The tech industry abounds with buzzwords and acronyms that seem, at times, designed to exclude the ordinary user. But “UX” isn’t one of these mere buzzwords. User experience is one of the rare bits of tech shorthand that actually mean something to our customers and clients because everybody knows what bad UX looks like. 

But sometimes, great UX isn’t all that it seems, especially for new and inexperienced users. In the last Bitcoin Magazine article penned by a member of the Casa team, we examined Bitcoin’s greatest UX problem, security, and posed the question: How do we make bitcoin self custody simple?

The answer is simple, if not easy: We must teach users how to keep their coins safe by weaving education into the wider user experience, creating an environment where security becomes second nature.

There are many things that distinguish Bitcoin services from other online services, but perhaps the biggest difference is the unique user base. Bitcoiners usually spend a long time reading and researching before taking the plunge. Throughout their product- and ecosystem-vetting process, they remain hungry for knowledge and eager for guidance on how to navigate this new world, with security remaining central to their decision-making methods.

This places enormous responsibility on the Bitcoin businesses that value long-term industry adoption, as well as cultivating strong product loyalty. Because our users are often investing significant amounts — in some cases, a good chunk of their life savings — into the one cryptocurrency proven to be a trusted store of value, providing them

 with products that are well-architected and thoughtfully explained, as well as providing the most up-to-date security enhancements, is critical.  

But this is a responsibility that our industry has, on the whole, shirked.

It could be argued that trading platforms, exchanges, and Bitcoin wallets have tried to educate their users on the basics. But you don’t have to go too far to find proof that they’re not doing enough to help their customers keep their coins secure. 

We’ve already outlined how the Bitcoin ecosystem is failing in its responsibilities. So, let’s look at the corrective: education. We must find a way to provide continuous learning to our users in a way that does not detract from the overall experience of buying, trading or securing our bitcoin. 

Bitcoin companies that commit to teaching users how to stay secure will ultimately help strengthen the entire space. But how do we best go about it? 

Weave learning into the warp and weft of the Bitcoin user experience in a way that users notice as little as possible. This integration should also artfully prompt people to undertake the tasks necessary to take control of their security so both Bitcoin businesses and their users inherently acquire the skills needed to secure their coins. 

The perfect educational system is one where people don’t realize they’re learning. For example, prompting users with regular and well-timed reminders to perform simple security health checks. 

As humans are creatures of habit, creating consistent and repetitive reminder processes helps users encode best practices into their custody solutions. To accomplish this, bitcoin custody providers can ping customers with messages to turn on their computers and perform “handshakes” with their wallets, just to make sure everything is working as it should. It’s simple, takes seconds, but it also brings up important questions: Are you using private keys or public keys? Do you know the difference? Is it easy for you to find your wallet? 

Providers won’t want to overwhelm the user with constant reminders; nor would they benefit from “gamifying” the experience. Honest providers didn’t go into business to patronize our users, or to make a game out of security. Bitcoin is too serious for that.

If we incorporate concise, bite-sized and well-timed reminders to complete simple tasks, however, that’s our opportunity to nudge our users to educate themselves about security best practices without detracting from the seamless experience.

But popups and e-nudges aren’t enough on their own. Yes, our users tend to be highly technically literate, and they’re usually self-taught. They look for answers in the educational resources that Bitcoin businesses provide, or through third-party YouTube tutorials. 

Sometimes, though, only a human will do. That’s why we must complement our educational resources with 24/7 access to expert advice whenever they are in need. 

Technology is increasingly devoid of human connection, and Bitcoin isn’t blameless. If we want to deliver the revolution, we need a return to healthy, positive computing. It might seem a bit “1990s” in a world of AI and chatbots, but user support on the phone, delivered by an expert who’s always there when you need them, is something we should embrace, not disparage.

So, after a year in which we’ve been more divorced from each other than ever before, let’s commit to making 2021 the year we get back in touch with our users, and give Bitcoin the human face it has lacked for so long. And let’s remember the words of Benjamin Franklin: “An investment in knowledge pays the best interest of all.”

This is a guest post by Scott Hurff. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

On May 11, 2021, the staff of the Division of Investment Management (“IM”) within the Securities and Exchange Commission (“SEC”) issued a statement (the “Statement”) regarding the staff’s current views on funds registered under the Investment Company Act of 1940, as amended (the “1940 Act”) investing in bitcoin futures.1 Although the Statement most directly illustrates the staff’s current stance toward mutual funds investing in bitcoin futures, more significantly, given the intense interest in potential bitcoin and other cryptocurrency products, the Statement is being scrutinized for what it might say about the willingness of the staff to approve exchange-traded products offering exposure to bitcoin or other cryptocurrencies.

The Statement conveys the staff’s view that mutual funds should only invest in bitcoin futures if the funds have “investment strategies that support this type of investment,” as well as full disclosure of the relevant risks. The Statement does not support exchange-traded funds ("ETF"s) investing in bitcoin futures at this time, though the staff remains open to further discussion on the topic. Even though closed-end funds are not subject to the same liquidity risks from the bitcoin futures market as mutual funds or ETFs, the Statement nevertheless recommends that sponsors of closed-end funds consult the staff prior to filing for a closed-end fund that would invest in bitcoin futures. Finally, while the Statement does not address the recent spate of filings for exchange-traded products that would hold bitcoin directly and are not registered under the 1940 Act, the Statement conveys certain concerns that are likely to apply to the SEC’s consideration of those products as well.

In January 2018, Dalia Blass, the then-director of IM, issued a letter (the “Cryptocurrency Holdings Letter”) to the heads of the Investment Company Institute and the Asset Management Group of the Securities Industry and Financial Markets Association outlining significant concerns on the part of the IM staff that would need to be addressed by any registered fund offering exposure to bitcoin.2   Those concerns were (a) valuation, (b) liquidity, (c) custody, (d) arbitrage (for ETFs) and (e) potential for manipulation and other risks. As the bitcoin futures market had only commenced trading in December 2017, the discussion in the Cryptocurrency Holdings Letter primarily focused on issues relating to funds proposing to hold bitcoin directly.

The Statement notes that since the Cryptocurrency Holdings Letter was issued, the bitcoin futures market has grown markedly,3 consistently producing reportable prices and avoiding the custody issues that would be presented under the 1940 Act if funds held bitcoin directly (because bitcoin futures contracts currently are cash-settled). Moreover, in recent months, certain mutual funds have made filings disclosing their intention to invest some portion of their assets in bitcoin futures (and/or private investment funds that hold bitcoin)4. The Statement notes this trend and declares that the staff “will closely monitor and assess such mutual funds’ and investment advisers’ ongoing compliance with the [1940] Act and the rules thereunder and the other federal securities laws.”

In addition, the Statement states that the IM staff (in coordination with staff from the Division of Economic and Risk Analysis and Division of Examinations) will “closely monitor the impact of mutual funds’ investments in bitcoin futures on investor protection, capital formation, and the fairness and efficiency of markets.” The Statement identifies the following items that the staff will monitor:

The liquidity and depth (e.g., number of participants) of the bitcoin futures market and whether it is appropriately supporting mutual fund investment in bitcoin futures (particularly as additional mutual fund assets enter the market) given regulatory requirements relating to mutual fund liquidity;5

The ability of mutual funds to liquidate bitcoin futures positions as necessary to meet daily redemption demands, as well as the efficacy of mutual funds’ derivatives risk management6 and the extent of any leverage obtained through derivatives;

The valuations of holdings in the bitcoin futures market utilized by funds and how such valuations are affected by mutual fund participation in the bitcoin futures market on valuations in that market, as well as the impact on valuation of any disruptions in the underlying bitcoin markets;

Pursuant to the Liquidity Rule, mutual funds’ liquidity classification of any position in the bitcoin futures market and the basis for such classification, as well as the overall construction of such a fund’s liquidity risk management program;7

The ongoing impact of the potential for fraud or manipulation in the underlying bitcoin markets and its possible influence on the bitcoin futures market;8 and

Whether, in light of the experience of mutual funds investing in the bitcoin futures market, the bitcoin futures market could accommodate ETFs. The Statement notes that, unlike mutual funds, ETFs cannot prevent additional investor assets from coming into the ETF9 to address situations where an ETF becomes too large or dominant in the market, or if the liquidity in the bitcoin futures market starts to wane.

