Navigating the Crypto Maze: How BitSave is Simplifying Digital Investments
November 27, 2024, 4:29 am
The world of cryptocurrency is a labyrinth. With over 100 tokens available on Indian exchanges, newcomers often feel lost. The options are dizzying. Bitcoin, Ethereum, memecoins—each one a different path. Many investors hesitate, unsure of where to step next. Enter BitSave, a startup designed to light the way.
Founded in 2022 by Zakhil Suresh, Sajal Sharma, Asif Kattakath, and Vishnu Karthik, BitSave aims to simplify crypto investing. Their approach is straightforward: a systematic investment plan (SIP) tailored for passive, long-term investors. The goal? To cushion the volatility that often sends investors into a tailspin.
Recently, BitSave secured pre-Series A funding from Leo Capital, a Singapore-based venture firm. The amount remains undisclosed, but the implications are clear. This capital will enhance licensing, product development, and brand awareness. The startup is on the rise, and it’s ready to make waves.
BitSave launched its first product in 2023, offering a user-friendly way to invest in digital assets through monthly SIPs. The platform is designed for simplicity. Investors can complete their transactions in just ten seconds a month. It’s a breath of fresh air in a space often clouded by complexity.
The journey to BitSave began in 2017 with Koinex, India’s first multi-asset crypto exchange. Suresh and his team started as a small brokerage, helping users buy and sell Ethereum. Their partnership with Koinex blossomed, leading to significant growth. However, the story took a turn in 2019 when Koinex shut down due to regulatory pressures from the Reserve Bank of India (RBI). This setback was a lesson. The founders learned that the crypto landscape was evolving rapidly, and new investors needed guidance.
As the number of tokens exploded, so did the confusion. Many investors lost money chasing trends or simply chose not to invest at all. BitSave was born from this realization. The founders understood that a guiding hand was necessary in this chaotic environment.
The platform currently boasts around 520 active users and manages approximately $450,000 in assets. While it aims for global reach, 90% of its users are still based in India. This focus allows BitSave to refine its offerings and cater to local needs.
BitSave’s strategy revolves around a carefully curated index. After extensive research, the team chose Bloomberg’s Galaxy Crypto Index (BGCI) as their benchmark. This index measures the performance of major crypto assets, providing a more stable foundation for long-term portfolios. Unlike other indices, BGCI avoids including assets that have historically underperformed, such as Luna or FTX.
The first product from BitSave tracks this index, including Bitcoin, Ethereum, and other top assets. They also offer a hybrid product that combines Bitcoin, Ethereum, and gold. This unique blend aims to reduce risk for first-time investors, making the crypto landscape less intimidating. The third product focuses solely on Bitcoin, providing a straightforward entry point into the market.
BitSave operates on a standard management fee structure. They charge 1.5% for their index and hybrid products and 0.95% for the Bitcoin-only product. This transparency builds trust, a crucial element in the often murky waters of crypto investing.
Security is paramount in the crypto world. BitSave employs institutional custody to safeguard assets, drawing inspiration from traditional mutual fund storage methods. This approach ensures that user assets are protected and not part of the company’s balance sheet. Users are not creditors; BitSave holds their assets on their behalf.
Regulation is another critical aspect. The founders believe that the entire crypto ecosystem shares the responsibility of ensuring compliance. In India, capital flight poses a significant challenge. The RBI is cautious about allowing free movement of money, especially in a cross-border context. BitSave advocates for treating crypto as an asset rather than a currency, a shift that could pave the way for clearer regulations.
As BitSave prepares to expand into other Asian markets in 2025, the potential for growth is immense. The company is finalizing its Financial Intelligence Unit (FIU) certification, which will require adherence to anti-money laundering guidelines. This step is vital for building credibility and trust in the market.
Investors are optimistic about BitSave’s future. Leo Capital’s Ravi Srivastava highlights the startup’s capable team and its strategic approach to navigating the volatile crypto landscape. The belief in crypto as an emerging asset class is strong. Data consistently shows that crypto can enhance portfolio resilience and performance.
In a world where many investors feel overwhelmed, BitSave stands as a beacon. It offers a path through the chaos, guiding users toward informed decisions. The startup’s commitment to simplifying crypto investing is not just a business model; it’s a mission. As the crypto landscape continues to evolve, BitSave is poised to lead the charge, making digital assets accessible to all.
