South African Crypto Platform Revix Raises $4.1 Million
South African crypto-currency investment platform Revix has reportedly raised around $4.1 million in its latest funding round. According to the company, some of the capital raised will be used to launch the Revix mobile app and for various investment opportunities in the fourth industrial revolution (4IR). In addition, Revix intends to use part of these funds to finance the company’s expansion in the European Union.
According to the report, which details the future plans of the cryptocurrency platform, Revix also plans to offer a loyalty and behavioral rewards program in which customers can earn points that can be redeemed for bitcoins. Revix founder and CEO Sean Sanders elaborates on this topic:
We are developing a behavioral engagement model that encourages investors to make smart investment decisions, such as diversifying their investment portfolio, expanding their investor community, improving their financial literacy and making smart investment decisions over the long term, while being rewarded for doing so.
Meanwhile, in another report, Sanders warns South African investors in cryptocurrencies not to invest more than they can afford to lose. Instead, the CEO wants investors to consider putting a small portion of their wealth into cryptocurrencies. added Sanders:
A small spread of 1-5% of your total net assets in cryptocurrencies can lead to a significant improvement in overall portfolio returns over the long term.
Meanwhile, the CEO concluded the interview by advising cryptocurrency investors to consider diversifying their portfolios to reduce the risks of exposure to a single stock or industry.
What do you think of Revix’s $4.5 million fundraiser? Tell us what you think in the comments below.
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