A new cryptocurrency investment platform, BitFund, has been established in South Africa.
BitFund provides investors with 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.
The new exchange offers investors an easy-to-use, single point of entry to structure a portfolio and securely stores these locally off the international exchanges in hardware digital wallets which are in turn stored in physical vaults to significantly reduce the threat from online hackers.
With a flat annual management fee of 2.4%, a 1% exit fee and a minimum investment amount of R1,000.00, BitFund investors are assured that their funds will not be depleted by hidden costs.
“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,” Miltz says.
“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.
Experts predict that the total cryptocurrency market value could reach $1 trillion by the end of 2018 which is why cryptocurrencies are believed to be an attractive alternative investment option by many.
“For the first time, investors with limited or no cryptocurrency trading experience who are interested in diversifying their investments can successfully access a multitude of cryptocurrencies in a safe and simple way,” Ferrer says. “All the complication of cryptocurrency trading has been removed in a transparent user-friendly interface.
“We provide relevant reporting to ensure auditability and transparency into portfolio holdings and rebalancing at a transactional level,” he adds.