Bamboo Micro-Investment through its crypto app will enable users to invest their spare change. It will aid young users and others to utilize their spare change in buying and building a digital asset portfolio.
Bamboo Micro-investment crypto app
Bamboo Micro-investment cryptocurrency app rounds up one’s spare change gained in the preceding month’s purchases. Consequently, it uses the funds to buy digital currencies such as Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETC).
For example, when a user pays for coffee at $4.85, the Bamboo system automatically rounds off the figure to $5. Thus, using the 15 cents to purchase digital currency. According to the CEO and Co-founder of Bamboo Phil George, the firm aims at enhancing investment opportunities. It also wants users to understand emerging technologies that can enormously transform finance.
George explained that the platform intends to offer a variety of investment opportunities such as digital currencies. Bamboo is optimistic that the younger generation will use it to boost their savings. The CEO stated that “Young people are looking to emerging cryptocurrencies and Blockchain technologies, rather than investing in traditional assets such as equities or putting their savings in an institution.”
Bamboo micro-investment app is almost similar to the Raiz Invest application. It enables its users to use the electronic transaction’s change to automatically buy stock shares.
Expand the platform
However, Bamboo is set to expand the micro-investment to invest in real estate or even commodities. The firm’s team is passionate about sharing blockchain’s utility with people globally. They wanted to develop a blockchain based product that is simple to use and would attract anyone. Bamboo defines it as democratizing finance.
Bamboo is currently operating in the European market. It plans to launch in the Australian as well as the U.S markets by the end of the year. George also revealed that several developing nations have also shown interest.
Meanwhile, Bamboo reported last month that it had added two former founding members of Acorn platform to its team. Acorns is a U.S firm that runs a micro-investment network system and currently boasts $800 million in assets.
Colton Dillon, as well as Taylor Culbertson, will be instrumental in growing Bamboo’s micro-investment platform.