The app was launched on May 7 allowing users to easily create and manage their own portfolio of cryptocurrencies with a minimum fiat deposit of just $25.
Coins can be purchased through the app using either bank transfer or even card payment. Once funds are deposited onto the platform, they can be used to buy individual assets or be split across a user-defined portfolio.
Balances can be adjusted through the app’s dashboard, and individual assets can be sold and traded at will.
B21 Founder, Nitin Agarwal, explains the company’s mission:
“To bring digital asset investing to the mainstream, so everyone can participate in the potential returns without having to deal with the complex technology typically associated with digital and crypto asset investments.”
The app is currently available across 65 countries and in six languages.
Planned future developments includes the introduction of a debit card where funds can be transferred and spent, and the possibility to stake assets and gain interest through DeFi services.
Agarwal says that he expects about 90% of users to be first time cryptocurrency investors, but that the app also offers to those who already hold digital assets:
“Even existing investors can find it complicated to invest using exchanges. Exchanges are meant for traders while non custodial wallets are meant for tech savvy people who want to hold on to their keys. B21 is largely focussed towards the people who want to invest but not worry about managing keys or get lost in the complicated experience of the exchanges.”