Building a successful crypto portfolio requires diversification, and that applies to meme coins as well, according to an update from Bitpanda.
However, actively researching and managing “a basket of individual meme coins is a time-consuming endeavor,” Bitpanda notes while adding that this is where the new Meme Coin Leaders Index comes in.
As explained in a blog post, this Bitpanda Crypto Index reportedly “streamlines the process of investing in fast-moving meme coins by offering a single, diversified meme coin index.”
This index tracks the performance of “the top six meme coins by market capitalization, providing you with exposure to the leading names in the meme coin space without the burden of individual coin selection.”
It’s raining dogs and frogs in the newest Bitpanda Crypto Index, “initially featuring Pepe (PEPE), Floki (FLOKI), Dogwifhat (WIF), Bonk (BONK), Dogecoin (DOGE), Shiba Inu (SHIB).”
Along with the new Meme Coin Leaders Index, you can also “invest in the top 5, 10 and 25 cryptocurrencies or dive into DeFi, Infrastructure, Smart Contracts and Media & Entertainment.”
Diversification is a cornerstone of any investment strategy. By tracking multiple meme coins, the index “helps mitigate the risk associated with any single coin’s performance.”
You can skip the hassle of researching and managing individual meme coins.
The index takes care of the heavy lifting, “allowing you to participate in the meme coin market with a single investment.”
Meme coins have a history of explosive price movements. The index grants you “access to this potential for growth while offering some built-in balance.”
Bitpanda Crypto Index is an automated way to “invest with predefined portfolios optimised to current market conditions.”
You may automatically invest in small slices of “the entire crypto market and reduce your exposure to market volatility.”
Bitpanda rebalance your Index on a monthly basis, so you never need to pick individual “winners” or worry about missing out on the next big thing.
The indices behave like “any other digital asset on Bitpanda: buy, sell or swap all assets in your Crypto Index portfolio within seconds.”
Combining Bitpanda Crypto Indices with a savings plan “is just one way to benefit from cost averaging.”
The monthly rebalancing event for each Index makes you “eligible to receive BEST Rewards.”
However, you also need “to hold BEST and actively claim BEST Rewards.”
