Ziglu reports crypto price recovery is good for long term investment
By Joy Dumasia
UK based money app Ziglu advises cryptocurrency investors to plan for the long-term as valuations recover across the market following the recent sell-off.
Bitcoin prices have climbed more than 40% in the past month, with other cryptocurrencies including Ether, Litecoin and Dogecoin also recording strong gains while remaining on the whole well below previous record highs.
Ziglu, which offers current account services and enables customers to buy and sell a range of cryptocurrencies, believes the recovery is a good time for investors to reassess their holdings and plan for the long-term by focusing on the regular monthly investment market.
During the recent crypto price slump, around two-thirds (65%) of Ziglu customers bought cryptocurrency, taking advantage of the price fall while 35% were selling. Earlier research from Ziglu shows around two-fifths (39%) of crypto investors took profits on their holdings in the run-up to the sell-off, which started in April this year.
Mark Hipperson, Founder and CEO of Ziglu, said: “We believe that cryptocurrencies should be a long-term investment and encourage our customers to invest little and often, as that is a proven method for smoothing out volatility in the market and to maximise returns. The recent recovery following the drop in prices earlier in the year highlights how there is always going to be volatility in the crypto market, with some peaks and troughs. Regular investing will enable investors to average out the impact over time.”
IBS Intelligence reported that UK-based money app Ziglu has rolled out a new investment product – Sterling Boost, offering an interest rate of 5% APY. The product accepts balances between £1 and £10,000 and offers instant, penalty-free access to funds. The company said that Sterling Boost provides a better return than cash savings accounts and a much lower risk profile than investing directly in cryptocurrencies.
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