Dmitri Love pitchedBundilan app that takes your spare change and invests in cryptocurrencyon Season 10 of Shark Tank. Cryptocurrency (Bitcoin, Ethereum, etc..) and the blockchain technology that powers it, has created new opportunities for investors, startups, and professionals in a variety of industries.
Musician and philanthropist, Akon created his own: Akoin.PatientoryCEO Chrissa McFarlane raised millions for her blockchain startup with an Initial Coin Offering (ICO), and online communities like Wacoinda have developed to share news and financial information about the cryptocurrency market. Knowledge is power but wading through the deluge of news about digital assets can make investing in the speculative asset class daunting.
Thats why Dmitri Love created Bundil, to make it easier for everyday investors to add cryptocurrency to their portfolio. After his appearance on Shark Tank, Black Enterprise contributor Brandon Andrews sat down with Love for an interview about the show and his business.
BUNDIL CEO Dmitri Love on Shark Tank (ABC/Eric McCandless)
Give us a quick overview of the crypto landscape. What is it and how does it work?
Thats a pretty loaded question. The crypto world is an ever-evolving space filled with prowess and ingenuity.Lets start with bitcoins because they are so well known. Bitcoin is like regular money and in a small way, stocks.Its like money in that it has value and you can use it to buy goods and services. Its also like stock because the value fluctuates based on supply and demand. Bitcoin operates on technology called blockchain. Other crypto, like Ethereum, are using that same blockchain technology to allow people to rent out (and make money with) part of their computing power when they arent using it. Its an exciting space thats still in its infancy.
Why should I invest my spare change in crypto instead of saving it or using it for another opportunity?
You should do both! We always advocate diversifying your portfolio. Save some, invest some, repeat. We are actually in the works of adding a savings feature to our platform in coming weeks.
How did you build the Bundil app? What was your biggest challenge in the development process?
Well, lots of code and late nights, haha. We knew who we wanted to help build the system. I had some software friends in my hometown of Fayetteville, Arkansas, who are absolutely brilliant. I cant express enough how much we value them and what they have done for Bundil. The biggest challenge for us was mitigating risk management in the roundup investment process. We knew traditional roundups may provide poor monthly investments for those who dont use their debit/credit cards often enough. We came up with the idea to add different round-up options so users can choose how much to round up based on their spending habits.
Bundil App (enjoybundil.com)
You appeared on Season 10 of Shark Tank! How did you connect with the show? Tell us the story.
Its actually pretty crazy. We were contacted by a Shark Tank producer within two days of launching the initial iOS app back in April. My co-founder and I didnt believe it at first, but after doing some research we learned that it was real. We were asked to send in a pitch video and shortly after I was flown out to LA to film. Its still a little surreal.
You took the Sharks to crypto school, with a chalkboard and everything, how was that experience?
Comfortable. I thought I would be intimidated pitching our tiny startup to the Sharks, but once the pitch started, I felt like I was educating and explaining my business just like I would to anyone else. I used the chalkboard to show how complicated investing in Bitcoin and other crypto can be without using the Bundil app. I felt comfortable throughout the interaction.
Give us an update, what have you been working on since being on the show?
Weve been working on scaling up and adding new features. We know that Bundils an amazing tool for the old and new members of the crypto community and we want to make sure we exceed our users expectations.
BUNDIL CEO Dmtri Love on Shark Tank (ABC/Eric McCandless)
How do you plan to grow the business in 2018 and beyond?
The exposure from the show is going to give us great visibility, which is a good start. We want to show the world that crypto is nothing to be afraid of. I think our efforts in providing a secure, safe, and easy platform to invest in crypto will speak for itself. We also plan to continue engaging the investment community. In the coming weeks, we will provide other features to skyrocket their portfolios, and show them that investing is fun!
Why should African Americans be interested in crypto? Are their specific opportunities for black investors?
