The growing craves for cryptocurrencies also comes with a challenge – not everyone is schooled in the art of investing or trading cryptocurrencies. This means that the potential to lose your money if you do not know where to trade or when and how to do it is quite high. This limitation has deprived a lot of potential investors the opportunity of making money in the crypto market. While the few ones who know exactly what to do are earning big, the ones without the required skills are constantly searching for competent hands to help them out.
Well, if you are one of those who have not made any meaningful investment in the crypto-sphere, this is good news for you. There’s no more need to get a professional whom you will pay to do some trading on your behalf. What is the good news?
A new app known as the Dust Solution, has been launched to help you invest your spare change in cryptocurrencies. The app aims to assist in streamlining the cryptocurrency purchasing process by investing the small change of users in a customizable spread of digital currencies.
With this, the complexity of investing in Bitcoin, Ethereum, Litecoin and other cryptocurrencies is taken care of. This means you can now depend on the app to help in making the right decision on where and when to invest the spare change you have in buying digital coins to improve your investment portfolio.
The Dust Solution app simply continues from where the famous cryptocurrency investment app Lawnmower stopped in March this year, with the removal of their famous “spare change” aspect. So, with Dust solution, amateur traders can now heave a sigh of relief knowing that the app can do the job on their behalf.
The co-founder of the app Jordan Fish, says that the greatest advantage the app offers is in helping to eliminate hesitation on cryptocurrency investment. The volatility of the cryptocurrency market makes it highly intimidating for new investors, and as such they find it difficult to decide the ideal time to pull the trigger. But with Dust, the buying process is automated and offers users an autonomous way to generate long-term savings.
Currently Dust is in early Alpha. However, crypto enthusiasts who are interested can still register for an alpha invite. According to Fish, he and the other founders of Dust are not currently considering monetizing the platform, but have not also ruled out the possibility of incorporating a fee structure in the future.
It is quite easy to set up the app. You need to connect the app to your bank account, thereby allowing it to see transactions. The app then rounds each transaction up to the nearest dollar and collect the change.
After collecting around $10 of change, the app uses it to invest in a spread of cryptocurrencies. The digital coins include Ethereum, Bitcoin, Litecoin, and other forms of cryptocurrencies, depending on the parameter you set for it. Dust incorporates with Coinbase, one of the largest exchanges online in order to order the cryptocurrencies.
Dust claims it works with up to 9,000 various financial institutions in the United States including “most high street banks.” Some of the banks that Dust supports include Chase, Wells Fargo, and Citi. This is made possible through the integration of the plaid platform. Plaid serves as a financial services technology layer that makes it possible for third-party application to link up with bank accounts, thereby working as a bridge between banks and developers.
It is better for you to shift the risk taking aspect of cryptocurrency investing to an app that is professionally designed to act when the signal is right than try to take a risk with your hard-earned income knowing full well that you could lose everything should there be any error of judgment. Whatever be the case, it is advisable to tread with caution since this app is still in alpha. If you must test it, make sure you are not putting in so much money at this stage until it is fully proven to work fine.
Whether or not the app is able to perform as it promised is a matter that would be determined by time. However, potential investors look forward with enthusiasm to testing the app as soon as they are allowed access to do so.