A promising Circle Invest application from the developer of decentralized payment systems Circle has reached a new stage of its development and has become available as a closed beta test, CCN reports.
The company has not previously disclosed any information about the upcoming beta test, even now official sources do not say a word about it. Nevertheless, some of the users have already started receiving invitations to download and test the application since the 6th of March.
The Circle Invest application opens access to the institutional trading platform Circle Trade for a narrow circle of “selected” users. It is noteworthy that the platform does not take absolutely any commissions, but earns on the spread between the purchase and sale instead , the size of which fluctuates around 1% depending on the conditions on the market.
As for the application, it has a minimalistic, simple design, provides separate modules for each of the available cryptocurrencies and allows you to track the total investment portfolio.
At the time of beta testing, the following types of cryptocurrency are available: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC) and Ethereum Classic (ETC). There was another XRP token in the commercials , but now it is not available in the application, it may appear in later versions.
As the company said, users will have almost instant access to their funds, and will be able to withdraw up to $10,000 per week. As for the minimum investment, then anyone could become a trader if he/she has at least $1. The application has a prohibition on attempting to bypass the system. If the user tries to make a purchase with insufficient balance, he/she will be denied the opportunity to make instant purchases. There is no information whether the blocking will be permanent or not.
The exact release date is still unknown, but the Circle mentioned before that the platform would be launched in 2018. Jeremy Allaire, the CEO of the Circle, is considering Coinbase as their main competitor.