Vancouver, British Columbia--(Newsfile Corp. - February 9, 2021) - NetCents Technology Inc. (CSE: NC) (FSE: 26N) (OTCQB: NTTCF) ("NetCents" or the "Company"), a cryptocurrency payments company, is pleased to announce that its trading volume (purchases and sales of cryptocurrency) and user deposits on the NC Exchange exceeded $4 million in January 2021, setting a new monthly record.
The NC Exchange has seen significant growth both year-over-year and month-over-month in January 2021:
- $4,168,599 in trading volume and user deposits
- Month-over-Month increase in trading volume of 416%
- Year-over-Year increase in trading volume of 3,292%
"Over the past two years, our focus has been on building merchant and partner acquisition and increasing merchant processing volumes, both of which have been growing rapidly over the past year," stated Clayton Moore, Founder and CEO of NetCents Technology. "Heading into 2021, we are fine tuning our exchange product in support of our payment processing business - the early results of this effort are already paying off as demonstrated by large increases in volume on the exchange. This strong trading activity is another validation of our financial ecosystem growth strategy, and perhaps our high-quality software design and user experience."
The Canadian and global cryptocurrency markets continued to advance in 2020 and some of the biggest investors in the recent growth in cryptocurrency are institutional investors according to a report from PYMTS1. Despite the recent price volatility, Bitcoin is still up over 315% in the past year and NetCents management expects it to stay at these levels, based on support caused by growing adoption of both institutional investors and the entrance of major payment companies into the space.
"This growth doesn't surprise me as I look at the growth of the overall market. Bitcoin just finished one of the biggest years in its history and we anticipate that it will continue to rally in 2021 thanks to the new surge of interest and developments in the space. At the same time, Ethereum has increased over 800% in the last 12-months," added Mr. Moore. "Cryptocurrency is clearly here to stay, and we are excited to remain at the forefront of this rapidly growing market."
About NetCents
NetCents Technology Inc, the transactional hub for all cryptocurrency payments, equips forward-thinking businesses with the technology to seamlessly integrate cryptocurrency processing into their payment model without taking on the risk or volatility of the crypto market. NetCents Technology is registered as a Money Services Business (MSB) with FINTRAC.
For more information, please visit the corporate website at or contact Investor Relations: .
On Behalf of the Board of Directors
NetCents Technology Inc.
"Clayton Moore"
Clayton Moore, CEO, Founder and Director
NetCents Technology Inc.
1000 - 1021 West Hastings Street
Vancouver, BC, V6E 0C3
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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