The Statement concludes with the following summaries of the IM staff’s current views with respect to funds’ investments in bitcoin futures:

The IM staff believes that only mutual funds “with appropriate strategies that support this type of investment and full disclosure of material risks” should pursue investment in the bitcoin futures market at this time.

The IM staff “welcomes further input from ETFs and other market participants, particularly input that focuses on efforts to ensure compliance with the [1940] Act and its rules and promote investor protection.”

Because closed-end funds do not provide for daily redemption of their shares, they are not subject to the same liquidity requirements, and do not present the same types of liquidity challenges, as open-end funds. Nevertheless, the IM staff “encourages any closed-end fund that seeks to invest in the bitcoin futures market to consult with the staff, prior to filing a registration statement, about the fund’s proposed investment, anticipated compliance with the [1940] Act and its rules, and how the fund would provide for appropriate investor protection.”

The IM staff also promises to be “transparent about its approach to registered funds’ investment in the bitcoin futures market, as well as other types of cryptocurrency and digital asset investing.”

We believe that there could be important ramifications for mutual funds and ETFs as a result of the Statement:

Mutual Funds. The Statement does not address what type of investment strategies might be “appropriate” for a fund to invest in bitcoin futures contracts, nor does it address whether the staff would have concerns if an existing mutual fund changed its investment objective or strategies so that they would then be “appropriate” for investing in bitcoin futures. Nevertheless, the Statement makes it clear that the IM staff will consider carefully whether a mutual fund’s strategy is appropriate for investing in bitcoin futures and whether the applicable risks are appropriately disclosed.10

1940 Act ETFs. The SEC has not yet permitted the offering of 1940 Act-registered funds that are ETFs and provide bitcoin exposure by investing in bitcoin futures.11 The Statement indicates that the IM staff is still open to discussion about whether the bitcoin futures market has developed to an extent that would make it possible to offer ETFs based on bitcoin futures, but does not indicate that the IM staff is likely to approve such ETFs imminently.

Closed-End Funds. Despite closed-end funds not being subject to the same liquidity requirements and risks as open-end funds, the IM staff still recommends in the Statement that closed-end funds desiring to invest in bitcoin futures discuss the fund’s strategies and processes for addressing compliance risks with the IM staff before filing a registration statement. Among other factors, the concerns identified in the Statement regarding whether the bitcoin futures market has sufficient liquidity and depth to accommodate multiple mutual funds could apply to closed-end funds as well.12

Exchange-Traded Products Not Registered under the 1940 Act. In recent months, several filings have been made for exchange-traded products (“ETPs”) that would offer exposure to bitcoin by holding bitcoin directly.13 These ETPs would be registered under the Securities Act of 1933, as amended, and trade on a national stock exchange, but would not be registered under the 1940 Act. Previous filings for such products have been made in prior years but either were withdrawn or disapproved by the SEC.14

The Statement does not directly address this class of ETPs because it was issued by the IM staff and only covers 1940 Act funds wishing to invest in bitcoin futures. Nevertheless, several of the issues identified in the Statement regarding the bitcoin futures market would apply in substance to bitcoin ETPs that are not registered under the 1940 Act. For example, the SEC previously has identified the bitcoin futures market as not being a “market of sufficient size” to deter potential manipulation in the underlying bitcoin markets for purposes of the SEC’s authority to approve or disapprove exchange listing rules under Section 6(b)(5) of the Securities Exchange Act of 1934, as amended15  — and while the Statement acknowledges the growth of the bitcoin futures market in recent years, the Statement expressly disclaims any position on whether the bitcoin futures market is now a market of “sufficient size” for such purposes.16 It seems likely that the IM staff’s determination of whether the bitcoin futures market is sufficiently liquid and deep to accommodate 1940 Act ETFs will be made in coordination with the determination as to whether the market is of sufficient size to allow for the offering of non-1940 Act bitcoin ETPs.

1 See Staff Statement on Funds Registered Under the Investment Company Act Investing in the Bitcoin Futures Market (May 11, 2021) publicly available sting-bitcoin-futures-market. 2 See Staff Letter: Engaging on Fund Innovation and Cryptocurrency-related Holdings (Jan. 18, 2018) publicly available ptocurrency-011818.htm. 3 See, e.g., CME Group Bitcoin Futures Liquidity Report, publicly available ty-report.html. 4 See, e.g., filings made by Morgan Stanley Institutional Fund, Inc. /d46120d497.htm), Blackrock Global Allocation Fund, Inc. /d46120d497.htm) and Stone Ridge Trust 53461/d129263d485bpos.htm). 5 See Rule 22e-4 under the 1940 Act (the “Liquidity Rule”). 6 See Rule 18f-4 under the 1940 Act, which registered funds will be required to comply with as of August 19, 2022. 7 The Statement stipulates that the staff’s analysis of the program construction will include, per the Liquidity Rule, consideration of the liquidity of a fund’s strategy and portfolio investments during both normal and reasonably foreseeable stressed conditions, whether the investment strategy is appropriate for an open-end fund, and the extent to which the strategy involves a relatively concentrated portfolio or large positions in particular investments. 8 See, e.g., SEC Order Disapproving a Proposed Rule Change, SEC Release No. 34-88284 (Feb. 26, 2020); publicly available at: https://www.sec.gov/rules/sro/nysearca/2020/34-88284.pdf; SEC Order Disapproving a Proposed Rule Change, SEC Release No. 34-83904 (Aug. 22, 2018) publicly available at: https://www.sec.gov/rules/sro/nysearca/2018/34-83904.pdf. 9 The SEC has taken the position that ETFs generally may suspend the issuance of creation units only for a limited time and only due to extraordinary circumstances, such as when the markets on which the ETF’s portfolio holdings are traded are closed for a limited period of time. See Exchange-Traded Funds, SEC Release No. 33-10515 (June 28, 2018) publicly available at: https://www.sec.gov/rules/proposed/2018/33-10515.pdf, note 185 and accompanying text and Exchange-Traded Funds, SEC Release No. 33-10695 (Sept. 25, 2019) publicly available at: https://www.sec.gov/rules/final/2019/33-10695.pdf, at 58-59. 10 For example, income from bitcoin futures would likely not constitute income from which a fund seeking to be treated as a “regulated investment company” for federal income tax purposes (as almost all mutual funds are) must derive at least 90% of its gross income. As a result, mutual funds may need to consider investing in bitcoin futures through a wholly-owned foreign subsidiary. 11 Following the commencement of trading of bitcoin futures contracts, certain filings for 1940 Act ETFs were made but quickly withdrawn at the request of the IM staff (as stated in the Cryptocurrency Holdings Letter). See, e.g., Post-Effective Amendment 2,586 to the registration statement of VanEck Vectors ETF Trust, filed on December 8, 2017 (publicly available 0/c89704_485apos.htm). This filing was withdrawn on January 9, 2018 (publicly available 0/c89704_aw.htm). 12 For example, the NYDIG Bitcoin Strategy Fund (offered by Stone Ridge Trust VI) a closed-end fund (specifically, an “interval fund” pursuant to Rule 23c-3 under the 1940 Act) that invests in bitcoin futures, has to this point limited its offering to a maximum of $25 million. 13 See, irst-bitcoin-etf/. 15 See note 8, supra. 16 See Statement, note 5.

