n March, Coinbase launched its own cryptocurrency index, naturally based on the coins they offered. Now the San Francisco-based company announces the creation of an investment fund, called the Coinbase Index Fund, reserved for large investors, with a cut from 250,000 to 20 million dollars.
This is a product that can therefore apply to both private investors and institutional operators, such as investment funds in cryptocurrencies or hedge funds.
Of course the cryptocurrencies treated are only those related to the Coinbase platform, so they are:
Bitcoin weighed at 61.5%
Ethereum weighed at 27.2;
Bitcoin Cash, weighed at 8.2%
Litecoin weighed at 3.1%
Currently, Ethereum Classic (ETC) is not supported, although a few days ago it was officially announced its introduction in the bouquet of the exchange, causing the quadrupling of the volumes exchanged in 24 hours. However, its integration can be expected in a short time.
At the moment only accredited investors in the United States are admitted, therefore either private american residents or financial operators . All private investors must have assets of at least one million dollars, with incomes of at least $ 200,000 a year.
This will clearly limit the number of eligible investors but allows the offer to be reserved only for that range of operators who can accept the risk associated with an investment in cryptocurrencies.
The fund will be reviewed several times a year based on the performance of the various cryptocurrencies and security, based on their listing and development prospects.
The managerial work will be paid with an annual fee of 2%, based on the potential profits that can be produced by the fund.
So it is to be presumed that there will be a multi-annual commission compensation mechanism in the event of failure to reach the target.
After Coinbase Index Fund, the company is expected to launch more funds in the future, over a wider range of cryptocurrencies, accessible to all investors, but has not given any specific time period to the transaction.
Coinbase Is Now Offering Free $50 In EOS With Coinbase Earn
Many people are looking to get their hands on as much cryptocurrency as possible these days. They feel they are stocking up for an upcoming explosion of cryptocurrency value that will only be seen once in a lifetime. While it is unknown what the future brings for this speculation, opportunities are arising that are providing some real chances to get some sweet sweet cryptocurrency. Coinbase is helping to feed the hunger of these crypto-crazy individuals by educating them about the various coins in the hopes of future investments based on the noble technology of the coins.
Coinbase has been very popular lately. It has offered enthusiasts the opportunity to earn crypto with it’s Coinbase Earn program. Coinbase Earn launched earlier in 2019 and allows current Coinbase customers the chance to earn cryptocurrency like 0x, Zcash, Dai and Stellar Lumens. This week, Coinbase upped their game by issuing current customers a chance to score up to $50 in EOS through their earn program.
Coinbase Earn works by having the customer watch very short and easy to follow videos detailing a specific cryptocurrency. Once the video is complete, customers are given a very easy quiz question to answer. For each correct answer, the customer is issued a certain quantity of cryptocurrency into their wallet. In some cases, you can earn even more cryptocurrency by inviting friends to come take the quizzes as well.
EOS was recently added to Coinbase. Several short months afterwards, they opened up their Earn program to customers and offered $10 in EOS upon completion of their quizzes. This week, Coinbase upped the ante and is now issuing customers an opportunity to earn up to $50 in EOS. To join Coinbase earn and start earning free altcoins, click this link. You must be a current Coinbase member to take advantage of this opportunity. If you are not yet a Coinbase member and want to take advantage of this Coinbase Earn promotion, you can first join here and make a $100 purchase (will receive $10 in Bitcoin for free). From there, you can be a part of the fun. Be sure to follow me on twitter @MarcusHenryHODL and let me know if this opportunity worked for you!
Marcus Henry is an American Journalist with over 11 years working in the tech industry. He has been actively involved in the crypto community for the past three years and currently works out of Austin, Texas. He covers breaking news, writes perspective pieces and reflections, and conducts interviews with industry professionals and community members. Follow Marcus Henry on Twitter- @MarcusHenryHODL
Disclaimer: The information above does not constitute investment, financial, trading or any other sort of advice and you should not treat any of my content as such. I do not recommend the purchase, sale, or holding of any cryptocurrency or other product and nothing I write about should be deemed as an offer to purchase, sell, or hold a cryptocurrency or other product or service. Please do your own research and consult a certified financial professional before making any investment decision.
Coinbase Backs Up “Decentralized Flickr” Startup Textile
Coinbase Ventures, Multicoin, BlueYard Capital and Collaborative Fund are investing $1.5 million in a new protocol applied by data startup Textile.
