Crypto Buckets are not FDIC insured, just like a Venmo or Cash App balance isn't.

Rather than using risky cryptocurrencies that are affected by market volatility (such as Bitcoin, Dogecoin, Ethereum, etc), we use the most reputable stablecoin, USDC (US Dollar Coin), which is backed by one real world U.S. Dollar or Dollar Equivalent (i.e US treasuries) for every coin issued, so the price is designed to remain 1:1 with USD. You can redeem 1 USDC for 1 USD at any time. USDC is issued by a consortium including Coinbase and Circle with regular attestations by Grant Thornton. The market cap of USDC is currently over $45 billion.

This means that the Crypto Bucket does not experience any sort of price volatility. In terms of the crypto ecosystem, USDC is generally a low risk asset. The "smart contracts" our Crypto Buckets operate on are diligently attested by one of the largest accounting and advisory firms in the US. Although we have full confidence in the soundness of the technology behind the Crypto Buckets, as with any other emerging technology, we encourage you to research potential risks.

Did this answer your question?