Cryptocurrency

Skraps ICO Review and In Depth Analysis

Skraps ICO Review Analysis

Skraps ICO is one of the most anticipated Initial Coin Offerings and it recently gained a lot of traction. Let’s review and do analysis how Skraps is preparing to solve micro investment problem with the help of cryptocurrencies (bitcoin, Ethereum, litecoin and many more).

The digital drive in many countries has pushed the virtual currencies like Bitcoin, Litecoin, IOTA and Ripple to rise above the limits.

Today, cryptocurrencies have become a craze among the investor because of the returns that it offers. Though some people call it as a bubble, but its meteoric rise and the technical analysis done by the Reuters confirms it otherwise.

Cryptocurrency returns bitcoin ethereum litecoin

Source: Skraps Website

It is believed that this trend will not collapse in years to come. To capitalize on this opportunity, Skraps has made a revolutionary app through which the investors can invest the spare amount into this market.  But before that, let’s have a look why to invest in the cryptomarket.

Investment in cryptocurrency market is the key

Unlike traditional markets, cryptocurrency markets are available on the dedicated basis and offers huge returns. Because of these characteristics investment in the crypto market is better than investing in traditional markets.

Scraps ICO Project Overview

One of the greatest shortcomings that the investor face when dealing with the cryptocurrency market is safety. To solve this problem Skraps has made an app that helps the investors to invest the money securely and effortlessly. Incorporated recently, Skraps helps the investor to invest spare fiat and cryptocurrency in the diversified crypto portfolio.

Skraps ICO Business Model Platform Diagram

It is the first micro investing company that helps the user to round up the spare change from the cryptocurrency and fiat related purchase and invest the same into crypto assets. What’s more! The investor can connect debit/credit card or cryptocurrency wallet with it.

Read the complete whitepaper using this link.

Business Model

Skraps invest fiat and cryptocurrency into crypto assets. Most tokens are available in fractional amounts so it makes perfect sense to invest amount according to the risk appetite.

Benefits of using this Skraps App

There are enormous benefits of using this app like you can connect your debit/credit wallet, make a purchase and invest the spare change depending upon your risk portfolio.  Other benefits of this app are- the user will not require minimum or maximum amount of investment,  no withdrawal fees, no payment delay, instant withdrawals and no need for social security number. Lastly, the fees for using the Skraps app is very less compared with the other portfolio management services.

The Rationale behind building the App

This app is launched with a rationale that everybody has a different risk appetite and the investment should be made according to it. For example, if you have bought 0.0049BTC, you can approximate it to .0005 and the difference will be invested in the portfolio depending upon your risk taking capability.

Why saving spare change is important?

Skrap app helps the people to invest in cryptocurrency in a hassle freeway. The investor need not to burden himself as the app will help them to build the diversified portfolio.  It acts like a systematic investment plan and inculcates saving discipline among the investors.

Cryptocurrency spare change investment

Figure taken from Skraps Whitepaper

We believe the cryptocurrency will govern the financial market and this way people can save a large corpus by investing the spare amount.  There are 5 portfolio offered by Skraps that investor can select from – conservative, moderate, moderately aggressive, aggressive. This portfolio will be made by third-party.

Skraps ICO Details – Token Supply, Price, Hard Cap, Roadmap and Team

With that said, the company is soon going to launch its ICO in a segment that for sure will attract a lot of investors. The proceeds will be used to expand its operation. The campaign will be launched in 2018 and all the contributors will be screened through KYC norms and AML services.

The total number of token that will be created is 110 mn, out of which 66 million will be available for sale. 11 million token will be available for the promoters and 5.5 million will be reserved for the marketing and promotional programs.

16.5 million token will not be used as of now it will be kept for future token issue. The investors can invest in token by paying bitcoin or ETH.  To encourage early investment, price will be kept low and will spike as weeks go by.  At initial stage, 1 SKRP token will be available for $0.30 for the first week and goes up to $0.45 in the fourth week.

Skraps ICO Token Details and Roadmap

Their Roadmap looks achievable if they stick to their plan. They are supposed to launch the Beta version by March 2018, and DAO is expected to complete by August 2018. Looking their team members, there are a few talented guns in the team and it looks like they know what they are up to.

For more details about the ICO, Token price and subscription, please visit this link.

Verdict

We all know, cryptocurency is the most talked about asset class today, and it has risen to 1500% on year on year basis and 115% in the last month.  With this growth rate, some people even quote that equity is soon going to die its natural death. Many governments are serious about regulating the cryptocurrency market.

Skraps is addressing an issue and that’s what a good project does. Investing spare change be it of Crypto or Fiat, its a good idea. If the team delivers a good product, then it has a good potential. The token price starts from $0.30. It could have been a bit on the lower side, but considering the supply, its fine.

The short-term prospect is decent, but in the long term, the Skraps Token can do well as more and more investors move into the micro investment world.

To join the ICO, fill this form. Happy Investing.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

Stay updated with latest news on finance, taxation reforms, stocks, currencies, trading, global markets and many more.

Are you finding it difficult to manage your personal finance? Know your best opportunities of investments and savings with expert analysis and latest updates.

Copyright © 2016 Finance Minutes

You agree to not make actual stock trades based on comments on the site, nor on any techniques presented nor discussed in this site or any other form of information presentation. Finance Minutes will not be held liable for any losses you in occur while trading. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. All information is for educational and informational use only. You agree to consult with a registered investment advisor, prior to making any trading decision of any kind.

To Top