Downturns in the stock market have led many investors to invest in gold, which resulted in an impressive price increase for the precious metal. Still, cryptocurrencies are far ahead. Now the Austrian neo broker Bitpanda has succeeded in launching its own index for top crypto currencies.
Just a week ago, FinTech announced the largest Series A financing round for an Austrian start-up this year. Bitpanda is now adding its own crypto index, the Bitpanda Crypto Index (BCI). Users interested in crypto can use the index to build a “diversified crypto currency portfolio” with the top 25 crypto currencies . The portfolio is regularly rebalanced depending on market changes. This means that the coins and tokens listed in the Bitcoin Revolution can also change monthly.
How does the BCI work?
Deposit crypto or fiat in the EU-licensed and regulated interest-bearing wallet from ArbiSmart. Earn a passive income. Depending on your chosen currency, your deposit amount and your account type, you can earn up to 45% interest per year.
The indices are not calculated by Bitpanda itself, but by the partner company MV Index Solutions, the index department of the leading asset manager VanEck . MVIS in turn obtains the data for this from CryptoCompare.
There are three versions of the BCI (including some DeFi tokens):
The minimum amount for a single purchase or sale transaction is 10 euros. If you combine the crypto index with a monthly savings plan, you can get it from 25 euros. The offer is therefore also aimed at a young target group with narrower wallets.
„It’s that easy“
With the Bitpanda Crypto Index we are launching a real game changer that will take the world one step further towards mass adoption of cryptocurrencies. Our solution here is to reduce the complexity of crypto investments. We did nothing else. It’s that easy. And so, not only do our indices make crypto investments super easy, but they also help build a diverse portfolio of assets. You can think of this as a mature, rate-free variant of crypto investments. When the market changes, the index adapts immediately, explains Bitpanda CEO Eric Demuth in a press release that BTC-ECHO has received.
D he introduction Bitpanda Crypto Index is only a week after, under the leadership of Valar Ventures, the fund from PayPal founder and billionaire Peter Thiel, 52 million US dollars could collect . The capital will be used to build on the 1.3 million users worldwide, to drive the expansion of Bitpanda and to position the Vienna-based FinTech as a leading company in the transformation of the European financial industry. It wants to ensure that in the future nobody will be accompanied by the feeling of “missing out on the next big thing”.