What is Bit20?
Bit20 is a cryptocurrency index fund.
But how exactly is it made, what are the coins in it and how can I invest in it?
I'm here to share with you this promising blockchain project and answer all your questions.
Let me start by clearing a few things. I like BitShares because it doesn´t compete against other cryptocurrencies but actually, work to unify the space by providing a decentralised exchange where everyone will be able to trade without having to sacrifice his identity or risking his money beeing goxxed.
With that said, I´m not here to speak about BitShares, I´m here to speak about Bit20 which is actually built on it.
I have been working since July 2015 on this project and I'm happy to announce that it has been finally finished.
I wanted to create a tool that allows anyone to invest in the global economic growth of cryptocurrencies without a headache. Just buy something that will track this soon economic Cambrian explosion.
This tool had to be decentralised because we all know how centralised projects dealing with money end up, especially in the cryptocurrency world.
So my team and I have created a cryptocurrency index fund (ETF like). The index includes 20 major coins, STEEM, off course is included in the index.
I want to spread the information about this index fund in the crypto community so everyone can invest in a great asset that will grow as the cryptocurrency global market grows. Not something going up and down wildly, but more something like a monster slowly waking up and devouring the fiat money markets.
I want it to be a place where you can store your value with a high probability that months later, you will still have your investment intact and a nice return on investment.
I also want to spread the word out of cryptocurrencies. My plan is to start with the cryptocurrency savvy crowd and then move on to trading forums, forex, stock markets and others. This is how I aim to make new money comes into this space. The bigger the index daily volume will grow, the easier is going to be to promote it and make people interested in crypto.
The index took almost a 2 years to be fully tested and heavily reviewed. It´s finally ready and has been officially launched on the BitShares decentralised exchange on 16/12/2016. The index is fully decentralised and every Bit20 will always be backed by a minimum of 175% of its value.
This is 100% secure, 100% decentralised, 100% pure cryptocurrency !
If you have any question, please have a look on the website at the "FAQ" and "About Bit20" tab. If you don't find what you are looking for, I'll do my best to answer in this post.