3 Common SPAC Cryptocurrency Targets

Space is no longer the final frontier in the world of cryptocurrency. In fact, if you’re a long time reader of this blog, you might have noticed the last two blog posts that I’ve written have all been about the Elite Dangerous and Elite: Dangerous space games. In both cases, the games have opened up a new frontier of space and are now fully embraced by the cryptocurrency community.

There are many reasons why cryptocurrency is becoming more and more popular. The main one is because of its remarkable benefits it offers. Cryptocurrency is a decentralized and borderless currency. This means that it does not require any particular country or government to use it. With cryptocurrency you can be sure that your money is secure and your finances are in your control. As much as it is amazing to have such power in your hands, you should be careful when using your cryptocurrency.

have been around for decades, but as the technology advances, so does the funding for many private companies looking to make their move in the cryptocurrency sector. On the other hand, there is a group of companies that focus on sponsoring companies with growth potential, based on their historical track record. These companies are called Special Purpose Acquisition Companies (SPACs).

What is SPAC?

According to highly respected SPAC economists at Marcum BP, SPACs seek to acquire or merge with a private company to raise capital through public SPAC IPOs (Initial Public Offerings). These IPOs are conducted by institutional and private investors, and once the funds are raised, the target company is deemed to have gone public.

Trading Robot

Many traders prefer to manage their assets manually in these targets, while others prefer to use software application interfaces or APIs for trading robots. Trading robots allow traders to create an account, sometimes only requiring an email address. Traders can also choose free or paid trading strategies to automate their trading, practice without risk of loss and even develop and apply their own trading strategies. Some trading robots include tutorials for beginners and tips for more experienced traders. CryptoHopper is considered one of the best trading robots that offers these and other features.

Crypto-currency trading bots like CryptoHopper offer automated trading strategies that traders can rely on to take care of their assets 24/7. It includes a free trial for newcomers to trading and offers a simple method for creating and setting up trading accounts. CryptoHopper offers trading strategies that can be used as templates for future trades. This trading robot is compatible with 13 exchanges, including public companies like Coinbase and private companies like Binance and Kraken. While Coinbase has already gone public, Binance, Kraken and Bullish (another competing brand) have not yet taken this step.

Let’s take a closer look at these publicly traded companies and why they are typical SPAC targets.

SPAC Cryptocurrency target company

1. Binance

Binance is considered the world’s largest cryptocurrency exchange and offers users a mobile app for daily trading activities. From buying and selling to tracking transactions, Binance lets you do it all on its secure, user-friendly dashboard. Designed for both beginners and advanced users, the application even allows you to automate investments according to your desired schedule. Despite regulatory challenges, Binance remains a leader in the cryptocurrency world and a destination for crypto-SPACs.

2. Octopus

By providing regulated access to exchanges like Bitcoin, Ripple, Ethereum and others, Kraken aims to gain notoriety. Kraken advertises low transaction fees to its large user base, making it a competitor to big cryptocurrency names like Coinbase. With a long track record, their secure platform provides financial stability and hope to SPAC’s sponsors who want to share in the success.

3. Bull

The latest news on the newest crypto-currency startup, Bullish, are official plans to merge SPAC with prominent investor and former NYSE chairman Tom Farley into Far Peak Acquisition Corp. Bullish has been in the spotlight since it emerged from software company Block.one in May 2021, with a capitalization of $10 billion and hundreds of millions of dollars raised from investors including Peter Thiel, the co-founder of PayPal. Bullish is a decentralized cryptocurrency that combines data protection and user compliance, and offers credit, automated buying and selling of securities, and portfolio management tools.

Supplement

If you research the common cryptocurrency companies that SPAC focuses on, you will find many names suitable for different levels of trading ability. You will also find that they are backed by great teams of reputable investors and resources who have a long experience in dealing with reputable companies. What they ultimately have in common is that both ordinary people and SPAC shareholders have invested their trust (and money) in these companies. All that’s left is to take these companies public and fly them to the moon.

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