Thanks a lot for actively participating in the B21 AMA held on 24th December 2020 at the Game of Bitcoins Channel. We really appreciate all your support. This post is a recap of the entire session held with B21

We have with us Nitin Agarwal

I am Nitin Agarwal.  I am the co-founder of B21 - a crypto investing platform.  We are the gateway to crypto and Defi to millions of users.   I have been in payments space for 15 years and have experience in Banking, Payments and Crypto.  Worked in Banks, PayPal and Wave Crest.  

Our last project was a crypto linked debit card aka bitcoin debit card where we had over 1Mn users and over 2 Billion in yearly volume.

I have been in crypto since 2013

and have had a product in crypto since 2014

I am a product Builder by heart ...

Gary - I also understand that B21 has been in development for quite some time now and you took the time to develop it first rather than rush ahead with just the Whitepaper. Can you please talk about this approach and the product itself

This is correct.

We have been working since 2018 and started with raising some money from friends and family.  Built the product, got licenses and started gaining customers.  We are now working to get more and more users on the platform and also increase utility of our token $B21

When we started a lot of the projects started in crypto space.  Many of them have closed down.  But our vision keeps driving us and we are very passionate on our product !!!

Q1. The B21 Token is an Ethereum-based ERC20 Token that forms the basis of all transactions, fees and rewards on the B21 mobile app. Ethereum gas price is very high for now, How can the B21 token move to solve this? Will B21 adopt technology from TRC20 in order to provide low cost?

Well.  This is a very interesting question. While we do see gas prices high but we are also not sure of TRC20 is the right platform to go to. As of now we will want to stay with ERC 20 and then see in coming days how things progress on TRC20. Thats the roadmap for now .  🙏

Q2. What are the ways that B21 generates profits/revenue to maintain your project and what is its revenue model? How can it make benefit win-win to both investor and your project?

I like this question.  It is all about revenues and users in a good product.  

B21 generates revenue by charging a small spread when users buy or sell crypto  B21 also generates profits from staking and also debit cards.  Part of the profits from cards is used to buy back the tokens from the market - thereby decreasing the supply of tokens in the market.

Overview : B21 Invest makes investing in crypto assets easy for anyone

Mission: B21 Invest is focused on bringing crypto asset investing mainstream with a focus on retail investors. 

Exchanges and other platforms make the process of investing into crypto assets complicated for mainstream investors.

B21 offers an easy to use mobile app that enables users to create their own customised portfolio of crypto assets and to make  investments using their credit/debit cards, bank transfers or local payment methods. It also offers an interactive dashboard that monitors portfolio performance in real time. B21 Invest also simplified earning passive income through Defi, with our simple on/off button to stake or unstake assets.

B21 Invest has also made withdrawals easy and can be processed directly to users bank accounts or to a B21 crypto linked payment card.

We are bringing the next 100Mn users to crypto!

The multi-coin, multi-exchange trade engine connects to multiple exchanges and finds the best price to execute the trade. We also bring staking of the full portfolio to earn rewards / passive income.

let me share a LIVE dashboard screenshot from the app to show what we do

This is what B21 is all about.  INVEST, EARN and SPEND

Q3. What is the long-term vision of this project really? is it simply to establish a totally simple investment system that allows to connect the DeFi world with the centralized one? or is there much more to it?

Our most ambitious goal is to become one stop shop for all investments for retail customers.  We start with crypto and go to other assets including global equities.  To start with we want to bring power of crypto and DeFi in the hands of 100s of millions of people

Q4. I Read about a VIP account within B21, what are the requirements to become a VIP member?And What exclusive benefits do VIP members receive?

1.  Hold 300 tokens and you can become VIP

2.  Benefits - reduced fees and access to premium features like premium cards, higher rewards and many more premium features

Q5. Could you give us a little more detail about the "Variable Income" that will be available soon in B21? Will it be required to invest $ 25 more with it?

We are launching our "Earn" also known as Staking feature in the app.  This means anyone can stake their coins or entire portfolio to earn rewards ( interest ).

Yes they can invest minimum of $25 and start and stake one coin or full portfolio.

This makes it easy to earn "passive income"

Q6. After selecting the% of performance in each of the tokens that I want in B21, can I modify it as I want daily without having to cancel operations? or would I have to pay many more commissions

Yes you can modify it anytime.  You can also easily manage your portfolio easily. You can invest in the portfolio easily and also earn rewards ( staking ) every week and the staking of coins can also be modified anytime 🙏.

