Cryptocurrency

Nigerian startup, ComiBlock, launches Crypto-Asset Robo Advisor

ComiBlock, a Nigerian startup launched in February that helps users become great investors through technology, has launched a goal-based investing crypto robo-advisor.

The digital asset investment adviser and active manager give users the advice, strategies, and inspiration they need to be better at crypto investment, helps them achieve their financial objectives and averts time and capital wastage caused by market volatility.

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ComiBlock relies on data and research to create investment products that facilitate access to digital assets thereby providing users topical and carefully selected crypto portfolios, advice, and planning tools.

“We measure progress by helping our users achieve specific life goals, rather than generating the highest possible portfolio return or beating the market,” ComiBlock founder, Dennis Ejimnkeonye, said.

“We also do things like automatic rebalancing and crypto tax-loss harvesting, services that were only available to the ultra-rich until now, we believe that as cryptocurrency matures as an asset class, a purpose-built financial ecosystem is needed, mirroring the traditional equity and fiat investment markets. The gap we saw was a fundamental and neglected opportunity.”

Ejimnkeonye further hinted that the self-funded startup is working on a pre-seed funding round to bring more talents to its platform.


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“We have built a solid five-month track record, generating more than 210 percent net return since inception, without experiencing a single down month even during the market crashes,” he said.

“Uptake has been very stable and rapidly growing – though we are still in private beta, the referrals are coming in fast. We have controlled our growth to enable us to achieve a solid product-market fit first before we’re still opening up, but anyone can join with an invitation from an existing user.”

Citing the platform’s plans to expand beyond the African market that it is currently situated into a global front, Ejimnkeonye said,

“We’re currently exploring a strategy around compliance and regulation. Though the Security Exchange Commission in Nigeria has given some clarity around robo-advisory and crypto, we are looking more outward with compliance, which gives us an edge in the global outlook.

“So far, none of the major robo-advisors globally include crypto in model or automated portfolios, only a couple allows customers to trade crypto on the side.”

ComiBlock increases its users’ money by investing it in a mixed portfolio of crypto assets with the aim of helping it grow and compound value over time.

It involves its users in the process thereby giving them emotional responsibility towards their assets. These assets are secured and users’ data are encrypted with continuous backup.

Read the original article here

Nichole Manhire

Is the media and brand manager at GFA News. She works very closely with editors and podcasters that contribute to telling the African business success story. For marketing and advertising send Nichole an email: nichole@getfundedafrica.com

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