BitSave: 10 Key Things You Must Know

Overview

BitSave is a pioneering crypto investment platform established in 2022 by Zakhil Suresh, Sajal Sharma, Asif Kattakath, and Vishnu Karthik. The platform is noted for offering a cryptocurrency mutual fund that simplifies investments in digital assets, making it accessible and user-friendly for both novice and experienced investors. Leveraging Bloomberg's Galaxy Crypto Index, BitSave has carved a niche in the bustling crypto market by focusing on passive investment products, ensuring safety through insured institutional custody, and enhancing transparency with blockchain-based Proof of Reserves and Liabilities. As of late 2024, BitSave continues to gain traction, particularly in India, and aims to expand its operations across Asia by 2025.

1. The BitSave Fund Structure

BitSave offers several investment products, including a crypto index product that tracks the Bloomberg Galaxy Crypto Index (BGCI). The BGCI is a benchmark that measures the performance of the largest crypto assets by market capitalization. BitSave's product line also includes a hybrid fund combining crypto and gold, as well as a Bitcoin-only fund, catering to varying risk appetites of investors.

2. Safe Custody Practices

Safety is a cornerstone of BitSave’s operations. The platform assures investors of secure and insured custody of their crypto assets. BitSave employs institutional custody akin to traditional mutual funds and provides transparency through Proof of Reserves and Liabilities, which can be verified on the blockchain. This initiative helps assure investors of complete asset protection against potential threats.

3. Focus on Indian Market

Although headquartered in Singapore, BitSave has a substantial operational base in India, with over 90% of its clientele hailing from the country. The company has tailored its offerings to meet the specific investment needs of Indian investors, leveraging easy UPI payment options and compliance with local KYC norms. This local focus has fueled its growth in one of the world's fastest-growing crypto markets.

4. BitSave Login and User Experience

Designed for ease and accessibility, the BitSave app simplifies the investment process. Users can log in using their mobile numbers and deposit funds via UPI, providing a seamless transaction experience. The app’s user-friendly interface makes it easy for stakeholders to track investment performance and engage with customer support.

5. Is BitSave Safe?

Security infrastructure plays a vital role in BitSave’s value proposition. The platform ensures that all crypto assets are stored in insured cold storage with a regulated custody framework, underscored by a robust multi-approval scheme. Additionally, BitSave's assets are insured at Lloyd's of London, enhancing its trust quotient among users.

6. Expansion and Funding

BitSave has recently secured a pre-series A funding round led by Leo Capital, aimed at expanding its product offerings, securing necessary licenses, and enhancing brand awareness. This funding is a strategic step in BitSave’s ambition to grow beyond India into other Asian markets by 2025.

7. Crypto Mutual Fund Concept

The concept of a crypto mutual fund is relatively novel in India, largely due to regulatory challenges. BitSave addresses the volatility and complexity of the crypto market by offering diversified portfolios, enabling investors to hold assets without direct management headaches or the need for constant market observation.

8. BitSave Reviews and Reception

User reviews on platforms like Trustpilot reflect high satisfaction levels with BitSave’s services, praising its intuitive interface, seamless transaction process via UPI, and the supportive, human-centric customer service team. This positive feedback underscores BitSave's success in creating a user-friendly investment platform.

9. BitSave Protocol and Technology

The BitSave protocol is engineered to facilitate secure and efficient crypto investing. It employs advanced technologies to manage assets securely and offers clients the capability to verify their asset balances directly on the blockchain, ensuring transparency.

10. BitSave's Vision for the Future

Looking forward, BitSave is keenly focused on democratizing crypto investments, making them accessible to a wider audience. The platform is committed to continuous innovation, aligning its product offerings with evolving market landscapes while emphasizing investor safety, transparency, and ease of access.

Conclusion

BitSave is setting new standards in the crypto investment landscape by combining a user-friendly approach with rigorous safety measures and transparency. By enabling investors to partake in the crypto economy without the overwhelming complexities typically associated, BitSave offers a pathway to secure and effective portfolio diversification. As it prepares for its next phase of growth into the broader Asian market, BitSave remains committed to transforming crypto into a mainstream asset class, posing exciting opportunities for new and seasoned investors alike.