Bamboo is one of eight finalists in Web 3 Pitch Fest, a hackathon hosted by Extreme Tech Challenge at CoinDesk’s Consensus2022 this week. CEO Blake Cassidy now uses it to help you to store away your change in crypto. More from the RoadtoConsensus:
, a hackathon hosted by Extreme Tech Challenge at CoinDesk’s Consensus Festival this week.
“You don’t come to the app and interface with charts and order books and sophisticated tools like leveraged trading,” Cassidy told CoinDesk. “It’s crypto with bumpers. We’re setting up people for success.” For example, you can invest just a quarter in crypto by rounding the $2.75 you pay for a cup of coffee to $3. Bamboo also offers the option to invest significantly more, up to $20,000 a day, or via weekly installments, although Cassidy noted the company is not an exchange but rather “focused on being a savings app.”
Bamboo earns money through fees ranging from 0.8% for transactions above $300 to 2.5% on a sliding scale below that threshold. The smaller the transaction, the larger the fee. A closed-loop system ensures that users can’t withdraw their crypto from the platform but rather must sell it into a linked bank account.
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