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Top 7 Services For Passive Investing In Crypto

23 August 2019 16:23, UTC
Top 7 Services For Passive Investing In Crypto
By Denis Goncharenko

You want to invest in cryptocurrency, but you don't know how to begin? We have gathered the seven most popular and noteworthy platforms and mobile applications that enable to invest in cryptocurrencies in one place.

Before we start, we have to say that cryptocurrency exchanges that are designed for active traders rather than investors looking for passive income are not in the list. You will also not find wealthtech market mastodons such as Stash or Acorns there since they do not provide investors with the opportunity to invest in crypto.

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The ranking was made by searching for “crypto passive investing”, “services for passive investing in cryptocurrencies” and so on, excluding projects that are not working anymore. We have also dismissed projects that made token sales (ICO, IEO, no matter) — too often such startups don’t show any products. Also, we considered adding Robinhood to the list, but while there is an option to invest in this app in top cryptocurrencies, Robinhood looks like a player from another league with the positioning as a developer of a new era brokerage services. Thus, these guys are good in another ranking.

Revix

Revix is a fresh British startup, which has attracted the attention of many because of the ease of use of the platform to new investors. Revix makes it easy to passively invest and diversify your crypto portfolio by buying one of four themed bundles.

The Revix platform automatically rebalances your portfolio each month to keep you from being over-exposed to a single cryptocurrency.

This startup has the advantage of a founding team of strong professionals who have a background in institutional investments. A possible disadvantage is that the company only offers bundled products and no option to purchase single cryptocurrencies.

CoinBits

Founded by the 19-year old popular crypto millionaire Erik FINMAN, CoinBits core concept is simple. CoinBits rounds up its clients' everyday credit card purchases to the nearest dollar and invests the extra cents in Bitcoin.

The CoinBits mobile app also allows users to set up regular outlays from the client's card to the their account for investing in cryptocurrency. The idea, according to Finman, is to democratize access to the currency by letting everyday folks invest nominal sums.

While the idea of the startup is pretty simple, and let's say, awesome, it has several cons. No matter the projects domain coinbitsapp.com contains word “app”, there is no mobile application, and it is only available to US customers.

Circle Invest

Launched in the US in 2013 with early investments from Goldman Sachs, today Circle is a blockchain company that unites crowdfunding platform Seed Invest, the crypto exchange Poloniex and USDC stablecoin. The group also includes the Circle Invest mobile app.

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The mobile application, available for Android and iOS devices, allows you to invest in 13 popular cryptocurrencies, as well as in 4 portfolios (they are called "collections" here) from cryptocurrencies of startups from one sector.

Despite the professionalism of the startup team, you can find quite a lot of negative reviews about the application on the Internet, in particular, users complain about low thresholds for account replenishing.

Coinbase

Coinbase is one of the most popular crypto wallets and cryptocurrency investment apps. The application is available in more than 100 countries and is used by more than 30 million people.

16 popular cryptocurrencies are available for trading on Coinbase, and another 80 are available for monitoring on the website or via mobile app. There is no opportunity to invest in a cryptocurrency portfolio. There is also a separate project, Coinbase Pro, which allows the user to trade a much larger number of cryptocurrencies, but in terms of functionality, this is more like a cryptocurrency exchange for professional traders.

Speaking about disadvantages, as a loyal user with more than 1-year track record, I personally never found any bugs or problems with the services. But what you can see on Coinbase TrustPilot page (reviews portal) may be alarming. There are more than 1,300 bad 1-star reviews, criticizing Coinbase for high fees, slow withdrawals, and poor support team.

eToro

Israel-based eToro is one of the most popular social investing platforms in the world. Started as a place for FOREX markets trading, eToro gives their users the ability to invest in various kinds of assets, and copy transactions of professional traders automatically.

16 popular cryptocurrencies are available for trading on this platform, including TRON, Zcash, NEO, EOS, and others, in addition to the popular Bitcoin and Ethereum.

Besides crypto, eToro offers users trading of hundreds of popular currencies in the FOREX market and other digital assets. While it's a plus for crypto investors, it could also be a disadvantage. Since the crypto investing service release, there have been no substantial service updates (except launching separate crypto exchange).

Revolut

A British startup with Russian roots managed to win over the hearts and minds of millions of users. Revolut presents itself as a bank without commissions. But like any other fintech startup, it followed the trends and did not miss an evident trend of cryptocurrency popularity growth.

Revolut mobile bank provides an opportunity to buy 5 popular cryptocurrencies: Bitcoin, Litecoin, Ethereum, Bitcoin Cash and XRP. Revolut has recently launched a free stock trading opportunity.
  
Perhaps soon, the startup will appreciate the new features and crypto investors. However, the choice of tools for them is not so big for today and could be valued as a disadvantage in comparison with other services on our list.

Spot

At last but not least in our rating is Spot, a crypto mobile app. This project is slightly different from those listed above since it solves slightly different problems that cryptocurrency investors may face. Spot allows buying Bitcoin directly with your credit card.

In addition, it allows you to monitor the price of almost all cryptocurrencies on more than 150 cryptocurrency exchanges and wallets, including Coinbase. To do this your accounts on exchanges should be connected to Spot.

This French startup was launched just a year ago, and according to TechCrunch, now have raised $1,5 million. While the article about the project on TechCrunch is a good sign, in this year there were no huge product developments, and Spot's social media channel have no updates for almost two months.

Image courtesy of The Wallet Genius

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