The cryptocurrency market is going through a rough patch, but as devoted hodlers often say – there is no better time to enter the market than buying the dip. But if you happen to be too lazy to do your own research, there might be an easier way to make your first investment.
CBlocks is a new service that aims to lower the cryptocurrency entry barrier by choosing what coins to buy for you. The company essentially picks five random currencies from the top 300 on CoinMarketCap, buys them from one of the many exchange desks it works with, and then ships them to your address on a USB wallet.
It is sort of like a mystery box, but for crypto.
What is particularly nifty is that CBlocks also includes a sheet of paper with information about the five coins you’ve received, so you can get familiar with the technology behind them.
For now, CBlocks offers four different packages starting from $75 and going all the way up to $475. Though we should point out that the $25 will be withheld to cover expenses like shipping and loading your coins to your USB wallet.
The only shortcoming is that the company currently ships exclusively within the US, so you might have to wait some time to get one for yourself or your non-US acquaintances.
The project was inspired by CryptoRoulette, which generates six random cryptocurrencies and shows you what profits you would’ve made had you invested on a certain date in the past.
While CBlock’s service might sound like a ridiculous approach to getting started with crypto trading, researchers have discovered that blind investments in cryptocurrency often tend to rake in huge profits. In fact, a study by Mangrove VC found that investing in every initial coin offering (ICO) would’ve returned a profit of over 1,320 percent.
So while it wouldn’t hurt to maintain a healthy degree of skepticism about CBlocks, they might be onto something. If nothing else, it seems like an awfully easy way to get your friends hooked on crypto.
You can order your own crypto mystery box from this link.
Disclaimer: Please note that this piece is by no means an endorsement. You should familiarize yourself with the risks involved in cryptocurrency investing before you make any decisions.
Published January 16, 2018 — 13:23 UTC