European digital currency exchange Coinmetro introduced a new “exchange feature” to allow investors to buy their own wallet without having to buy each coin or token individually.
Coinmetro, founded in 2018 in Tallinn, previously offered Dollar Cost Averaging (DCA) to traders to mitigate unpredictable market conditions. But this was limited to recurring purchases on the same asset.
According to the exchange, if a client generally wanted to invest a fixed monthly amount in a wallet (for example, 40% in Bitcoin, 40% in Ethereum, and the rest split between 20 different altcoins), they would have to buy each. room separately and calculate how much to invest in each. This would require up to 22 separate transactions to be completed each month.
With Coinmetro’s new solution, users can increase their wallet size without affecting the asset mix, all in one transaction, in three steps. Customers can simply log into their account, access the Swap widget, and choose to trade in My Wallet instead of investing in each cryptocurrency individually.
“To many people, the world of cryptocurrencies can seem like an exclusive club or a fortress of complexity, and while neither of these things is strictly true, it’s easy to see why some people feel that way,” says Olivier Goble, product manager at Coinmetro. We see this as a design problem, a problem that can be solved, and we are always looking for ways to increase access to crypto with better products that offer more simplicity.
“Our community always tells us that they’re looking for shortcuts to do complex things quickly, and it’s one of those things that traditionally takes a lot of time unnecessarily. Now, when payday rolls around, investors can increase the size of their portfolio evenly without having to make a transaction for each of its components.
Coinmetro’s Swap widget allows users to buy and sell nearly 50 cryptocurrencies. The company is also developing “many more” DCA products and simple portfolio creation and management tools, which will be available to traders in the coming months.