Hedgehog, an innovative robo-adviser, has officially launched as an app for both iOS and Android systems, according to a recent announcement by the company. This cutting-edge platform targets cryptocurrency investors by offering automated financial guidance to assist users in managing their crypto portfolios. With a range of six stacks, or diversified portfolios of related cryptocurrencies, investors can opt for a strategy similar to investing in an index fund or exchange-traded funds.
Yet, there’s a twist: unlike index fund investors who own shares in the fund, Hedgehog app users directly own the assets in their chosen stacks. As a result, investors have an additional layer of control and responsibility over their investments. The app is integrated with Gemini, a prominent cryptocurrency exchange, where user funds will be stored as the official custodian. Hedgehog hints at the possibility of self-custody support becoming available in the future.
This innovative investment solution comes with its curated stacks, namely Total Crypto, Satoshi, DeFi, ETH Network, Layer One, and Yield Farming. Each stack is tailored to cater to the varied preferences, risk appetites, and investment strategies of cryptocurrency enthusiasts.
In 2021, Hedgehog Technologies, the company behind Hedgehog Advisers, successfully raised $1.6 million to build this one-of-a-kind platform. The impressive list of investors includes the likes of Y Combinator and Dragonfly Capital, reflecting the growing interest and belief in the potential of automated financial guidance for cryptocurrency investors.
Hedgehog’s platform has also successfully registered with the U.S. Securities and Exchange Commission (SEC), ensuring compliance with regulatory requirements. As a result, users need to undergo a mandatory identification and know-your-customer (KYC) process to access the platform’s services.
However, considering the fast-paced evolution of the cryptocurrency market, it’s essential to approach this automated financial guidance tool with a critical eye. Hedgehog’s app claims to offer sophisticated rebalancing and investment management services, which could provide immense value to users in such a volatile market. But with a relatively new domain, investing in cryptocurrencies remains a risky endeavor, and the question remains if the Hedgehog app can truly deliver on its promises and effectively cater to the complex demands of crypto investors.
All things considered, Hedgehog’s app launch marks a significant development in the cryptocurrency investment landscape. By blending traditional index fund investing strategies with the flexibility of direct asset ownership, the app aims to empower investors to make informed decisions and navigate the unpredictable world of cryptocurrencies. As time goes on and with further developments, the app’s efficacy will undoubtedly be put to the test, shaping the future of cryptocurrency investing.
Source: Coindesk
