BitSave Raises Pre-Series A Funding to Enhance Crypto Investment Platform
In the fast-evolving world of cryptocurrency, BitSave, a Bengaluru-based crypto investment platform, has secured an undisclosed amount in a pre-Series A funding round. The investment was led by Leo Capital, a venture capital firm based in Singapore. The funds raised will allow BitSave to broaden its range of offerings, acquire necessary licenses, and bolster brand awareness as the platform continues to grow.
Founded in 2022, BitSave has quickly positioned itself as a reliable and user-friendly platform for investors who want exposure to the volatile crypto market but may not have the time or expertise to manage it actively. With a clear vision of simplifying crypto investment for the average working professional, BitSave aims to meet the needs of high-net-worth individuals (HNIs) and newcomers alike, providing a more accessible entry point into the digital assets space.
In this article, we’ll take a closer look at what BitSave offers, why its approach is gaining traction, and how the recent funding will help it scale its operations both in India and internationally.
What Is BitSave and How Does It Work?
BitSave was founded by Zakhil Suresh, Sajal Sharma, Asif Kattakath, and Vishnu Karthikeyan in 2022 with the goal of simplifying crypto investments for the masses. The platform is designed specifically for working professionals and high-net-worth individuals (HNIs) who seek passive, long-term investment opportunities in the highly volatile world of cryptocurrencies.
While the world of crypto has attracted billions of dollars in investment, many individuals remain hesitant due to the complexity of the market. BitSave aims to alleviate these concerns by offering users an easy-to-use platform that takes the guesswork out of investing in digital currencies.
As of now, BitSave has 520 active users and manages assets worth approximately $450,000. This demonstrates strong initial traction, but the platform has much larger ambitions. BitSave’s next step is to expand into other Asian markets by 2025, where it sees untapped potential in regions with growing interest in cryptocurrencies and digital investments.
Solving the Complexity of Crypto Investments
One of the major hurdles for novice investors entering the cryptocurrency market is understanding how to navigate the complexities of over 100 different tokens and the constant volatility that plagues digital assets. Unlike traditional investment markets, the crypto market is often marked by sudden price swings, regulatory uncertainty, and a lack of clear guidelines for new investors.
This is where BitSave steps in. The platform’s flagship product, the Crypto Index, tracks the Bloomberg Galaxy Crypto Index (BGCI), a well-established benchmark that monitors the performance of top cryptocurrencies. By aligning itself with a trusted index, BitSave offers investors a way to track a diversified basket of leading digital assets without getting caught up in the day-to-day fluctuations of individual coins.
But that’s not all. BitSave takes a more structured approach to investment, using a Systematic Investment Plan (SIP) model. This allows investors to make regular contributions into their crypto investments, similar to how individuals invest in traditional stocks and mutual funds. By doing so, BitSave reduces the impact of market volatility and helps investors build wealth over time through consistent, long-term investments.
Keeping Investments Safe and Transparent
Security is one of the top concerns for anyone investing in digital assets. The decentralized nature of crypto means that assets are often stored in digital wallets, which can be vulnerable to hacking and theft. This is a major barrier for many who are still hesitant to enter the space.
To address this concern, BitSave prioritizes the safety of client funds by storing assets in insured institutional custody. This means that users’ crypto holdings are secured by well-established financial institutions that offer high levels of protection, offering peace of mind for investors.
Furthermore, BitSave takes transparency seriously. The platform provides blockchain-based Proof of Reserves, allowing users to independently verify the existence and security of their assets on the blockchain. This feature is especially important in a market like crypto, where trust and transparency can often be lacking.
Tailored Investment Products to Meet Diverse Needs
BitSave offers a variety of investment products designed to cater to different investor preferences. Whether you’re a conservative investor looking for stability or a more adventurous one seeking higher returns, BitSave has something for you. The platform’s products are designed to balance risk and reward while making it easy to invest in digital currencies.
Here’s a closer look at BitSave’s offerings:
1. BGCI Crypto Index
BitSave’s flagship product, the BGCI Crypto Index, tracks major cryptocurrencies as defined by the Bloomberg Galaxy Crypto Index. The BGCI is known for being research-backed and curated based on factors beyond simple market capitalization, which means that it focuses on high-quality tokens with strong potential rather than just chasing the largest market cap coins. This product is ideal for investors looking for a diversified, long-term investment in the crypto space.
2. Hybrid Portfolio
For investors seeking lower volatility while still wanting exposure to the crypto market, BitSave offers a Hybrid Portfolio. This investment product combines Bitcoin, Ethereum, and gold—a combination that offers some stability (from gold) while maintaining growth potential through leading cryptocurrencies. This hybrid approach allows investors to take part in the upside potential of crypto while minimizing the risk of drastic fluctuations.
3. Bitcoin-Only Investment
For those who are looking for a more focused approach, BitSave also offers a Bitcoin-only investment product. This product targets investors who are bullish on Bitcoin and want to gain direct exposure to its performance. Bitcoin has reached all-time highs recently, making it an attractive option for those who believe in its long-term value. The Bitcoin-only option is designed for those who want to capitalize on Bitcoin’s market dominance without diversifying into other cryptocurrencies.
Simple and Transparent Fees
One of the standout features of BitSave’s platform is its straightforward fee structure. Unlike many other crypto platforms, which often have complicated and hidden charges, BitSave makes its fees clear and easy to understand:
- 1.5% management fee for both the BGCI Crypto Index and Hybrid Portfolio products.
- 0.95% management fee for the Bitcoin-only product.
This transparency ensures that investors know exactly what to expect when it comes to fees, making the investment process simpler and more predictable.
Expansion Plans: Going Global
BitSave’s recent pre-Series A funding round marks an important milestone as the company gears up for expansion. The platform is aiming to expand its presence into other Asian markets by 2025, which presents a significant opportunity, especially in countries like Singapore, Indonesia, and Malaysia, where interest in cryptocurrency is rapidly increasing.
In addition to expanding geographically, BitSave also plans to enhance its platform by adding new features and investment products. The goal is to make the platform more appealing to a broader range of investors and help more people take advantage of the opportunities in the crypto market.
What’s Next for BitSave?
With the funding secured and a clear roadmap for growth, BitSave is positioning itself to become a major player in the cryptocurrency investment space. The company’s vision to make crypto investing accessible, secure, and simple aligns perfectly with the growing demand for digital asset investment platforms that prioritize user experience.
In the coming years, BitSave aims to introduce more innovative solutions to meet the diverse needs of investors and help them navigate the complex world of cryptocurrencies. As more individuals and institutions look to get involved in digital currencies, BitSave is set to provide them with a safe, efficient, and profitable way to do so.
