Ayondo, the German FinTech group created in 2008, just launched the Bitcoin trading as the new product of its trading portfolio.
The idea ? To use the cryptocurrency rapid growth to provide its customers with “an easy access to the price movement of Bitcoin without the need to open up an e-wallet to purchase bitcoin in the Internet”.
Whether it is Bitcoin or more traditional currencies, the Ayondo functioning is based on social trading:
- the customer finds the “Top traders” he wants to follow depending on their performance, the nb of followers, their risk score, etc.
- he builds his portfolio simulating his investment performance regarding the traders selected
- he defines his strategy (e.g. automatic trading execution depending on the top traders followed) & starts to invest (£1K min paid by card to follow 5 top traders – or risk-free account)
- he monitors the performances, of his own investment as the one of the “Top traders” he follows through the dedicated trading platform (computer or smartphone TradeHub platform)
Detected via Finextra