Circle Invest, the cryptocurrency investment platform from the peer-to-peer payments technology company, has added new “Collections”, offerings with multiple crypto-assets clubbed together.
Additional Options Available
The firm announced the launch of more options to the collections offering earlier on Thursday, through a blog post. According to the announcement, three new options – Platforms, Payments, and Privacy are now available in addition to the earlier offering called “Buy the Market”. All these options allow the users to buy a collection of cryptocurrencies with a single click.
As per the announcement, the categorization is based on the different functionalities catered by the digital currencies. It further explains:
Many projects aim to solve similar real-world problems, but take vastly different approaches to get there. Projects like Bitcoin, Bitcoin Cash, Stellar, and Litecoin are trying to build superior payment rails based on blockchain technology so that making payments is as easy, instant, and as borderless as sending an email. If customers are passionate about this category of assets and want to invest, they can simply buy the Payments collection.
Each asset on the collection is weighted by the market capitalization at the time of purchase.
Simplifying Crypto Investments
The Goldman Sachs backed firm has been trying to make it easier for investors to get started in the digital assets space through its app-based platform. The company says that 30% of its existing customers use the “buy the market” option.
The firm plans to launch more collections in the future as the blockchain space evolves and more use-cases are discovered. The blog elaborates:
As crypto evolves, more projects will be kicked off to apply blockchain technology to various use cases. As we continue to list the crypto assets associated with the projects on Circle Invest, we will also introduce new collections and relevant educational material so that customers can invest in the categories that most interest them.
Competing for Market Share
The announcement comes just a few days after Coinbase launched its similar “Bundle” offering which allows a customer to invest in all the assets available on the platform in a single transaction. Both platforms currently have a limited number of assets and are looking to add more coins.
Circle Invest currently offers 11 assets in addition to the four collections. The available coins include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC), Litecoin (LTC), Zcash (ZEC), Monero (XMR), Stellar (XLM), 0x (ZRX), Qtum (QTUM) and EOS (EOS). Investors can start with an investment as low as $1.
Circle Invest with this move has taken cryptocurrency investments one step ahead in an apparent bid to outsmart the competition.
Do you think clubbing crypto-assets together into collections will attract investors? Let us know in the comments below.
Images courtesy of ShutterStock and Circle.com