2021 January Update
The Bamboo team would like to wish everyone a happy New Year and what a start to 2021 it has been. We have seen increased institutional investment and fantastic market momentum. Our users are continuing to dollar-cost average which is allowing them to benefit from the market conditions.
This month we’ve been focusing on the promotion of the platform as well as releasing some strongly requested features and enhancements in the App. As well as this, we recently released an article on Dollar Cost Averaging which you can see here.
We’re also seeing much stronger interest in Silver which is due to the short squeeze currently driven by the Reddit Group: Wall St Bets. Zero Hedge provides an article outlining the situation here. Bamboo provides a quick and easy on-ramp for Siler where user’s can gain access in around 90 seconds.
Last week we were endorsed by Alex Saunder’s from Nuggets News. Alex is a trusted voice in the Australian crypto community, and with that, we are glad to be featured on his recent Youtube video where he talks about Bitcoin 2021 Price Prediction & Forecast. Alex is working on a walk-through of the App for those that want to learn more about the features and functionality
To check the Youtube video, please click the link here.
Round-up Meter 💥
Bamboo now lets you select the minimum amount that we debit from your account for round-ups. Users have requested this for some time as it allows for the reduction of fees in percentage terms.
The default round-up threshold is $50, but now user’s can increase this up to $200. When the total of your Round-Ups exceeds the selected amount we will direct debit the payment and invest the fund on your behalf.
Things to consider when using the feature include:
- The smaller the amount, the more frequently we debit your account and the higher the round-up amount, the less frequently we’ll debit.
- If you increase the Round-Up meter, the fees as a percentage of your investment will be less. This is because our simple structure fee — when the amount is less than or equal to $100, the fee is $1.49 (between 1.5% and 3.0%), when it is more than $100 but less than or equal to $250, the fee is $2.49 (1.0% and 2.49%).
We recommend you not setting your Round-Up Meter at $100 as this will incur a $2.48 fee whereas setting it at $99 will incur a $1.49 fee only. It is not practical for you to set the Round-Up Meter between $100 and $166 as the percentage fee is higher than at $99.
Improved Onboarding Process 🎯
This week we released a new version of the Bamboo App that provides more information to our users about security and privacy. As well as this we have improved the flow and ease of signing up to the platform. We will be releasing a dedicated article on some of the improvements and information in the coming weeks. This will cover topics such as:
What are we working on? 💰
We will be building out the ability for users to rebalance their portfolios which will also include the listing of a stable coin so that user’s can hedge out of the market.
We’re incredibly excited about the flexibility that these features offer and look forward to releasing them in due course.
Stay tuned, we have many more updates coming 🚀