Circle’s Crypto Investment Platform Adds “Buy the Market” Feature

Announcements, News | May 24, 2018 By:

Cryptocurrency platform Circle has added a new feature to its Circle Invest app that is targeted at new users.

The Circle Invest app was rolled out in 46 states across the US in March of this year. The app provides retail investors with exposure to Circle Trade, the company’s high-volume institutional trading desk. Users can purchase and invest as little as $1 and the service does not command a fee. The app supports a handful of cryptocurrencies including bitcoin, Bitcoin Cash, ethereum, Ethereum Classic, Litecoin, Monero and Zcash.

On Tusday, the Circle Invest app launched  a new feature called “Buy the Market.” The tool allows users to buy all cryptocurrencies available on Circle Invest, weighted depending on their respective market capitalization. To create a crypto portfolio, all a user has to do is to enter the amount of USD they want to invest and the app will automatically calculate and distribute the investment sum.

Circle senior product manager Rachel Mayer said the new feature is the culmination of all they’ve been doing since the soft launch.

“It’s trying to solve the problem of signing up and trying to be a newbie investor and you’re not sure how much to put in and where and why,” Mayer said. “Buy the Market is just a very easy way to invest in the seven supported assets on Circle Invest, you choose the funds you’d like to invest in, and we do the rest. We automatically divide the investment into each specific coin market cap waiting and you can purchase the coin instantly.”

Mayers said that while other crypto products allow users to invest in market weight distributed fashion, they are accompanied by high minimums and 3% management fees. She said Circle Invest removes all this friction, making investing in multiple coins at once available for anyone at the same competitive pricing they deliver on all of their coins.

Last week, Circle announced that it had raised $110 million in a financing round led by Chinese crypto mining giant Bitmain. The funding will be used to create a new cryptocurrency pegged to the price of the US dollar, which is meant to solve a key problem in digital currencies’ use case: volatility.