BIGG Digital Assets runs a crypto-security solution provider as well as a crypto trading platform through its subsidiaries.
It is listed on the Canadian stock exchange and the over-the-counter (OTC) market. Its unique services are offered in cryptocurrency compliance, security, and risk-monitoring services.
What does BIGG Digital Asset do?
BIGG digital asset inc. Is a Canadian blockchain tech firm that is listed on the Canadian stock exchange and over-the-counter (OTC) market as well.
BIGG’s CEO is Mark Binns and the company has recently produced stellar revenue figures although its net income still remains negative that can be expected from a growing firm anyway.
BIGG digital asset inc. or BIGG prides itself in believing in the future of cryptocurrencies. It is a firm believer that cryptos will dominate the trading and investment world. BIGG Digital Assets aims to bring security and accountability to cryptocurrency transactions, with the services it offers.
The BIGG also believes in the secured and safe use of transformational blockchain technology. It also enables the secure trading of cryptocurrencies through one of its subsidiaries.
Mainly, the BIGG focuses on two key sides of the crypto world: Crypto trading and crypto security. BIGG Digital Assets offers both of these solutions through two different subsidiaries.
What Does BIGG Digital Asset Offer?
BIGG develops blockchain technology and offers cryptocurrency security solutions. It also offers developing crypto exchanges and markets.
BIGG digital asset owns two operating companies that offer crypto trading and crypto-security solutions.
Cryptocurrencies often face resistance and criticism due to security concerns with their decentralized blockchain technology.
BIGG Digital Asset’s Blockchain Group helps financial institutions, crypto companies, regulators, and law enforcement agencies to help mitigate crypto risks and security concerns.
Blockchain Group’s flagship services include:
Bitrank Verified is the flagship solution offered by Blockchain to monitor cryptocurrency transactional risks. This program follows 350,000+ cryptocurrency tokens according to their official word.
Bitrank is used by government agencies, regulatory authorities, and regulators for cryptocurrency transaction monitoring. It also helps track large crypto transaction data and analysis.
One of the main challenges with cryptocurrency regulation is its decentralized control of blockchain technology. It makes the crypto world unique and risky at the same time.
Additionally, QLUE is a program that helps regulators track crypto transactions. It means they can catch illicit transactions with this powerful technology.
Netcoins is the crypto exchange developed by BIGG digital asset inc. It acts as a crypto trading platform to facilitate traders. Netcoins is unique in the sense that it also helps develop trading platforms, crypto exchanges, and crypto ATMs worldwide.
As stated, Netcoins uses the flagship software Bitrank to provide a secured crypto trading experience to its users.
What Makes BIGG Digital Asset Inc. Unique?
BIGG’s unique advantage against its competitors is that it caters to two vital fields in the crypto world.
First, it offers a crypto trading platform to enable and attract investors. Netcoins make up most of the total revenue for BIGG as well.
Second, it offers competitive crypto compliance, security, and risk-monitoring platform that is growing in popularity.
Let's take a glance at its main competitors.
BIGG Digital Assets Competitors
BIGG’s market is relatively new and it does not offer stiff competition at the moment. However, the technology is not solely unique to BIGG digital as the threat of new entrants is always eminent.
A brief on some of the major competitors of BIGG.
- CipherTrace: Founded by Shannon Holland in 2015, CipherTrace claims to be the world’s first blockchain forensic team.
- Chainalysis: A blockchain data platform that provides security and compliance services to financial institutions, regulators, and government agencies around the world.
- ELLIPTIC: It was founded in 2015 to provide blockchain data analytics. The company claims that it covers 98% of the total cryptocurrency transactions and screens almost 1 billion transactions weekly.
Financial Overview of BIGG Digital Asset Inc.
BIGG digital assets recently announced its fourth-quarter financial results (unaudited). Let’s see some of the key financial metrics from its results.
(All figures in CAD $)
- Gross operating revenue of $ 3.3 million for Q4 and $ 14.2 million for FY 2021.
- A 32% growth of customer accounts QoQ.
- BIGG Digital Asset’s cash and crypto holding stands at $ 62 million with zero debt.
- The company currently holds 500 Bitcoins valued at approximately $ 26.8 million.
- Netcoins full-year gross revenue increased by 717% to approx. $ 12.6 million.
- Blockchain Intelligence Group’s full-year revenue increased by 62% to reach $1.6 million.
- BIGG’s OTC share price stands at ~US$ 0.67 with a total market cap of US ~US$164.592 million.
Despite tremendous growth, BIGG still faces negative net income or net losses currently. However, it can be expected of any growing company that focuses on growth rather than retaining profits.
Is BIGG Digital Assets a good investment?
At this point investing in BIGG Digital Assets means having large exposure to cryptocurrencies, and that might not be a good investment for everyone. Since the company works directly with Blockchain technology, it even owns Bitcoin. Therefore, investors that do not have a bullish view of cryptocurrencies should not invest in BIGG.
Investors that are interested in getting exposure to cryptocurrencies, and that strongly believe they will continue to be incorporated into our financial system should consider an investment in BIGG Digital Assets. However, it should be said that the company is currently growing at a huge pace, as we see by triple-digit growth rates.
Despite that, the company still lost money in some quarters last year, as it tries to invest to grow even further. It is also an extremely positive sign that the company is growing at an astonishing pace, and has even delivered profits in some quarters. It is certainly a stock to watch over the coming years, as cryptocurrencies become mainstream.
Investors should also consider that this is an incredibly recent industry, and over time several competitors will try to gain market share, and enter this space. Thus, given the company's revolutionary services, many digital asset investors have this stock on their watchlists.
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