Q7. 1) Sadly, majority of crypto projects out there are developed for the sole purpose of amassing wealth and most people buy into DEFI for just the high yields. In a few sentences, what's that unique value/contribution that B21 brings to the crypto space?

2) What kind of partnerships can we expect from B21 going forward? Could you give us any instance of how other projects can leverage B21 for their needs?

Well said.  

The simple point about we have a product first shows us to be serious about our vision.  We are fintech company in crypto.  We are focussed on user growth and revenues.  

In terms of partnerships - next few weeks will see a lot of partnerships - BIG names in crypto and also non crypto.  All focussed to get users and revenue growth.

Q8. Really why develop an investment platform with cryptocurrencies in Gibraltar? Is it because of some ease of legalization of documents or simply because it wants to submerge and benefit this region to the decentralized financial world?

We have a license from there.  License helps us cover everything from regulatory perspective.  It also gives trust to users.

Q9. Really, investment platforms can start with a varied capital, many require a minimum of $ 100, while others with only $ 10, really because B21 requires starting with $ 25 of investment? Is it because of some attachment or whim with that figure?

You are right.  However with $25 you can invest in 6 currencies which means you can invest very small amounts also in each currency.  We believe that there should be some minimum investment to start with.  And we chose $25 as it works for US to Asia alike.

Q10. What is B21 BISHOP programs all about   ? What are the utmost advantages OF B21 BISHOP program?

Here is the link - check it out

https://medium.com/b21official/announcing-b21-bishops-program-fa13f50b8627

Q11. Adoption is important factor that all  blockchain  projects should focus to be more attractive in the investors eyes. also What You have done and plans to do achieve adoption?

Ok.  We have thousands of users already. We are having multiple partnerships coming which will drive BIG user growth.  We have done Millions of users in our last business and can scale.  We are very confident about this

Q12. Describe the application and performance of B21 card system, How can I obtain a B21 card?

You can order the card on APP.  More details coming soon.  We already have BETA cards in hands of people.  I have mine and I love using it ...

Q13. Is there need to verify a user's KYC to make transactions on B21 exchange?

Yes. As we are regulated we need everyone to perform KYC

Q14. Recently the price of the native tokens $ B21 has had its lowest fall in history, really why do you think this happened? and even worse in this month where the majority of cryptocurrencies had a great uptrend? How do you plan to counteract this trend?

Price has fallen. It happens to any project. I think it is the best time to buy.

Q15. DeFi is one of the hottest topics in the blockchain field. Can you share your opinion about DeFi with us? Do you think DeFi will destroy the existing financial system? What is your project Approach towards DeFi?

DeFi will shape things for next few years in crypto. We are aligned. We actually bring DeFI to everyone. We are your gateway to crypto and DeFi

Q16. I understand that it is totally easy to deposit a Fiat balance in the B21 wallet, but as for the exchange fees to tokens, would it be better to make this change in B21 or deposit directly from an exchange as direct Binance to the B21 wallet in tokens?

I would say easy and best is to buy on B21 itself.  But you can always deposit crypto which has been bought anywhere else

Q17. Can you describe how scalable, fast and secured is the transaction on B21 for optimized users' experience?

You can buy 6 coins in any proportion for as little as $25 within 2 - 3 clicks.  Thats the ease and speed we offer

Q18. I understand that B21 focuses on each user creating their own cryptocurrency portfolio, but what does B21 really recommend to its envelope, what characteristics should each user's portfolio have? is B21 really enough? or is much more required?

I think diversification is best.  Its not an advise - but what I do is diversify in all 6 coins.

Q19. Currently the B21 platform is available for 82 countries, but why is it really not available to all? what limits them? And how long will they add other countries to the list?

It's available to around 70 countries now.  We offer to countries which fall in our compliance comfort zone.

Q20. Who is your investor? How do you generate revenue to sustain the project? What are your goals to the end of 2020 and beyond?

We recently raised money from HK based fund. We are funded enough and have revenues today.

Q21. In the same way that I can deposit capital in my B21 portfolio with a direct balance of my debit and credit card, I can also exchange my cryptocurrencies in Fiat and then deposit them in my bank accounts with which I deposit? Is it allowed to deposit with transfer from any bank account?

Yes

Try our app and share it www.b21.io  

As I see you all are crypto enthusiasts and I am sure many of your friends and family members may be asking how to get involved in crypto - ask them to come and check B21 .  Point them to trusted and regulated platform to start their crypto journey...

Twitter: https://twitter.com/B21Official

Telegram: https://t.me/B21Official