Cryptocurrency Baskets Are Becoming Very Popular These Days

These days, cryptocurrency baskets are growing very popular due to its easier way to collect a set of digital assets in one go, without the need to manage them one after the other. This helps for those who do not have time, patience, or knowledge to sort out hundreds of cryptocurrencies. This year, the number of platforms servicing cryptocurrency baskets have been growing remarkably. This is an ideal product for a newbie, but is it a clever investment decision for whip-smart investors?

Last year, most publications predicted that this is the year of security tokens, so far that is not the case. However there is enough time for that prediction to be true, but at the moment the big crypto trend this year is Crypto baskets.  A crypto casket is comprised of curated suites of digital assets, often based around a specific theme, which can be purchased via a single token or on a crypto exchange with a single click. Up until now, crypto baskets have been largely prepared for entry-level tokens like LTC and ETH.

The Coinbase Index Fund offers investors access to all assets listed on GDAX, although since these comprise various weightings of BTC, BCH, ETH, and LTC respectively, there’s little imagination on display. There is also no entry route for retail investors; you will require at least $250,000 to buy in. Nevertheless, not all basket-based services are as exclusive though.

This past Tuesday (June 5th), a service called Flipside Crypto released a basket that was created in collaboration with Coinmetrics.io. This is a smart contracts basket which contains up to eight Proof of Work coins. At the beginning of a new day, a new basket is created, with each one rated according to its volatility, developer activity, and other metrics. Dailycrytobasket.com is a novel take on crypto baskets to date, and one which shows there’s scope for originality and innovation in this department. Set Protocol is a project which is taking a different route to serving up collateralized baskets of tokens. Sets of ERC20 tokens can be grouped together by the use of smart contracts and exchanged through a single token.

Another one of these projects is FCTF (First Crypto Traded Fund), which aims to attach the price of 10 digital assets to a single token. It also enables token holders to profit from fees paid to a Dash master mode in theory. For now, crypto baskets will be seen as starter packs best suited for new traders.

Reply

Time limit is exhausted. Please reload CAPTCHA.