Soon is a fully automated crypto investing tool that allows users to invest in cryptocurrency without the stress of speculating. The platform uses dollar-cost averaging to invest, meaning users do not need to decide when to buy or sell.
Soon also provides a standard portfolio, eliminating the need for users to spend hours researching what to buy. The tool is designed to take advantage of micro-opportunities provided by cryptocurrency through short-term volatility, buying often and selling often during small and large price upswings, taking smaller gains more frequently that add up over time.
When users spend, Soon is notified and sells their highest gains to cover the transaction. Soon transfers money from the user’s bank to invest in crypto and transfers earnings back to their bank weekly. With every gain sold, Soon sets a portion aside in a Tax Stash to cover the user’s capital gains taxes.
Soon has a strict 1 to 1 custody policy, which means that for every cryptocurrency denomination presented in the app, that exact amount is held in the user’s wallet. The tool is safe, secure, and ethical, with assets held solely in the US, meeting all regulatory requirements.
More details about Soon app
What is Soon app?
Soon app is a fully automated crypto investing tool that allows users to invest in cryptocurrency without the complication of speculating. The tool uses dollar-cost averaging to invest, and it also provides a standard portfolio. The app is designed to leverage the micro-opportunities provided by cryptocurrency through short-term volatility, buying often and selling often during small and large price swings and taking smaller gains more frequently.
How does Soon manage compliance issue related to crypto?
Soon manages compliance issues related to crypto by operating solely within the US regulatory framework and meeting all its mandatory requirements. The funds of users are not leveraged for undisclosed, risky, or foreign ventures. With a strict 1 to 1 custody policy, Soon ensures every crypto denomination shown in the app matches the exact amount held in the user’s wallet, mitigating regulatory risks.
What kind of investment principles does Soon follow?
Soon automates sound investing principles like dollar-cost averaging, diversification, and non-prediction. The tool enhances probability by investing in and tracking hundreds of crypto positions each month. When users spend, Soon checks markets to aggressively take advantage of gains that might be available. By constantly selling available gains, the app can also reduce exposure to loss. It keeps value in crypto just long enough to take gains, but not so long as to miss out on opportunities.
Who provides custodial services for Soon?
Soon is supported by Fortress Trust for providing custodial services. Based solely in the USA, Fortress Trust is one of the most trusted partners in the crypto industry, offering secure custodial services that ensure the safety, security, and compliance of the digital assets held by Soon users.
Does Soon automate all aspects of crypto investing?
Yes, Soon automates all aspects of crypto investing. The app uses dollar-cost averaging to spread out investments over time, minimizing the impact of market volatility. When users spend, the app is notified and covers the transaction by selling their highest gains. Soon also provides a standard portfolio, eliminating the need for users to decide what cryptos to buy. Finally, the app also takes care of moving money between the user’s bank and their crypto investments, as well as setting aside a portion of each gain to cover potential capital gains taxes.
What is the Tax Stash in Soon?
The Tax Stash in Soon is a provision made for the user’s capital gains taxes. With every gain that is sold, Soon sets aside a portion of the profit in the Tax Stash. This helps users deal with the fiscal responsibilities that come with capital gains from cryptocurrency trading.