Bamboo’s new microsavings platform will help young people convert their spare change into a cryptoasset portfolio.
The platform rounds up users’ spare change from the previous months’ purchases and invests it into diversified Blockchain holdings including Bitcoin, Ethereum and Litecoin.
“If a user buys a coffee for $4.85, the Bamboo platform will round this cost up to $5 and invest the 15 cents into cryptocurrency,” said Bamboo CEO Phil George.
The company believes the Bamboo platform will appeal to younger people as a way of boosting their savings.
“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,” said Mr George.
Bamboo’s new platform will make Blockchain and cryptoassets more inclusive to a new audience by offering risk appropriate access to a new asset class for as little as $1.
“People feel more directly connected to the projects by investing in the token of a platform rather than holding a traditional equity share on a publicly traded securities market,” said George.
Bamboo is a Perth-based Blockchain startup that is reducing the barriers to entry for young people to get involved in Blockchain technology platforms.