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KiwiSaver growth fund, a retirement growth fund with investments worth $350 million has invested 5% of its total assets in Bitcoin. The chief investment officer James Grigor also promised more KiwiSaver schemes with bitcoin exposure in the upcoming 5 years. He said,

“Our KiwiSaver is majority built up through traditional assets classes, your bonds and shares, and they will always be the asset classes that compound over time to give people the best retirement they can get.

But there’s going to be times when it’s not always going to be plain sailing. You may still have a positive view of those asset classes, but other opportunities present themselves,”

— Documenting Bitcoin 📄 (@DocumentingBTC) March 25, 2021

Bitcoin’s rising value along with popularity has made it the go-to choice for investors and now even large wealth fund managers. Only yesterday Coingape reported that a Singapore-based $306 billion wealth manager has been buying Bitcoin from miners since 2018. The rising interest of high-value sovereign wealth management funds most of them associated with the government is a clear sign of growing Bitcoin adoption beyond the limited crypto market.

The  Chief Investment Officer of KiwiSaver said that they see Bitcoin as a commodity with properties like gold.

However, many other rival wealth managers believe the decision would not be good for investors as they see BTC as a speculative asset and believe investing in it is more like gambling.

The likes of MicroStrategy and Tesla were among the early fortune 500 companies to see the potential of Bitcoin in the future of finance. However, as the bull run continues defying most of the previous records more mainstream banking giants such as Morgan Stanley, BNY Mellon, and Goldman Sachs have started to gain exposure in Bitcoin.

Now Wealth Fund Managers have also rushing to add Bitcoin to their investment schemes which is a big deal given, most of these retirement and pension funds only invest in assets with very high chances of better return.

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

Morgan Stanley is officially getting involved in cryptocurrencies, according to a CNBC report, as the soaring price of bitcoin garners the attention of its wealthy investors.

In another example of the rising interest, Morgan Stanley told its financial advisors that it is launching access to three funds that enable ownership of bitcoin.

According to an internal memo, wealthier clients with “an aggressive risk tolerance” and have at least $2 million in assets can invest up to 2.5% of their net wealth in bitcoin funds.

“Two of the funds on offer are from Galaxy Digital, a crypto firm founded by Mike Novogratz, while the third is a joint effort from asset manager FS Investments and bitcoin company, NYDIG,” CNBC has learned from unnamed sources.

The Morgan Stanley insider added that the investment bank’s move into the bitcoin market was inevitable, given the high demand from its investors who were already set to push money into the space.

Morgan Stanley has recently increased its cryptocurrency exposure manyfold. Counterpoint Global, its $150 billion investing arm, has invested $500 million in business intelligence company, MicroStrategy, which converted its entire cash balance to bitcoin.

The Best Pharmaceutical Companies to Invest in Right NowGo to article >>

Although Morgan Stanley has added more momentum by moving to open up access to bitcoin funds, Wall Street banks’ interest in bitcoin has been already building up over the last few months.

BNY Mellon said last month it plans to provide its clients with ‘an integrated service’ for digital assets, which would cover classic cryptocurrencies and could be extended to stablecoins.

America’s oldest bank will soon hold, transfer and issue cryptocurrencies on behalf of its asset management clients, citing growing client demand, maturity of blockchain solutions and better regulatory clarity.

Goldman Sachs, in an effort not to be left behind, said it has reopened a trading desk to make markets in cryptocurrencies, marking a key development in bringing the asset class into the mainstream.

Having worked out security issues such as how it would custody the assets, the New York-based bank is using its own money to trade with clients in a variety of non-deliverable forwards linked to the price of Bitcoin.

Elsewhere, BlackRock, the world’s largest asset manager with almost $8 trillion in AUM, has authorized two of its funds to invest in bitcoin futures.

I nvesting in cryptocurrency has become extremely popular in the last year or two as it has gained more visibility in popular culture.

If investing in Bitcoin and other cryptocurrencies have piqued your interest, you may be wondering, where does a beginner go to get started?

Some of the questions you might be asking include:

We'll be looking at these questions in this article, as well as sharing our list of some of the top places to invest in Bitcoin (or other cryptocurrencies). 

Bitcoin and other cryptocurrency are virtual currencies that you can use online in exchange for goods and services, or to trade for profit like you would stocks and bonds. 

Many companies also issue their own currencies, often called tokens, and they can be traded specifically for the good or service that company provides. This is similar to how an arcade token or casino chip would work in the real world.

Cryptocurrencies use a technology called blockchain, a decentralized technology spread across many computers across the Internet, that manages and records all transactions. 

According to CoinMarketCap, as of early 2021, over 7,800 cryptocurrencies are currently in existence and more of them are popping up all the time. 

As of the publishing of the article, here are the top 10 largest trading cryptocurrencies by market capitalization, as tracked by CoinMarketCap.

The global crypto market cap is $2.45 trillion as of May 2021, and of that Bitcoin has over 40% of total market share. Because it is the original crypto, and one of the most widely used, Bitcoin is often used as shorthand for cryptocurrency, even though there are thousands of them, and others are now increasing in popularity.

As to what cryptocurrencies are the best to invest in, that's a choice you'll have to make. Many people would invest for the long term in some of the larger more proven cryptos above like Bitcoin, while others are bound to ride the waves of popularity on popular meme coins like DOGE (also above), selling when they're at what they hope is the peak. If you decide to jump into crypto, do your homework, find out the differences between all of the cryptocurrencies, and invest in crypto with caution.

Investing in bitcoin and other cryptocurrency is becoming easier every year due to the proliferation of apps, crypto exchanges and decentralized cryptocurrency exchanges online.

To invest in a cryptocurrency is extremely similar to how you invest in stocks.

When investing in stocks you open an account with a brokerage or investing service, you transfer cash into your account from your linked bank or credit card, and then you buy an investment with the deposited funds. You hold the stocks or bonds until which time you decide to sell and lock in your gain or loss in that investment. Once it is sold your cash is returned to your cash balance.

With cryptocurrency you have a similar process. You open an account with a cryptocurrency exchange (like Coinbase for example), deposit funds from a linked bank account, and then buy a cryptocurrency of your choice (whether Bitcoin, Ethereum, Litecoin, etc). You can then hold the crypto in your cryptocurrency wallet until which time you decide to sell it (hopefully with a large gain). 

When buying cryptocurrency there are often fees associated with the transaction, both with the currency exchanges that you're buying through, and what are called miner's fees, paid to the computers across the internet that are running calculations and recording the transactions to the blockchain. So buying crypto can get pricey, depending on what you're buying, where you're buying it and what the process is.

So let's examine how crypto trading at a cryptocurrency exchange looks from start to finish. We'll use one of my favorite exchanges, Coinbase, as the example.

We love using Coinbase, not only because the site has a clean, easy to use interface, but also because they're currently offering a $5 bonus when you open an account!

To get started you just open the free Coinbase account (you can do that through our link and get your bonus).

After entering your email, password, some personal details you'll usually have to verify your identity via the exchange's "Know Your Customer" (KYC) identity verification process.

After setting up the account you can link a bank account or credit card. I ended up linking to both during the setup process just in case, but it should be noted that there are usually more fees when purchasing Bitcoin or other crypto using a credit card. Be aware of what those fees are before you purchase.

Once you have linked your bank or funding source, you can transfer funds to the exchange. The funds will be held either in a wallet where fiat USD currency is held (to wait for the right moment to buy), or you can just purchase one of the available cryptocurrency directly that are tradeable on the particular platform. 

In the screenshot below, you can see if you want to buy Bitcoin you can enter a dollar amount that you want to invest in the right sidebar, and it will convert your dollars to the amount of Bitcoin that you'll be purchasing based on the current exchange rate. It will also tell you what fee you will pay when purchasing.

