Crypto and Web3 businesses are cropping up all over the place, but if you follow the space, you’ll notice there are not all that many businesses that are friendly to newcomers.
Most Web3 or crypto products require a complicated process of setting up a wallet, safely storing a cryptographic “seed phrase”, connecting that wallet to a website, and trusting your hard-earned money with a smart contract.
That might sound simple, but ensuring the safety of your funds is far from it. That’s too much for some and fair enough!
Here is a shortlist of 3 apps that use crypto or Web3 infrastructure that is easy to use.
The best crypto apis are the ones that make it easy to manage your money, get in on the latest trends, and make your life easier.
Bamboo
The Bamboo investment app is a great tool for “stacking stats”, squirreling small amounts away into a diversified portfolio of Bitcoin, Ethereum, and even tokenized crypto-assets which mirror the price of gold, and silver.
When you link your debit or credit card with Bamboo, it will track your purchases and round them up to the nearest $1 to invest in a crypto portfolio of your choice, so for every $3.50 you spend on a coffee, 50 cents will be put toward Bitcoin.
Bamboo users can also set a recurring deposit into their portfolio on top of the round-up feature, doubling down on the proven dollar cost averaging strategy for long-term investments.
If you’re an owner of a self-managed super fund and looking for exposure to crypto, Bamboo has a product for that too!
Blockearner
With the up and down of the crypto market, it makes sense to want a tiny bit of stability. Traditionally investors would set aside a portion of their investment portfolio for products that earn a stable and consistent yield such as bonds.
Well, even crypto has products like that now, and they earn a lot more than the traditional finance products, and the Blockearner app is just that product. With Blockearner, users deposit Australian Dollars and earn up to 7% a year, or up to 18% a year on a variable rate.
How does it work? Blockearner does the heavy lifting of sorting out the Web3 stuff for you, swapping your Aussie dollars for a USD stablecoin which is deposited into the DeFi lending protocols Aave or Compound Finance.
The USD stablecoin is then lent to borrowers, earning you a nice slice of the pie in the form of interest, which is compounded every day.
Blockearner is a great way to earn a consistent return whilst using Bamboo to grow a portfolio in the crypto market.
Celsius
What about if you’re needing to be on the other end of the rope? If you have a bit of crypto and are looking for a loan, Celsius is the go-to app for that.
Whilst Celsius also has a product to earn a yield, it’s really known as an easy way to quickly get a loan if you have a bit of crypto lying around.
Say you have an upcoming phone bill and you’re out of money for the month but have a few Bitcoin. How it works is that you would post collateral in the form of your Bitcoin, allowing you to instantly get cash to pay that bill.
As always, make sure to do your own research into any product you’re about to trust with your money and speak to a financial advisor before investing or borrowing money.