In conclusion, BitSave is more than just a platform; it’s a revolution in crypto investing. By demystifying the process and providing a safety net for new investors, it’s changing the game. The future of crypto may be uncertain, but with BitSave, navigating it has never been easier.
Founded in 2022 by Zakhil Suresh, Sajal Sharma, Asif Kattakath, and Vishnu Karthik, BitSave aims to simplify crypto investing. Their approach is straightforward: a systematic investment plan (SIP) tailored for passive, long-term investors. The goal? To cushion the volatility that often sends investors into a tailspin.
Recently, BitSave secured pre-Series A funding from Leo Capital, a Singapore-based venture firm. The amount remains undisclosed, but the implications are clear. This capital will enhance licensing, product development, and brand awareness. The startup is on the rise, and it’s ready to make waves.
BitSave launched its first product in 2023, offering a user-friendly way to invest in digital assets through monthly SIPs. The platform is designed for simplicity. Investors can complete their transactions in just ten seconds a month. It’s a breath of fresh air in a space often clouded by complexity.
The journey to BitSave began in 2017 with Koinex, India’s first multi-asset crypto exchange. Suresh and his team started as a small brokerage, helping users buy and sell Ethereum. Their partnership with Koinex blossomed, leading to significant growth. However, the story took a turn in 2019 when Koinex shut down due to regulatory pressures from the Reserve Bank of India (RBI). This setback was a lesson. The founders learned that the crypto landscape was evolving rapidly, and new investors needed guidance.
As the number of tokens exploded, so did the confusion. Many investors lost money chasing trends or simply chose not to invest at all. BitSave was born from this realization. The founders understood that a guiding hand was necessary in this chaotic environment.
The platform currently boasts around 520 active users and manages approximately $450,000 in assets. While it aims for global reach, 90% of its users are still based in India. This focus allows BitSave to refine its offerings and cater to local needs.
BitSave’s strategy revolves around a carefully curated index. After extensive research, the team chose Bloomberg’s Galaxy Crypto Index (BGCI) as their benchmark. This index measures the performance of major crypto assets, providing a more stable foundation for long-term portfolios. Unlike other indices, BGCI avoids including assets that have historically underperformed, such as Luna or FTX.
The first product from BitSave tracks this index, including Bitcoin, Ethereum, and other top assets. They also offer a hybrid product that combines Bitcoin, Ethereum, and gold. This unique blend aims to reduce risk for first-time investors, making the crypto landscape less intimidating. The third product focuses solely on Bitcoin, providing a straightforward entry point into the market.
BitSave operates on a standard management fee structure. They charge 1.5% for their index and hybrid products and 0.95% for the Bitcoin-only product. This transparency builds trust, a crucial element in the often murky waters of crypto investing.
Security is paramount in the crypto world. BitSave employs institutional custody to safeguard assets, drawing inspiration from traditional mutual fund storage methods. This approach ensures that user assets are protected and not part of the company’s balance sheet. Users are not creditors; BitSave holds their assets on their behalf.
Regulation is another critical aspect. The founders believe that the entire crypto ecosystem shares the responsibility of ensuring compliance. In India, capital flight poses a significant challenge. The RBI is cautious about allowing free movement of money, especially in a cross-border context. BitSave advocates for treating crypto as an asset rather than a currency, a shift that could pave the way for clearer regulations.
As BitSave prepares to expand into other Asian markets in 2025, the potential for growth is immense. The company is finalizing its Financial Intelligence Unit (FIU) certification, which will require adherence to anti-money laundering guidelines. This step is vital for building credibility and trust in the market.
Investors are optimistic about BitSave’s future. Leo Capital’s Ravi Srivastava highlights the startup’s capable team and its strategic approach to navigating the volatile crypto landscape. The belief in crypto as an emerging asset class is strong. Data consistently shows that crypto can enhance portfolio resilience and performance.
In a world where many investors feel overwhelmed, BitSave stands as a beacon. It offers a path through the chaos, guiding users toward informed decisions. The startup’s commitment to simplifying crypto investing is not just a business model; it’s a mission. As the crypto landscape continues to evolve, BitSave is poised to lead the charge, making digital assets accessible to all.
In conclusion, BitSave is more than just a platform; it’s a revolution in crypto investing. By demystifying the process and providing a safety net for new investors, it’s changing the game. The future of crypto may be uncertain, but with BitSave, navigating it has never been easier.