How to buy crypto without thinking about it
Repeated surveys show Australian millennials warming to cryptocurrency instead of conventional investments – but with many likely to pour four-figure tax refunds into volatile crypto, one fintech startup believes it has found a less risky way to build a crypto portfolio.
The digital equivalent of a piggy bank, Perth-based Bamboo has built a novel business model applying the concept of dollar cost averaging to crypto by regularly investing small sums into cryptocurrency.
Rather than requiring customers to buy large chunks of crypto like a conventional exchange, the company uses open-banking APIs to monitor bank account or credit-card transactions, then round up to the nearest dollar and invest the difference into crypto.
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Source: How to buy crypto without thinking about it | Information Age | ACS