Already 2,069 people have seen this company's branding and they are being followed by 10 Storybook user.In average the company has been rated 4.7 points ja kommenteeritud 119 korda.

's activity report 2022

Introduction

Bitsgap Holding OÜ offers a self-service online web-based platform that connects cryptocurrency financial instrument exchanges via API and allows its clients to perform transactions in various exchanges from one place.

In 2022, the company continued to invest in the development of the platform and the expansion of its features, and launched a completely new product with which the company plans to strengthen its market position.

Structure

The company mainly relies on Estonian capital and the shareholders in the company are both physical and legal entities.

The company has a flexible and transparent structure and it owns one subsidiary company, which is not active and is undergoing a liquidation process.

Macroeconomics In 2022, the world economy faced several challenges and problems, the most serious of which was rising inflation worldwide. This led to an increase in interest rates and a decrease in the value and interest of risky assets (including digital assets). As a result, sales revenue began to decline in the second half of 2022. Currently, there is a noticeable decrease in inflation rates and, more importantly, inflation expectations, which suggests that the peak of inflation may have already been passed. At the same time, there is a risk of a global economic downturn. This could have a negative impact on company revenues worldwide.

Foreign currency risks

The company has no foreign currency risks related to its main activity, but at the same time, some of the funds, which are invested in financial investments and money market funds (21%), are exposed to the risk of the US dollar exchange rate difference.

Regulation On 15.03.2022, a new version of the Money Laundering and Terrorist Financing Prevention Act ("RahaPTS") came into force, which expanded the list of regulated virtual currency services. But the company does not

provide the service stipulated in RahaPTS, so the company has no obligation to apply for an operating license in connection with this regulation.

At the same time, the European Parliament is processing a draft regulation concerning cryptocurrency markets ("MiCA").

It is expected that MiCA will be adopted by the European Parliament in April 2023, which may introduce new regulations.

Security In 2022, the company also faced challenges in ensuring the security of the platform and customer accounts due to increased hacker activity. Thanks to a serious approach to security issues, the company, unlike some competitors, managed to prevent data leakage from the platform. The company continues to pay more attention to this issue.

Seasonality and ecology

The company's activities are not dependent on seasonal factors and have a very limited impact on the environment, and use welfare and common ways to eliminate possible negative environmental impacts.

Revenues, expenses and profit In 2022, Bitsgap Holding OÜ's sales revenue amounted to 17,996.1 thousand euros. 100% of sales revenue came from the sale of services.

The company operates in the global market and target regions are Western Europe, North and West America, Asia