Which Cryptocurrency should you buy…too much choice not enough time to study the market…AlchemyByte is the solution for you.
Bitcoin was predicted to be a fad. Jamie Dimon referred to Bitcoin as a fraud whereas others went as far as to call it a Ponzi scheme. Yet Bitcoin is going from strength to strength with Price Waterhouse Coopers (PWC) naming blockchain as a ‘tech breakthrough megatrend for CIOs’ whilst Gartner has named it as one of top 10 strategic technologies for 2017.
Blockchain is 5 to 10 years’ way from mainstream adoption, yet it is breaking out of an emerging state and stands to have substantial disruptive potential across industries.
This is further substantiated through its rapid growth and mass adoption by leading technology giants such as Tesla and Microsoft with Amazon rumored to be preparing to accept Bitcoins on its platform. Furthermore, Dubai announced its goal to become the first blockchain Government. All of this in the wake of many countries banning ICO’s and the use of digital currency.
There are over 1,100 cryptocurrencies in circulation now with a market cap in excess of $150 billion. Everyone one wants to be a part of this ‘next generation gold’
Does this sound familiar?
You are excited about cryptocurrency? Bitcoin’s value is rising and rising, yet you do not know which cryptocurrency is the next sleeping giant or which altcoins are the ones you should invest in. Are you spending hours on end reading about coins, potentially investing blindly and crossing your fingers that you picked the next ‘bitcoin’ to put your spare cash or hard earned savings into?
On top of this, how tedious will it be to maintain and keep all your passwords for many different wallets and create backups of these for all of the coins you might want to invest in?
AlchemyByte solves all of the above problems and gives you the assurance that you are making the right decisions regarding investment as this will be taken care off by professionals who have been involved in investment markets, trading, hedge funds, banking and crypto.
AlchemyByte is essentially an alloy or mixture of other coins, tokens and crypto related assets (hence the name “Alchemy”) in exactly the same sense that historical coins were alloys of predominantly gold, silver, tin, nickel and copper. The value of such coins being determined by reference to the constituent metals in the alloy and their relative proportions.
By combining many of the extant cryptocurrencies into a single cryptocurrency, holders and users gain exposure to the price increases of the cryptocurrencies being held and in a far more diversified way than by holding just several of the many available cryptocurrencies directly in their own wallets. A coin or token specific price collapse (or worse) will only impact AlchemyByte to the extent that it’s Master Trust has exposure to the particular asset declining in price. Where value is shifting from one of the majors, for example BTC, to another, say XRP, because of some news flow or sentiment change that would largely result in zero sum game to the AlchemyByte Master Trust as it will be holding both.
AlchemyByte seeks then to act in the cryptocurrency space in essentially the same way that a Managed Mutual Fund acts in the stocks space, combining many cryptocurrencies under one token and reducing both absolute risk and volatility risk to the holder and economic user. We should emphasize the word “Managed” in the previous sentence as the Master Trust will be managed by an Investment Advisory Committee (“IAC”) — what we are offering is not just a static or algorithmically controlled basket of other cryptocurrencies and assets, the IAC will be making active decisions in regard to buying and selling and the Token Issuer has retained ex hedge fund people to this end.