BitFund, a new South African cryptocurrency investment platform, has developed a diversified cryptocurrency investment platform that gives investors exposure to index portfolios of more than 20 of the largest cryptocurrencies.
Founded by Joshua Miltz, Jonathon Ferrer, Bradley Goldman, and Dean Joffe, BitFund offers investors an easy-to-use, single point of entry to structure a portfolio that includes cryptocurrencies such as bitcoin, Ethereum, Ripple, Litecoin, IOTA, EOS, Cardano, Stellar, NEO and others.
“In South Africa, the only safe and easy way to get investment exposure into cryptocurrencies is through buying bitcoin and Ethereum – and these are currently only available through a single exchange,” explains Miltz. “Most potential investors lack the technical knowledge and confidence to manually purchase the lesser known cryptocurrencies on international exchanges, but BitFund makes it possible for them to do so.
“Through BitFund, we manage all the tax-related, exchange control and technical due diligence of investing in multiple cryptocurrencies, keeping costs down and maintaining strict security. We have also dealt thoroughly with the legal and regulatory compliance of cryptocurrency investment,” he adds.
“The BitFund website has been designed to be safe and simple to navigate, opening up cryptocurrency investing to more people.”
BitFund has created three pre-specified BitFund portfolios. They are:
* The Balanced 10 Portfolio, which holds each of the top 10 largest cryptocurrencies weighted by their market capitalisations;
* The Equal 10 Portfolio, which holds each of the top 10 largest cryptocurrencies with equal weighting of 10% each; and
* The Capped 20 Portfolio, which holds each of the top 20 largest cryptocurrencies, weighted by their market capitalisations, with a maximum of 15% per cryptocurrency.
The company manages the purchase, sale and safe transfer of the cryptocurrencies within the different portfolios and securely stores these locally off the international exchanges in hardware