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Skraps essentially works like Acorns but for fiat and crypto-currency purchases. Users can invest their cryptocurrency or fiat spare change with Skraps platform to earn the rewards of consistent investing. For investing cryptocurrencies, a user will need to link his crypto-currency 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.
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:
- Moderately Conservative
- Moderately Aggressive
There will also be a Leaderboard feature so users can post their high performing portfolios for other users to copy from.
Initial Coin Offering Advisory
Rated on 19 Dec 2017
Rated on 14 Dec 2017
1) "The user can select the type of portfolio he wants to invest in based on his risk tolerance." - despite the market condition? So you will make some users to buy at highs and sell at lows?
2) No MVP, alpha or beta product
3) Team: - who from the team of: 2 Co-Founders, 3 Advisor, 2 Blockchain Experts, 1 Smart Contract Developer, 1 Developer, 1 International Advisory, 1 Manager, 1 Marketing Consultant; is going to develop and construct investment portfolios? Based on what? Backed by which experience? - from the Presentation on the web-site: "These portfolios will be created by a third party" - have you guys heard about rebalancing portfolios? About immunizing portfolios or any measures that can affect the weights in the portfolios? - in relation to this the WP states "All these portfolios are designed by experienced cryptocurrency managers …" - experienced in managing cryptos? Experienced in investing in cryptos? The boom in this area is less than 2 years old, and that is enough to be considered "experienced"?
4) From the WP: "How is Skraps different from other projects which do spare change investing in crypto? Dust and Coinflash invest fiat currency into cryptocurrency. Skraps invests fiat and cryptocurrency into cryptocurrency/crypto-assets. Most tokens are spent in fractional amounts (most up to 18 decimals) so it makes perfect sense for Skraps to invest crypto into crypto as well as fiat." - presented a really "strong" competitive advantage
ICO team member replied on 19 Dec 2017
Thank you very much for your critique, Nikolay. I am all for constructive criticisms of projects as I believe it helps build a better product and strengthens the ICO community.
However, I am against dishonest reviews.
I'd like to point out that Nikolay serves as a "Business Strategy Advisor" for Giza Device, which was competing directly with SKRAPS for votes on the ICOBox platform. This presents a direct conflict of interest. If your sole "strategy" as a "Business Strategy Advisor" is to give negative reviews to your competitors, than I wish you luck. Skraps ended up receiving the highest amount of votes on ICOBox's platform despite your best efforts to sabotage our rating :)
Now, to your review. User's can select between 5 Portfolios designed by reputable portfolio management groups, which we will announce shortly. If a user has a low risk tolerance, they can choose from the "Conservative" option, or for high risk, the "Aggressive" option.
Users can also broadcast their high performing portfolios to the rest of the Skraps community via our Leaderboard. If you are up for it, sign up for Skraps, and see how well your portfolio does and earn tokens from other users who want to copy from it :) We'll cover your first year free of charge.
Skraps allows users to invest their spare fiat and cryptocurrency change into portfolios of all cryptocurrencies. There may be one other competitor who invests only fiat change strictly into BTC and ETH. We also have created a social aspect to investing via the Leaderboard function, explained above.
Thanks again for your review, Nikolay. I wish you luck with your endeavors. You can reach out to me personally at email@example.com
Thank you for your comment, however I would like to reply as per specific points:
i. As for your review of myself:
1. When GIZA Device was competing with Skraps for votes on the ICOBox platform I wasn't even involved in the project (can present our contract as a proof). Thus, please check first before making "dishonest reviews" about the members of ICObench.
2. I, and neither GIZA do not view companies from other sectors as competitors (just like Microsoft wouldn't consider Comcast as a competitor), and if you are competing with projects just for general public hype or for likes - that clarifies some more points about the real purpose of ICO.
3. ICObench allows you to view rating history, and do you think that I try to "sabotage" every ICO where I gave a negative opinion? :) Then what about projects where I gave a positive opinion?
ii. As for your reply about the project:
1. Looking forward to seeing the "reputable portfolio management groups". Hope to see someone like BlackRock, Vanguard, PIMCO or similar ones. Otherwise it will be hard to believe in their reputability.
2. Okay now you got the screenshots for the product part.
3. So effectively, the competitive advantages and "innovative" features are: you allow any spare cryptos/fiat to be invested + copy trading.
And thank you for offering to sign up for Skraps, but I prefer to user other products that work well for me;)
1. At the time of your initial review, your profile included your position with Giza Device. No need to present any contract as proof.
2. Of course, Giza and Skraps aren't competitors. However, we were competing in the same competition on ICOBox's platform. To use your example, if Microsoft and Comcast were in the competition to be named "Company of the Year", wouldn't they be considered competitors in said competition?
3. You are one tough judge, I'll give you that, considering your average rating is 2nd or 3rd lowest among all experts. Your ISS score (ICOs you have participated in) happens to be one of the lowest too.
Anyways, like I said, I appreciate all comments, positive or negative. It helps strengthen the product and hopefully one day we can count you as one of our loyal users :)
Rated on 26 Dec 2017
Rated on 12 Feb 2018
Rated on 9 Jan 2018
Interesting concept with a utility for end user.
Financials are adequately presented.
Whitepaper requires attention from a user story perspective.
Rated on 20 Dec 2017
Rated on 8 Feb 2018
Rated on 4 Jan 2018
Rated on 22 Feb 2018
Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.
Ratings and ICO analyzer results are being updated (re-calculated) every few hours.
TeamApply as an advisor
Faiz Ahmed Faiz
Diego Emilio Cruces
Research - Team Development
White Paper - ICO Smart Contract Audited and Released
CO Ends + Mobile + Desktop Application Development
Beta Desktop + Mobile App Version released to Whitelist Members
Beta v1.0 Desktop + Mobile App Versions released to general public
Production ready app v2.0 released
Desktop + Mobile app versions released to general public
Open source development governance process to community
SKRAP DAO complete