Coinbase launched 2 NEW products 🏦

Yesterday, crypto-unicorn Coinbase launched two big products to support the next generation of crypto hedge funds.

Cryptocurrency-focused hedge funds like Metastable Capital and Polychain manage hundreds of millions, every new fund is forced to build their own internal trading infrastructure.

Coinbase's new products both make launching your own cryptocurrency hedge fund easier:

🔒 Coinbase Custody lets funds and institutions store their tokens inside Coinbase's secure vault, responsible for protecting over $20 billion in customer deposits every day.

🏦 Coinbase Prime is a powerful cryptocurrency trading platform for institutions. It's drastically similar to GDAX, which Coinbase publicly spun off in 2016 for more experienced traders.

Details are sparse on Prime, but it's fair to assume that this will be primarily marketed towards crypto hedge funds.

If you're itching to invest in crypto, you can build your own index fund of tokens without paying Coinbase:

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 or Cointracker.
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. ✨

Coinbase Prime 🤑

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