Simplified crypto portfolio app hopes to attract new users to the space by targeting investors with as little as $25.
A new cryptocurrency investment and portfolio management app for Android and iOS promises to lower both the technological and financial barriers to entry for new investors.
Launched May 7, B21 Invest allows users to easily create and manage their own portfolio of cryptocurrencies with a minimum fiat deposit of just $25. Coins can be purchased through the app using either bank transfer or card payment.
Investing in multiple cryptocurrencies, made easy
Once funds are deposited onto the platform, they can be used to buy individual assets or be split across a user-defined portfolio. Balances can be adjusted through the app’s dashboard, and individual assets can be sold and traded at will. B21 Founder, Nitin Agarwal, explained that the company’s mission is:
To bring digital asset investing to the mainstream, so everyone can participate in the potential returns without having to deal with the complex technology typically associated with digital and crypto asset investments.
Consequently, the app is available across 65 countries and in six languages.
The small print
Withdrawals, to a minimum value of $25, can be made for free via ACH bank transfer within the United States. They can also be made via domestic or international wire transfer, although this will incur a fee.
Planned future developments include the introduction of a debit card, to which funds can be transferred and spent, and the possibility to stake assets and gain interest through DeFi services.
Although the B21 Invest app does provide a smoother onramp for those who may previously have been deterred from investing in digital assets, the flipside of this is that it is a full custodial service. This will not appeal to those who demand full control of their private keys and wallets, although that isn’t really who it is aimed at.
Agarwal told Cointelegraph that he expects about 90% of users to be first time cryptocurrency investors, but that the app also has something to offer to those who already hold digital assets.
Even existing investors can find it complicated to invest using exchanges. Exchanges are meant for traders while non custodial wallets are meant for tech savvy people who want to hold on to their keys. B21 is largely focussed towards the people who want to invest but not worry about managing keys or get lost in the complicated experience of the exchanges.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.
Recommended Content
Editors’ Picks
Prisma price tanks 25% after nearly $9 million exploit
Prisma Finance (PRISMA) is being exploited, and the attacker has so far pulled $9 million in Ethereum from the borrowing protocol. Prisma asked vault owners to take the necessary steps to protect funds from the ongoing attack in an official tweet on X.
Meme coins gain traction after SEC’s partial win in Coinbase lawsuit: DOGE, SHIB, BRETT, POPCAT, BODEN
US SEC pocketed a partial win in its lawsuit against Coinbase, ushering a correction in crypto prices on Thursday. Despite the broad pullback, prices of meme coins like Dogecoin, Shiba Inu and Solana-based BRETT, POPCAT and BODEN increased.
Ondo moves $95 million worth of OUSG assets to BUIDL as tokenized fund attracts $245 million since debut
Ondo Finance (ONDO) announced on Wednesday that it's shifting about $95 million worth of its OUSG's underlying assets to the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).
XRP price stuck below $0.65 resistance, Ripple lawsuit could suffer from Coinbase defeat
XRP price falls slightly to $0.61 on Thursday after its landmark programmatic sales ruling in July, which gave Ripple a partial victory against the US SEC, failed to reverberate in a similar legal battle between the regulator and crypto exchange Coinbase.
Bitcoin: BTC may have recovered, but is it out of the woods?
Bitcoin’s (BTC) upward momentum has shown a significant decline for the past two weeks or so. This development led to a bearish signal on the weekly and an uncertain outlook on the monthly.