Goldman-Backed Circle Launches Crypto Asset ‘Collections’

Goldman-Backed Circle Launches Crypto Asset ‘Collections’

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October 5, 2018 by Sandra Onyeiwu
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Goldman Sachs funded Circle Internet Financial Ltd. has launched a new feature for its crypto investment app Circle Invest dubbed “Collections,” which includes Platforms, Payments, and Privacy. The three new collections will contain an index of coins based on their main goal/mission. While some crypto-enthusiasts may take issue with the broad categorizations and a clear overlap between
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Goldman Sachs funded Circle Internet Financial Ltd. has launched a new feature for its crypto investment app Circle Invest dubbed “Collections,” which includes Platforms, Payments, and Privacy.

The three new collections will contain an index of coins based on their main goal/mission. While some crypto-enthusiasts may take issue with the broad categorizations and a clear overlap between them, Circle has picked out coins for each collection.

To make things even easier for users, Circle introduced a feature called “buy the market”. With a single tap of the “buy the market” button, you can purchase all the coins on Circle Invest. The coins are weighted based on their market capitalization.

If you buy the market today, for example, then your purchase will consist of roughly 55% bitcoin, followed by ETH, XRP, BCH, and other cryptocurrencies.

The feature is already being used by 30% of Circle Invest users. Typically, the users using this feature are expected to be novice cryptocurrency users. They might not understand the difference between BTC and BCH.

The app will also feature educational content so that investors can make better-informed choices when purchasing cryptocurrencies.

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