Donut

Invest your spare change in Bitcoin & earn interest 24/7

Donut is an iOS app that provides an easy way to invest your spare change in Bitcoin and earn real-time interest on your savings. Simply connect your bank, choose how to invest and start growing your digital wealth in under 5 minutes.
discussion
Would you recommend this product?
47 Reviews4.1/5
I've been waiting for this for years! + Love the design πŸ’Ž + Love the idea 🀯 - Why aren't you guys in Europe yet? πŸ‡ͺπŸ‡ΊπŸ˜­
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Dan Spooner
Maker
Making crypto accessible for all at 🍩
@vincent_audoire1 Thanks for your support! We haven't forgotten about Europe and it's definitely something we have our sights set on soon. After all, we were born in Berlin πŸ‡©πŸ‡ͺ
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@vincent_audoire1 @dan__spooner Come to EU! I tried to sign up so many times!
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@vincent_audoire1 @dan__spooner Is there a way to stay updated about the EU launch?
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Dan Spooner
Maker
Making crypto accessible for all at 🍩
Hey Product Hunt, I speak for the whole team when I say that we’re super excited to bring Donut to Product Hunt. As a group of product nerds, we're proud to share what we’ve been building over the last year. From day one, our goal with Donut was to create an investment app worth using. Our team believes that cryptocurrencies and DeFi are essential to our financial future and that everyone, regardless of crypto savvy, should have access to these asset classes. Some of the features we're most proud of include: - Collect: round-up spare change from card purchases and automatically invest in Bitcoin - Schedule: an easy, customizable tool to set recurring investments - Donut Savings: earn real-time variable interest and grow your savings (leveraging Compound) - Quick Buy: make a one off investment using a Debit card Donut is currently available for iOS on the App Store in the US (excl. NY, WI, NJ and PA) and we hope you'll give it a try. A big thank you to everyone who has tested and provided feedback on Donut. We’ve met many of you in person or more recently on Zoom and it’s been great to build Donut with you! Let me know your thoughts and questions (or just say hi!) in the comments below. Neel and I will responding all day and look forward to hearing your thoughts on crypto and the future of investing. Thanks, Dan
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@dan__spooner Damn, I skipped a few days of ProductHunt and missed the promo by a day πŸ˜₯ The savings product looks great though, so still going to try it out!
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Dan Spooner
Maker
Making crypto accessible for all at 🍩
@iamramsey hey Isaac! Haha! Let me know how you get on and if you have any feedback we can bake into our future versions :)
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Looks great! I cannot wait for you to make it available in Europe πŸ‘Œ
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Dan Spooner
Maker
Making crypto accessible for all at 🍩
@rapholy neither can we Raphael! We'll keep you posted πŸ’―
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Paul GrauWeb developer
For someone who knows a bit about trading bitcoin/stocks and traditional bank deposit interest, how does earning interest here actually work? Where do the 5% come from? What's my risk? (bitcoin price fluctuation? counter-party risk?)
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Neel Popat
Maker
Enabling a better financial world
@graup Hey Paul! Thanks for reaching out with a great question. We have two product lines: one is an investment product for Bitcoin, the other (Donut Savings) is an interest bearing product which allows you to hold your savings in stablecoins to earn a higher interest rate than cash in a bank. On Donut, we automatically convert your dollars to stablecoins and supply them to our partners at Compound (https://compound.finance/). In exchange for supplying your stablecoins to Compound’s platform, you receive a real-time interest rate on your assets. The interest rate varies constantly, but has been as high as 5% APY in in recent months. On Compound, your stablecoins become part of a global decentralized lending pool. Borrowers take out loans from this pool and pay an interest rate, which goes directly to your pocket in real time. We built the app so you can literally watch your Donut Savings tick up second-by-second as it generates interest 24/7. We wrote a blog piece that covers Donut Savings in depth, but happy to answer any more questions here too πŸ™‚ πŸ‘‰ https://blog.donut.app/donut-sav...
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Paul GrauWeb developer
@neelpopat thanks for the explanation! The blog post helped as well. Would love to try the app when it launches in the EU or Korea.
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Neel Popat
Maker
Enabling a better financial world
@graup We'll be coming soon so stay tuned! πŸ‘€
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@neelpopat Donut Savings is a wonderful and elegant solution, onboarding fiat into the DeFi economy. I am curious, is there some sort of deposit insurance a lΓ‘ FDIC?
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Neel Popat
Maker
Enabling a better financial world
@daniel_de_sa Thanks Daniel that's exactly what Donut Savings does. FDIC insurance covers only USD on our platform and Donut Savings leverages the stablecoins. We supply these stablecoins to Compound which has it's own risks, but they mitigate this with extensive security practices and auditing. You can indeed read about their security here (https://compound.finance/docs/se...) and we are looking into ways to insure this even further!
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Micah MossCreator of Spooky Treasure Hunt
Easy, intuitive & has charm to burn! πŸ”₯
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Dan Spooner
Maker
Making crypto accessible for all at 🍩
thanks @micah_moss! All your feedback has been invaluable and we can't thank you enough for your support! πŸ™‚
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Micah MossCreator of Spooky Treasure Hunt
@dan__spooner The pleasure is all mine!
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Dan Spooner
Maker
Making crypto accessible for all at 🍩
@micah_moss hope to catch you in LA once we're out and about again!
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Micah MossCreator of Spooky Treasure Hunt
@dan__spooner Def β€” stay safe!
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