Mr. Greg Feller reports
MOGO REPORTS 135% INCREASE IN BITCOIN TRANSACTION VOLUME IN NOVEMBER
Mogo Inc. had a 135-per-cent month-over-month increase in the dollar value of bitcoin traded on the Mogo platform from October, 2020, to November, 2020. This follows on the company's previous announcement that Mogo bitcoin accounts increased by 237 per cent year over year in Q3 2020.
"The strong performance of bitcoin and its growing credibility as an asset class have fuelled rapid growth in transaction volume and new bitcoin accounts on the Mogo platform," said David Feller, Mogo's founder and chief executive officer. "Although bitcoin has now been around for just over 10 years, it's still early days for this new asset class as most Canadians have yet to own it. The introduction of bitcoin trading by leading digital players in the U.S., combined with the overall rise of digital currencies, has significantly increased the interest in bitcoin among Canadian consumers."
Greg Feller, president and chief financial officer of Mogo, added, "As one of the pioneers in Canada and the only well-established publicly traded Canadian company offering a simple and low-cost way to buy and sell bitcoin, we are in a unique position to meet this rising demand through our award winning app that offers a number of innovative products to help Canadians manage their financial lives."
MogoCrypto, launched in 2018, is the easiest way to buy and sell bitcoin in Canada. It enables members to buy and sell bitcoin at real-time prices instantly through the Mogo app, 24/7 from their mobile device, bringing a new level of convenience and accessibility to bitcoin ownership for all Canadians. Users can sign up for free and, in three minutes, open an account, have the account financed in as little as 30 minutes with no financing fee, and begin buying and selling bitcoin. As part of the company's current promotion, new Mogo members get $5 just for opening their account. MogoCrypto is available through the free Mogo app, on iOS or Android or on the Mogo website. Mogo was recently named best cryptocurrency app by savvynewcanadians and featured by Apple as "one of the apps we love."
About Mogo Inc.
Mogo -- a financial technology company -- offers a finance app that empowers consumers with simple solutions to help them get in control of their financial health and be more mindful of the impact they have on society and the planet. Users can sign up for a free account in only three minutes, begin to learn the four habits of financial health, and get convenient access to products that can help them achieve their financial goals and have a positive impact on the planet. Members can also easily buy and sell bitcoin 24/7 through the Mogo app, as well as participate in Mogo's new bitcoin rewards program. The Mogo platform has been purpose built to deliver a best-in-class digital experience, with best-in-class products, all through one account. With more than one million members and a marketing partnership with Canada's largest news media company, Mogo continues to execute on its vision to gamify financial health and become the go-to financial app for the next generation of Canadians.
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