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.
— 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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