The cryptocurrency investment market remains complex, with a wide range of assets available and high volatility posing challenges for investors. The market operates continuously, requiring significant time and effort to monitor, which can be a barrier for many individuals. Furthermore, a history of scams and the potential for substantial overnight losses have contributed to skepticism among everyday investors.
A new app developed by Ovoro, a Finnish company, seeks to address these challenges by providing an automated and simplified platform for cryptocurrency investment. Ovoro is registered as a Virtual Asset Service Provider (VASP) under the Finnish Financial Supervisory Authority (FIN-FSA). The app is described as Finland’s first fully automated cryptocurrency investment platform. It offers a straightforward approach to investing, targeting both crypto enthusiasts and beginner investors.
The app emphasizes ease of use, offering limited user customization and focusing on automated trading. Users can buy or sell cryptocurrencies directly within the app, which then executes trades automatically around the clock. No external crypto wallet or exchange account is required, and users can view real-time investment values, transfer funds from bank accounts, and withdraw their investments at any time.
The platform’s automated trading utilizes artificial intelligence (AI) to analyze historical cryptocurrency data and market patterns. The AI adapts trading strategies based on potential risks and opportunities, aiming to protect and grow user portfolios. Ovoro states that its AI is trained with over a decade of cryptocurrency market data and operates continuously, responding to market fluctuations. The company claims the system has mitigated losses during significant market downturns, such as reducing user losses to an average of 5% during sharp declines in Bitcoin’s value.
The app includes a cryptocurrency investing simulator, which allows users to test the platform in a risk-free environment. The simulator mimics real-world market trends, enabling users to explore the platform's features using virtual funds before committing financially.
Ovoro currently offers 25 cryptocurrencies grouped into curated Asset Collections. These collections cater to various investment preferences, such as the Big Five Asset Collection, featuring prominent cryptocurrencies like Bitcoin and Ethereum, and the Green Asset Collection, which focuses on environmentally conscious assets. The platform charges a flat fee of 0.15% per trade with no account setup or annual fees.
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