Ayondo, or Bitcoin as the new currency for social trading

 

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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:

  1. the customer finds the “Top traders” he wants to follow depending on their performance, the nb of followers, their risk score, etc.
  2. he builds his portfolio simulating his investment performance regarding the traders selected
  3. 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)
  4. 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

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