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An Update on the Bitcoin Defense (Formerly Quant)
An Update on the Bitcoin Defense (Formerly Quant)
Nick Smith avatar
Written by Nick Smith
Updated over a week ago

This article is pertaining to the Bitcoin Defense (formerly Quant) product which is officially being wound down as of Feb 7th, 2023.

Background:

The Bitcoin Defense was launched in 2019 in partnership with crypto hedge fund Blockforce Capital and has been one of Ember’s most popular portfolios over the years. This decision was made because Ember is currently charting a course in a new direction, focused on earning Bitcoin and thematic index investing.

Next Steps:

The portfolio is currently held in USDC and will remain this way indefinitely. Since Ember is non-custodial, you may keep your funds within the portfolio for as long as you’d like, or you may sell out of the portfolio at any time. The team will automatically be waiving all Ember trade fees for users who sell out of the portfolio. Ember will also automatically cover most Ethereum on-chain mining fees as well.

If you decide to sell out of the Bitcoin Defense and re-invest in our other portfolios, we recommend re-investing on the Hybrid Custody side. Portfolio minimums are only $50, and mining fees are near $0 on this setting. We’ll gladly waive any Ember buy fees for you, just email us at [email protected] and we’ll ensure it’s taken care of.

How to sell your portfolio & re-invest on the Hybrid Setting:

  • Open Settings

  • Tap Sell Crypto

  • Follow the steps & hit confirm

  • Wait for your Bitcoin Defense to finish selling and to receive your BTC in your Ember wallet

  • Open Settings again

  • Tap Custody

  • Switch to Hybrid Custody

  • Then you'll be ready to re-invest! The portfolios listed on this setting offer lower minimums/mining fees

- Your Ember Fund Team

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