So in this case, let's say we decide to purchase $1000 worth of Bitcoin. To do that we'd just click on the "Buy" button next to Bitcoin (BTC) cryptocurrency.

On the screen that pops up we enter $1000 as the dollar amount, and hit "Preview Buy". It will then give a preview of how many Bitcoin will be purchased, what funding source you'll be using for the purchase, what the current price of BTC is, and what the fee will be for this purchase. Fees will vary depending on a variety of factors, check with the exchange you're using for current fees.

In our example, at the current price, we would be getting 0.01754794 BTC. That's $985.32 worth of Bitcoin after the $14.68 Coinbase fee. 

Once we hit buy now, the Bitcoin is purchased, and it will be sent to our specific Bitcoin wallet at Coinbase to be held for us indefinitely until we decide to sell, convert (to another crypto like Ethereum) or transfer to another crypto wallet or exchange.

When you purchase crypto on Coinbase it will keep a record of all your transactions so that you can go back later and figure out your cost basis on your cryptocurrency for tax reasons. Then if you sell cryptocurrency during the tax year, you can figure out what profits or losses you've had during the year, and whether gains are taxed as short-term or long-term, etc.

If you're going to be doing a lot of crypto trading, it's a good idea to use an automated transaction tracking software like the one at CoinTracker.io.  

CoinTracker can plug into the API for many of the biggest crypto exchanges (and accepts .csv imports from many others) and provide you with a report for your taxes at the end of the year.

It's free to use for the basic account (up to 25 transactions), and has a small fee if you are a more active trader with more transactions to report on. CoinTracker is definitely worth it if you're planning on doing a bit of crypto trading.

Here is a list of some of the most popular cryptocurrency and Bitcoin sites. Most of them are crypto exchanges where you can buy or sell crypto. Some are crypto savings accounts, where you can earn interest on your cryptocurrency. Still others are brokerages or mobile apps that allow you to buy cryptocurrency. Most of them fall into one of these following categories.

Let's take a look at some of the best options available.

Coinbase is one of the main cryptocurrency exchanges that I personally use, and if you're new to cryptocurrency world they're definitely one of the main ones I'd recommend giving a try. For advanced traders they have Coinbase Pro, which offers more tools for active traders.

Coinbase has over 43 million users in over 100 countries, and they claim to hold over 90 billion in assets, while facilitating over $450 billion in trades. When I counted earlier today they've got around 60 different tradeable cryptocurrencies that you can buy through their portal, including most of the big ones like Bitcoin, Ethereum, and Litecoin. They're definitely one of the bigger and more respected crypto exchanges in the business.

The exchange and mobile app also boast strong security with two-factor authentication, offline storage for a majority of client assets, and stronger security for long term crypto storage or time-delayed release through Coinbase Vaults. They boast that they have never been hacked.

Coinbase currently has a $5 new account bonus through our link below!

Gemini is another crypto exchange that I currently have an account with and would recommend. It also has a strong reputation for being strong on security, and like Coinbase it has never been hacked.

Gemini was founded here in the United States by Cameron and Tyler Winklevoss (co-founders of Facebook predecessor), and is based out of New York. Since Gemini is based in New York the company follows their regulations, and is one of the few crypto exchanges available in New York.

Gemini currently has over 40 tradeable cryptocurrencies, including a few more obscure ones that have had popularity recently like DOGE coin.

The exchange also has a feature called Gemini Earn that allows you to earn interest on your unused cryptocurrency balances.

Sign up through our link below you'll get a $10 Bitcoin bonus once you've traded $100.

Crypto.com is another outstanding cryptocurrency app. I have an account there because I wanted to buy a bunch of an obscure crypto that I thought had a chance of hitting it big, and they were one of the few exchanges that was carrying it at the time. 

Based in Hong Kong, Crypto.com is one of the biggest and fastest growing crypto exchanges in the world. They currently offer over 90 cryptocurrencies worldwide, or 50+ if you're in the United States.

The Crypto.com app is offering a $25 referral reward in CRO (Crypto.com's in house cryptocurrency coin) if you sign up through our link. The reward is unlocked when you stake $400 CRO and obtain the Crypto.com Visa card (the card allows you to spend your Crypto and earn Crypto rewards, among other benefits).

The service has a pro account for advanced traders on the web as well. You can open an account on the Crypto.com exchange here. (Get a $10 bonus with $1000 in new CRO stake) 

BlockFI is a bit different from the sites already mentioned because while can you trade cryptocurrency pairs on their platform, it's main advantage is that users can earn interest on their crypto holdings.

If you're not looking to sell your cryptocurrency anytime soon you can put your crypto to work with BlockFi and earn up to 8.6% APY with a BlockFi Interest Account. Just fund your account with a wire or a crypto transfer of your choice, and starting earning interest.

BlockFi also has crypto backed loans. You can use your crypto as collateral and receive a loan in U.S. dollars, so that you don't have to sell your crypto.  It should be noted that the there are rates of 3-9.3% and a required 2% origination fee, so it isn't cheap. 

BlockFi currently supports Bitcoin, Ether, Litecoin, PAX Gold, USD Coin, Gemini Dollar and Tether for the BlockFi Interest Account, although there may be more in the future. Also, there are no ACH transfers of fiat currency currently. 

BlockFi also recently released a rewards credit card that will pay your rewards in Bitcoin.

Get up to $250 in crypto bonus with a deposit of $25 or more in crypto. Click through our link below for details.

Kraken has been around for almost a decade, and is one of the original crypto trading platforms. They are also one of the most secure platforms for crypto currency trading, and have never been hacked. 

Kraken is based in the U.S., and they currently offer 50+ cryptocurrencies for trading.

They also offer staking rewards on some coins, which can allow you to earn some interest on your crypto. Rewards are paid bi-weekly, and the amount you can earn varies by coin.

Kraken is also known for having fees that are extremely reasonable, more so than some of the other bigger platforms.

Binance is one of the largest global cryptocurrency exchanges.  The company was founded in 2017 in China, and is now based in Malta. They do have operations in the United States and Singapore as well. 

According to CoinMarketCap, Binance is the largest crypto exchange globally in terms of trading volume and weekly site visits. 

The Binance.US site was launched in September 2019 in San Francisco, and currently offers 50+ cryptocurrencies on the U.S. version of the site, although they do have some hard to find coins available on their service like NEO and DOGE. 

There are 7 states not yet supported, so check the site to make sure you are able to open an account.

Once you open a Binance.US account you'll be able to refer your friends to open an account and earn referral commissions when they buy crypto.  

Robinhood is one of the best places to trade Bitcoin and Ethereum, if you want to do it with no commission. Not only are there no commissions, but they make it easy to buy crypto through the Robinhood Crypto account in the Robinhood app.

Robinhood currently only supports a few currencies on their platform. Tradeable cryptocurrencies currently include Bitcoin, Bitcoin Cash and Ethereum. They also only support certain states.

One of the downsides of buying Crypto with Robinhood is that there is currently no option to withdraw your cryptocurrency to a wallet elsewhere. You can only buy your crypto there, and then sell it, but you can't transfer it. For some who plan to just buy and hold that isn't a big deal, and the no commission more than makes up for it. For others it should be something to consider.

When you open an account with Robinhood you'll get a free stock! Click through our link below.

Webull is another great place to buy cryptocurrency with no commissions to buy or sell. They currently offer seven cryptocurrencies for trading: Bitcoin, Dogecoin, Bitcoin Cash, Ethereum, Litecoin, ZEC and XLM.

Buying through the app works just like buying a stock. Your search for the crypto name or symbol (Like Bitcoin or BTC), and then place your order. The crypto is held at Apex Crypto, so it is technically separate from Webull, while being done through their app. You also can't transfer or withdraw your crypto to another exchange or wallet, you can only buy or sell from within the app.

