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Skraps: Investing in Crypto When Money is Tight

If you’ve been following cryptocurrency, you will know that it has quickly become the best-performing asset class of all time, spectacularly outstripping the stock market and other traditional investment methods.

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Indeed, even when Bitcoin’s recent dip is examined, having dropped below $7,000 in value, the asset had still not reached a 200-day low – and not every cryptocurrency in the industry was affected.

This poses a question for the average person – the individual wishing to invest in cryptocurrencies yet not having the knowledge or financial ability to do so: How can I get involved when money is tight?

If you are hoping to benefit from cryptocurrency’s profit margins, but feeling at a loss as to where to begin, the following is a dedicated message just for you.

You may have missed Bitcoin’s spectacular rise from $1 to $100, and then from $1,000 to $20,000 just last year, but the best part of cryptocurrency is far from over. In fact, it is just beginning, and there are hundreds of new digital currencies with incredible growth and positive prospects for the future.

To get involved, you don’t need to have hundreds of dollars set aside. You don’t need to be a financial expert. It is not impossible. You can still invest profitably in cryptocurrency, and this can all be done through a modern twist on the traditional micro-investing platform.

And it’s called Skraps.

What is Skraps?

Skraps is asoon to be released mobile application that will revolutionize the crypto investing world by making the market accessible to anyone. Once downloaded, the you can link Skraps to your bank cards, and each time you pay with them, the transaction will be rounded up and the balance sent to Skraps.

The spare change left over from your card purchases will be invested in your chosen cryptocurrency portfolios, allowing you to select the degree of risk you are comfortable being exposed to.

Off course, the massive profit potential of the cryptocurrency market is not without risk, but Skraps works to balance out the volatility by diversifying your portfolio across a wide number of cryptocurrencies.

Remember, the majority of cryptocurrencies are independent from one another. One might shoot up in value while another remains constant, and a third goes through a dip. Through spreading your investment across different cryptocurrencies, and since the overall trend is positive for the vast majority of the time, you will find yourself making a profit far more often than not.

Why Use Skraps?

A recent Bankrate study found that less than half of Americans aged 30+ save even 5 percent of their annual salaries. Many people don’t think they can afford to save, so most don’t even try.

The beauty of Skraps is that there is no minimum investment amount, allowing anyone at all to save and invest whatever they can afford to part with. Through putting away just a few cents every time you use your card, you are slowly building your investment legacy, one transaction at a time.

Skraps lets you put away amounts so small they’re not even missed, forming what can be considered an entirely passive investment. You may find yourself pleasantly surprised when you open the app and discover how much your spare change has grown.

When Can I Get Skraps?

Skraps is currently in its token sale, and the platform’s development is well under way. The first version of the app will be released to the public as early as April 2018, at which time you will be able to download it and begin investing your spare change.

However, if you would like to get involved and be a part of Skraps’ growth, you can join in the token sale here and purchase SKPR tokens at a reduced rate. These tokens will later be used in the platform, and you will also be able to trade them on exchange after the token sale.

Until then, feel welcome to chat to the team on the official Telegram channel, and get all your questions answered before you start using the app.

Skraps – making cryptocurrency investing accessible to anyone.

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Andreessen Horowitz’s $300m Crypto Fund Buys Stakes in Stablecoin Project

An upcoming stable coin project featuring a loaning system has bagged a $15 million investment from Andreessen Horowitz. VC Firm to Govern MakerDAO The venture capital firm, with a history of high profile investments into crypto projects, bought 6 percent of the total MKR supply through its $300m crypto fund, a16z crypto. By doing so, the US firm has got the rights to govern the Maker network, which includes MakerDAO, the stable coin firm, and the Dai Credit System as it becomes the first DAO-enabled stable coin project. The investment also marks a16z’s very first strategic purchase in the crypto industry. Katie Haun, general partner at a16z, believes MakerDAO will provide a compelling opportunity to their fund in the crypto-space. The former federal prosecutor, who is also renowned for having led the investigation against Mt Gox and Silk Road, said in her press statement: “MakerDAO’s technology, ecosystem and talent have put theory into action to deliver a decentralized stablecoin that we believe will help drive the future of the crypto economy.” For MakerDAO, a $15 million investment means more funds to develop their Dai Credit System. Not to be confused with MKR, which is a proof-of-stake token, the Dai Credit System uses a specialized stablecoin called Dai. The Dai token is soft-pegged to the US Dollar and is created during a seemingly unique loaning process. “Dai is created when asset owners deposit collateral to secure a loan, which is denominated in Dai stablecoin […] This allows owners of illiquid or unstable assets that wish to retain those assets over the long term to gain short-term liquidity, i.e., an ability to spend value otherwise locked in those assets while still retaining those assets,” stated Haun. For now, borrowers will be able to use ETH token as collateral to secure a loan from MakerDAO. The team has also launched a multi-collateral DAI system on the Kovan Testnet. It would allow borrowers to collateralize a diverse basket of crypto-assets in addition to ETH. The Maker network, in general, makes use of a set of autonomous smart contracts to coordinate the loan system. That said, anybody with an internet connection and with some collateral to spare can create Dai stablecoins, without needing an intermediary. “With an exciting fall full of announcements, MakerDAO is making its mark as a vanguard of blockchain technology. The team looks forward to continued product excellence and rapid Dai adoption in the coming months,” the Maker team said as it signed off. Image from Shutterstock The post Andreessen Horowitz’s $300m Crypto Fund Buys Stakes in Stablecoin Project appeared first on NewsBTC.

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