this offer, the exchange is also providing the facility of free trading without charging any fee. Now in the cryptocurrency market which is already experiencing a constant upheaval with most of the digital coins down considerably, these offers from Voyager is sure to attract a lot of new cryptocurrency investors. It will be interesting to witness the response of investors towards the new exchange started by a well-known name in the tech-industry even as large numbers of such platforms are already grappling for attention amidst the ongoing fierce competition.

Voyager’s Strategy

The objective of Voyager is to attract individual as well as institutional investors in the cryptocurrency market. What makes the success of Voyager likely is that the platform allows the investors to trade from over a dozen leading cryptocurrencies. This large number will help the investors to diversify their portfolios in order to minimize the risk in the turbulent crypto market. Voyager strives to become a major player in the cryptocurrency market; however, in order to accomplish this, it requires unique strategies with strong operational plans. Given the fact that crypto market is already down and the investors’ confidence in the digital currencies is shaky at the moment, Voyager has got its task cut out for 2019.

One of the strongest credentials that Voyager can boast about is the rich experience of Ehrlich who has acted as a driving force behind the success of Uber and E-trade. Institutional investors are bound to pay close attention to this new venture of Ehrlich as they are well versed with the working style and philosophy of the Uber’s founder. The growing market interest in the cryptocurrency, as well as blockchain technology, is also going to be a positive sign for the new platforms like Voyager although the constant downfall in the market value of the cryptocurrencies that we have witnessed in 2018 does pose its own set of challenges.  Many experts believe that after recording historic rise in 2017, the turbulence of 2018 came as a real test for the investors. With the launch of this new exchange, which is attracting quite a buzz from the investors, one thing becomes abundantly clear – cryptocurrency is here to stay for a long time and is not going anywhere.

Rivals and Competition

The new Voyager exchange is pitted against the likes of Coinbase, Binance, and Robinhood among others. All these rivals are quite formidable and offer good value bundled with various promotional schemes to attract the investors. So, how will Voyager strategize to win over the others? The one real advantage Voyager has up its sleeve is the credentials of its leadership team and to make the deal sweeter, the exchange is offering one of the best sign-up schemes for the people who will register with the platform before it launches in January 2019.

At this point, it is quite difficult to gauge whether the Voyager will find favor among the investors or not. The leadership credential is one thing that is clearly going in their favor with Ehrlich at the helm even though the challenges are no less in their intensity. The vision of the cryptocurrency exchange is to have a successful run in the long-term; however, only time will tell whether it can achieve it or not.

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