When we think of investing in crypto we imagine one deal, monolithic and then years of HODLing. The people at Amberpond imagine another way.
Their app, now available for iOS and Android, lets you buy an index of cryptocur coins that automatically balances itself over time. The founders, Alex Wang, Mario Lazaro and Joom Torsch, had an AI background and met when they were at Homogum, another AI start-up. They brought the machine’s learning and algorithmic wisdom to building a better hedge fund.
The product works like a regular wallet. You add money through the app and then choose an investment strategy including a weighted fund of ethereum, bitcoin and litecoin, or something like Marius 5 S-layer foundation created by Qura commentator Marius Kramer. The system can automatically change currency weights based on prices and other indicators.
“We are the first product in the world that allows anyone to invest as hedge fund cryptocurrency, with only $ 100,” Wang said. “The main difference is that we are not custodial so that all assets are encrypted by the user’s mobile device, we never touch, custody or transfer financial users.
“The missile science is that we understood how to do asset management without taking custody of assets.”
The team has also created an algorithmic hedge fund that automatically engages and significantly reduces human interaction.
The latest saturation of Crypto’s hedge funds has not stopped Amberpond from building its product. The founders established the business themselves, and extorted $ 5,000 each. And they went a long way on such a small seed.
“We had almost $ 2 million in deals last month and now there are millions of properties under management,” Wang said.
“We were thrilled that this technology would allow a family in a third country to have access to financial products like Goldman Sachs and set out to build a product that would do just that,” Wang said.