In the new episode of Shark Tank, Dmitri Love, the founder of a cryptocurrency related app Bundil pitched his business to the sharks Mark Cuban, Kevin O'Leary, Daymond John and Lori Greiner. Dmitri managed to lock in a $100,000 investment from Kevin O'Leary in exchange for fifty percent equity in Bundil becoming equal partners in the company.
Episode Highlights It was very exciting to see the famous sharks showing interest in a cryptocurrency related business. Dmitri explained his company Bundil which is an app that automatically invests your spare change into cryptocurrency. The app works by rounding up your purchases to the nearest dollar and investing the remaining change directly into cryptocurrency. For example, if you purchase a soda for 1.70 with a credit card, the Bundil app will then invest the change which is 0.30 cents directly into crypto. The app currently supports bitcoin, Ethereum, Bitcoin cash and Litecoin. Bundil makes money by charging a monthly fee of $2 to its users. It's a great way for everyday people to invest in crypto without going through any complicated steps. Not everyone has money to make investments but with Bundil you don't need a bunch of money to start, the app helps you save money and invest in crypto all at the same time. With Kevin O'Leary now being a 50% owner in the company, it's interesting to see where they will end up in the future.
Overview Without a doubt, occasions like these prove that there is still a great deal of interest in cryptocurrency. Although crypto prices declined overall this year, the cryptocurrency industry itself has made significant progress and crypto is becoming easier to use with the aid of new developments. As companies build new technology around cryptocurrency, it becomes more useful and valuable. Bundil isn't the only company helping the cryptocurrency industry lately. Recently, we have seen a number of projects and developments that improve the cryptocurrency network. Last week, we saw a new electric bicycle that accepts bitcoin and Litecoin payments for rental use. Also, a new bitcoin-friendly shopping app called Bitplaza just launched on iTunes and Google Play. The Bitplaza app allows users to spend bitcoin on everyday items and ships globally. It's exciting to see new projects catering to bitcoin users and demonstrating bitcoin as an actual currency. Although the cryptocurrency industry is still very young, the future looks very promising as new companies enter the space making cryptocurrency more convenient to use and easier to access.