Circle, like many companies in the bitcoin space, and startups in general, is venture funded and very likely not profitable. Nor are they trying to be profitable at this stage.
Right now, they're vying for users, and to carve out an important niche for themselves in the bitcoin ecosystem. They view bitcoin as a long-term game, and are probably not going to worry about monetization for years (for comparison, Twitter still loses money).
Note that Circle has raised over $25M in venture funding so far. I've also noticed that their buy price is usually about 1% higher than the highest bid on Bitstamp, though their support staff notes that that's not always the case, and just reflects how their weighting/pricing alg works (which is believable; they're probably doing some smoothed volume weighted multi-exchange avg).
Topic: Circle wallet (Read 420 times)
So I dont really understand how Circle is funded. Its great that there's no transaction fees and no advertising but it has me worried about how its being funded. I hope its not risky investments like the banking sector. They dont even have advertisements to pay for their existance.
Anyone know how they are funding themselves or have reservations about using their wallet ?
Anyone know how they are funding themselves or have reservations about using their wallet ?
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