There are definitely opportunities for black investors. I think a lot of African Americans feel intimidated by investing in crypto or any other asset, because we often dont have the same financial opportunities. We want to bridge that gap with Bundil. We also want to empower black investors with knowledge. You can invest no matter your background or economic status. Thats the core of why we built Bundil. To engage the people that dont know where to start, and provide an easy and fun way to participate. No matter where theyre from, what their economic status is, or what they look like.
Brandon Andrews is a senior consultant at Values Partnerships. He leads a nationwide casting tour for ABC’s Shark Tank. He writes about business, politics, and crowdfunding. Website – http://www.brandonandrews.me Twitter – http://www.twitter.com/brandontalk IG – http://www.instagram.com/yesbrandon Facebook – http://www.facebook.com/mr.brandonandrews Snap – @brandontalk
Read more from the original source:
Invest in Cryptocurrency With Spare Change – Black Enterprise
- Fidelity Said to Offer Cryptocurrency Trading Within a Few ... - May 10th, 2019
- Is This Cryptocurrency The Next Bitcoin? - forbes.com - April 28th, 2019
- Cryptocurrency Definition | Bankrate.com - April 26th, 2019
- Samsung is developing its own blockchain network, report claims - April 26th, 2019
- 2019s best cryptocurrency wallets | 70+ compared | finder.com - April 26th, 2019
- What is cryptocurrency? - Definition from WhatIs.com - April 25th, 2019
- A Beginner's Guide to Cryptocoin Mining: What You Need to ... - April 25th, 2019
- How Cryptocurrency Assets Are Becoming A New Battleground In ... - April 21st, 2019
- What is Cryptocurrency: Cryptocurrency Explained the Easy Way - April 13th, 2019
- How to trade cryptocurrency in the UK - finance.yahoo.com - April 8th, 2019
- Cryptocurrency Trading | TD Ameritrade - April 8th, 2019
- Cryptocurrency Prices, Charts, and Market Cap Data - UNHASHED - April 8th, 2019
- Blow To Bitcoin As World's Largest Cryptocurrency IPO Is Iced - April 2nd, 2019
- How and where do I report Cryptocurrency coin-to-coin ... - March 22nd, 2019
- Hundreds of Millions in Cryptocurrency Vanishes After ... - March 11th, 2019
- Fidelity's new cryptocurrency company is up and running ... - March 9th, 2019
- JPMorgan is creating its own cryptocurrency - CNN - March 6th, 2019
- Cryptocurrency Exchange Says It Can't Access $190 Million ... - February 5th, 2019
- What's the Best Cryptocurrency to Invest in Today? - January 9th, 2019
- Cryptocurrency Trading Easy tips to get started | AvaTrade - January 9th, 2019
- Thailand Issues 4 Cryptocurrency Licenses, Rejects 2 ... - January 9th, 2019
- NASDAQ, Fidelity Invest in New Cryptocurrency Exchange ... - January 9th, 2019
- Cryptocurrency News | Cryptocurrency News | Blockchain ... - January 9th, 2019
- Differences Between Cryptocurrency Coins and Tokens - January 9th, 2019
- Cryptocurrency Charts - January 8th, 2019
- What is cryptocurrency? - cointelegraph.com - January 4th, 2019
- Blockchain Will Survive A Cryptocurrency Apocalypse - January 1st, 2019
- Cryptocurrency - Simple English Wikipedia, the free encyclopedia - December 25th, 2018
- Is Cryptocurrency Dead for Good? | Investopedia - December 6th, 2018
- Cryptocurrency scammers dupe Singaporeans out of $78,000 in ... - December 6th, 2018
- What is Mining Cryptocurrency? What you need to know... - November 26th, 2018
- Saudi Arabia Will Launch Its Own Cryptocurrency in 2019 ... - November 23rd, 2018
- Bitcoin and Other Cryptocurrency Prices Are Crashing Again ... - November 17th, 2018
