The caffeine shot your crypto needs
I'm Dhruva, the Product Manager here at Defy. When it comes to our money, our investments are always at the top of our minds. In fact, I'm sure that there's not a day when you wouldn't have thought about money. Even, for example, on a Monday.
I am not someone who wants beat around the bush. So let's straight up talk about what's important. Have you noticed a new feature on Defy? 🧺Baskets! In the next two minutes you’ll learn why Baskets are a notch over your current investing habits. Let’s dive in!
"Which crypto should I invest in?" - Is this question a little too familiar?
Or “Can someone guide my crypto investments?”?
Over the past few months we heard this question almost everyday, in almost every conversation. And so we decided to do something about it. To build a feature around just this. To build a feature that’s built for YOU.
Investing in crypto is like investing in a business. You spend time understanding
- the value of the business.
- does it excite their customers (or even exist)?
- is the market ready for it?
- and finally, is the team building it solid.
In short, a lot of time.
I’m assuming most of you don’t have the time to do so. Which is why we put in the hours.
Tons of of research + collaborations with crypto experts + endless coffee = Baskets.
Think mutual funds for Crypto, but a lot cooler. When you invest in a basket, you’re investing in multiple coins, each a strong bet from various sectors in the crypto universe like Metaverse, Defi, DAOs etc.
Is it safe to invest in a Basket?
You must’ve heard ‘don’t put all your eggs in one basket’? (not a pun). It true for crypto too.
While the opportunities are tremendous, the market is volatile. If you invest in coin A alone and its value drops the day you need money - you’re in trouble. If you invest in coins A and B (or C and D and E. You get the point), It’s unlikely that all tank together. Some could stay afloat, while others reach for the moon. This is Hedging in short.
By investing in Baskets, you’ve already hedged your investments. Since you are investing in multiple promising coins, your investments become safer as Baskets.
Now I’m assuming many of you will invest on a monthly basis. When you invest in a Basket, it automatically splits the amount in the right ratios of coins for you. Much easier than investing in each coin individually. Baskets will save you a bunch of time each month and help you stay on track with your investment goals.
Achieved your monetary goals? Need funds immediately? You can withdraw all funds from your baskets in one go. Whenever you want. ⚡️Supafast.
I personally believe in crypto being a solid investment option. This is why I build products making it easier for all to invest in it. In the coming future, we’ll look at helping you build your own baskets, in case you’ve figured some coin collections you’d like to invest in. Invite others to join you and let’s make finance a simple matter.
We know that at this point you might have a few questions. So I’d encourage you to drop us a note on Twitter or Instagram. We’ll try and personally respond to you.
Till then, keep HODLing like the bawse you are!
Dhruva, Product Manager who loves Buidl at Defy