Can I buy Crypto with Raiz Invest?
Raiz Invest does not currently offer any products that give investors direct access to buying and selling cryptocurrencies. That said, they do offer the Sapphire Portfolio, which is 95% tech stocks and 5% Bitcoin which is backed by a NASDAQ-listed Bitcoin ETF called the Grayscale Bitcoin Trust (GBTC).
Outside of this, there are no other ways to directly buy Bitcoin, Ethereum, Solana and other cryptocurrencies on their application. For more information read our Raiz Review.
How to buy Crypto with a Raiz Alternative
The best alternative in Australia to invest in cryptocurrencies is the CoinSpot platform. They offer over 370 cryptocurrencies to buy and sell with low fees starting at 0.1% per trade. Their platform also offers other innovative features such as Crypto Staking, an NFT Marketplace, NFT Wallets, SMSF onboarding and much more.
You can get started with this simple guide:
- Create an account: Sign up to the CoinSpot trading platform and verify your account.
- Deposit AUD: Select the 'Deposit Funds' button and select from any of the available deposit methods.
- Find Crypto Asset: Once the AUD lands in your account, find the cryptocurrency you want to purchase,
- Execute Trade: Input the AUD amount and execute your trade.
Raiz Invest is an Australian investing app that allows users to automatically purchase diversified portfolios of Stocks & ETFs. It does so by automatically rounding up any spare change from your day-to-day purchases and investing it in a selected Stock or ETF through the app.
The Raiz Invest platform currently offers 3 different portfolios; the Cash Portfolio, the Conservative Portfolio and the Sapphire Portfolio.
The Cash Portfolio is made up of predominantly cash and cash-like investments. This might suit investors who are looking for stability and income, or those who are approaching retirement.
The Conservative Portfolio has a higher proportion of growth assets like shares and property, which might suit investors who are looking to grow their wealth over a longer period of time.
The Sapphire Portfolio is the most aggressive portfolio offered by Raiz and is made up of predominantly tech stocks and Bitcoin. This portfolio might suit investors who are willing to take on more risk in pursuit of higher returns.