As the blockchain industry matures, barriers to entry become lower. Even today, entering the market and safely investing in your favourite projects requires a fair bit of technological knowledge. Many of the big players within the industry have recognized this and are taking steps towards making crypto accessible to the masses.
Circle – founded in 2013 and backed by Goldman Sachs – is taking the blockchain world by storm. Just a few months ago they purchased US based exchange Poloniex for the sum of $400 million. They have since completed a series E round of funding with Bitmain, raising $110 million in an attempt to create a rival coin to Tether. Now they have announced the launch of a new service for new entrants to the industry. They call the feature ‘Buy the Market’ – which allows for individuals to invest with as low as $10 – divvied up according to market capitalization – between each of their supported currencies. All of these moves have led to Circle seeing their worth skyrocket in the last year.
The new feature is a simple concept, but an important tool for those not well-versed in the blockchain world. For those just starting off they can invest in 7 of the top currencies without needing to individually research all of them and determine which suits them best. They can rest assured that Circle has already vetted each of the currencies and deems them to be the most stable and have the brightest futures. In addition, they need not worry about the concern of whether these coins will be classified as securities. Circle has been working closely with the SEC on that matter, and ensures investors that this is not the case.
In an interview with Bloomberg, the CEO of Circle, Jeremy Allaire, commented on the new feature saying, “The vast majority of invested capital by individual investors and retail investors –the vast majority of any asset class, whether its stocks or bonds or currencies or crypto – is more passively managed. If you’re a newbie and you feel like you’ve missed out or you’re interested now in investing in this category, this is a tried-and-true model that’s worked in retail investing.” This is a different approach than rivals have taken thus far. Up until now, most have catered to accredited investors, overlooking new entrants into the world of investing.
This might seem like a simple, trivial service to some. It is services like this that need to be made available to continue adoption. Without them, growth will become stagnant within the industry. All avenues for the entrance of new money must be opened – whether this be from accredited investors, Wall Street, or individual newbies just looking to dip their toes in the industry.
For more information on the feature, you can visit the Circle website by clicking HERE.