Crypto investing platform Mudrex introduces industry’s first tool to automate recurring investments
Global crypto asset management platform Mudrex today introduced the crypto industry’s first Recurring Investments tool to automate and simplify investments in Mudrex Coin Sets. With this announcement, recurring investment capabilities, which have long been popular in the traditional markets, are now available for crypto.
Introduced in October 2021, Mudrex Coin Sets are baskets of cryptocurrencies based on particular themes, enabling users to diversify their portfolios. Using Mudrex Recurring Investments, investors can now spread out their capital investment – a form of dollar cost averaging that can reduce the total risk on their crypto investment. Mudrex users have the flexibility to choose between a daily, weekly or monthly investment schedule, and scheduling rules can easily be changed, paused and stopped, at any time.
Mudrex CEO and co-founder Edul Patel said, “Recurring Investments are a powerful trading tool that for the first time gives self-directed crypto investors an efficient way to grow their wealth passively and effectively. With this new feature, we hope users will be able to maximize long-term wealth creation in this exciting new asset class.”
Recurring Investments incur no extra fees, so users can continue investing in Coin Sets (with or without Recurring Investments) with zero fees and fixed amounts as low as $10. With more than 250,000 global users across 100+ countries and a growth rate of 30% month over month since its launch in 2018, Mudrex handles trade allocation, order execution, and periodic rebalancing for a seamless user experience.
In January 2022, the Y-Combinator backed Mudrex announced a $6.5 million funding round led by Arkam Ventures, Tribe Capital, and Bolt by QED Investors. The company previously raised a cumulative $3.25 million from Y Combinator, Better Capital, Woodstock Fund, and angels like Nitin Sharma and Anupam Mittal. In some financial markets such as India’s, Recurring Investments are referred to as systematic investment plans (SIPs).
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