Textile aims to create a tool which enables developers to store files more easily in a decentralized manner.
The app mimics the functionalities of a decentralized Flickr, but Textile wishes to aid users to control their own data by implementing the Interplanetary File System (IPFS). IPFS is an open protocol developed by Protocol Labs, which also was behind the Filecoin ICO.
“IPFS’s story is under-shared, in my opinion,” stated co-founder and CEO Textile, Andrew Hill. “It’s one of the greatest inventions of the past decade and has already proven its value in countless real-world examples.”
The new architecture for the web created by IPFS allows data to be stored by its content instead of its location, meaning more copies could be stored in more locations all over the world. This system also ensures that data will not disappear when one link goes offline.
BlueYard has already invested in Protocol Labs and other IPFS- based applications.
BlueYard co-founder Ciarán O’Leary stated in an email sent to CoinDesk:
“We think the internet would be better if we were to re-think it away from the server-client model and create a web where apps would permission data from users, versus the other way around.”
O’Leary also explained that even though the technology on which the project is based is efficient, the Textile’s software is required to improve its user experience.
Multicoin has faith in Web3 and believed that a data storage solution is required in the sector. He dubbed Textile an “iCloud for Web3” that “is one of the most perfect examples of a Web3 developer tooling infrastructure play.”
This is the first investment in IPFS technology for both Multicoin and Collaborative Fund. Collaborative’s Taylor Greene said that his company was already interested in investing in decentralized data storage and that “Textile is the most elegant solution that we’ve seen in that space.”
The co-founder stated that Textile “makes it possible for users to own their data, and share (or revoke) that data with trusted applications – or anyone else for that matter.”
“It is not possible to imagine humanity becoming even more digital without a new and thoughtful approach to data ownership and our right to control our own digital data.”- concluded Hill.
Users are able to sign up for the waiting list to use Textile’s own photos app, which showcases how the software works.
Coinbase and Ripple Back Ethereum, EOS,Tron Competitor
A new public blockchain just raised over $12 million in a funding round led by crypto hedge fund Metastable Capital with several backers, including Coinbase Ventures, Ripple’s Xpring and Pantera. The platform, called Near, is geared for developers to build decentralized applications in direct competition with industry leaders Ethereum, EOS and Tron.
According to the announcement, the Near team is comprised of programming veterans from Google, Facebook and other major tech firms. Their mission is to radically increase transaction throughput and remove any theoretical capacity limit.
Says CEO Alex Skidanov,
“Assembling a world-class development team and creating the technology is really just the first step – the next is launching a global movement that puts blockchain technology in the hands of the developers and entrepreneurs who will carry it to consumers everywhere via the apps and businesses they create.”
The leading platforms have been striving to achieve mainstream adoption, with gaming and gambling DApps consistently ranking as the most popular. According to DappRadar, TRONbet currently ranks number one with $8.4 million in transactional volume over the past 24 hours, significantly outperforming Dice on EOS, which ranks second with $193,000 over the same time period.
According to the Near team,
“The NEAR Protocol makes decentralized applications nearly as easy to build and use as today’s web apps while achieving global scale by using a novel sharding approach and consensus mechanism called Nightshade.”
As the blockchain and crypto industry experiences rapid growth, industry leaders are increasingly diversifying to build their brands and expand their ecosystems, moving fluidly from building crypto exchanges and fiat on-ramps to payment platforms to cross-border payment solutions to decentralized applications to stablecoins to custody services.
With heavy-hitting newcomers entering the space, such as Facebook, along with big initiatives from major tech companies such as IBM’s cross-border, Stellar-based payment platform World Wire, the avalanche of competitors is making it difficult to place bets and discern which brand will win over consumers and trigger sustained mass adoption.
Reshaping the financial system, specifically cross-border payments, is one of many potential applications that may spur billions to adopt cryptocurrencies and blockchain-based systems.
In a recent Twitter thread, Ripple’s chief technology officer David Schwartz says,
“I’m quite confident that payments are about to be severely disrupted because they are just too broken and we have the tech to fix it. I get less confident when the question is what tech will do the disruption or where we’ll end up.”
Near plans to use its new funds to recruit more developers to accelerate the development of additional tooling. The startup recently launched a beta program to support select projects that are expected to release their applications on the platform later this year.