Above: Cred lets you micro-invest in cryptocurrencies from an app. Cred is launching a mobile app that allows people to invest small amounts of money in cryptocurrencies.
The iOS and Android app is aimed at solving problems around access and transparency associated with buying cryptocurrencies. Santa Monica, California-based Cred said it has created a “micro-investing” platform to ease access to cryptocurrencies, which have become a hot (and sometimes cold) commodity as people seek to replace cash in the digital era.
With the Cred app, investors can round up the amount they spend on everyday purchases to the nearest $1, $2 or $5 and invest the extra money in cryptocurrency. For example, if an investor who rounds up to the nearest $1 spends $3.55 on an iced coffee, the Cred platform will automatically invest 45 cents in cryptocurrency.
Cred founder Brendon McQueen believes that consumers often feel intimidated when looking to invest in cryptocurrency, due to a lack of education about the industry, confusing product offerings, and reluctance to trust crypto offerings. The company believes it is uniquely positioned to address these issues by offering an easy-to-use platform that allows users to invest in cryptocurrency, track their progress, learn about each coin prior to investing, and receive daily market recaps and news updates.
For its initial rollout, Cred is launching in California, Missouri, Massachusetts, and Montana, with more states being introduced in the coming months. About 69 percent of people in the U.S. expect the price of Bitcoin to rise in the next five years, but only 5 percent own Bitcoin, according to a Global Blockchain Business Council survey of 5,000 respondents. Read more from venturebeat.com…
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