While not being able to transfer to an external wallet may be a deal-breaker for some, for those who plan to just buy and hold for a while, it probably isn't a big deal.  I personally have some Bitcoin and Ethereum that I've purchased through Webull and that I plan holding for a while.

Open an account with Webull you'll get a free stock worth up to $1600!  Get your free stock, sell it and then buy some crypto!

SoFi is a company that offers everything from student loan refinancing and bank accounts to investing and insurance products. They are a one-stop shop for all your financial needs. Among the needs you can now satisfy is buying Cryptocurrency.

SoFi active investing offers five cryptocurrencies for trading at the current time. Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ethereum Classic.

As with Robinhood, Webull and a few other stock brokers you just purchase cryptocurrency in their investing app just like you would any stock, bond or mutual fund.  Search for one of the supported currencies and buy it.  As with other brokerages, however, their crypto system is closed, and you're not able to transfer crypto to an external wallet at this time.

Open a new account through our link and buy $10 worth of any tradeable cryptocurrency within 7 days and you'll get $10 in Bitcoin!

Bitcoin IRA is a bit different from some of these other sites in that they allow you to invest in cryptocurrency, but inside of a tax advantaged account.  

When you normally invest in cryptocurrency your gains or losses on crypto are taxed on short-term and long-term gains. When you invest inside of an IRA your taxes are deferred or tax-free in the Roth.

You can also earn interest on your crypto by lending it out via Bitcoin IRA. You can earn as much as 6% interest on your crypto and cash.

There is a $3,000 minimum for a transferred IRA, or $100 with a new IRA and a regular contribution. There are also fees associated with this type of an account Check out the site for full details on what those are currently.

Coinmama is another cryptocurrency exchange that offers instant Bitcoin purchases, while offering quick account setup and verification.

You can use a credit or debit card to buy one of ten different cryptocurrencies, or you can sell your Bitcoin in exchange for fiat currency.  (They don't currently offer ACH transfers in the U.S.)

Coinmama is not a wallet provider, so when you buy crypto you'll need to provide the address of your pre-existing wallet, either with another online provider like Coinbase or Gemini, or with a mobile, desktop or other hardware wallet.  

Hodlnaut is another cryptocurrency lending platform where they allow you to earn a good amount of interest on your crypto holdings.  You can think of it as a crypto savings account of sorts.

The site was launched in 2019 and is based out of Singapore.  They offer variable interest on deposits in Bitcoin, Ethereum, Dai, USD Coin and Tether cryptocurrencies.

The service doesn't charge any fees on deposits, but there is a fee on withdrawal which can change depending on market conditions. 

Open an account through our link below and get $20 when you deposit at least $1,000!

Blockfolio is a multi-featured cryptocurrency app that allows you to track your crypto portfolio (even coins held with with other exchanges), purchase new investments with no fees or stay on top of prices for over 10,000 cryptocurrencies.

Over 6 million people use Blockfolio to buy, sell and track their favorite cryptocurrencies, and it's available in over 200 countries.

Open an account through our link and trade $10 worth of crypto and you'll get a free coin!

Bisq is a decentralized exchange where you can buy and sell bitcoin for fiat (or for other cryptocurrencies). 

The service is run on a peer-to-peer network and open source desktop software that you download to your computer.

There is no registration required, and one of the service's biggest selling points is how it is a privacy first service, with no identity verification required. Your data is stored locally on disk, not in the cloud or on a third party provider.

The site for Bisq has some good video tutorials to walk you through how it all works.

The cryptocurrency exchanges, brokerages and apps are growing in number, features and functionality. 

While our favorites may change as time goes on, for now we believe the best trading platforms are the ones listed above. 

Check out all of the crypto currency trading options again below, along with any promos that may be available for each one. Most of them have a crypto or cash bonus available, or bonuses for referring family and friends.

Have any of your own favorite cryptocurrency trading exchanges, apps or sites? Favorite wallets or other crypto tools? Tell us what they are in the comments!

There are quite a few ways to get free stock. This article will look at 12 companies that are offering free shares and cash bonuses…

Robinhood investing app has commission free trades, free stock when you sign up and the ability to buy fractional shares.Here's a full review.

Webull is a good choice for a self-directed, experienced investor and especially one who favors technical analysis. Here's why to give it a look.

One of the hottest trends right now is bitcoin. The value of a bitcoin recently reached $1,000. But what is Bitcoin? And is it really…

The U.S. securities watchdog has announced it will scrutinize mutual funds that include investments in bitcoin futures markets to verify funds that comply with the Investment Company Act. The institution warned about the dangers of investing in bitcoin futures markets due to the implicit volatility of the underlying asset.

Yesterday, the Securities and Exchange Commission (SEC) released a public statement titled “Staff Statement on Funds Registered Under the Investment Company Act Investing in the Bitcoin Futures Market,” where the institution announced they would ramp up vigilance for funds that have invested in Bitcoin Futures Markets as part of their speculative strategies to maximize profit. The Division of Investment Management, a section of the SEC that oversees mutual funds and other investment products, would be the institution in charge of watching the behavior of these funds.

The public statement also warns these funds about the implicit volatility of bitcoin, and consequently, about the volatility of bitcoin futures markets. The statement argues that:

Investors should consider the volatility of Bitcoin and the Bitcoin futures market, as well as the lack of regulation and potential for fraud or manipulation in the underlying Bitcoin market.

The statement highlights the lack of protection and price manipulation from third parties that the underlying asset can experience, affecting said markets.

The Division of Investment Management announced it would be vigilant on several issues, including analyzing the liquidity of the market to verify if it has the liquidity to sustain these funds. Alongside this, monitoring the impact of these funds on the price of bitcoin, and analyzing the possibility of fraud or manipulation affecting these investment structures.

Consider whether, in light of the experience of mutual funds investing in the Bitcoin futures market, the Bitcoin futures market could accommodate ETFs, which, unlike mutual funds, cannot prevent additional investor assets from coming into the ETF if the ETF becomes too large or dominant in the market

Several proposals for approval of a bitcoin ETF have been filed and rejected by the SEC during the last few years, with its former Chairman Jay Clayton being considered as a bitcoin skeptic in crypto spheres. However, now that Clayton has abandoned his position in the institution, it seems that at least they are considering it.

This year, a plethora of bitcoin ETF applications have been filed, as a result of the rising interest for bitcoin due to the bull market, and even an ethereum ETF has been proposed. However, the tone in which this statement is written is not too optimistic, which might mean it could take some more time before a cryptocurrency-based ETF gets approved in the United States.

What do you think about the SEC scrutinizing funds invested in Bitcoin Futures? Tell us in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

In this article, we discuss the 10 best cryptocurrency startups to watch. If you want to skip our detailed analysis of these startups, go directly to the 5 Best Cryptocurrency Startups to Watch.

Cryptocurrencies have exploded in value from humble beginnings in 2009 when Bitcoin, the most popular cryptocurrency in the world today that touched a market capitalization of more than $1 trillion towards the end of February, was created and launched as the first decentralized cryptocurrency. Since 2012, Bitcoin has gained more than 193,000% in value and accelerated the launch of hundreds of different types of cryptocurrencies. By 2026, the market size for cryptocurrencies is expected to cross $1 trillion in value.

There is little doubt that crypto-related ventures are some of the hottest items in the technology sector. Many big companies who want to integrate revolutionary new technology onto their platforms or just want some exposure to the industry are funding crypto startups. Big tech names such as Alphabet Inc. (NASDAQ: GOOG ) and Amazon.com, Inc. (NASDAQ: AMZN ) are part of this list, along with payments giant PayPal Holdings, Inc. (NASDAQ: PYPL ). Hedge funds and retail investors are jumping on the crypto gravy train as well.

