Asset Management is Coming to Crypto with Blox.io

Wednesday, 23/05/2018 | 08:31 GMT by Finance Magnates Staff
  • Blox has announced its Blox Business platform that makes it easy for companies to manage their digital assets.
Asset Management is Coming to Crypto with Blox.io
Blox.io

It’s been more than 18 months since the world in mass first took notice of Cryptocurrencies . A surge in value accompanied unbridled interest in digital currencies, which were a perfect product for a culture already embracing a digital-first ethos. The year and the product were an ideal fit for one another.

During that time, the crypto landscape has changed tremendously. In a head-turning example of value increase, digital currencies transformed from a sub $20 billion market that was almost entirely comprised of Bitcoin investment to a market that, at its peak, exceeded $850 billion and saw Bitcoin’s dominance fall to nearly a third of all crypto assets.

In January, crypto hedge fund manager and owner of the crypto-focused publication, Distributed, Jeremy Gardner expressed his surprise and hesitancy toward crypto markets. He told The New York Times, “Nothing feels real, it doesn’t feel real.”

He added, “I’m ready for crypto assets to go down 90 percent. I’ll feel better then, I think. This is insane.”

Growing interest from individual investors

While crypto markets didn’t drop 90 percent, they have cooled significantly since their January peak, and many believe that the markets are beginning to stabilize. As a result, more individual investors are showing interest in digital currencies. For many, crypto markets were too hot to handle a few months ago, but now they are ready to invest.

What’s more, businesses are starting to get involved as well. Overstock.com was one of the first to embrace digital currency at checkout, and some companies are following their lead. More significantly, there are hundreds of new Blockchain -based companies that deal in digital currencies.

As a result, they have accrued significant crypto assets that are critical to their business but are challenging to manage.

The problem of asset management

Unfortunately, managing all of these assets is a complicated task. Unlike more mature investment vehicles like the stock market, the crypto ecosystem is comprised of dozens of disparate platforms that neither communicate with one another nor are compatible with one another’s products. The result is a cadre of accounts that users must manage.

Especially when pursuing currencies beyond Bitcoin, investors have to oversee a complex array of currency exchanges, digital wallets, cold storage mechanisms, and other investment related services. Picking the right services is challenging enough, but effectively maintaining these accounts can be nearly impossible.

Especially for business, the process of accounting for, managing, and reporting crypto assets can be extremely confusing. While crypto’s relative novelty makes these circumstances understandable, they are definitely not necessary.

A simple solution

To simplify asset management for traditional financial investments, QuickBooks introduced a platform that enabled users to quickly and easily navigate their financial accounts from a single interface. In fact, several platforms offer similar services for traditional assets.

Now, crypto investors can enjoy the same features that traditional investors enjoy. Blox is a new mobile and web platform that brings together multiple exchange and wallet accounts into a single, user-friendly interface.

To better serve businesses, Blox recently announced its Blox Business platform that makes it easy for companies that are investments funds to manage their digital assets. The process is simple, but the tools are powerful.

From a single login on a mobile app or web browser, users can access tracking and reporting tools for their crypto assets so that they can make the most informed and inclusive decisions about their investments.

This is already working for dozens of companies. Blox currently has $2 billion in crypto assets under management, and their projects indicate further growth on the horizon. Companies like Wings, eToro, and Chainlinker capital are already implementing Blox into their organizations.

To best serve customer needs, Blox provides three options for accessing its services: high net, business, and corporate. The high net plan serves wealthy individuals who are striving to manage their crypto assets better, while the business and corporate plans address different sized companies who are pursuing better asset management strategies. Regardless of who is utilizing Blox, the service is incredibly timely.

An Important Change

Investopedia describes crypto asset management as “the next big thing,” and it’s easy to see why. As the site’s editorial team notes, “Ultimately, cryptocurrency optimism and embrace will only be sustained if new entrants in the market are able to easily participate.”

In short, crypto’s future proliferation is contingent on platforms like Blox making the process simple and easy for anyone to use. For individual investors and companies, the ability to easily track, manage, and report cryptocurrencies is the feature that makes them most functional.

Cryptocurrencies are an intricate and complex web of products and services, but managing those digital assets just got a whole lot easier.

