What if buying cryptocurrencies was as easy as online shopping? That’s what cryptocurrency investment platform KoinBasket promises its users.
Now available in the UAE, the app offers cryptocurrency investing to users based on diverse themes and provides them with analysis on the asset class. It was created with the aim of solving the challenges faced by novice investors in studying and investing in assets such as cryptocurrencies and non-fungible tokens (NFTs).
Similar to investing in index funds or exchange-traded funds (ETFs), KoinBasket users can invest in a curated basket of cryptocurrencies.
“The main reason why KoinBasket will be a game-changer in this market is because there is no know-your-customer process, which is the biggest headache for any user. All they need to do is use their cryptocurrency exchange credentials to browse through our baskets,” says Khaleelulla Baig, founder and chief executive of KoinBasket.
“We also do not take custody of funds and assets. While retail investors usually connect their exchange accounts with third-party apps by sharing their secret API keys, which is a high security risk, KoinBasket allows them to invest in diversified crypto baskets without seeking access to their secret APIs.”
It has, however, been a difficult year for cryptocurrency investors.
Bitcoin plunged from a record high of about $68,000 last year to trade in the $20,000 range on Thursday, while the cryptocurrency sector’s market capitalisation has fallen below the $1 trillion mark.
Analysts say that the cryptocurrency roller coaster ride is far from over, dragged down by this year’s equity bear market, global economic uncertainty, higher interest rates and a sharp rise in the cost of living around the world.
“When we do a comparative analysis between stock markets and cryptocurrencies, I use the analogy of the former being a mature, 40-year-old guy, which at the age of 15 was as volatile as crypto today,” Mr Baig says.
“Cryptocurrency is an adolescent asset class that needs to grow and evolve. Because we are still in the R&D phase, you will see a lot of fluctuations and crypto projects going bust. Once the market matures after five or six years, you will see more stability, Bitcoin not fluctuating more than 10 per cent and the top 10 cryptocurrencies being very stable.”
KoinBasket’s engine compiles complex crypto data and analyses current market trends, past performance and valuations to create ready-to-invest thematic and sector-based baskets such as G.O.A.T basket, NFT & Gaming basket, Whale basket and more, tailored according to investor preferences.
It is complicated and time-consuming for beginners to build a diversified investment portfolio and rebalance it. If people find a ready-to-invest ETF or an index fund kind of platform, it becomes easy, according to KoinBasket’s founder.
A user can download the KoinBasket app, which is available on iOS and Android, and must have an existing cryptocurrency trading account, for example, in BitOasis, Coinbase or Binance. They can use the same login credentials to access the KoinBasket investment interface, pick a crypto basket and execute the trade in a single click.
Through a single gateway, the user can choose several cryptocurrencies from a basket and execute the trade on the same environment without having to leave the screen and go to another application, doing another login. All frictions are removed, Mr Baig says.
“When you come on KoinBasket, we are not just solving the problem of where you buy, we are also solving the problem of what you buy and how much you buy,” he says.
“The exchange will never tell you what to buy. You will have to do your own research and then execute the trade. But on Koinbasket, we give you ready-to-invest baskets. As soon as you come on the platform, you find the most suitable basket and buy it in two clicks.”
Investing in a basket of cryptocurrencies will often provide a well-diversified benefit compared with investing in just one or two big names, according to Devesh Mamtani, chief market strategist at Century Financial in Dubai.
"The entire domain of cryptocurrencies is often confusing and becomes quite daunting to understand. This is primarily due to the complex nature of the underlying domain terms and the understanding of its primary and actual case," he says.
"Cryptocurrency prices tend to be volatile, with the domain having seen a lot of flash crashes. Looking at the total number of trading pairs and exchanges in this domain can give the investor headaches."
Popularity drives the decisions to create specific crypto baskets, according to Mr Baig.
For example, a lot of people have been hearing about the metaverse. But how will they identify good projects in the metaverse or NFT space? That inspires the KoinBasket team to build crypto baskets.
“We go out in the market, screen cryptocurrencies and segregate them into different classifications,” he says.
“For example, we may find 100 crypto projects on NFT. Out of those, we select and screen six or seven and come up with a final basket.”
The G.O.A.T basket includes cryptocurrencies that have withstood the test of time for at least five years, gone through two or three market cycles and made good returns for investors, while the Lambo basket is a high risk-reward basket aimed to help investors make quick money from small cryptocurrencies that are underpinned by solid fundamentals.
The NFT & Gaming basket focuses on cryptos in the digital art and sports space, while the Whale basket tracks where large institutions are investing. Others include Halal basket, Web3 basket and DeFi basket.
KoinBasket’s health check engine scours crypto data for red flags and lucrative investing opportunities to provide investors with alerts to take prompt action and rebalance portfolios.
