Bitcoin Forum

A New Service Called CoinCube Can Help Manage Your BTC

In the future, all currencies will be crypto. And you’ll need someone to manage all that crypto cash. That’s what CoinCube is trying to do: a way to manage cryptocurrency investments intelligently.

Created by Robert Allen, Eric Kittell, Jibben Nee and Giovanni Meacci, the system is still in its relative infancy. They have about a 100 users with $430,000 in assets under management, a fairly solid growth. The goal is to offer an automatic transfer system that will take advantage in currency fluctuations to help grow an initial investment.

“Coincube is a Bitcoin-focused robe-advising service,” said Fuller. This means the watches the markets and sees when and where the Bitcoin market is not in sync. The system then makes recommendations about where to move cash and when.

“During my time working in finance, I saw firsthand the inefficiencies, double-standards, and corruption in the industry. This broken system is perpetuating the growing economic divide,” he said. “In 2013, I started to follow Bitcoin more closely and began to look for opportunities in the space. I saw a need for wealth management services for the Bitcoin community and that was the beginning of this journey.”

Fuller invested in precious metals and saw cryptocurrency as the next step in that vision. They have raised $20,000 in a friends and family round and hope to grow the company by making nice returns for folks who love themselves some bitcoin.

http://techcrunch.com/2015/12/04/a-new-service-called-coincube-can-help-manage-your-btc/

“During my time working in finance, I saw firsthand the inefficiencies, double-standards, and corruption in the industry. This broken system is perpetuating the growing economic divide,” he said. “In 2013, I started to follow Bitcoin more closely and began to look for opportunities in the space. I saw a need for wealth management services for the Bitcoin community and that was the beginning of this journey.”

this is awesome service  :o

I am confused about introducing a middleman in a system that does not rely on a third party to form transactions. What are these 'wealth management services' ?

is this similar to betterment? anyone tried it yet? :)

Basically it works like this: if you are wealthy individual already, you give access to part of your money to third party - in this case - this Wealth Management Service.
They are trying to keep your money growing by short time investing it, buying shares etc. It is passive way of income for you if they are doing their job right.

Yes and also a good way of losing if this third party service messes it up.And of course they will require a nice fee for that.
I don't see any reason why I should ever do this. When I own cryptos, I guess I know how this stuff works.When I'm wealthy I guess I know how to manage my income and how to store or increase it myself.
Stupid business imo!

From what I read on their website, they charge "high water mark" fees... meaning that if your wealth grows by using their system, then they will charge you 25% of what you gained at the end of the quarter.  Quoted from the FAQ about the high water mark system:

So this gives members who sign up and start investing into coincube a sense that everything will be OK if the system starts to lose some of your assets through bad trade.  It won't count fees until it passes that high water mark, ensuring the customer that they will only ask you to pay the fee if they have been doing their job correctly... doesn't necessarily mean that they can't just lose your entire investment, and in the scenario above, 10 BTC is a pretty hard loss to recover if they just completely flop as a company.

I guess if they earn only when you profit, they'll work hard to ensure their system works.

Or to make sure it looks like you're profiting. How many times have people "invested" their BTC, looking for gains, only to find their trusted third party running away with the money?

I went to check out the site, they require api plugin (for bitfinex) and from there you can limit access such as withdrawals or margin trades etc. I don't think they are able to run away with your money easily, the way we can lose is if their trading algorithm sucks so badly

I would like to manage the bitcoin myself. If I want to let other manage, that will be a small proportion.

The same thing may happen with this service. I don't see any benefits of giving my BTC to an institution except profits. People mentioned the company takes your profit, so there are no benefits at all.

Interesting I'll try it.

You don't give your Bitcoin to the service. They work through APIs. so the money stay in whatever exchange you have lets say bitfinex. all they do is help u buy or sell at certain times

After two weeks here, has anyone any positive evaluation to share on this outfit? Plenty of volatility lately.

they claim that trades occur every 43 days. probably won't see much short term gains