Bamboo, an Australian startup company in Perth, is reportedly giving the users an opportunity for investing in the crypto industry without hassling much. We mean investing using spare change which will enable them to execute electronic transactions to micro-investment in crypto assortments.
The startup company believes that they will be able to offer improved investment opportunities for accessibility to the users. It will be executed with the company app, to promote better knowledge and understanding among its users which can also lead to significant changes in the world of finance.
The main focus of the project seems to bring crypto platform access to the masses. To do so, Bamboo will receive spare change from the electronic transactions executed by the user and in turn invest in ethereum, bitcoin as well as other major cryptocurrency portfolios. The technology initiation of the firm closely resembles the strategies applied by Raiz (formerly Acorns) Investment App.
The tentative launch date of the app is for later this year in US and Australia. However, the company is actively looking for setting up their mark beyond the Western Hemisphere and focuses on putting their effort even for the developing countries.
Phil George, CEO says that their firm plans on extending their services concerning micro-investment in real estate as well as commodities. The motivating factor is the potential value of technology-driven young and increasing residents of developing countries.
In an interview with SMH.com, George said that the Raiz investments “democratize” the results of hedge funds and wealth management companies and only makes it accessible for the higher net worth clients as a consequence. On the other hand, a similar strategic platform Robin Hood application allows the user to trade shares on a powerful arena where you will need $100,000 to start trading. But with the initiation of the Bamboo app will allow you to do all of the above with only $5. It makes it a first micro-investment app which will make such opportunities available to all the masses.
The expertise behind this strategic startup is by the founding member of US Acorns, Taylor Culbertson and Colton Dillon. As mentioned earlier as the Raiz investment app, they helped the Acorns team to get to their idea of investment startup by managing the U.S. development team. They also have the experience of directing acquisition strategy on their hands which allowed the project to gather 2 million downloads.
Phil George was the person who described the valuable expertise and experience the duo can bring in the upcoming project by Bamboo. They needed the brains behind the acquisition criteria and management of the operation which is available from the founding members. Apart from that, there are already more than 4,100 potential users that have hinted interested in using the application developed by Bamboo.
Previously CNN reported about Acorns receiving support from Bono’s Investment Startup, which indicates towards the rising interest for the forthcoming of micro-investments and bitcoins. But it is unimaginable, practically, to think that some spare change could help you to invest in Bitcoin. What are your thoughts on this; let us know in comments below.