Bitcoin Millionaire Erik Finman Launches Coinbits Crypto Micro-Investment App to ‘Set it and Forget It’
A 20-year old wunderkind, Erik Finman, launched a new app that will revolutionize the world of crypto, according to him. He happens to be amongst the youngest BTC millionaires in the world. Erik said that the app would make it easy for ordinary people to ramp into the crypto world.
Finman Hopes To Grow BTC Adoption
Finman is hoping that he can increase the adoption of BTC. In a Cheddar interview to mark the launch of the app, he said that it would solve one of the three major issues with BT today. This was the fact that it was hard for ordinary people to access the crypto world. Erik said that this app would make possible for people to take their first dip into crypto.
The app will use an investment technique that is known as dollar-cost averaging. It is where your daily purchases are tracked and payments rounded up to the nearest dollar. The change is then invested in BTC.
This app will work just like the Lawnmower app from four years back. It was before the company changed into a comprehensive trading and research lab. Another app that had similar properties was the Dust app of 2017. Yet another one was the Bundil app of 2018. Bundil was so good that Kevin O’Leary, a renowned crypto-phobic man, and TV Shark invested $100,000.
Finman had Given Up On Bitcoin
In December 2018, Finman had concluded that BTC was dead. He told MarketWatch that BTC was too fragmented and that the infighting was too much. Finman said that BTC might have one or two bulls left but in the long term, the con was dead. It would seem strange that he agrees to launch an app in the same area. However, the price of BTC has doubled since that time.
Besides that, he said that LTC had been dead for a while. Since then, LTC has kept rising and it has gained over 250%. Despite predicting the death of LTC and BTC, Finman was confident in his ability to beat the system. He opined that he was better at trading than Wall Street Bankers. Finman claimed they did not know how the system could be worked.
Besides rehashing a four-year-old concept, some wrong predictions, and a huge ego, Finman is also quite active on Instagram. He has numerous posts of him flexing his wealth. However, they usually end up making him look like a sad boy desperate to get some like. After a lot of backlashes, he claimed that it was satire although not many people believed him.
He even claimed that the app would cause a mini-bubble on the price of BTC. Finman started trading after his grandma gave him $1000 in 2001 at the age of 12. Having seen a BTC t-shirt during an Occupy Wall Street protest, he decided to buy BTC. The prices then shot up a few years later by over 1000 percent. It would be hard for him not to be a millionaire by now.