Disclaimer: This is a contributed article and should not be taken as investment advice

It’s been more than 18 months since the world in mass first took notice of Cryptocurrencies . A surge in value accompanied unbridled interest in digital currencies, which were a perfect product for a culture already embracing a digital-first ethos. The year and the product were an ideal fit for one another.

During that time, the crypto landscape has changed tremendously. In a head-turning example of value increase, digital currencies transformed from a sub $20 billion market that was almost entirely comprised of Bitcoin investment to a market that, at its peak, exceeded $850 billion and saw Bitcoin’s dominance fall to nearly a third of all crypto assets.

In January, crypto hedge fund manager and owner of the crypto-focused publication, Distributed, Jeremy Gardner expressed his surprise and hesitancy toward crypto markets. He told The New York Times, “Nothing feels real, it doesn’t feel real.”

He added, “I’m ready for crypto assets to go down 90 percent. I’ll feel better then, I think. This is insane.”

Growing interest from individual investors

While crypto markets didn’t drop 90 percent, they have cooled significantly since their January peak, and many believe that the markets are beginning to stabilize. As a result, more individual investors are showing interest in digital currencies. For many, crypto markets were too hot to handle a few months ago, but now they are ready to invest.

What’s more, businesses are starting to get involved as well. Overstock.com was one of the first to embrace digital currency at checkout, and some companies are following their lead. More significantly, there are hundreds of new Blockchain -based companies that deal in digital currencies.

As a result, they have accrued significant crypto assets that are critical to their business but are challenging to manage.

The problem of asset management

Unfortunately, managing all of these assets is a complicated task. Unlike more mature investment vehicles like the stock market, the crypto ecosystem is comprised of dozens of disparate platforms that neither communicate with one another nor are compatible with one another’s products. The result is a cadre of accounts that users must manage.

Especially when pursuing currencies beyond Bitcoin, investors have to oversee a complex array of currency exchanges, digital wallets, cold storage mechanisms, and other investment related services. Picking the right services is challenging enough, but effectively maintaining these accounts can be nearly impossible.

Especially for business, the process of accounting for, managing, and reporting crypto assets can be extremely confusing. While crypto’s relative novelty makes these circumstances understandable, they are definitely not necessary.

A simple solution

To simplify asset management for traditional financial investments, QuickBooks introduced a platform that enabled users to quickly and easily navigate their financial accounts from a single interface. In fact, several platforms offer similar services for traditional assets.

Now, crypto investors can enjoy the same features that traditional investors enjoy. Blox is a new mobile and web platform that brings together multiple exchange and wallet accounts into a single, user-friendly interface.

To better serve businesses, Blox recently announced its Blox Business platform that makes it easy for companies that are investments funds to manage their digital assets. The process is simple, but the tools are powerful.

From a single login on a mobile app or web browser, users can access tracking and reporting tools for their crypto assets so that they can make the most informed and inclusive decisions about their investments.

This is already working for dozens of companies. Blox currently has $2 billion in crypto assets under management, and their projects indicate further growth on the horizon. Companies like Wings, eToro, and Chainlinker capital are already implementing Blox into their organizations.

To best serve customer needs, Blox provides three options for accessing its services: high net, business, and corporate. The high net plan serves wealthy individuals who are striving to manage their crypto assets better, while the business and corporate plans address different sized companies who are pursuing better asset management strategies. Regardless of who is utilizing Blox, the service is incredibly timely.

An Important Change

Investopedia describes crypto asset management as “the next big thing,” and it’s easy to see why. As the site’s editorial team notes, “Ultimately, cryptocurrency optimism and embrace will only be sustained if new entrants in the market are able to easily participate.”

In short, crypto’s future proliferation is contingent on platforms like Blox making the process simple and easy for anyone to use. For individual investors and companies, the ability to easily track, manage, and report cryptocurrencies is the feature that makes them most functional.

Cryptocurrencies are an intricate and complex web of products and services, but managing those digital assets just got a whole lot easier.

Disclaimer: This is a contributed article and should not be taken as investment advice

About the Author: Finance Magnates Staff
Finance Magnates Staff
  • 4271 Articles
  • 135 Followers

Thought Leadership