Circle Adds 'Buy the Market' Feature to Crypto Investment App

NEWS
Nikhilesh De
May 22, 2018 at 16:00 UTC  |  Updated  May 23, 2018 at 10:50 UTC

Payments startup Circle has launched the full version of its crypto investment app.

After a soft launch back in March 2018, the company is making the app with its full suite of services available as of Tuesday. Circle first announced its investor-focused app back in November and later released it in 46 U.S. states as part of an "early access availability" phase.

One of the features going live on Tuesday is the "Buy the Market" tool, which is geared toward newer users, Circle senior product manager Rachel Mayer told CoinDesk.

"'Buy the Market' is the culmination of all we've been doing since the soft launch," she said, going on to explain:

"It's trying to solve the problem of signing up and trying to be a newbie investor and you're not sure how much to put in and where and why. 'Buy the Market' is just a very easy way to invest in the seven supported assets on Circle Invest, you choose the funds you'd like to invest in, and we do the rest. We automatically divide the investment into each specific coin market cap waiting and you can purchase the coin instantly."

"The focus is the market," Mayer added.

Circle Invest will mark assets up by 1 percent when users buy or sell a particular cryptocurrency, but will not charge any fixed fees on top. This differs from existing trading platforms, which she said charge both a markup and trading fees.

In recent weeks, Circle has added support for cryptocurrencies such as monero and zcash. Mayer told CoinDesk that Circle was "actively thinking about when to add new coins," but didn't elaborate on when or which cryptocurrencies would be added to the app.

Bitcoin tokens image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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