Considered Investing in Cryptocurrencies But It Seemed to Much Effort? Problem Solved!
There are likely many among you who have kept a general eye on cryptocurrency mania over the past few months and had some interest but actually making a small speculative investment just seemed like too much trouble. Researching and gaining an understanding of different cryptocurrencies to be able to make an educated decision on which to actually buy. Researching how to buy and sell cryptocurrencies and what the best choice of exchange might be. Researching storage and crypto-wallets. It’s quite an undertaking and understandably puts off many.
However, help may be at hand! And with cryptocurrencies taking a bit of a nosedive over the past week, those who follow the ‘buy on the dip’ strategy to investing may see an opportunity. A start-up has launched a new product that offers cryptocurrencies market exposure without the need for hours and hours of research being put it.
A new service called Cblocks has put together cryptocurrency ‘mystery boxes’. Packages start from only $75 and rise to $475 which also makes the crypto pick n mix boxes a potential group present for that skeptical friend who enjoys raining on the parade of all the cryptocurrency enthusiasts around. Cblocks packages consist of five randomly selected cryptocurrencies from the top 300 by market capitalisation. The holdings are loaded onto a USB cryptocurrency wallet and shipped to the buyer, along with introductory guides to each of the 5 cryptocurrencies included.
The product, which is currently unfortunately only available in the USA but plans to launch internationally in coming months, was inspired by online game ‘CryptoRoulette’. The game randomly selects 6 cryptocurrencies and rubs players’ noses in how much profit they would have made if they had invested in them at a particular date I the past.
While investing online in randomly selected cryptocurrencies may not seem like the most sensible approach to maximizing potential returns, it may also be far from as ridiculous as it sounds. Pretty much any cryptocurrency investment would have resulted in huge profits over the course of 2017 as the market soared, particularly towards the end of the year. A study by Venture Capital company Mangrove, also demonstrated that investing blind in every ICO released to date would have resulted in returns of around 1320%.
Cblocks’ mystery cryptocurrency selections are of course not a genuine investment strategy. But for those interested in a little speculative investment punt without investing the time to research the market, or looking for a fun gift for someone, particularly a cryptocurrencies skeptic, why not! And who knows, there’s a small chance returns might just beat those of friends, family and colleagues who wax lyrical about why they are convinced their favoured cryptocurrencies are the horses to bet on.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.