Alphabet Inc. (NASDAQ: GOOG) has invested in Blockchain.com, one of the largest online crypto platforms in the world. Amazon.com, Inc. (NASDAQ: AMZN) owner Jeff Bezos has backed Chipper Cash, a fintech company based in Africa that has rapidly gained popularity across the continent and is now looking to expand overseas. PayPal Holdings, Inc. (NASDAQ: PYPL) earlier this year announced that it was in the process of allowing hundreds of millions of users on its platform to checkout with cryptocurrencies.

As consumer confidence in crypto offerings increases through institutional investments and it becomes clear that crypto is indeed the future of financial services in a digital world, startups that aim to solve crypto-related problems in the market have been gaining in popularity. Cybersecurity, health, and coin exchanges are some of the key segments that investors should monitor as they offer explosive growth potential in the crypto market. It remains to be seen whether the wider finance world, stil reliant on fiat, can weather these tailwinds.

The entire hedge fund industry is feeling the reverberations of the changing financial landscape. Its reputation has been tarnished in the last decade, during which its hedged returns couldn’t keep up with the unhedged returns of the market indices. On the other hand, Insider Monkey’s research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 124 percentage points since March 2017. Between March 2017 and February 26th 2021 our monthly newsletter’s stock picks returned 197.2%, vs. 72.4% for the SPY. Our stock picks outperformed the market by more than 124 percentage points (see the details here). We were also able to identify in advance a select group of hedge fund holdings that significantly underperformed the market. We have been tracking and sharing the list of these stocks since February 2017 and they lost 13% through November 16th. That’s why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Photo by Mario Gogh on Unsplash

With this context in mind, here is our list of the 10 best cryptocurrency startups to watch. These startups were selected keeping in mind the crypto-related problems they aim to solve, the quality of products or services they offer, and their basic business model underpinning the earnings philosophy.

CoinSwitch Kuber is a cryptocurrency exchange primarily facilitating crypto transactions in India. In late April, the firm raised $25 million in funding from Tiger Global Management LLC , the New York-based hedge fund with $43 billion in assets under management. With the latest funding, the company is now valued at over $500 million. Scott Shleifer, a partner at the hedge fund, has told news media in India that the fund is excited to partner with a firm that is well positioned to cash in on the crypto boom among retail investors in the country.

Chase Coleman of Tiger Global

Previously, the crypto exchange had also raised funding from Paradigm, an investment firm founded by Fred Ehrsam. Ehrsam is one of the founders of Coinbase Global, Inc. (NASDAQ: COIN ), the largest crypto exchange in the world.

Coinbase Global, Inc. (NASDAQ: COIN) went public in April in one of the biggest IPOs of the year so far, ending the first day of trading with a market cap of $86 billion.

Coinbase Global, Inc. (NASDAQ: COIN) has earned bullish ratings from many investment advisories in recent weeks even as crypto stocks tumble with the fall in price of Bitcoin.

Just like Alphabet Inc. (NASDAQ: GOOG), Amazon.com, Inc. (NASDAQ: AMZN), and PayPal Holdings, Inc. (NASDAQ: PYPL), Coinbase Global, Inc. (NASDAQ: COIN) is one of the best crypto stocks to watch.

Bitwise Asset Management is a cryptocurrency index fund manager offering clients exposure to crypto investments. Recently, the fund raised $70 million in a Series B funding round led by big names in the hedge fund industry such as Stanley Druckenmiller, who runs Duquesne Capital , and David McCormick, the CEO of Bridgewater Associates. The crypto fund manages more than $1.2 billion in assets and has plans for aggressive expansion in the coming months, CEO Hunter Horsley trying to double the size of his team by the end of the year.

The backing of institutions like Duquesne Capital, one of the leading investment firms in the US with more than $3 billion in assets under management, will help crypto-related offerings gain wider acceptance. A top holding of Duquesne Capital is Microsoft Corporation (NASDAQ: MSFT ), which is also bullish on the crypto industry.

Out of the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Managemen t is a leading shareholder in Microsoft Corporation (NASDAQ: MSFT) with 23.3 million shares worth more than $5.2 billion.

Just like Alphabet Inc. (NASDAQ: GOOG), Amazon.com, Inc. (NASDAQ: AMZN), and PayPal Holdings, Inc. (NASDAQ: PYPL), Microsoft Corporation (NASDAQ: MSFT) is one of the best crypto stocks to watch.

Fetch.AI Limited is an artificial intelligence (AI) company that markets AI solutions for blockchain networks. In late March, the company launched a new version of its Mainnet network with 30 validators that included Outlier Ventures, Forbole, and InfStones, among others. The company has so managed to raise more than $26 million in three funding rounds.

GDA Group and Outlier Ventures have contributed to these rounds. The company is based in the United Kingdom and is placed eight on our list of 10 best cryptocurrency startups to watch.

Another firm with a thriving artificial intelligence business is Baidu, Inc. (NASDAQ: BIDU ), the Chinese technology company that operates the leading internet search engine in the country. The artificial intelligence unit of Baidu, Inc. (NASDAQ: BIDU) was recently called undervalued by investment advisory Daiwa.

At the end of the first quarter of 2021, 89 hedge funds in the database of Insider Monkey held stakes worth $6.5 billion in Baidu, Inc. (NASDAQ: BIDU), up from 51 in the preceding quarter worth $4.6 billion.

Just like Alphabet Inc. (NASDAQ: GOOG), Amazon.com, Inc. (NASDAQ: AMZN), and PayPal Holdings, Inc. (NASDAQ: PYPL), Baidu, Inc. (NASDAQ: BIDU) is one of the best crypto stocks to watch.

Provenance is a company that markets supply chain and product transparency. It operates software that uses blockchain, mobile, and other open sources of data to provide users with the origin, tracking, and impact of products. It has raised more than $1.2 million in funding so far over five rounds. Digital Currency Group and Working Capital Fund are some of the big names that have invested in the company. The company is based in San Francisco and is ranked seventh on our list of 10 best cryptocurrency startups to watch.

A company that operates on a similar business model to Provenance is MongoDB, Inc. (NASDAQ: MDB), the software company providing commercial support for source-available databases. MongoDB, Inc. (NASDAQ: MDB) recently beat market predictions on earnings per share and revenue for the first quarter of 2021.

Out of the hedge funds being tracked by Insider Monkey, Boston-based investment firm Whale Rock Capital Management is a leading shareholder in MongoDB, Inc. (NASDAQ: MDB) with 1.2 million shares worth more than $338 million.

Just like Alphabet Inc. (NASDAQ: GOOG), Amazon.com, Inc. (NASDAQ: AMZN), and PayPal Holdings, Inc. (NASDAQ: PYPL), MongoDB, Inc. (NASDAQ: MDB) is one of the best crypto stocks to watch.

Solve.Care is a company that markets a decentralized blockchain platform for healthcare and related services. The firm links patients to health professionals and coordinates all kinds of benefits, care packages, payments within the system using a smart blockchain contract. It has so far managed to win the backing of several big insurance companies as the platform of the firm can be used to settle different kinds of insurance claims quickly and cheaply. The company has so far raised $30 million in funding over two rounds.

Another company making waves in the healthcare sector with the innovative use of new technology is Teladoc Health, Inc. (NYSE: TDOC), the telehealth stock that has seen a flurry of hedge fund interest in recent months as the coronavirus lockdowns helped the company grow dramatically with people opting to consult health professionals online instead of making the trip to a doctor.

At the end of the first quarter of 2021, 42 hedge funds in the database of Insider Monkey held stakes worth $3.3 billion in Teladoc Health, Inc. (NYSE: TDOC), down from 50 in the previous quarter worth $2.6 billion.

Click to continue reading and see 5 Best Cryptocurrency Startups to Watch.

