No matter what currency you use; the likelihood is that you will end up with small amounts of change. Unfortunately, this change is often left abandoned and considered to be not worth the effort. Skraps with the help of cryptocurrencies has come up with a solution.
In homes all around the world, you will find miscellaneous amounts of small change gathering. A classic example would be down the back of the sofa. In the UK a study has revealed that Brits alone have more than £342 million worth of loose change lying around the house.
Despite cryptocurrencies having no physical form, the potential for leftover small change is just as great. Unfortunately, just like with fiat currencies, this change often gets forgotten.
People will usually own multiple cryptocurrencies stored across a range of different crypto-wallets. This gives them access to a wide range of goods and services that can be purchased using cryptocurrencies.
To maximize usability, cryptocurrency transactions can be done in fractional amounts. The world’s most well-known cryptocurrency – Bitcoin is divisible to 8 decimal places (0.00000001 BTC) and many others allow up to 18 decimal places.
When using cryptocurrencies to make purchases you are often left with fractional amounts of crypto-change. It’s the combination of this small change and the fact it can be sitting in various different crypto-wallets that leads to it often being forgotten.
The Canny Solution – Skraps ICO
Skraps have come up with a canny solution to this problem. The Skraps application will not only help its users reduce the amount of forgotten crypto-change, but also put this change to work helping to create brighter financial futures.
It works by linking all of your crypto-wallets to the Skraps platform. Users will then be able to round off any transactions they make to a chosen decimal value. This means if you made a purchase for 0.0049 BTC you could round it up to 0.005 BTC.
The additional 0.0001 BTC would then be invested into a professionally managed diversified portfolio. Users will get to choose from a range of different portfolios to suit their risk tolerance.
This highly convenient form of micro-investing proves that you don’t need a lot of money to get started. It helps cultivate the beneficial habit of investing that everyone desires.
To learn more about Skraps and its upcoming initial coin offering check out www.skraps.io.