Yesterday Coinbase launched its newest product: a crypto index fund.
Right now, it's pretty limited, open to accredited investors in the US and restricted Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. They tweeted out their future plans:
- Step 1. Offer Coinbase Index Fund to US-resident, accredited investors.
- Step 2: Make available to all investors.
- Step 3: Launching more funds which cover a broader range of digital assets.
They're not alone: Metastable Capital and Bitwise launched over the summer, also restricted to US-based accredited investors.
BUT, crypto is built to be decentralized, democratic, and open. So, here's how to build your own index fund of investments (no accreditation required):
- Step 1. Have money.
- Step 2. Buy bitcoin from Square Cash (for free!), Coinbase, Robinhood Crypto, LibertyX, or your favorite exchange.
- Step 3. Pick your preferred tokens from this always-updating list.
- Step 4. Convert your Bitcoin into any token with Shapeshift.
- Step 5. Auto-balance your portfolio with this tool.
- Step 6. Store each cryptocurrencies securely with a software or hardware wallet (like a Trezor).
- Step 7. Monitor your portfolio with Delta.
- Step 8. Pay your crypto taxes correctly with TokenTax or Visor.
- Step 9. HODL 🚀🌕
Baffled? Token Daily curates the most important crypto news, and here's a stunning visual explanation of the blockchain. ✨