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Skraps

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Skraps – Invest your spare change in diversified portfolios of cryptocurrencies

Skraps essentially works like Acorns but for cryptocurrency purchases. Users can invest their cryptocurrency or fiat spare change with the Skraps platform to earn the rewards of consistent investing. For investing cryptocurrencies, a user will need to link his cryptocurrency wallets to the Skraps platform. Whenever a user will make a purchase or do a transaction, a round off amount will be invested in the Skraps portfolio. The user can select the type of portfolio he wants to invest in based on his risk tolerance.

For example, suppose Alice is purchasing a flight ticket in Air Baltic using bitcoins. The price of the flight ticket is 12.98 BTC. She pays 12.98 BTC for the ticket. Then she goes to the Skraps app and rounds up the transaction to 13 BTC. So the .02 gets invested. The 0.02 BTC gets invested in a portfolio of her choice. Suppose Alice has selected to invest in the Conservative portfolio.

Then the 0.02 BTC will be invested in the Conservative portfolio in the Skraps platform.

Similarly, the spare changes after transactions in fiat currency will be invested in the selected cryptocurrency portfolio. The same scenario works for fiat. If Alice purchases a coffee for $3.75, she can round up the transaction to $4.00 and the difference (of $0.25) will get invested.

Thus, as users keep investing in the Skraps platform, their cryptocurrency investments will increase in value. The investment happens with each transaction, so there is no mental overload to decide where to invest and how much. Our commitment is to make investing very simple and intuitive so that everyone can benefit from the returns of disciplined investing.

Skraps platform will initially offer 5 different portfolios

• Conservative
• Moderately Conservative
• Moderate
• Moderately Aggressive
• Aggressive

All these portfolios are designed by experienced cryptocurrency managers who will invest in assets guided by the risk-return profile of the selected portfolio. These portfolios will be accessible by users for free. Users can view these portfolios and copy them for their use. Fig 3. shows an asset distribution in a sample cryptocurrency portfolio. In due course of time, we will introduce portfolios created by experienced users, which they can make public so that other users can also choose to copy those portfolios. The portfolio creator will get a fixed fee on the amount invested by other users in the portfolio designed by zer‑1.

Skraps is primarily focused on investing spare change from cryptocurrency transactions to cryptocurrency portfolios—but to introduce more people to crypto portfolio investment, we will also provide fiat currenciesto use in the crypto portfolio. So users can even chose to round up their transactions in fiat currencies and the spare amount from these transactions will be invested in crypto portfolios in the Skraps platform.

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Team

Kal Mokhtar

Co-Founder

Mohamed Effat

Co-Founder

Bogdan Fiedur

Blockchain Expert

Vinshu Gupta

Blockchain Expert

Sakaar Bhatia

Smart Contract Developer

Andrew Morgatov

Developer

Suraj Tekwani

Manager

Faiz Ahmed Faiz

Manager

Diego Emilio Cruces

Application Developer

Leonard Jackson

Marketing Consultant

Skraps Advisors

Aayush Jindal

Greg Sigalov

Volodymyr Lytvyniuk

Nikhil Mohan

Milestones