Bitcoin Exchange CoinJar Launches Australia’s First Cryptocurrency Index Fund https://ift.tt/2vDvoKq

Australian bitcoin exchange platform, CoinJar, recently announced the launch of its new CoinJar Digital Currency Fund. The platform states that the fund is Australia’s first index-style cryptocurrency fund for comprehensive investors.

According to CoinJar, on behalf of the investor, the funds are take on the administration and security of the assets. The fundamental cryptocurrency assets are protected safely in multi-signature digital wallets which offer an added layer of security for investors.

The CoinJar Digital Currency Fund offers a less price, an index-style and AUD-denominated vehicle to finance in digital currencies. The Fund provides small to long-term contact in digital currencies where it’s not mandatory for the investors to self-manage custody and safety.

CoinJar further explained that both mixed class and bitcoin class provide comprehensive depositors in a suitable way to invest with Australian dollars, which might provide the modification to traditional asset classes.

Over here first-time users must pay a minimum of $40,000 to the fund, while old investors can make consequent investments in addition of at least $20,000. The Fund has no formation costs, contribution charges or presentation fees. The fund carries a yearly management fee of 2 percent of Bitcoin Class and 1.4 percent for Mixed Class.

Backed by Blackbird Ventures and DCG, CoinJar has particularly handled billions of transactions for more than 3000000 individual and business users, and it uses multi-factor verification such as the password as well as SMS verification to guarantee that their client’s bitcoins are secured, even if their password is negotiated. As an extra layer of protection, the policy stores every detail of customer’s bitcoin holdings offline.

A report published on CCN states that the industry has also developed a growing cryptocurrency byproducts market, with products such as futures, options, and swaps available on both established stock exchanges (CME and CBOE) and upstart trading platforms (LedgerX, Crypto Facilities, among others).

Previously, two institutional investors accomplished the first exchange of physical EFP connecting BTC when they exchanged a position in a bitcoin futures contract for an equal amount of the physical asset itself.

The post Bitcoin Exchange CoinJar Launches Australia’s First Cryptocurrency Index Fund appeared first on OWLT Market.

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