Apparently, Shark Tank’s Kevin O’Leary sees incredible value in cryptocurrency.
In fact, he just offered Bundil, a mobile software solution that allow you to invest in crypto on micro level, $100,000 for a 50% stake.
What is the Bundil App?
The Bundil app tracks and learns the spending habits of users. Furthermore, it moves spare change from everyday purchases into a cryptocurrency investment of your choice.
Many of us have a habit of tossing our spare change into a jar, and forgetting about it. We don’t think about those coins until we roll them up, and deposit them. Bundil is exactly the same but with cryptocurrencies. This is according to Dmitri Love, founder of Bundil.
The app collects the spare change from your credit and debit card transactions. Then it micro-invests that spare change into a cryptocurrency of your choice. Therefore, you’re still collecting spare change but effectively investing it.
For example, let’s say you bought dinner for $22.45.
The Bundil app would round it up to $23 and invest the 55 cents. That’s not a bad way to invest in cryptocurrency. Now, instead of just throwing your loose change into a jar, you can toss it into cryptocurrencies and perhaps see big value over time.
According to Kevin O’Leary
One point of concern for the investor is that up to 80% of micro-investment companies fail within three years due to the volatility of the market. Still, O’Leary sees a future as he currently operates another business in this field. He made Bundil an offer of $100,000 for a 50% stake, which they accepted.
In 2017, Mark Cuban invested $250,000 in a similar app called ChangED, which allows you to pay off student loans with digital spare change. By August 2017, the app exceeded $1 million in sales, and helped pay off $1 million of its users’ loans.
That’s not a bad deal. We just toss our spare change in a jar, typically. Why not put it to use?
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