One plucky entrepreneur stumped up the courage to take his app on Shark Tank, snagging himself a $100,000 investment in the process. Bundil – the app in question – rounds up the spare change from every transaction you make with your debit or credit card, and automatically invests it into a cryptocurrency of your choosing. It’s a very similar system to the one Revolut uses with its Vault, whereby after every transaction, the transaction is rounded up to the nearest dollar and the spare change is put into a vault that is denominated in crypto. It’s a pretty neat way to invest in cryptos without the hassle of having to log into a crypto exchange.
Still a Few Flaws
As with anything, the idea isn’t quite perfect. Unfortunately, Bundil is only compatible with US banks, meaning everyone else will have to stick to using their crypto exchange of choice. On top of this, you can’t actually touch the crypto or move it into your own wallet. It will be held in Bundil’s custodial account with Coinbase. While this is a very secure way to store cryptos, we are firm believers that if you don’t have the private keys to your crypto, it’s not really in your possession.
Helping Everyone Have Access to Crypto
If you look past its few minor flaws – if you can even call them flaws – Bundil is giving everyday people the ability to get their hands on crypto in a simple and easy way. By removing the technical aspect of buying and storing cryptocurrencies, Bundil is helping to push the boundaries of mass adoption and giving all the ability to hold crypto. Another easy way to buy crypto is with the Change app. It works slightly differently to Bundil, but it’s just as easy to use.
Making Mass Adoption Possible
Simplistic and automatic apps like Bundil are making mass adoption possible and more likely to happen in a shorter time frame than anyone would have ever expected. However, Francis Pouliot – Bylls CEO – believes that the key to mass adoption is in fact paying wages in crypto. People who buy crypto with fiat are likely to hold their digital coins and change it back to fiat in order to spend it. Whereas people who are paid in crypto are more likely to spend the crypto on services, goods, and experiences. Whichever way you cut it, if both methods are implemented, mass adoption will begin to happen.
Dmitri Love – Bundil CEO – is helping to change the landscape of crypto holders and is looking to make it ultra-easy for everyone to get their hands on crypto. Bundil’s sleek user interface and bank pairing make buying cryptos easier than topping up your savings account. If you use an American bank, it’s certainly well worth checking out.