Amber is an Australian-based Bitcoin accumulation app that spawned an entire generation of DCA products around the world.
We make it easy to Dollar Cost Average (DCA), auto-buy-the-dip, auto-withdraw, and accumulate the hardest money, scarcest asset on Earth.
500 users, 35% MoM growth, which is also accelerating.
$5m in Bitcoin purchased through the app Over the past 18mths, 80% of which was completed in the last 6mths.
We are really starting to scale up now.
Problem or Opportunity
More than 10 years since its launch Bitcoin is not only the best performing asset in history, but is well on its way to becoming the most reliable, global money ever. Its immunity from inflation and the shenanigans of the fiat currency economy has been validated by not only the likes of legendary billionaire hedge fund managers like Paul Tudor Jones & Stanley Druckenmiller, but also by its inclusion on the balance sheet of a number of major publicly listed companies, most notably Microstrategy ($MSTR) who took $425m of cold hard cash and bought Bitcoin and Square ($SQ) who followed suit less than 2mths later with a cool $50m (you see the full list of publicly traded companies holding Bitcoin here) With Amber, YOU can accumulate Bitcoin alongside both these giants of industry and your friends, your family and everyone else. Back in 2014, 2015 and 2016, it was hard to buy Bitcoin. With Amber, that’s changed. This is why we set out to build it, and after almost 2yrs of working on this product we believe it’s the best on the market. Whether you’re after simplicity and automation (go Amber Basic, it’s free), or smarter, more sophisticated features with better rates (upgrade to Amber Black), we have you covered. Amber is Backed by a Major Australian University (QUT) and a series of incredible investors, including Morgan Creek Capital and Fulgur Ventures.
Solution (product or service)
I'd recommend having a look at our product hunt page here:
The closest are apps like CashApp (owned by Square), and Swan Bitcoin.
I don't consider Coinbase or Kraken and other exchanges direct competitors
Advantages or differentiators
We're different because we're Bitcoin only, and can build depth in our product. We don't care about listing other coins, assets or currencies and in the process turning our application into another shitcoin casino.
1. Losing me as CEO is a risk, because it would definitely slow things down and the product probably lose a bit of its flair. We’ve made sure the business will not going to die if something happens to me though.
2. If Bitcoin’s bull run takes another few years to hit, it will be a cash drain for us. We’re a retail product so the retail rush that happens late stage in the market cycle is where we make 80% of our money. This late stage of the cycle is about 6mths of a 4yr cycle.
3. Not raising the Series A would slow us down too. We’ll be cash-flow break even by then, but without the extra capital, we won’t be able to capture market share as fast and it might mean the difference between selling for $20m VS $100m in the next few years.
Incubation/Acceleration programs accomplishment
Won the competition and other awards
4th Product of the Day, globally, on Product Hunt (4th December).
#1 at Finovate Dubai in 2019.