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July 27, 2018

Here come the cryptocurrency robo-advisors

  • Industry
  • Robotics/AI

Yahoo! – Suddenly, cryptocurrencies are rebounding — fast. Bitcoin is up 34% in the past month, above the $8,000 mark, and ether is up 8%. As typically happens when the two leading coins are up, the other digital assets come along for the ride: ripple (XRP), bitcoin cash, EOS, litecoin, Tron, and other small-cap coins are all up as well.

The timing is auspicious for New Wave Capital, a San Francisco firm launching on Thursday that touts itself as the first crypto robo-advisor. The premise: Cryptocurrency portfolio investing for regular people—that is, not just accredited investors, who typically must prove a minimum income of $200,000 or net worth of $1 million.

New Wave customers deposit a minimum of $1,000, and New Wave distributes it, based on an algorithm that assesses your risk tolerance, among 12 coins to begin with: bitcoin, ether, ripple, bitcoin cash, stellar lumens, litecoin, ethereum classic, Zcash, OmiseGo, golem, TenX, and Numeraire.

Read more at Yahoo!.

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