1. WHAT IS CRYPTO BLOX?
CRYPTO BLOX is the easiest way for you to instantly buy a ready-made portfolio of the world’s leading cryptocurrencies. Each ‘BLOX’ represents a basket of cryptocurrencies with appropriate weightings and targets a specific crypto-related opportunity.
2. WHY DO I NEED CRYPTO BLOX?
Buying and selling cryptocurrencies by yourself isn’t easy. It’s a full-time job in many ways.
You’ve got to keep on top of competing technologies, your responsible for secure storage of your cryptocurrencies, there are extensive records required for tax purposes and you’ve got to deal with technical tasks specific to this new world of cryptocurrencies, such as hard forks, token drops and staking.
Unless you’ve got the time to keep on top of all this, then investing in cryptocurrencies can be fraught with danger and risk. In what is already a risky asset class.
We also deal with professional OTC (over the counter) exchanges to seek out the best cryptocurrency prices. These OTC exchanges are generally not available to ordinary members of the public.
CRYPTO BLOX is our attempt to simplify all of this and to make it easy for anyone to stake a claim in what we think is a once in a lifetime opportunity.
3. ARE YOU A TRADING PLATFORM?
No. We are designed as a longer-term investment platform. While users can withdraw funds at any time, we are set up to advise on what basket of cryptocurrencies we think will perform best over a 5 year+ time frame.
If you are a short-term trader then this product is definitely not for you.
4. CAN I INVEST THROUGH CRYPTO BLOX AT ANY TIME?
No. We only open up new BLOX opportunities when we think there is a good opportunity to invest. If you sign up today you will be alerted when a new investment window opens.
Each BLOX is structured around the immediate opportunity at hand. It is then monitored and undergoes a review every quarter.
In response to market and price movements we sometimes suggest you upgrade your cryptocurrency basket to a new asset allocation - though that’s entirely up to you.
You, the user, always decide whether to upgrade or keep your existing cryptocurrencies as is.
5. HOW DO YOU DECIDE WHICH CRYPTOCURRENCIES ARE IN EACH BLOX?
We are fully qualified investment advisors and use a variety of analytical techniques to create each BLOX. It’s a combination of fundamental, technical and post-modern portfolio theory.
But for you, it’s just the cryptos with the most potential allocated in a way to give you the best chance of building wealth through crypto-investments.
6. WHO OWNS THE CRYPTOCURRENCIES IN EACH BLOX?
You own the cryptocurrencies and can see the totals on the user portfolio page. We store your cryptocurrencies (custody) offline in secure cold storage for you. We work with well-known and reputable partners who specialise in cryptocurrency storage.
7. WHAT ARE THE FEES?
Cryptocurrencies are a fast-evolving industry and our fees are always under review. We believe that fees should be simple, competitive and value for money. Currently we charge an entry fee and an ongoing fee of 3%. These fees are always under review. We also charge a 3% exit fee (waived after 3 years).
This covers the initial advice, secure storage, ongoing quarterly reviews, any technical actions (such as dealing with hard forks or token swaps) specific to cryptocurrencies, all internal transfer fees (mining fees) and any exchange brokerage or transfer costs.
These fees also cover our extensive record keeping and we provide you with an annual statement which you can provide to your tax agent to help complete your tax return. Or if you exit your investments early for any reason, we will provide you with a closing statement too.
Like we said at the start, CRYPTO BLOX is all about simplifying the whole experience of investing in cryptocurrency with all the headaches and hassles handled by us.
8. CAN I ADD MORE FUNDS?
Whenever a new sale window is opened you can add more funds but you cannot add funds to an existing BLOX at this time. As our platform develops this will change.
9. CAN I WITHDRAW MY FUNDS AT ANY TIME?
Certainly. However, it can take up to ten days to receive funds. This gives us time to sell down your holdings and send your funds to you. We have to make sure we are adhering to any relevant AML and CTF laws too so we may ask you for additional details from time to time.
10. WHEN IS THE NEXT BLOX OPPORTUNITY OPEN?
Check our website or subscribe for regular alerts and updates.
11. WHY DO YOU NEED MY IDENTITY?
In anticipation of new KYC and AML rules we will require your identity to withdraw any funds. We are working with our technology partners to find the easiest way to do this.
12. WHO ARE CRYTPO BLOX?
CRYPTO BLOX is a division of Wealth Fury Pty Ltd, a 21st century investing company.
Our founders have extensive experience in financial advice, cryptocurrencies, blockchain development and asset trading.
We believe that the game of investing needs to change. It needs to reward innovation, it needs to be open to all and through blockchain technology we think you’re about to see a paradigm shift in how and why people invest over the next decade.
CRYPTO BLOX is our first product and is designed to make it easy for investors to add cryptocurrencies to their overall portfolio.
13. ARE YOU APPROPRIATELY LICENSED?
Wealth Fury- the owner of CRYPTO BLOX - is an Australian incorporated company and a member of Fintech Australia. We are not a fund and as such do not require a fund AFSL.
Our founder is a former personal financial advisor and works as a qualified general advice financial provider in another business (not related to Wealth Fury).
CRYPTO BLOX operates with the appropriate financial licenses as required and constantly review these requirements as the cryptocurrency opportunity evolves.
We are also registered with AUSTRAC – the Australian government anti-money laundering department.
WARNING: CRYPTO INVESTING IS VERY RISKY. NEVER INVEST MORE THAN YOU CAN AFFORD TO LOSE AND ALWAYS SEEK APPROPRIATE PERSONAL FINANCIAL ADVICE FROM A LICENSED FINANCIAL ADVISOR PRIOR TO A FINAL INVESTMENT DECISION.