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Advocating for responsible investing in crypto, the platform saw a 12x surge in its user base in the past 12 months despite a tough year
Mudrex, Bengaluru and San Francisco-based global crypto investing platform, offers individuals the ability to invest in index like products for crypto. The platform's flagship index, Crypto Blue Chip Coin Set, outperformed Bitcoin generating net returns of 378% over the past three years, compared to 129% for Bitcoin, the largest cryptocurrency, although it carries a slightly higher risk than Bitcoin. The Coin Set gave an annualized return of 68% compared to Bitcoin’s annualized returns of 32%.
Mudrex offers tools that make index investing in cryptocurrencies simple. It creates, tracks, rebalances and reconfigures indexes, providing investors with the opportunity to invest in them. Mudrex has demonstrated impressive results, proving that indexes work not only for equities but also for cryptocurrencies in the long run.
The platform, which is backed by Nexus Venture Partners, Y-Combinator and other prominent investors, has also seen a surge of approximately 12x in its user base over the past year, despite 2022 being a tough year for the entire market. Of the company's user base, about 90% are predominantly from India.
Mudrex has seen significant growth from users in tier 1 cities such as Delhi, Mumbai, Bangalore, Kolkata, and Hyderabad, as well as a surge in interest from tier-2 cities like Lucknow, Jaipur, Ahmedabad, Pune, and Chennai. The increasing awareness of cryptocurrency and changing perspective towards long term investing among retail investors has led Mudrex to now expand rapidly to Europe where the remaining 10% user base is.
The company is delighted to see such strong performance in a challenging market and looks forward to continuing to provide investors with the diversification and investment opportunities they need to succeed in the long run.
Commenting on this, Edul Patel, CEO & Co-founder of Mudrex , says “Mudrex has been dedicated to providing investing products and tools that simplify crypto investing. Our commitment towards this goal is now also reflected in the data, which demonstrates the effectiveness of our approach”.
About Mudrex:
Launched in 2018, Mudrex has the vision of making crypto investing less risky and long-term so that ordinary investors can benefit from the massive wave of wealth creation. Founded by Edul Patel, Alankar Saxena, Rohit Goyal, Prince Arora the Y-Combinator backed enterprise has established a robust investing platform that can be used by both newcomers and seasoned investors. The US-headquartered and Bengaluru-based fintech startup aims to be the largest asset management platform for crypto.
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