Cryptocurrencies, which is a type of digital asset, have captured the imagination of many over the recent years.
Dubai-based Kassim, after selling his earlier venture, online marketplace JadoPado to Noon.com in 2017, he founded Esanjo, which is a blockchain-based real estate asset management firm “pivoted to create, build and invest in crypto businesses.”
Speaking exclusively to Tahawul Tech, he said, “BitPado is an upcoming crypto exchange for the Middle East, Africa and Asia. We’re seeing a significant demand from across the region at this time for crypto exchanges.”
Super excited to announce that we're working on @BitPado, an upcoming crypto exchange and OTC market for the Middle East, Africa and Asia 🚀
— Omar Kassim (@okassim) January 21, 2018
Kassim said that the firm did not have a launch date for BitPado, which can be shared as of now.
Having emerged in 2009, Bitcoin is a cryptocurrency and the first global decentralised digital currency as the system operates sans a central bank. Over the last decade, the market has seen a prolific rise in the emergence of new cryptocurrencies.
BitPado is expected to use cryptocurrencies such as Bitcoin and Ripple
Kassim added that 2017 has been a “watershed year” for general crypto awareness globally.
“We expect this to continue to pick up pace over the course of 2018.”
The value of bitcoin has witnessed a staggering surge in the recent months, touching as high as $19,850 in December. This kind of rise has resulted in several financial institutions counseling on the risks of investing in the highly volatile cryptocurrency.
For those who are reluctant to invest in cryptocurrencies because of its volatility nature, Kassim advises, “Only invest what you can afford to lose. Also, don’t invest in anything that you don’t understand.”