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Disclose. None. 10 Best Cryptocurrency Startups to Watch is originally published on Insider Monkey.

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Like forex or the stock exchange, investing in cryptocurrency can be lucrative or risky depending on the demand for digital currency. Bitcoin and Ethereum, which are the two of the most popular crypto coins, keep fluctuating. When investing in either option or other coins, it’s best to look at it from a different angle which involves direct exposure to the world of digital currency.

As you embark on your journey to land the best cryptocurrency to invest in, knowing what platforms can increase your chances of getting the best deal is essential. Whether you are joining the crypto market as a new investor or just started dipping your toes in the fledgling new breed of currency, here are some key factors to consider.

While Bitcoin remains a popular digital coin, many others are grabbing the fair market share that newbie investors can try. It boils down to where to buy cryptocurrency. Here is a list of platforms that connect prospective buyers to eligible custodians, crypto exchanges, and e-wallets.

Best Overall: Bitcoin IRA Best Value: BlockFi Best Interface: Coinbase Best Security: Crypto.com Best Exchange Solutions: Kraken

Bitcoin IRA is a platform that links you with e-wallet keepers and crypto exchange programs to conduct crypto transactions at any time and anywhere. Besides offering tax breaks, Bitcoin IRA helps you maximize your financial growth in a tax-free space. It also shares insight into how the market behaves, allowing you to take the necessary first step.

To get started, you will need to create an account that allows you to access your dashboard and e-wallet for funding and live pricing. It also provides a wide array of tips through tutorial videos and articles. Next, you can fund your IRA account and wait for 3-5 business days for approval. Finally, you can start self-trade your digital assets through your account.

As you trade through Bitcoin IRA, remember the digital currency space is very unpredictable, so you’ll want to make sure you have sufficient funds, experience in crypto self-trading, and the willingness to bear the risks of a potential loss of your investment. Fortunately, Bitcoin IRA's dashboard has various educational and price tracking features to guide you along.

The best way to enter the crypto trading space or merge conventional finance and cryptos is by investing through a platform that guarantees zero hidden fees or minimum deposits. That's pretty much the reason BlockFi was born. As one of the most recognized US-based and regulated platforms for crypto-trading, BlockFi can reward you with a compounding interest ranging from 3% and 8.6% on your cryptocurrency investment. However, the interest rate may vary depending on the type of currency you are trading and the market trends.

Gone are the days when only banks and micro-finance institutions were the only places you could borrow from. Now BlockFi can lend you without selling your digital coins for a low interest. That means you do not have to submit your capital gains, saving you from burdensome taxation. Recently, BlockFi became the first platform to launch a Bitcoin reward system through credit cards. Once you earn your first reward, the money will be credited to your account to earn interest immediately.

If you are looking to trade in other crypto coins besides Bitcoin, look no further than Coinbase. The digital coin trading platform was founded in 2012 and is licensed and fully regulated by the US crypto exchange market. When it started, Bitcoin trading was the only activity that the platform authorized. As the demand for other currencies keeps rising, Coinbase welcomes Ethereum, Bitcoin Cash, Litecoin and many others, provided the users adhere to the terms and conditions for self-trading. Now, with Coinbase, you can earn up to $29 worth of Crypto.

The tricks to using Coinbase's dashboard are simple. It starts with creating an account and funding it using your mobile or desktop version. The dashboard has a wide array of features that allow you to build your portfolio. You can buy or sell crypto coins and monitor their performance in one place. The recurring daily, weekly, and monthly buys feature guides you on investing in cryptocurrency gradually over time. Finally, the vault protection feature provides high-grade security for your personal and financial details.

Crypto.com, a digital asset exchange platform, invites you to a storeroom filled with various products and services, from an easy-to-use interface supported by an app to great referral program initiatives. Whether you want state-of-the-art security or quality-assuring e-wallet solutions, Crypto.com will have you covered. Unlike Coinbase, joining Crypto.com is way cheaper. Self-trading is not the only thing you can expect from its exchange program either. Rather, you can earn rewards for referring a friend to the platform and interest and deposits.

When you make credit card purchases on Crypto.com, you earn as much as 0.45 maker fees plus 2.99%. The platform is home to around 137 currencies, making it one of the popular choices for beginners and veteran crypto enthusiasts. Setting up an account with Crypto.com involves a two-step verification process that is instant and guarantees security against third-party theft and cold storage. Once you join, get ready to purchase, sell, gain, withdraw, and exchange e-wallets with other custodians on the platform.

Following the launch of Bitcoin in 2009, crypto exchange programs set the scene to accommodate the growing need for cryptocurrency trading. One such exchange program that followed suit two years after Bitcoin's launch is Kraken. While many years of service is not always synonymous with quality, Kraken continues to offer fiat currency solutions for newbies and advanced crypto-exchange enthusiasts. Today, users can access up to 20 currencies using five fiat currencies like USD, CAD, Japanese Yen, Euro, and Great British pounds.

Unlike other exchange programs, Kraken offers advanced services such as OTC trading, dark pool, futures trading and margin trading. While newcomers may find navigating their way around these services daunting, they can still check out the dashboard for tips. Following its predecessor's (Mt.Gox) security threat, Kraken relies on proof of reserves audit to protect its users from fraud and other forms of malpractices. That means a user's details and financial information will be stored offline in cold wallets.

With headquarters in San Francisco, Kraken maintains transparency by keeping its investors public, making it one of the cryptocurrency market's most secure and trustworthy exchange platforms.

Now that you have decided to invest in Bitcoin and other top cryptocurrencies through an exchange program, knowing the benefits and risks of choosing any of the five options can make or break your self-trading experience. 

Joining some programs may attract hidden charges, but the rewards are worth your investment. On the other hand, others do not impose any registration or retainer fees, but they still have a lot to offer regarding rewards and other perks. Before narrowing down your choice, ensure you read the terms and conditions. Only the dedicated, disciplined, and sufficient capital for investment can survive the test of time since the crypto market is so volatile.

Asset management firm Stone Ridge has filed with the U.S. Securities and Exchange Commission (SEC) for its open-end mutual fund to invest in bitcoin. “This is a big deal. Stone Ridge filing opens the door for every mutual fund to add bitcoin,” said a fellow asset manager.

Stone Ridge Wants Its Mutual Fund to Invest in BitcoinStone Ridge Trust filed Form N-1A with the U.S. Securities and Exchange Commission (SEC) last week. The filing, which is expected to become effective on April 26, relates to the Stone Ridge Diversified Alternatives Fund.

The fund “seeks to generate total returns from diverse investment strategies that we believe have the potential for attractive returns and are diversifying from stocks and bonds,” the filing details. “These strategies include reinsurance, market risk transfer, style premium investing, alternative lending, single-family real estate, healthcare royalties, and bitcoin.” For the bitcoin investment strategy, the filing explains:

[The fund] seeks to generate returns by gaining exposure to the price of bitcoin by selling put options on bitcoin futures contracts. This strategy may also invest in pooled investment vehicles, such as registered or private funds, that themselves invest in bitcoin… Story continues on Bitcoin.com

Asset management firm Stone Ridge has filed with the U.S. Securities and Exchange Commission (SEC) for its open-end mutual fund to invest in bitcoin. “This is a big deal. Stone Ridge filing opens the door for every mutual fund to add bitcoin,” said a fellow asset manager.

Stone Ridge Trust filed Form N-1A with the U.S. Securities and Exchange Commission (SEC) last week. The filing, which is expected to become effective on April 26, relates to the Stone Ridge Diversified Alternatives Fund.

The fund “seeks to generate total returns from diverse investment strategies that we believe have the potential for attractive returns and are diversifying from stocks and bonds,” the filing details. “These strategies include reinsurance, market risk transfer, style premium investing, alternative lending, single-family real estate, healthcare royalties, and bitcoin.”