Although the platform is geared towards beginners now, it will allow expert investors to create their own crypto baskets and onboard users. This will happen in the next phase, maybe in the next quarter, Mr Baig says.
“We will have a vetting process. We will not allow anyone to come and create a basket. We will speak to the person, understand the background, what's the performance and then allow them to proceed,” he says.
KoinBasket aims to offer users the experience of a Web2 investment platform, but the product is Web3.
“They’ve gone through a similar experience with mutual funds in stock markets. But they will now do it for cryptocurrencies in the fashion of a Web2 platform,” Mr Baig says.
Cryptocurrencies - in pictures
“We want to help the Web2 guys come on to the Web3 ecosystem. From there, we do the hand holding to get deeper into the Web3 ecosystem.”
KoinBasket charges 0 per cent transaction fees and initial investments start from Dh100 in the UAE and $200 in the US.
Founded in late 2021, the Singapore-registered start-up selected the US as its first market considering its size and maturity. After expanding to the UAE, KoinBasket has set its sights on the Asia Pacific region next.
It has signed partnerships with global cryptocurrency exchanges such as Coinbase and will expand in markets where they are dominant.
“In the UAE, the support extended to the crypto ecosystem is amazing,” Mr Baig says.
“Many exchanges are thriving here. Even the overall public has a good sentiment around the crypto investing philosophy.”
In the UAE, the support extended to the crypto ecosystem is amazing
Khaleelulla Baig,
founder and chief executive of KoinBasket
KoinBasket raised $2 million in a pre-seed funding round in May this year. The start-up is backed by investors including AngelList Quant Fund, Stonks Fund, Kube VC and senior executives from Ripple, Binance and Google.
“We backed Koinbasket led by Khaleelulla Baig for his audacious vision to make professional crypto investing easily accessible and simple for even a novice investor,” says Miten Mehta, an angel investor from the US and an early backer of KoinBasket.
“The KoinBasket team is on a mission to disrupt the massive asset management industry with an estimated AUM [assets under management] of $145 trillion.”
Meanwhile, Keith Lee, 35, a US-based software engineer, says he chose KoinBasket because he was keen to invest in cryptocurrencies beyond Bitcoin.
“I liked their theme-based investing offering, which enabled me to invest in crypto projects that are in my area of interest,” he says.
“I liked the G.O.A.T. and Moon basket. KoinBasket makes trading across multiple cryptocurrencies simple and convenient and I can easily trade at one go. I did not have to go through the hassle of purchasing one crypto at a time on my exchange.”
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Recent winners
2002 Giselle Khoury (Colombia)
2004 Nathalie Nasralla (France)
2005 Catherine Abboud (Oceania)
2007 Grace Bijjani (Mexico)
2008 Carina El-Keddissi (Brazil)
2009 Sara Mansour (Brazil)
2010 Daniella Rahme (Australia)
2011 Maria Farah (Canada)
2012 Cynthia Moukarzel (Kuwait)
2013 Layla Yarak (Australia)
2014 Lia Saad (UAE)
2015 Cynthia Farah (Australia)
2016 Yosmely Massaad (Venezuela)
2017 Dima Safi (Ivory Coast)
2018 Rachel Younan (Australia)
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Results
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Know your Camel lingo
The bairaq is a competition for the best herd of 50 camels, named for the banner its winner takes home
Namoos - a word of congratulations reserved for falconry competitions, camel races and camel pageants. It best translates as 'the pride of victory' - and for competitors, it is priceless
Asayel camels - sleek, short-haired hound-like racers
Majahim - chocolate-brown camels that can grow to weigh two tonnes. They were only valued for milk until camel pageantry took off in the 1990s
Millions Street - the thoroughfare where camels are led and where white 4x4s throng throughout the festival
LAST 16 DRAW
Borussia Dortmund v PSG
Real Madrid v Manchester City
Atalanta v Valencia
Atletico Madrid v Liverpool
Chelsea v Bayern Munich
Lyon v Juventus
Tottenham v Leipzig
Napoli v Barcelona
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
Recycle Reuse Repurpose
New central waste facility on site at expo Dubai South area to handle estimated 173 tonne of waste generated daily by millions of visitors
Recyclables such as plastic, paper, glass will be collected from bins on the expo site and taken to the new expo Central Waste Facility on site
Organic waste will be processed at the new onsite Central Waste Facility, treated and converted into compost to be re-used to green the expo area
Of 173 tonnes of waste daily, an estimated 39 per cent will be recyclables, 48 per cent organic waste and 13 per cent general waste.
