Circle Internet Financial Ltd., a cryptocurrency trading platform funded by Goldman Sachs, has added a new feature to its investment app Circle. Dubbed “Collections,” this new feature was officially introduced via an official blog post dated Oct 4, 2018.
Circle was launched with the vision to make crypto trading simple and convenient for first-time investors. The aptly-named new feature appears to be an important step toward that direction as it allows users to expand their crypto portfolio by collecting multiple coins.
Collections enable Circle users to invest in one or more collections of digital assets, each segmented into one of three distinct categories: Platform, Payments, and Privacy.
The primary objective behind splitting the asset class into three easy-to-grasp categories is to make it much simpler for investors to build a balanced investment portfolio comprising multiple coins from all three categories. The process is simple too — all a user needs to do is pick a category of their preference and the app will instantly present all the coins listed in that particular category. The user then can invest in all those coins in one swoop.
To quote from the blog post announcing the new feature:
A few a months ago, we launched “Buy the Market” – a way for our customers to buy all our listed assets in one tap. This feature was so successful that over 30% of our users are taking advantage of it. Today we are building upon this theme through the launch of 3 additional collections – Platforms, Payments, and Privacy. Users will be able to purchase all the assets in each of these categories in one tap.
Circle also explained that the different coins in each category will be weighted based on their respective market caps. Additionally, the new feature will also carry educational content to ensure that users can make informed decisions rather than following an arbitrary investment strategy.
The company provided further insights into the three-way classification by citing the example of coins that aim to make transactions faster and more efficient:
“Projects like Bitcoin, Bitcoin Cash, Stellar, and Litecoin are trying to build superior payment rails based on blockchain technology so that making payments is as easy, instant, and as borderless as sending an email. If customers are passionate about this category of assets and want to invest, they can simply buy the Payments collection.”
On a related note, Coinbase recently added a similar feature to its platform. Named Bundles, the new feature enabled Coinbase users to purchase all the coins in offering in just a few taps. Both Circle and Coinbase currently offer only a limited collection of coins. However, both companies promise to list more assets with time.
Circle also pointed out that there will be many more projects aimed at expanding real-life applications of blockchain technology as the crypto space continues to evolve. The company ended the blog post by saying that Circle will keep on adding new assets associated with each new promising project so traders can “invest in the categories that most interest them.”