India’s social crypto exchange club Defy on Thursday said it has launched Baskets to make investing in cryptocurrencies easier by enabling investors to diversify their portfolio while keeping a track of what experts are investing in.
Baskets consists of a set of coins based on a theme, such as Defi or NFT, and is curated by experts who strongly believe in those coins, themes and investment strategies. Some of the theme-based Baskets available to the investors are blue-chip basket, metaverse basket, gaming basket, Defi basket, NFT basket and altcoins basket.
“Investing in crypto is confusing and to an extent daunting and those are the issues Baskets is looking to resolve. Since its inception, crypto has been home to much volatility and the number of budding coins since then has not made things any easier,” the company said in its statement.
Through Baskets, investors can diversify their portfolio and in turn, reduce the risk that each coin carries and maximize the returns of their portfolio. Investors will also have the option to create their own Baskets.
“Crypto is increasingly getting complex and crypto investors need to continuously keep themselves updated. Defy Baskets will help crypto investors invest quickly and smartly by enabling access to themes, ideas and strategies crafted by experts instead of just investing in individual coins. This will also help investors diversify their portfolio and learn to predict trends by observing experts,” said Bhagaban Behera, co-founder and CEO, Defy.
Baskets on Defy are created by researchers and industry experts in the cryptocurrency space, who have a deep understanding and knowledge of the movements in the crypto market.
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