About 147 tonnes will be recycled and converted to new products at another existing facility in Ras Al Khor
Recycling at Ras Al Khor unit:
Plastic items to be converted to plastic bags and recycled
Paper pulp moulded products such as cup carriers, egg trays, seed pots, and food packaging trays
Glass waste into bowls, lights, candle holders, serving trays and coasters
Aim is for 85 per cent of waste from the site to be diverted from landfill
Results
5.30pm: Maiden (TB) Dh82,500 (Turf) 1,400m; Winner: Mcmanaman, Sam Hitchcock (jockey), Doug Watson (trainer)
6.05pm: Handicap (TB) Dh87,500 (T) 1,400m; Winner: Bawaasil, Sam Hitchcott, Doug Watson
6.40pm: Handicap (TB) Dh105,000 (Dirt) 1,400m; Winner: Bochart, Fabrice Veron, Satish Seemar
7.15pm: Handicap (TB) Dh105,000 (T) 1,200m; Winner: Mutaraffa, Antonio Fresu, Musabah Al Muhairi
7.50pm: Longines Stakes – Conditions (TB) Dh120,00 (D) 1,900m; Winner: Rare Ninja, Royston Ffrench, Salem bin Ghadayer
8.25pm: Zabeel Trophy – Rated Conditions (TB) Dh120,000 (T) 1,600m; Winner: Alfareeq, Antonio Fresu, Musabah Al Muhairi
9pm: Handicap (TB) Dh105,000 (T) 2,410m; Winner: Good Tidings, Antonio Fresu, Musabah Al Muhairi
9.35pm: Handicap (TB) Dh92,500 (T) 2,000m; Winner: Zorion, Abdul Aziz Al Balushi, Helal Al Alawi
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More from Rashmee Roshan Lall
Defined benefit and defined contribution schemes explained
Defined Benefit Plan (DB)
A defined benefit plan is where the benefit is defined by a formula, typically length of service to and salary at date of leaving.
Defined Contribution Plan (DC)
A defined contribution plan is where the benefit depends on the amount of money put into the plan for an employee, and how much investment return is earned on those contributions.
List of UAE medal winners
Gold
Faisal Al Ketbi (Open weight and 94kg)
Talib Al Kirbi (69kg)
Omar Al Fadhli (56kg)
Silver
Zayed Al Kaabi (94kg)
Khalfan Belhol (85kg)
Zayed Al Mansoori (62kg)
Mouza Al Shamsi (49kg women)
Bronze
Yahia Mansour Al Hammadi (Open and 94kg)
Saood Al Hammadi (77kg)
Said Al Mazroui (62kg)
Obaid Al Nuaimi (56kg)
Bashayer Al Matrooshi (62kg women)
Reem Abdulkareem (45kg women)
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
The specs
Engine: 2-litre 4-cylinder and 3.6-litre 6-cylinder
Power: 220 and 280 horsepower
Torque: 350 and 360Nm
Transmission: eight-speed automatic
Price: from Dh136,521 VAT and Dh166,464 VAT
On sale: now
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Company%C2%A0profile
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Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
THURSDAY FIXTURES
4.15pm: Italy v Spain (Group A)
5.30pm: Egypt v Mexico (Group B)
6.45pm: UAE v Japan (Group A)
8pm: Iran v Russia (Group B)
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COMPANY PROFILE
Name: Mamo Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua Based: Dubai, UAE Number of employees: 28 Sector: Financial services Investment: $9.5m Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors. GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
BUNDESLIGA FIXTURES
Saturday
Borussia Dortmund v Eintracht Frankfurt (5.30pm kick-off UAE)
Bayer Leverkusen v Schalke (5.30pm)
Wolfsburg v Cologne (5.30pm)
Mainz v Arminia Bielefeld (5.30pm)
Augsburg v Hoffenheim (5.30pm)
RB Leipzig v Bayern Munich (8.30pm)
Borussia Monchengladbach v Freiburg (10.30pm)
Sunday
VfB Stuttgart v Werder Bremen (5.30pm)
Union Berlin v Hertha Berlin (8pm)
What is graphene?
Graphene is a single layer of carbon atoms arranged like honeycomb.
It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were "playing about" with sticky tape and graphite - the material used as "lead" in pencils.
Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But as they repeated the process many times, the flakes got thinner.
By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment had led to graphene being isolated for the very first time.
At the time, many believed it was impossible for such thin crystalline materials to be stable. But examined under a microscope, the material remained stable, and when tested was found to have incredible properties.
It is many times times stronger than steel, yet incredibly lightweight and flexible. It is electrically and thermally conductive but also transparent. The world's first 2D material, it is one million times thinner than the diameter of a single human hair.
But the 'sticky tape' method would not work on an industrial scale. Since then, scientists have been working on manufacturing graphene, to make use of its incredible properties.
In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. Their discovery meant physicists could study a new class of two-dimensional materials with unique properties.
