Category Archives: Erik Finman

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Bitcoin Wonderchild Launches Crypto Investment App

Bitcoin Wonderchild Launches Crypto Investment App

Erik Finman, nicknamed the Wunderkind, has just launched a new application that he claims will change the way people invest in cryptocurrency, according to an interview with Cheddar.

Finman made his fame and fortune as a teenager, when he was one of the earliest investors into Bitcoin. Before he turned 18, he was already a Bitcoin millionaire. His now legendary story of how, when he was 12, he invested his grandfather’s USD 1,000 gift into Bitcoin (worth USD 10 at the time) continues to inspire others the world over.

CoinBits: Bitcoin investing on autopilot https://t.co/ayg7I8Z26k pic.twitter.com/3GtoPUEiSa

— ERIK FIN (@erikfinman) May 23, 2019

The boy wonder hasn’t splurged his wealth, as it turns out. Instead he has created Coinbits, a new app that uses dollar-cost averaging strategy to help people invest into Bitcoin. The strategy is touted by many as a simple yet effective means to ensure consistent Bitcoin accumulation for the average investor.

With Coinbits, users don’t even need to do anything as their daily purchases will simply be rounded up to the nearest dollar, with the change automatically used to buy fractions of Bitcoin.This micro-investment solution, according to Finman, solves one of the huge hurdles of crypto market entry: that’s it’s still too complicated:

“This just allows people to get their feet wet, and that’s the most important thing.”

Finman is obviously a huge believer of Bitcoin but says that today, its best use is still as “digital gold” for emergencies like what was happening in Venezuela amid a collapsing economy:

“I think it’s better as a hedge against bad things happening in the world.”

 

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Erik Finman a Bitcoin Millionaire Before the Age of 18

Erik Finman is a self-made millionaire thanks to Bitcoin. He first invested in Bitcoin back in 2011 when he was 12 years old with USD 1,000 given to him by his grandmother. At the time, Bitcoin was priced near USD 10.

Although it turned out to be a very good investment, most people at the time would have called it extremely risky. In 2011, there were very few people willing to put any money into the unproven cryptocurrency, thinking it had no intrinsic value and nothing to back its value.

The past decade’s experience now shows that part of the intrinsic value of Bitcoin is that it is relatively anonymous, cryptographically secure, and can be used to send money anywhere in the world instantly to buy anything, without having to rely on an intermediary. This led to an unprecedented Bitcoin price rally; within a few years of Erik Finman’s investment, Bitcoin exceeded USD 1,000 per coin.

He sold most of his Bitcoins for USD 100,000 at the age of 15, using the money to start a tutoring business called Botangle that connects students to teachers via video chat. He started this business because he had a poor schooling experience, claiming he was ridiculed for his success by students and teachers.

A buyer then offered to purchase Botangle’s technology for USD 100,000 or BTC 300. This was back in 2015 when Bitcoin hit lows near USD 200. He chose Bitcoin again and ended up making yet another good business move. Bitcoin is worth over USD 6,000 as of this writing, having went as high as USD 20,000 in December 2017.

In total, Erik Finman had about BTC 400 and by June 2017 this was already worth over USD 1 million. Bitcoin had turned him into a millionaire before reaching adulthood.

Cash so worthless compared to Bitcoin I’m sleeping on it…

A post shared by ERIK FINMAN (@erikfinman) on

Finman won a bet he made with parents, allowing him to skip college if he became a millionaire before turning 18. He has recommended browsing the internet over a formal education. His Twitter and Instagram feeds are filled with pictures of him flaunting his wealth but he claims to do this to garner more attention.

Fortunately, Erik Finman isn’t wasting all of his time on social media. Instead, he is using his money for projects in the robotics and space industries.

 

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