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Cryptocurrencies, a growing asset class

As fintechs have made investing more accessible, investing in digital currencies has also become more mainstream. YouGov has estimated that 4 million Australians are likely to purchase cryptocurrencies within the next year. More globally, CoinMarketCap estimates that the total cryptocurrency market cap is USD $1.77 trillion, equivalent to the 8th largest economy in the world and payments companies like Mastercard have announced they will begin supporting cryptocurrencies directly within their network.

Growing your digital piggy bank

Bamboo is an Australian micro-investing platform that allows anyone with a smartphone and bank account to easily purchase digital assets such as cryptocurrencies. Using transaction round-ups from daily expenses, the Bamboo app makes it easier to participate in growing asset classes over the long-term:

“We’re witnessing the greatest change in global financial markets in generations. With incremental micro investment, you can spread your investment and make sure you’re in the market when it counts but also protect your investments from volatility.”

Blake Cassidy, CEO @ Bamboo

Financial data for round-up investing

Using Basiq, Bamboo can instantly verify accounts to accelerate digital onboarding and mitigate fraud. Once a Bamboo user securely connects to their financial institution, Basiq is able to retrieve a complete list of accounts held with each institution along with their details and balances. The data is refreshed to provide ongoing visibility into a customer’s everyday transactions so Bamboo can automatically and seamlessly round-up everyday purchases to the nearest dollar and invest it on behalf of users into a diversified portfolio of assets.

Bamboo users can easily customise their roundups into a portfolio across tokens such as Bitcoin, Ethereum, Gold and Silver Standard. This includes automatic top-up and rebalancing based on risk appetite so users can simply set and forget.

“Ongoing connectivity to a user’s every day transactions lets us provide seamless roundups, reducing friction for an effortless way to build long-term ownership in digital currencies.”

Blake Cassidy, CEO @ Bamboo

Expanding crypto-investing into super and rewards

Bamboo is rapidly adding features and now lets users invest into digital currencies through their Self Managed Super Fund. Users can capitalise on high returns and growth and invest larger amounts with automated portfolio management. Bamboo will also be launching a rewards feature soon that will allow users to compound their returns and earn rewards on their digital assets.

“Despite current volatility we believe that digital currencies are the way of the future. At Bamboo, we’re constantly adding features that make it easier for users to participate in this future. We’ve been using Basiq since the beginning of our journey and Basiq’s commitment to innovation ensures we have a reliable partner to continually scale and grow our platform on.”

Blake Cassidy, CEO @ Bamboo

To start investing in digital currencies, head to the Bamboo website – they’ve just rebranded!

To learn more about how Basiq enables ongoing and real-time account verification and funds pre-checks, head to the Basiq website.

Article Sources

Basiq mandates its writers to leverage primary sources such as internal data, industry research, white papers, and government data for their content. They also consult with industry professionals for added insights. Rigorous research, review, and fact-checking processes are employed to uphold accuracy and ethical standards, while valuing reader engagement and adopting inclusive language. Continuous updates are made to reflect current financial technology trends. You can delve into the principles we adhere to for ensuring reliable, actionable content in our editorial policy.