- Homepage - Cryptocurrency Army - November 14th, 2018
- Cryptocurrency - Simple English Wikipedia, the free ... - November 14th, 2018
- How To Create Your Own Cryptocurrency - fastcompany.com - November 14th, 2018
- Cryptocurrency price plunge worse than bursting of dotcom ... - September 18th, 2018
- Iran, North Korea and Venezuela turning to cryptocurrency ... - September 12th, 2018
- SEC halts trading in two cryptocurrency products, citing ... - September 12th, 2018
- Cryptocurrency News, ICO Reviews & Blockchain Updates ... - September 9th, 2018
- Cryptocurrency "miners," utilities look for ways to get along ... - August 29th, 2018
- Cryptocurrency: Virtual money, real power, and the fight ... - August 28th, 2018
- Pornhub Now Accepts PumaPay Cryptocurrency - August 27th, 2018
- NK hackers target Mac users with trojan cryptocurrency app ... - August 27th, 2018
- Cryptocurrency: The unlucky investors who got in at the wrong ... - August 26th, 2018
- cryptocurrency coins Archives - The Industry Spread - August 26th, 2018
- cryptocurrency Archives - Page 6 of 6 - The Industry Spread - August 26th, 2018
- Cryptocurrency investment in SMSF - hallandwilcox.com.au - August 26th, 2018
- How To Choose The Best Cryptocurrency Wallet - Crypto News AU - August 26th, 2018
- Courses | Cryptocurrency Australia - August 26th, 2018
- What Every Investor Should Know Before Buying Cryptocurrency ... - August 26th, 2018
- The biggest cryptocurrency hack in the history of blockchain - August 26th, 2018
- After the Bitcoin Boom: Hard Lessons for Cryptocurrency ... - August 21st, 2018
- Cryptocurrency Rankings | CryptoSlate - August 14th, 2018
- Bitcoin price falls after SEC postpones key ETF decision - August 12th, 2018
- Brokers Cryptocurrency Deals Are Focus of SEC Review ... - August 7th, 2018
- 7 Cryptocurrency Predictions for the Rest of 2018 - August 7th, 2018
- Have a Cryptocurrency Company? Bermuda, Malta or Gibraltar ... - July 31st, 2018
- Bitcoin price live: Latest updates as cryptocurrency ... - July 22nd, 2018
- 2018 Bahamas Blockchain & Cryptocurrency Conference - July 16th, 2018
- Best Cryptocurrency Trading Platform 2018 | Top Crypto ... - July 13th, 2018
- Cryptocurrency: Advantages And Disadvantages Explained - July 12th, 2018
- ATB Coin - The fastest and most secure payment system - June 19th, 2018
- An Illustrated Glossary of Cryptocurrency Slang (Infographic) - June 19th, 2018
- Apollo All-in-One Cryptocurrency - June 3rd, 2018
- Cryptocurrency News, ICO Database, Coin Rankings and ... - May 25th, 2018
- CoinLib - Cryptocurrency prices now - May 21st, 2018
- Cryptocurrency Market Capitalizations | CoinMarketCap - May 4th, 2018
- CryptoCurrency Market , Coin Prices & Charts, Crypto ... - April 28th, 2018
- Nasdaq open to cryptocurrency exchange in future, says CEO - April 27th, 2018
- The 4 Top Cryptocurrency Mining Stocks -- The Motley Fool - April 27th, 2018
- One in five financial institutions consider cryptocurrency ... - April 27th, 2018
- New hacks siphon private cryptocurrency keys from ... - April 27th, 2018
- What Is Cryptocurrency? - dummies - April 21st, 2018
- Cryptocurrency Market Surges to $365 Billion, Start of a ... - April 21st, 2018
- BTCMANAGER | Bitcoin, Blockchain & Cryptocurrency News - April 16th, 2018
- How to keep your cryptocurrency safe - CNET - April 11th, 2018
- How do I report Cryptocurrency Mining income? - TurboTax ... - April 4th, 2018
- When do you report Cryptocurrency investments? - TurboTax ... - April 4th, 2018
- Trading Cryptocurrency in 2018: The Definitive Guide - March 14th, 2018