Fumbi news
8. April 2020  • clock 3 min •  Fumbi Network

Fumbi has exceeded 10,000 users

About a year has passed since the launch of on the Slovak market. In this short period of time, Fumbi has managed to overcome several significant milestones, one of which is 10,000 users of our services.

We are very pleased with this interest in safe investing in cryptocurrencies and that it is us who people choose for this investment step of theirs. At present, the situation on the world markets is very complicated. The COVID-19 pandemic is the most followed topic these days. Coronavirus reports are more and more often accompanied by concerns about the economic crisis. Everyday information pour in on the decline of all financial markets, be it stocks, gold or cryptocurrencies.

This situation is difficult, but people understand that it will not last forever. This is one of the reasons why we have seen a large increase in new investors and, with the decline in the market, deposits from those who have been with Fumbi for a longer time.

Juraj Forgács, a Fumbi CEO, responds to the situation: “Of course, the health of the loved ones is paramount. At the same time, it is necessary to pay attention to one’s material security, as the coronavirus has slowed the economy down, which may cause problems in the form of a reduction in income. However, at the same time, we consider the current situation beneficial to investing in cryptocurrencies. Nevertheless, I certainly do not recommend investing for a short time or speculatively buy cheaply today and sell with a high mark-up tomorrow. To achieve greater appreciation, I recommend holding the investment long-term, ideally for at least one 4-year bitcoin cycle.”

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Fumbi in numbers

10,000 users are not the only data we in Fumbi can boast of. Our investors’ deposits average over € 600. At present, our portfolio consists of 26 active cryptocurrencies and the Fumbi algorithm deviation from market development has been less than 0.02%.

New Services

In the coming months, we are preparing several upgrades that will significantly improve the investment in cryptocurrencies. One of the first will be an instant deposit, so your deposit will be credited to your Fumbi account on the same day of you making it. Another service we are working on is Stop Loss, which will act as a safety net against a sudden and significant decline in the market.

New markets

Earlier this month, Fumbi successfully entered the Czech market. Another market we are about to tap into is the Polish market, where the interest in cryptocurrencies is significant.

What else is ahead of us this year in the cryptocurrencies market?

In May 2020, the next four-year cycle is going to end, which will bring about the bitcoin halving. This will result in a 50% drop in the volume of newly mined bitcoin per block. Bitcoin price expectations are associated with this event. The German Bayerische Landesbank even predicts an increase in bitcoin prices to pass the € 50,000 threshold.

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