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Where do the bitcoins invested actually reside? Do they basically just act to support a position that you create? or do I 'physically' transfer the BTC to you to invest ... mainly asking from a security perspective
@vinaeco Great question, we work with several investment partners who act as custodians of the bitcoin. The bitcoin resides in investments that track global stock market indices in bitcoin terms.
The onboarding process for a user is that they first pick an investment portfolio (Conservative, Moderate or Aggressive) then deposit the bitcoin to a Keza deposit address (specifically created for that user). Once we receive the bitcoin, we notify users and they can watch their deposit roll in (typically takes 30-45 minutes, 3 blockchain confirmations). Once the bitcoin reaches our wallet, we send it to our partners and it is used to make purchases of the assets for users! Then of course, our simple, intuitive interface makes it straightforward to track the value of those investments!
@kftaylor@vinaeco Kyle, all investments are in bitcoin denominated indices. So you're able to grow your portfolio without the BTC/USD exchange rate impacting returns. Say for example the SP500, FTSE and your portfolio of global equities goes up 2% on an investment of 1.00 BTC, you know have 1.02 BTC. Regardless of what has happened to the BTC/USD value.
Hey Product Hunters :) First, thanks to @nivo0o0 and @eriktorenberg at Product Hunt, appreciate all the help!
Keza’s mission is to expand access of financial services to every corner of the globe. Through bitcoin, as a universal currency, a user from Lagos, Istanbul or Toronto can deposit with Keza in the exact same way. We're excited for Keza to be one of the many financial apps that can scale to more users than we've ever seen before thanks to the global nature of bitcoin. No more will amazing finance apps be restricted to just the U.S. or a select few countries 🙌
Today we're announcing that we're rolling out our public beta, we'll be sending out TestFlight invites to the first 2,000 users. If you're not one of the first 2,000 - don't worry - Keza will be on the iOS app store in the next few weeks. Sign up with your email at getkeza.com for updates!
How Does Keza Work?
With just a few taps, invest your bitcoin in a global portfolio of stocks and bonds. Choose from Keza’s optimally crafted portfolios and track your bitcoin investments over time. With no deposit minimum and low fees, Keza makes it easy to start investing from anywhere in the world.
Key Features:
- Invest in one of three portfolios: Conservative, Moderate or Aggressive.
- Deposit seamlessly using any bitcoin wallet (Coinbase, Blockchain.info, etc.) by sending to your Keza bitcoin deposit address.
- Track and watch the value of your bitcoin denominated investments in real-time.
My co-founder (@brittonstefan) and I will be on Product Hunt all day responding to questions from our booth at the LAUNCH Festival (thanks @jason!). We're huge fans of the community and have found a lot of my favorite apps here, excited to hear what you think of the app!
Cheers,
-Simon and Stefan, Co-Founders of Keza
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@realsimonburns Congrats, Simon! Feels like so long ago we were hacking away on a separate cryptocurrency project. Awesome to see you continue to innovate with Bitcoin. :)
@eranshir@nivo0o0@eriktorenberg@brittonstefan@jason Eran, thank you for the support! Huge fan of Nexar and the vision (pun intended) you have for the company - if only I could emulate your amazing ProductHunt success :)
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Congrats on the launch buddy! Curious - who do you think the main users of the app will be? Do you see yourself introducing more aggressive portfolio options that go beyond just index funds?
@vasunadella Thanks Vasu! Means a lot :) Our core user base is likely going to be users in emerging markets who don't have access to high calibre investments and have moved into bitcoin for either usage for banking services (remittances, cross-border payments) or who see it as a store of value. That's all a pretty wordy way of saying I think the core users will be early adopters of technology, mostly in countries with strong bitcoin adoption, who are looking to invest for their future. They might just like the nice UX too :)
As for more portfolio options, that's certainly on the table! It's interesting how the beta feedback rolls in, we've had feedback to both add more conservative portfolios (all bonds) or to allow for more customization + addition of riskier assets. So the feedback is certainly directed at the extremes! We'll be accumulating more data over the next few weeks and use that to drive the product roadmap, more portfolios are definitely to come!
@abe_storey Hi Abe! We offer three, pre-made portfolios, each with a different risk profile. More customization is coming soon :) The expected annual rate of return (APR) is written underneath each portfolio title. They vary between about 5% and 7%.
@abe_storey Right now the portfolios are crafted using the Modern Portfolio Theory and are designed to be long term "buy and hold" portfolios. This guiding compass of long term investing drives how we design the product. We strive for automation and simplicity, over feature burden and complexity. As for the returns, the portfolio picking screen has details on each portfolio!
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Keza seems like a super solid concept - I use a lot of investing apps and whenever I talk to friends in Europe and South America, they act so jealous. Are you thinking at all about how bitcoin will become more/less stable as a currency in the future? That seems to be a sticking point.
@loganrkerr great question, and thanks for breaking down your use case! We actually hear that a fair amount. It's easy to forget how amazing the investing apps we have in the U.S. are. Bitcoin servers as a much more stable currency for a large portion of the world already, and as bitcoin's volatility continues to go down (as we've listen year on year since 2012), the percentage of the global population for which bitcoin is an attractive currency grows. Everything bodes in the right direction and we're excited to see how bitcoin evolves over time.
The change since just a couple years ago is amazing - India now has a local bitcoin wallet that tailors their app UX for the local population, so too do Nigeria, Brazil and most countries in South East Asia. Users in these countries were buying bitcoin on classifieds sites even in 2013. So the infrastructure is being built and legitimate use cases are coming with the expansion, it's up to the next wave of innovators to figure out what to build using the platform.
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Beautifully made app! I love how it feels just like wallet but with the added benefit of investing my sitting coins. I can't wait to see the adoption on this.
What's the story behind the name, Keza?
@mattprivman Exactly! You're spot on, your perspective is one we've heard echoed from a lot of users. With coins just sitting in accounts, it makes a lot of sense to look at investment options to make a return.
As for the name, we spoke to a lot of users in Brazil and across Latin America. One word that kept coming up was "riqueza", which means wealth in Spanish. We shortened it and added a little quirk to it, and fell in love with Keza. Hope you like it too!
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So awesome, I have so many coins just sitting for years in wallets.
How do you deal with security concerns? What happens if you get hacked or lose coins? I like being able to control my own keys, or keep some in Coinbase which is insured.
@zachherbert Great question Zach, we use best in class wallet infrastructure to manage and store all bitcoin. Our reserves are all held at Coinbase, which as you point out, has an amazing insurance program.
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