Faast: The Fastest Way to Build a Cryptocurrency Portfolio
A new, fast way to build up your portfolio
If you’re diversifying and want to keep on top of your portfolio, it can be time-consuming and costly. A lot of small to medium sized investors will ignore small gains because of the hassle. Faast is the latest product looking to tackle that, with a portfolio management platform that allows for instant currency swaps without the hassle or cost of exchanges.
How Does it Work?
As with many other comparable platforms, you connect your wallet(s) and you can then see your portfolio in a list with a pie chart. There is also information about real-time prices and fluctuations. If you want to swap currencies, you can do so using their API. It’s almost instant, doesn’t require manual creation of a new transaction, and bypasses the need for costly exchanges. It’s also a client side app, which means it runs on your computer rather than Faast’s servers. This means they have no access to your money or keys. The API is open source and available to view through their website, and it works through your browser connecting to an Ethereum node to send transactions directly. So it’s safe and there are no apparent questions regarding trust to deal with.
Currently, the fee for swapping is 0.5% on both sides – so, if you swap 100 ETH, you’ll be charged 0.5ETH. The exchange rates are fixed in real time, and any network fees go to miners rather than Faast themselves. This makes it pretty cheap when compared with using exchanges.
Overall, Faast looks like a good product. Hopefully it will still be as quick and cheap if demand increases. There are also alternatives to consider, such as Delta, which can be used for ICO portfolio management as well as crypto. Faast is undoubtedly cheap and simple to use though, so could well be worth your time.
Have you used Faa.st? How have you found it so far? Let us know in the comments.