Get Regular Updates!
Search

Tech

image|

Bamboo

Cryptocurrency for the rest of us

Cryptocurrency for the rest of us

Thanks to a WA startup, there’s now an easy way for everyone to invest in cryptocurrencies like bitcoin.

Cryptocurrency for the rest of us

While almost everyone (and their dog) now knows about bitcoin, it is still very difficult for the average person to actually buy it. Purchasing bitcoin and other types of cryptocurrency requires a level of techy knowledge that can be a barrier. This includes digital wallets, currency conversion, complicated passwords and so on.

Cryptocurrency can also be a risky investment, with prices fluctuating wildly from one day to the next. So while everyone might be aware and curious about cryptocurrency, benefiting from it is still out of reach for most people.

Bamboo

Enter Bamboo, a West Australian startup whose mission is to make a cryptocurrency investment platform for the rest of us.

Bamboo brings together two new ideas. One complicated (cryptocurrency) and one a bit more simple (microinvesting). As platform Raiz (previously Acorns Australia) describes on their site, microinvesting works by transferring “spare change automatically from everyday purchases into a diversified portfolio”. For example, if you were to buy a coffee for $4.80, Raiz would round the sale up to $5.00 and then invest the $0.20 for you.

Video|Raiz
How microinvesting works with app’s like Raiz

In this way, microinvesting makes investments super easy and accessible to everyone. This is why microinvesting is particularly popular with Millennials. Millennials are less likely to have the knowledge, interest or resources to make more traditional investments (insert joke about smashed avo toast here).

1 + 1 = 5

Now here’s where Bamboo is different. Existing microinvestment platforms invest your money in the usual old-school way—stocks, bonds and so on. Bamboo, on the other hand, will invest it in a variety of cryptocurrencies. And they make the process quick and easy in a way that doesn’t require lots of technical knowledge and time. As Nesh Sooriyan, COO and co-founder of Bamboo told me, you can invest in crypto via Bamboo with as little as $1 and in less than a minute.

Going global but staying local

Founded by West Australians and with a research and development arm based in the state, Bamboo is moving globally. While the company is located in Switzerland, they’ve maintained WA as their home base. As Nesh shared with me, “We stayed in WA because the Spacecubed [startup] community was so strong.” Bamboo was also impressed by the level of local cryptocurrency talent, which enabled them to also hire their team here. Nesh shared with me that Australia has some of the best R&D talent they’ve come across in the space.

A new WA startup company is making the cryptocurrency world more accessible to us all with a new platform—Bamboo. Bamboo brings the process of micro-investing popularised by apps like Accorns to the crypto space, making it easy to invest your loose change in cryptocurrencies without the tech know-how.
Image|Spacecubed
“We stayed in WA because the Spacecubed [startup] community was so strong.”

Bamboo is yet another example of West Australian ingenuity in the blockchain and fintech space. They join the ranks of other ground-breaking WA startups. This includes Power Ledger, who are using blockchain to enable clean power sharing, DigitalX Investments, a crypto investment fund, and Credi, which provides peer-to-peer lending.

Natural evolution VIDEO

Republish

Creative Commons Logo

Republishing our content

We want our stories to be shared and seen by as many people as possible.

Therefore, unless it says otherwise, copyright on the stories on Particle belongs to Scitech and they are published under a Creative Commons Attribution-NoDerivatives 4.0 International License.

This allows you to republish our articles online or in print for free. You just need to credit us and link to us, and you can’t edit our material or sell it separately.

Using the ‘republish’ button on our website is the easiest way to meet our guidelines.

Guidelines

You cannot edit the article.

When republishing, you have to credit our authors, ideally in the byline. You have to credit Particle with a link back to the original publication on Particle.

If you’re republishing online, you must use our pageview counter, link to us and include links from our story. Our page view counter is a small pixel-ping (invisible to the eye) that allows us to know when our content is republished. It’s a condition of our guidelines that you include our counter. If you use the ‘republish’ then you’ll capture our page counter.

If you’re republishing in print, please email us to let us so we know about it (we get very proud to see our work republished) and you must include the Particle logo next to the credits. Download logo here.

If you wish to republish all our stories, please contact us directly to discuss this opportunity.

Images

Most of the images used on Particle are copyright of the photographer who made them.

It is your responsibility to confirm that you’re licensed to republish images in our articles.

Video

All Particle videos can be accessed through YouTube under the Standard YouTube Licence.

The Standard YouTube licence

  1. This licence is ‘All Rights Reserved’, granting provisions for YouTube to display the content, and YouTube’s visitors to stream the content. This means that the content may be streamed from YouTube but specifically forbids downloading, adaptation, and redistribution, except where otherwise licensed. When uploading your content to YouTube it will automatically use the Standard YouTube licence. You can check this by clicking on Advanced Settings and looking at the dropdown box ‘License and rights ownership’.
  2. When a user is uploading a video he has license options that he can choose from. The first option is “standard YouTube License” which means that you grant the broadcasting rights to YouTube. This essentially means that your video can only be accessed from YouTube for watching purpose and cannot be reproduced or distributed in any other form without your consent.

Contact

For more information about using our content, email us: particle@scitech.org.au

Copy this HTML into your CMS
Press Ctrl+C to copy

We've got chemistry. Want something physical?