Cryptocurrencies have redefined the way money is now exchanged and transferred all throughout the world. Due to their decentralized nature, digital currencies are immune to issues such as inflation, governmental interference etc, and thus are the perfect means of sending and receiving large sums of currency from one end of the globe to the other.
In recent years, there have been many new apps that have been launched on the crypto network that allow for trading, storing and of currencies such as BTC, ETH etc.
What Is Skraps?
Skraps is an all new crypto service that basically serves as a ‘Micro-Investing Application’ as well a wallet to hold currencies. In addition to this, other features of Skraps include:
Easy to Invest
Connect Your Wallet — first requirement is connecting your crypto currency wallet and debit/credit card directly to the platform. This will speed up your withdrawal and deposit from wallet to platform vice versa.
Make a Purchase — whenever purchases happened, all of the rounded off amount of your spare change will turn as your capital. The rounded off amount of your spare change from the transactions will depend on what you want. To set up an example, let us say that you avail an item worth 7.91 USD each, if you choose to round it off up to 8.00 USD is up to you, user is in full control. The difference between the actual price and the rounded off amount will become an investment to your Skraps portfolio.
Invest Your Change — The spare change is automatically invested in their chosen portfolio. Users don’t need to do anything; they can simply watch their wealth grow.
Low Cognitive Load
There is no need to exert effort to users of Skraps because the capital used will be from the daily transaction. This will reduce the so-called cognitive load of a person as all those will be taken care off. After rounding off and choosing what portfolio and risk level will be used, after that you have nothing to do.
Choose portfolio based on your risk appetite
Choose the level of risk corresponding to your personality. You have full control over your account. Just keep in mind that the higher the risk you are about to encounter is definitely the higher the return on your income.
Create your own portfolio and share with the network
Initially, we will start with portfolios created by experienced crypto currency managers as detailed above. But in due course, we plan to introduce features for users to create their own portfolio and share with the Skraps user base. Any user on the Skraps platform can choose to copy in a user-created portfolio and benefit from the expertise of other users. This will also promote a health social community.
Be in complete control of how much you invest
The Skraps platform is very suitable to the crypto currency environment because crypto assets are made up of decimal numbers where the round off can be use perfectly. The user can round off up to the amount that he or she wants to invest.
No onerous requirements
One of the things people are looking as an investor in a company is the absence of so many requirements just to use their services. In Skraps you will not find too many requirements:
• No minimum or maximum amount of investments;
• No minimum or maximum balance;
• No withdrawal fees;
• No payment delays. Instant payment processing;
• Instant withdrawals; and
- Anonymity — no social security number or other ID for KYC is required.
All of the users’ data is protected with 256-bit encryption and never stored on their devices. Customers’ peace of mind is our highest priority. At Skraps, we work hard to protect users’ information, prevent unauthorized account access and notify them of any unusual activity.
Leaderboards and Community
It is a feature you can see inside the application wherein top crypto performers will be listed in the Leaderboard. The community will be able to see their performances and this will lure lots of professional traders even outside the Skraps. For every week a user is in the Top 10, he will receive some Skraps token. This will incentivize users who are crypto experts to join the platform and improve the quality of portfolios available to users. This will also create a healthy social dimension to the platform by encouraging competition between users for featuring in leaderboard.
The key reasons which inclined the Skraps towards a token sale are:
1. In summary, the network effect. Tokens will help the growth of the platform, as early investors can buy tokens at a lower price and act as evangelists so that more and more are introduced to the Skraps platform. Token issue thus helps solve the problem of cold start which affects most platforms. As more people join the Skraps platform, we can offer them services at lower transaction fees. (This is the same concept as bigger mutual funds can charge lower transaction fees as their fixed costs are distributed over a larger number of customers.)
2. The Skraps token will be used to pay the portfolio managers in the platform. This would ensure that the incentives of the portfolio managers are aligned with those of the Skraps platform. If the portfolio managers are able to generate good returns, more customers will be attracted to Skraps for investing. This is a win-win for both the portfolio managers and the platform.
3. The Skraps token sale (hereinafter the Token Sale) or initial token offering (ITO) is a good way to generate initial investment which can fund the early development and marketing of the product.
Token Sale Allocation:
Total Supply: 110 Million SKRP Tokens
Public Sale Allotment: 66 Million SKRP Tokens
Current Price: 0.45 USD each
Phase 1 — — January 15-February 15, 2018
Phase 2 — — February 15-March 18, 2018
For more details please note the following important links:
Official website: http://ico.skraps.io/#
Token Sale: https://skraps.typeform.com/to/S7LlFO
SKRAPS Whitepaper: http://ico.skraps.io/SKRAPS_White_Paper.pdf