Cryptocurrency Micro-Investing App Cred Launches Rollout
July 31, 2018 by William Peaster
The latest micro-investing app to hit the cryptocurrency scene is Cred, which launched today, July 31st, in the Google Play store and Apple’s App Store.
A bid to put crypto into the hands of everyday folks, the app will allow users to round up regular purchases for investing the difference in popular cryptocurrencies. Cred CEO and founder Brendon McQueen told Bitsonline “[i]n the short term, we’ll be focusing on evaluating our next coin partners.”
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Rounding Up to Make Crypto Investing Automatic
The micro-investing Cred app, now live for Android and iOS users, is aiming to make cryptocurrency investing easier and more inexpensive — a response to conventional mainstream concerns that getting into crypto is complicated and more suited to deep-pocketed investors.
The app is set to facilitate crypto purchases via three options: users can resort to the more familiar one-time purchase or recurring purchase routes, or they can activate Cred’s round-up feature, which will allow purchases to be rounded up “to the nearest$1, $2 or $5″ to skim toward crypto micro-investments.
The idea, of course, is that lots of small investments can be saved up over time.
The app’s inaugurally supported cryptocurrencies include the following 13 digital assets:
- Bitcoin Cash
To begin with, Cred will be available for users in California, Massachusetts, Missouri, and Montana, though the company has declared its expectations for expansion in the weeks ahead.
Toward ‘Bringing Crypto to the Masses,’ Says Cred CEO McQueen
Commenting on the app’s launch, Cred CEO and founder Brendon McQueen said his team was gunning to tackle what they had hitherto seen as an “obvious gap” in the space:
“There’s an obvious gap in the market: people aren’t investing in cryptocurrency because they think it’s too complicated and complex.
Cred creates a tangible space for people to take advantage of cryptocurrency at any level of experience without having to be an expert.”
When asked about what’s next for the company from here, McQueen told Bitsonline that preparatory work for supporting new coins on the app was nigh:
“We remain focused on providing a great user experience to our customers and making it super simple for newcomers to access crypto.
In the short term, we’ll be focusing on evaluating our next coin partners and expanding our reach from a geographical perspective.”
Of course, while lots of institutional developments catering toward massive firms have been actualizing in the cryptosphere as of late, the “little guy” — everyday folks — shouldn’t be lost in the conversation.
Through micro-investing, then, the Cred team is hoping to flesh out the other end of the spectrum across from institutional investments in order to help drive crypto adoption among the masses.
It’ll be a dynamic to keep an eye on going forward.
What’s your take? Do you think micro-investing apps can bring in new crypto users?
Will crypto micro-investing apps like Bamboo & Robinhood take cryptocurrency mainstream?
Let us know in the comments section below.
Images via Cred, Pixabay
The author and Bitsonline team do not endorse any service or encourage readers to invest in any specific asset. Please do your own research before you purchase any cryptocurrency, token, or other digital product, or if you sign up for any related service.
Never invest more than you are prepared to lose.
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Tagged With: AndroidBrendon McQueenCredcryptocurrency investingiOSMicro Investing
About William Peaster
Peaster is a poet, novelist, and cryptocurrency editor.
He is not a financial adviser. He enjoys covering both the promise and warts of the emerging cryptoeconomy.
Follow him on Twitter: @WPeaster