Cryptocurrency app Bamboo’s case study of millenial, Jesse Coghlan

Spending his days enjoying the beautiful beaches of Sydney, completing Jiu Jitsu training and working in marketing, 25-year-old Jesse Coghlan strikes you as your average Aussie millennial.

However, like others of his generation, curiosity, research and simplified tech platforms have led Jesse on a path to investing and, eventually, cryptocurrency.

Genesis of Jesse Coghlan’s investment journey

Growing up in the rural town of Wilton, around 80km south-west of Sydney, Jesse had very little awareness or understanding of investing.

“When I was a kid, my parents told me to save money and buy a house because it was a good investment… but Sydney is the most unaffordable market in the world!”

“To me, investing seemed like something for the super wealthy.”

Jesse initially discovered Acorns, now known as Raiz, a platform that makes investing easier and more accessible to younger generations wanting to create capital wealth.

Being new to the game, Jesse initially felt overwhelmed with information about the markets and found the high costs were a huge barrier. In the past few years, he’s become more serious about investing, buying ETFs and investing in companies like Tesla and Virgin Galactic.

Jesse Coghlan’s crypto experience with Bamboo

After testing out various platforms, he became more interested in cryptocurrency and eventually discovered Bamboo through an old, high school friend who recommended the app.

Bamboo allows Jesse to seamlessly purchase digital assets in a familiar and accessible way. “It’s honestly been the easiest option for me, and I don’t have to think about it.”

Jesse is exposed to crypto without worry about the price or when to buy as Bamboo uses automated investments taken off his paycheck and places them into his chosen portfolio.

Jesse uses Bamboo and has recurring monthly payments of $300 plus round ups going into his account. He is investing in traditional markets like Spaceship, American stocks and ETFs.

“70% of my tax returns will go to Bamboo with DCA and increasing contributions over a period of time, and the other 30% will probably be used in traditional ETFs and companies.”

For most millennials, their understanding of crypto is that it’s an effective way to gain wealth, which suits Jesse’s long-term goal of buying an investment property interstate.

“Housing and other traditional systems of investing have become so unattainable and unrealistic for my generation to generate wealth.”

Besides accessibility, there’s also the disruptive technology aspect which appeals to Jesse who, having previously worked in IT and cybersecurity, has seen the growing demand and implementation for blockchain technology in user-authentication.

“I’m no guru – but I believe crypto presents a massive disruption to how people believe currencies need to behave or who controls them – and that’s fantastic!”

“There’s a decentralisation aspect to it which is incredible for so many applications… I believe anything that’s monopolised ends up being terrible.”

Apps like Bamboo make investing in cryptocurrencies easier for young would-be investors looking to find an easy, secure, and effective way to participate in this growing asset class.

“It’s an awesome opportunity for young people to generate wealth for themselves.”

And to think, all they need is a smartphone and bank account to get started.