New Wave Capital offers investment services starting with $1K deposit

29 Jul, 2018
by Fifi Arisandi
News
New Wave Capital offers investment services starting with $1K deposit

San Fransisco-based New Wave capital launches the first "robo-advisors" that help "regular people" in cryptocurrency investments. 

The rebounding of Bitcoin price to above $8,000 in recent days, is considered as the right time by New Wave Capital to announce to the public the first "robo-advisors". Aiming to provide cryptocurrency investment portfolio services to more people, the so-called robo-advisors offer their services to "regular people" who seek to invest in cryptocurrencies.

The "regular people" refers to everyone, including those who don't own a minimum income of $200,000 or a net worth of $1 million, which are categorized as accredited investors. 

When the other investment companies, such as Grayscale's Digital Large Cap Fund and CoinList offer similar services limited to accredited investors, to be New Wave's customers, investors are only required to deposit a minimum of $1,000. 

Quoting the co-founder, Albert Cheng said, "... cryptocurrency is supposed to be an open and decentralized thing. We want it to be affordable enough that regular people can participate. As long as you’ve got $1,000, you can invest."

Furthermore, Cheng added, "A lot of people don’t buy crypto because they find it to be too complicated or risky. We hope that’s going to change over time, and that’s why we’re focusing on the coins that are more mature."

As a start, New Wave offers 12 coins in their portfolio, such as BTC, ETH, XRP, BCH, XLM, LTC, ETC, ZEC, OMG, GNT, PAY, and NMR. Using an algorithm that assesses each customer's risk tolerance, the company distributes the fund to the aforementioned coins accordingly.

To determine the customers' risk tolerance, each new customer is required to fill in a questionnaire. It will then give a risk score and suggest allocation percentages among the 12 coins in New Wave's portfolio. For their service, the company will charge a monthly 0.25% fee for all assets under their management. 

As reported by Yahoo! Finance, New Wave, which is an SEC-registered investment advisor, managed to gain their first $50,000 assets during stealth mode alone. 

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