Emberfund Strives to Transform Your Smartphone into a Cryptocurrency Investment Device
Every time one considers investing their money into the world of cryptocurrencies, they imagine that it will take hours and hours of research into the best performing coins. Invest in them and then hodl and pray for the markets to work in their favour.
Well, some genius somewhere has come up with a totally different idea with Emberfund. Emberfund is an app that’s can be downloaded on either Android or iOS. It allows you to buy a diverse portfolio of cryptos that automatically balances itself. The brains behind this concept, Mario Lazaro, Guillaume Torche, and Alex Wang all have a strong foundation in AI. They were former colleagues at GumGum that was also an AI startup. With their strong background they were able to come up with this crypto hedge fund that is superior.
Emberfund functions like the usual crypto wallet. One loads funds to the app and then chooses an investment plan that complements the amount of cash they intend to invest. With that, one can pick the cryptos they would like to invest in such as Bitcoin, Ethereum, and Litecoin. The structure of the app then automatically shuffles the investments chosen depending on various factors such as prices and indicators.
Wang, one of the co-founders said they were the only app that lets people invest in crypto assets such as a cryptocurrency hedge fund with as little as $100. He further confirmed that they do not come into contact with investors assets as everything is encrypted in the mobile device of the user. The app manages an investors crypto asset without taking control over the assets.
The founders have also come up with a computative hedge fund that does automatic trades. Therefore, this cuts back human interaction.
Even with a surge in the number of crypto hedge funds, this did not prevent the Emberfund founders from coming up with this app. The owners had a seed capital of $5,000 each to get the business rolling.
And last month, Emberfund recorded over $2million transactions. Right now, they have other millions of crypto assets that they are managing according to Wang.
Wang added that they were happy that this type of technology would allow a person from a 3rd world country to access same crypto investment products people in first world countries were enjoying that is why they decided to create this product that offers exactly that.