What Is Daily Crypto Basket?
Daily crypto basket is a project that focuses on developing cryptocurrency baskets with basis on algorithms and data provided by Flipside Crypto Incorporated. The algorithms are used during the evaluation of market maturity, the behavior of developers, and the utility of cryptocurrencies.
How The Flipside Crypto Algorithm Index Basket Works
Crypto basket gives traders an opportunity to seize a horde of digital assets at one go without having to independently manage them. A new basket is created every single day with the exception of weekends. The crypto assets for a basket are acquired at the best rate available on the market while putting security and safety into consideration. If a daily Crypto Basket attains a maximum number of participants or it reaches its daily closing time, there will be no more spots made on the basket.
All users in the platform go through a full Know Your Customer (KYC) protocol by use of the platform's boarding process in order to verify their authenticity and thus avoid fraudulent activities and ensure the funds of the users are safely kept. When users claim a basket, they automatically own the crypto assets that are described in their digital wallet. Users may hold or sell the assets in the digital wallet in full since the platform does not break baskets. Users can easily liquidate their daily basket at any time in a period of five business days.
The status of the user's basket is such that if the basket is “claimed” it means that the system has the user's order and the acquisition process begins. If the basket is “Owned” it means it is under the ownership of the user. The basket's status will change to “Selling” if the user liquidates it.
The platform only evaluates cryptocurrencies that are available for purchasing or selling with a minimal amount of liquidity making it easier for liquidation by everyone anywhere. There are no fees charged when using Daily Crypto Basket making it very suitable. The platform currency does not offer Initial Coin Offerings of any kind.
Users send their payments through their Bitcoin or Ethereum wallets by use of a mobile application or a browser. Once the submission of the payment is made, coinbase sends alerts to the platform to inform them of the occurrence of the transaction before confirming receipt of the payment. Email confirmations are sent to users once payments are received and the purchase of their own basket is completed.
Daily Crypto Basket Benefits
The platform is very reliable since it generates crypto baskets on a daily basis. Anytime users want to purchase a basket, they are readily available expect if it is during the weekends.
Daily Crypto Basket does not charge its users any fees when making transactions in its platform. Anyone around the world can participate in the buying of a basket by use of even a mobile application.
Users have an opportunity of making their baskets liquid with minimal requirements. Cryptocurrencies used in the system requires minimal amounts of liquidation thus; it can be done at any time in a period of five working days.