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Most of us entering the crypto space are anything but experts. Waking up one day and deciding you are going to enter into the crypto space is both exciting and terrifying. Knowing where to begin will automatically set your nerves on a journey like a ping-pong ball. You might find yourself confused with various cryptocurrency exchange choices, different types of wallets to secure your assets and finally by making educated decisions on which cryptos to invest in, and this is the exact reason why Snowball was created, it eliminates confusion by offering one safe, easy-to-use place to invest in tax-optimized crypto portfolios or âbundlesâ that pay you interest.
The app, who has established major partnerships with Kraken,PrimeTrust,Plaid and Bittrex boosts one, easy to use place for investors to begin their crypto investing journey. They aim to not only make mass adoption possible but to also make it as seamless and easy for the investor to find success by handling most of the due diligence on the back end of the app. Following in the footsteps of Vanguardâs John Bogle who pioneered traditional index fund investing the Snowball app strictly offers bundled investment options or what they call âcrypto portfoliosâ, all of which have been hand selected and heavily vetted by their team of professionals and are set to automatically rebalance to follow the fundâs allocations. Taking out the guesswork and extensive research needed to figure out which tokens to buy and sell
The mobile app was approved earlier this year by the SEC as a Registered Investment Advisor, becoming one of the first platforms of itâs kind to be registered with the SEC and allowing them to make investment recommendations through their mobile application. Snowball is now available for download on Apple App Store for people based in the US.
According to Snowballâs CMO, Jason Stone, it takes the guesswork out of investing by implementing the very first smart crypto investment automation (SCIA). Specifically, it enables access to professionally curated portfolios that would otherwise be unavailable to the average investor. Through an internal algorithm, it automatically follows the portfolio allocations of professionally curated regulatory compliant index funds.
âWe put your portfolio on autopilot, such that you donât have to time the market, you donât have to have the anxiety of missing out on a trade or trouble sleeping at night, because the crypto market like any other market, doesnât sleep when you do,â Gujral emphasized.
SCIA empowers everyone to invest intelligently and efficiently in cryptocurrency. We have âsmart technology, now itâs time to implement âsmart investment.â
So, what is âsmart investmentâ?
âItâs about finding someone whose livelihood is trading in cryptocurrencies; someone who has access to information; someone who has that ivy league degree; who has an evolving investment thesis and is doing diligence on every single token, reading all the whitepapers and shaking the hands of those CEOâs and teams. You need to consistently track their progress and create your own research and thesis based off that information; subscribe to that.â âParul Gujral
Unlike platforms like Robinhood whose slogan literally is âdonât go to sleep,â itâs time for you to remember to live and have fun with safe investing.
So, with Snowball, itâs as simple as downloading the app, connecting your bank account that you use every day, choosing the portfolio you want to invest in, and then sitting back to watch your portfolio snowball and grow.
Users of Snowball can also look forward to features like tax optimization, tax loss harvesting, staking and their investments paying them interest which are set to be released on their platform in the coming months.
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