European digital currency exchange Coinmetro has introduced a new ‘swap feature’ to let investors buy their own portfolio without needing to buy each coin or token individually.
Coinmetro, founded in 2018 in Tallinn, has previously offered dollar-cost averaging (DCA) to traders as a way of mitigating unpredictable market conditions. But this has been limited to recurring purchases on the same asset.
According to the exchange, if a customer typically wanted to invest a fixed monthly amount into a portfolio (e.g 40 per cent into Bitcoin, 40 per cent into Ethereum, and the rest spread between 20 different altcoins), they would have to purchase every single coin separately and calculate how much to invest into each one. This would require up to 22 separate trades to be done every single month.
With Coinmetro’s new solution, users can increase their portfolio size without affecting the asset mix, and do so in one single trade, with three steps. Customers can simply log on to their account, go to Swap widget and choose to swap into My Portfolio instead of investing in each cryptocurrency individually.
Simple approach
“For many people, the world of cryptocurrencies can seem like an exclusive club, or fortress of complexity, and while neither of these things are strictly true, it’s easy to see why some people feel this way,” says Oliver Goble, head of product at Coinmetro. We see this as a problem of design, a problem that can be solved, and are always looking for ways to increase access to crypto with better products that offer more simplicity.”
“Our community is always telling us that they are looking for shortcuts to do complex things quickly, and this is one of those things that traditionally has taken a lot of unnecessary time. Now, when payday comes around, investors can increase the size of their portfolio evenly without needing to complete a transaction for every single one of its component parts.”
Coinmetro’s Swap widget enables users to buy and sell close to 50 cryptocurrencies. The company is also developing ‘many more’ DCA products and simple portfolio building and managing tools, which will be available to traders in the upcoming months.
Image and article originally from thefintechtimes.com. Read the original article here.