By
Steve Muchoki
April 18th, 2024
Introducing new ‘Buy The Market’ feature, Circle Invest wants to make the world of cryptocurrencies more available for novices.
A well-known Goldman Sachs-baked mobile-payments and cryptocurrency-trading firm Circle has always been working hard on developing new ways to make a seemingly complicated virtual currency market easier for the wide audience. And the company’s new move also supports this common strategy.
With a view to facilitate all the operations for its customers, this cryptocurrency startup has launched its investment app in 46 U.S. states earlier this year. Let us also remind that for starting this project, Circle has received more 110 million U.S dollars in its fundraising round.
It was a soft launch after which the developers have been actively tracking the app usability in order to estimate its effectiveness and productivity, having an aim to make their app more user-friendly. And now the company is ready to announce new features available.
One of the features added on May 22 is ‘Buy the Market’ that is targeted at new users. “‘Buy the Market’ is the culmination of all we’ve been doing since the soft launch,” said Rachel Mayer, Circle senior product manager.
Describing all the benefits of their new feature, she explained: “It’s trying to solve the problem of signing up and trying to be a newbie investor and you’re not sure how much to put in and where and why. ‘Buy the Market’ is just a very easy way to invest in the seven supported assets on Circle Invest, you choose the funds you’d like to invest in, and we do the rest. We automatically divide the investment into each specific coin market cap waiting and you can purchase the coin instantly.”
The new feature is fully focused on the market and it is the reason why new users download the app. That’s why Circle tries to facilitate for these new investors a choice of the cryptocurrencies that are the most prospective to invest in.
If you are an investor and you want to use the ‘Buy the Market’ feature, you need to have a minimum of $1. Within a span of 7 days it is allowed to make maximum purchases of $10,000. Circle will get revenue building in a 1 percent spread between the buy and sell prices.
At the very beginning of its history Circle Invest provided its users with an opportunity to work only with Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin. Nevertheless, later, the company has added Monero and Zcash. Moreover, the team is considering other variants of cryptos to be added.
But for inexperienced investors it is difficult to understand how and where it would be better to put money. Having an aim to help this target audience, Circle has added a button that allows investors to buy any coins available on Circle Invest, depending on their respective market capitalization.
As we have already mentioned, Circle Invest is available for users of iOs and Android in the U.S. except Minnesota, Wyoming, Hawaii. And the company has plans to introduce it in Europe as well.