Services that allow individuals to invest small amounts of money on a recurring basis have become popular in recent years, especially for young people. An automatic cryptocurrency buying app that rounds up everyday purchases has just secured a $100,000 investment on Shark Tank.
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Bundil Enters the Shark Tank
Bundil is an Acorns-like service for cryptocurrency. The platform allows users to automatically invest their spare change from everyday credit or debit card purchases into a number of cryptocurrencies including bitcoin core (BTC), ethereum (ETH), litecoin (LTC), and bitcoin cash (BCH). It rounds up transactions from normal spending to the nearest dollar, and invests in the cryptocurrency the users chooses.
For safety, Bundil doesn’t hold any of the users’ fiat or cryptocurrency, instead using the Coinbase exchange to handle all of the transactions. It also allows users to track their portfolio growth, and manage the holdings all without leaving the app. Its pricing plans start at just $2 per month.
The founder of Bundil, Dmitri Love, went on ABC’s Shark Tank during the latest episode of the show which aired on Sunday, Oct. 21, and presented the app.
Kevin O’Leary Takes a Big Bite
As required by the reality TV format, Love told an emotive and inspiring story about how he came up with the idea when he was a biochemistry student at college and self-learned how to program while recovering from a sports injury. “I thought, man, you know, anyone that’s trying to invest in cryptocurrency has to go through all these steps to try to figure out how to buy it. And I thought there could be an easier way for it to be done.”
Love asked for $100,000 in exchange for 10 percent of the venture at the start. Kevin O’Leary offered him the requested sum, but for a hefty 50 percent ownership of the startup. Love countered that “50 percent is quite a bit,” but begrudgingly agreed to the deal with the lone shark as the others were not interested in making counter offers.
Of course this isn’t the first time the sharks have heard about cryptocurrency. Mark Cuban, who was doubtful central banks would allow bitcoin to grow back in 2014, has become much more open to the idea recently, even suggesting that his NBA team will . Cryptocurrency angel investor and Civic founder Vinny Lingham has also been a regular on the South African version of the show.
Would you use a roundup app to automatically buy cryptocurrency? Share your thoughts in the comments section below.
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This adds to an already large selection of platforms where Humaniq community members can exchange the HMQ cryptocurrency token.
Humaniq users can now buy, sell and trade the HMQ token on HitBTC, on pairs traded against both BTC and ETH. With the company having already secured the listing with 7 other exchanges, including names such as , , Mercatox and IDEX, the addition of HitBTC to this list represents the next step in improving access of Humaniq’s 500,000+ user base to the platform’s native token.
The announcement comes off the back of significant achievements of the company, such as the opening of Humaniq App’s cryptocurrency wallet to 46 countries in 5 continents, together with recent recognition as one of the most promising Blockchain & financial inclusion startups at industry conferences such as 2018 and
Humaniq’s primary product is , a secure messenger and wallet, based on BioID authentication and a scalable Hybrid Blockchain transacting backend, providing unbanked and underbanked populations all over the world with a one-stop solution for transacting and messaging.
HitBTC is one of the oldest still operating cryptocurrency exchanges, opening its services in 2013, and currently providing its users with more than 300 cryptocurrencies available on bitcoin, Ethereum, Litecoin, USDT, and other markets. Its extensive list of features includes a rebate system for market makers, no limits for deposit of withdrawal of digital assets, a fault-tolerant matching engine and an advanced API system.
These qualities have allowed HitBTC to comfortably stay in the Top 10 of exchanges ranked by volume, as compiled by Coinmarketcap.
Alex Fork, Founder & CEO of Humaniq, said:
“Listing on new exchanges is a very important activity for any cryptocurrency project, improving the standing of the community and providing new ways to be a part of it. HitBTC’s powerful platform will surely be beneficial in the wider plan of expansion of the HMQ token, and we will continue building on top of our successes to provide our users with even more financial tools that would help them improve their lives in meaningful ways.”
About Humaniq
Humaniq is a London-based Fintech firm that provides next generation financial services using its Blockchain-based mobile application to the unbanked and underprivileged in emerging economies globally. Humaniq is focused on worldwide financial inclusion by providing access to global markets, greater opportunities, and novel financial solutions using repurposed technologies for those gaining exposure to financial services for the first time.
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