SKRAPS YOUR INVESTMENT SOLUTIONS

Everyone knows that it’s good to start investing. But very few people actually invest. The reasons include lack of knowledge about investment and cognitive loads in making a set of decisions about how much investment, where to invest and when to invest. According to this survey, 40% of millennia feel they do not have enough money to start investing in the stock market and they believe it takes a lot of money to get started. Many fintech companies have tried to make investments simpler and reduce the investment process. Robotic advisors such as Wealthfront and Betterment allow users to start investing in just a few clicks. Taking this step further, transforming investment applications such as Acorn and Stash even reduce the burden of investing by investing the amount of backup changes from each of their user transactions. With recent crypto growths such as Bitcoin and Ethereum, many people have invested in crypto. Some famous investors like Fred Wilson [2] and Chamath [3] have stated that one must have at least 1% of their portfolio invested in crypto.

features

We have designed the Skrap to be a platform that people turn to when they start investing. Our focus is to keep the user experience so simple and intuitive that anyone can present the platform and start their investment journey. Because investments happen with every transaction, there are natural triggers to invest. The investment is the amount that is the “reserve money” from the Transaction, so the user does not need to think twice before making an investment. It’s just as good as the alteration reserves that people forget after saving in their coat pockets. Some of the key features of the Skraps platform are:

Easy to invest
Anyone can start investing in the Skraps platform by following three simple steps.

Connect Your Wallet — Users must first connect the hanging crypto or debit / credit wallet they use to make purchases to the Skrap platform. Purchase Make — Users can then continue to spend as usual. They can decide how much they want to collect to the nearest decimal point after they make the transaction. For example, if someone buys coffee for $ 2.75, you can collect that purchase to $ 3, and the difference ($ 0.25) is invested in your preferred portfolio.
- Invest Your Changes — Backup changes are automatically invested in their preferred portfolio. Users do not need to do anything, but to see their wealth grow.

2. Low cognitive load
Since all investments are made from changes in transaction backups, users do not have to do it consciously deciding whether they want to invest and how much they want to invest. All decisions are taken care of. They just need to choose how much they want to generate, and the reserves amount is invested directly in their preferred portfolio. Because the numbers are so small, people Do not think twice before investing and it becomes a second sort of habit to invest with each

3. Choose a portfolio based on your risk appetite
In Skraps, users can choose to invest in a portfolio that suits their risk appetite. If the user is young and wants to take more risks, he may choose to invest in an aggressive portfolio. This portfolio can result in higher returns but higher market risks. For retired parents, a conservative portfolio would be more appropriate because they do not want to risk their savings. They will be ok with a lower rate of return, but one that is not exposed to high risk.
Thus, different user segments can choose a portfolio based on their financial goals and life stages. All these portfolios are created by experienced crypto-cardiac managers, so users are guaranteed the best return for their chosen risk profile.

4. Create your own portfolio and share with the network
Initially, we will start with a portfolio created by experienced crypto managers as detailed above. But in time, we plan to introduce features for users to create their own portfolios and share them with Skraps user base. Every user on the Skraps platform can choose to copy them user-generated portfolios and benefit from the expertise of other users. There’s a bunch of “experts” on Twitter with lots of followers. We can encourage them to do so for the portfolio on our platform so their followers can invest. This will not only give users a wider portfolio to choose from, but also give expert users the opportunity to try it out their hands on the management of the cryptocurrency portfolio. Users who create their own portfolios and open them to the public to copy will also earn a small fee for their services. This fee will be based on the amount invested by other users in their portfolio account. An example illustration is shown in Figure 5

5. Be fully in control of how much you invest
Most cryptocurrencies (such as BTC, ETH, Litecoin) allow transactions in fractional amounts. Each bitcoin (BTC) can be divided into 8th decimal place, so that each BTC can be split into 100,000,000 units Each bitcoin unit, or 0.00000001 bitcoin, is called satoshi. Satoshi is
the smallest unit of Bitcoin. The smallest unit of ETH is called Wei, and measuring 1x10–18 ETH. Since many other cryptools also allow up to 18 decimal places, we want to provide full flexibility to round up voice to users. On the Skraps platform, users can collect up to 18 decimal digits (depending on the number of crypto decimal that allows in the transaction). For

6. No heavy requirements
We imagine making a cryptocurrency investment as simple and seamless as possible. To achieve this vision, we believe that all the unnecessary requirements that modern investment platforms have applied to users should be addressed. We comply with policies that do not apply to all users. Some prominent features of our platform are:

There is no minimum or maximum amount of investment
No minimum or maximum balance
No withdrawal fee
No payment delay. Instant payment processing
internal withdrawal
Anonymous. No social security number needed.

7. SecurityAll user data is protected with 256-bit encryption and never stored on their device. Customer’s peace of mind is our highest priority. At Skraps, we work hard to protect user information, prevent unauthorized account access and notify them of unusual activity.

8. Leaderboards and Communities
User portfolios in the Skraps platform will be ranked on the leaderboard. Other users can only partially view this portfolio on a leaderboard, but must pay Skraps token to view the entire portfolio. A portion of this fee will be paid to the portfolio owner and some will be paid to SKRAPS. Once fees are paid, users can copy this portfolio on leaderboards for their own benefit. For users who are continuously ranked at the top of the leaderboard, there will be additional rewards. So for every week a user is in the Top 10, he will receive some Skraps tokens. This will incentivize crypto-expert users to join the platform and improve the quality of portfolios available to users. It will also create a healthy social dimension to the platform by encouraging competition among users to appear on the leaderboard.

SKRAPS token

The SKRAPS token is the original token for the Skraps platform. The symbol is SKRP.
Use Token
The token skraps will be used for the following purposes:

The service fee of the Skraps platform will be imposed in the token SKRAPS. As described above, each account will be subject to 5% in the SKRP token per month, regardless of the amount invested by it.
The SKRAPS token will be used to pay the portfolio manager who will manage the crypto portfolio on the platform. It will also help align portfolio manager incentives with the success of the platform. If the portfolio goes well, more users will be attracted to the Skraps platform. This will lead to an increase in token value and portfolio manager earnings will also be higher. Anyone can create their own portfolio, broadcast it to the public, and earn 20% commission from anyone who decides to copy their portfolio.

Road map

Figure 11 shows the roadmap of the Skraps platform in detail. We will focus first on creating desktop apps for the Skraps platform in April 2018. Once the desktop app becomes stable, we’ll focus on creating mobile versions of apps and plan to publicly launch mobile apps.
June 2018.

Summary

Skraps are micro-investment platforms where users can invest by rounding up their transactions in crypto. Reserve changes are invested in the user-selected crypto portfolio based on their risk appetite. This portfolio is managed by a professional operational crypto manager to ensure the best return on investment. We introduce SKRAPS tokens that are used to pay transaction fees on Skraps platforms and professional fees to portfolio managers. Our vision is to make kriptocurrency investment so simple that everyone can start investing with just a few clicks. Skraps platform is our first step in that direction.

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