Despite the legal minefield enveloping the crypto space, users have more options than ever before in crypto exchanges, apps, and services. With the tap of a button, someone’s grandfather can invest in the next big coin, whether they’re in New York or Nairobi. But there’s never been a user-friendly way to manage a crypto portfolio while maintaining the highest efficiency.
That is, until now.
Trusty.Fund is a new, open-source wallet that offers a more user-friendly approach to crypto investment. As the first community endorsed mobile wallet on the BitShares blockchain, the app features some of the most advanced tools for managing an investment portfolio.
Trusting the Trusty Process
So how does Trusty.Fund work?
Like most crypto investment platforms, users first sign up for a decentralized account (registration should take no longer than three minutes). Each user is responsible for protecting their private key, which Trusty sometimes refers to as a Brain Key.
Trusty is only available on mobile devices, at least for now. The team believes that this strategy will allow them to “completely focus on the user interface and user experience in perfecting a mobile app”. Based on the current design of the app, the strategy seems to be working so far. Trusty is available as an Android App on Google Play, and as a web app on iOS.
From the home screen, users are then asked to deposit an initial amount for investment. Users can select from USD, RUB, EUR, and CNY at the best exchange rate, or pay 0% commission to deposit directly.
Once setup is complete, Trusty presents your overall deposited fund above recent transactions and a list of available assets for investment. You can sort each asset by the percentage share (how much of your fund you want to invest), the dollar value of your investment, and the percentage change in the past 24 hours.
Here’s a little preview of the Trusty mobile app:
Magic Management
Users can then select the “Manage Fund” option to set and control their investment strategy:
- Manual Portfolio Restructuring — allows users to individually change percentages or values of each asset, and Trusty executes the orders.
- Mirror Trading Strategy — allows users to “follow” a recognized fund manager and copy their trading decisions
- Index Portfolio Management — designed for conservative investors who want to follow the top 5, 10 or 20 crypto assets.
For instance, a user may want to invest more heavily in BitShares compared to BTC. Or they want to leave the portfolio for a year and come back to see its returns. Instead of forcing customers to choose each asset separately and make each individual purchase, Trusty allows users total control over how their fund is allocated. In just a few taps, users can set up whole portfolios and leave them on autopilot.
Pretend for a moment that you foresee an upcoming rally in the crypto space. Or perhaps you have a bearish sentiment and expect the market to drop. Regardless, Trusty gives you the ability to “fix your income” in dollars, so you can continue to accrue returns despite price volatility in the market. To our knowledge, no other app or service has been able to offer anything similar.
Since the app runs on the BitShares blockchain, each transaction is completed within seconds available for public review. “We believe that Trusty users are the most secured when their funds are held on an established blockchain,” the team writes on the Trusty.Fund FAQ.
The Road To Adoption
Trusty is a new player in the BitShares community. Although its code has been reviewed and tested, the development team continue to listen to the feedback from its users, making a few tweaks along the way.
Trusty’s main challenge is to develop revenue, as it doesn’t rely on any hidden fees. Instead, they ask that 1.4% of each diverse portfolio is placed in their token, TRUSTY. The 1.4% is not locked, meaning users are free to sell that share, but users must have that 1.4% constantly throughout their investment. Currently, no ICO is planned for TRUSTY, as the developers are concentrated on building the Trusty.Fund ecosystem.
The ultimate goal for Trusty? To offer both veteran and novice users a “means of creating, building and investing in a balanced portfolio of cryptocurrency.” Beyond that, Trusty is a response to the unprecedented financial and political inefficiency. Centuries of transparency issues and corruption have pushed economies to the tipping point.
Through blockchain, Bitshares, and Trusty, we might have a solution to getting out of this mess.
The author is not an attorney or financial advisor. None of the content presented should be construed as investment advice or as legal advice.