For the bitcoin investment strategy, the filing explains:

[The fund] seeks to generate returns by gaining exposure to the price of bitcoin by selling put options on bitcoin futures contracts. This strategy may also invest in pooled investment vehicles, such as registered or private funds, that themselves invest in bitcoin.

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Anthony Scaramucci, founder of another asset management firm Skybridge Capital, which itself has about half a billion dollars worth of bitcoin in its bitcoin fund, commented on the filing last week. “Important development in bitcoin. Stone Ridge filed with the SEC to become the first open-ended mutual fund to buy bitcoin,” he wrote. Scaramucci also sees heavy demand for bitcoin from his clients and expects the BTC price to reach $100K by year-end.

Noting that “Stone Ridge will be able to start buying bitcoin on April 26 (when their prospectus goes effective),” he opined:

This is a big deal. Stone Ridge filing opens the door for every mutual fund to add bitcoin (if they want to).

Stone Ridge founder Ross Stevens also founded the New York Digital Investment Group (NYDIG), a bitcoin-only financial services firm. Early this month, the firm filed for a bitcoin exchange-traded fund (ETF) with the SEC. Stevens recently said that he sees “a wall of money” coming into the asset class. NYDIG already has over $6 billion in bitcoin and the firm expects to have over $25 billion in the cryptocurrency by the end of the year.

What do you think about mutual funds investing in bitcoin? Let us know in the comments section below.

Article source

Asset management firm Stone Ridge has filed with the U.S. Securities and Exchange Commission (SEC) for its open-end mutual fund to invest in bitcoin. “This is a big deal. Stone Ridge filing opens the door for every mutual fund to add bitcoin,” said a fellow asset manager.

Stone Ridge Trust filed Form N-1A with the U.S. Securities and Exchange Commission (SEC) last week. The filing, which is expected to become effective on April 26, relates to the Stone Ridge Diversified Alternatives Fund.

The fund “seeks to generate total returns from diverse investment strategies that we believe have the potential for attractive returns and are diversifying from stocks and bonds,” the filing details. “These strategies include reinsurance, market risk transfer, style premium investing, alternative lending, single-family real estate, healthcare royalties, and bitcoin.”

For the bitcoin investment strategy, the filing explains:

[The fund] seeks to generate returns by gaining exposure to the price of bitcoin by selling put options on bitcoin futures contracts. This strategy may also invest in pooled investment vehicles, such as registered or private funds, that themselves invest in bitcoin.

Anthony Scaramucci, founder of another asset management firm Skybridge Capital, which itself has about half a billion dollars worth of bitcoin in its bitcoin fund, commented on the filing last week. “Important development in bitcoin. Stone Ridge filed with the SEC to become the first open-ended mutual fund to buy bitcoin,” he wrote. Scaramucci also sees heavy demand for bitcoin from his clients and expects the BTC price to reach $100K by year-end.

Noting that “Stone Ridge will be able to start buying bitcoin on April 26 (when their prospectus goes effective),” he opined:

This is a big deal. Stone Ridge filing opens the door for every mutual fund to add bitcoin (if they want to).

Stone Ridge founder Ross Stevens also founded the New York Digital Investment Group (NYDIG), a bitcoin-only financial services firm. Early this month, the firm filed for a bitcoin exchange-traded fund (ETF) with the SEC. Stevens recently said that he sees “a wall of money” coming into the asset class. NYDIG already has over $6 billion in bitcoin and the firm expects to have over $25 billion in the cryptocurrency by the end of the year.

What do you think about mutual funds investing in bitcoin? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

After reports surfaced earlier about Morgan Stanley’s intention to reportedly provide its clients access to funds that will allow Bitcoin ownership, the investment banking firm has now decided to enable Bitcoin exposure in several institutional funds. The multinational company today declared in a filing with US Securities and Exchange Commission that it will offer exposure to the flagship cryptocurrency as an investment option through the shares of Grayscale Bitcoin Trust (GBTC) or cash-settled futures. 

According to the filing which was published by SEC on 31 March 2021, the company wrote: 

Certain Funds may have exposure to bitcoin indirectly through cash-settled futures or indirectly through investments in Grayscale Bitcoin Trust (BTC) (“GBTC”), a privately offered investment vehicle that invests in bitcoin. To the extent a Fund invests in bitcoin futures or GBTC, it will do so through a wholly-owned subsidiary, which is organized as an exempted company under the laws of the Cayman Islands (each, a “Subsidiary”). A Fund may at times have no exposure to Bitcoin.

The filing mentioned a list of funds which includes Advantage Portfolio, Asia Opportunity Portfolio, Counterpoint Global Portfolio, Developing Opportunity Portfolio, Global Advantage Portfolio, Global Opportunity Portfolio, among others: 

Last month, the investment bank sent an internal memo to its financial advisors regarding access to three funds that offer Bitcoin exposure. Two of these aforementioned funds are from Mike Novogratzs’ crypto company Galaxy Digital. The third fund was jointly offered by FS Investments, an asset management company, and NYDIG, a Bitcoin-focused investment group. 

The investment banking entity decided to allow only wealthy clients the ability to access Bitcoin, as they were believed to have “an aggressive risk tolerance.” These clients would need to have at least $2 million in assets held by the firm, while investment companies would require at least $5 million to qualify.

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Alisha is a full-time journalist at AMBCrypto. Her interests lie in blockchain technology, crypto-crimes, and market developments in Africa and the United States

U.S. investment bank Morgan Stanley has updated the prospectus of several institutional funds to reflect potential exposure to Bitcoin (BTC) via grayscale and cash-settled futures, once again highlighting the rapid adoption of digital assets by large investment firms.

In a March 31 filing with the US Securities and Exchange Commission, or SEC, Morgan Stanley said it updated the “Investment policies and strategies” section for 12 institutional portfolios. The update allows Morgan Stanley Institutional Fund, Inc. to add Bitcoin to multiple wallets through Grayscale Bitcoin Trust and cash settled futures.

The deposit explains:

“To the extent that a Fund invests in bitcoin or GBTC futures contracts, it will do so through a wholly owned subsidiary, which is organized as an exempt company under the laws of the Cayman Islands. […] Sometimes a Fund may not have exposure to bitcoin. “

The wallets that could be exposed to BTC are:

Rumors of an institutional Bitcoin offering at Morgan Stanley have gained traction in recent weeks after an “internal rating” revealed the bank’s intention to offer crypto exposure to high net worth clients. Morgan Stanley was also connected with Bithumb amid reports the bank was considering a major stake in Korea’s main stock exchange.

As Bloomberg reported in February, Morgan Stanley even considered buying Bitcoin directly through its investment arm Counterpart Global.

(Bloomberg) -- The U.S. Securities and Exchange Commission has a blunt message for investors in mutual funds that have holdings in Bitcoin futures: Beware of the risks.

While the derivatives have become increasingly popular, they’re still based on an asset that’s “highly speculative” and volatile, and which trades in a lightly regulated market, the SEC’s division of investment management said Tuesday in a statement. Investors should weigh their appetite for risk and examine the fund’s disclosures, the agency said.

“Investor protection and assessing the ongoing compliance of these funds is a top priority for the staff,” the SEC said.

The warning comes just weeks after Gary Gensler, who taught classes on digital assets at the Massachusetts Institute of Technology, took over as SEC chairman. His early comments have thrown cold water on speculation that the SEC would quickly approve a Bitcoin exchange-traded fund. Last week, he told lawmakers that the cryptocurrency market “could benefit from greater investor protection.”

Read more: Bitcoin ETF Approval Odds Grow Longer After Gensler Critique

On Tuesday, the SEC said it would “consider whether, in light of the experience of mutual funds investing in the Bitcoin futures market, the Bitcoin futures market could accommodate ETFs.” The agency also said staff would: