Coinflash | An App That Rounds Up Your Spare Change And Invests It Into Bitcoin and/or Ethereum

If you are familiar with Acorns app then Coinflash works on exactly the same basic concept: you link your credit to the app and every transaction you make is rounded up a little and then subsequently that "spare change" is gathered up and then deposited into an investment.

In Coinflash's case, your spare change is deposited into how much Bitcoin (BTC) or Ethereum (ETH) you want.

Coinbase's creator, Louis Lapat, explains his idea in a medium post.

I'm a little mad at myself for not foreseeing this easy switch to cryptocurrency investing as I can see certain people using the service.

While I don't use either Acorns or Coinflash, I like the concept because its like you are setting up an automatic investment plan.

However, like anything, this may not be a cool app for everyone, so please take note of the following:

• The extra spare change is an addition to your credit card bill. A user should make sure that the extra expense is integrated in their budget and afford to pay it off the credit card balance. If not, the interest rate on the extra expense will gobble up your profits.

• While the fee may seem low (a flat $1 fee), it could eat up to 8% of your investment if you don't add it to a credit card that you make a lot of transactions with.

What do you think of the idea?

Do you use Acorns or Coinflash? Will you use it now that you are aware of the services?

Let your comments be heard below.

Traversing the Cryptosphere,

Kryptonaut