B21 Launches Cryptocurrency Investment and Portfolio Management App in India as Legalization of Crypto Trading Paves Way for Investment in Digital Assets
- 01.07.2020 04:52 pm
Digital asset investing company B21 (www.b21.io) today announced the launch of its B21 Invest app in India. B21 Invest makes it easy to purchase and manage a portfolio of cryptocurrencies including Bitcoin, Ethereum, and EOS straight from a mobile phone. B21 Invest supports investment for as little as INR 2,000 ($25) per transaction, which can be in a single asset like Bitcoin or across a customized investment portfolio. Users in India can invest using local fiat currency and local payment methods including Unified Payments Interface (UPI), debit cards and bank transfers.
B21 Invest, available free of charge on the App Store and Google Play, simplifies the entire onboarding and investment process by allowing users to create their own secure, customized portfolio of cryptocurrencies without going through multiple “Know Your Customer” (KYC) and wallet set-up hurdles. Users can instantly rebalance their portfolio, monitor profitability on their dashboard, or liquidate their positions at any time with a few clicks. Users can also withdraw money globally via bank transfer (ACH) and international wire.
The Supreme Court of India recently reversed a circular issued by the Reserve Bank of India (RBI) which prohibited banks from providing services to crypto traders, exchanges, and other businesses dealing in cryptocurrencies. The reversal has led to renewed interest in digital asset investing and a spike in exchange trading volumes.
“India is fast becoming a major market for digital asset investing as the use of mobile technology expands alongside interest in alternative asset classes,” said Nitin Agarwal, Founder and Director B21. “B21 is proud to provide a method by which people can easily invest in digital assets directly from their mobile phones without having to learn how to navigate complex trading exchanges or managing their private keys. We are excited to launch our local Indian payment methods which will make investing even easier and more efficient.”
B21 has also announced a collaboration with Minance, a wealth management firm offering an extensive range of investment products from derivatives and equities to private assets and international equities. B21 will offer Minance clients a gateway for purchasing cryptocurrency, with Minance providing investors with research-based insights on the market, along with a cryptocurrency tax calculator and additional features to be introduced in the coming year.
"Minance research has proven that it's wise to build a portfolio starting with the largest cryptocurrencies by market cap,” said Anurag Bhatia, CEO and Head of Investments at Minance. “The team at B21 has cracked this. Instead of building a platform with an overwhelming array of cryptocurrencies to evaluate, they've curated the top digital assets, providing investors a simplified gateway to this investment class.”
“Banning cryptocurrency only serves to curb innovation,” added Agarwal. “Crypto and decentralized systems are at the forefront of the next big technological advancement in human history and the cornerstone to Web 3.0. Cryptocurrency and blockchain systems have yet to reach their full potential and we are keen to help the mass market access to these attractive investment sectors.”
B21 is available to customers across 65 countries including the U.S. The firm has maintained an office in Bangalore since 2019 and plans to grow its client base in India to two hundred thousand active users by the end of 2020.