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Coinseed – a micro-investment and portfolio management platform

As cryptocurrency prices keep breaking their all-time highs, the general public is ever more interested in investing in cryptocurrencies. Although the early adopters and enthusiasts of cryptocurrency and blockchain technology are enjoying great returns on their investments, most of the general public are still either not sure where to start or reluctant to invest huge sums of money as the cryptocurrency prices are very volatile.
Coinseed aims to solve this problem by providing easy access for the people to make microinvestments in cryptocurrencies. Their users can link their credit card and pick the portfolio of cryptocurrencies that they want to invest in. The rest is on us. They will automatically collect the spare change by rounding up their purchase’s amount to the next dollar. Additionally, their users can convert their existing portfolio into a new one. They call this feature “Portfolio Management” and no other cryptocurrency platform has this feature of converting a portfolio into another portfolio. Currently, they have 8 different cryptocurrencies on their platform including: Bitcoin, Ethereum, Bitcoin Cash, Dash, Ripple, Monero, Litecoin and ZCash. They are adding more cryptocurrencies every month.

Problem

According to the LendEDU survey that was conducted in September 2017, roughly 78% of Americans have heard of Bitcoin. Out of those 78% of people, 40% were open to using Bitcoin in the future and 34% were undecided. Moreover, millennials, who are between the age group of 18 to 35, are more likely to invest in Bitcoin than older generations, but they do not know how to get started with cryptocurrency investing. They see two main points in this survey. Firstly, most of Americans have heard about Bitcoin. Secondly, a large percentage of that group, mostly millennials, is either interested or at least open to the idea of using and investing in Bitcoin. Note that these percentages are growing bigger every day as blockchain technology is getting introduced to the mass market rapidly.

Solution

The first point above is their default feature and let’s look at it with an example. Let’s say Ben, a college student, have heard about Bitcoin and other alt-coins. Although he is very interested in investing in cryptocurrencies, he doesn’t know where to start and he thinks that he doesn’t have much savings to make the investment worthwhile. Luckily, he discovers Coinseed and opens his  Coinseed account to link his credit card. Now, when Zach buys a cup of coffee for $2.30, Coinseed will round up this amount to $3 and collect that 70 cents ($3 – $2.30) to invest it in his choice of cryptocurrencies. Thus, Zach started investing in cryptocurrencies with a simple registration process that takes less than 1 minute.

Currently, they have 8 different cryptocurrencies on their platform including: Bitcoin, Ethereum, Bitcoin Cash, Dash, Ripple, Monero, Litecoin and ZCash as these are the major cryptocurrencies based on their market capitalizations. They are continuously adding more cryptocurrencies every month. In conclusion, they assist people who lack knowledge, experience and ready-to-invest capital by automatically collecting their spare change to invest and creating a community who share the knowledge and portfolio ideas with each other.

Coinseed Platform

Coinseed platform has been officially launched as a mobile application on iOS and Android on November 21, 2017. Within the first 12 days of the launch, they have acquired over 2,000 registered users and 1,000 paying users without any paid marketing. This shows the strong interest of users.

Coinseed platform has two main features:

1. Passive investing by keeping your portfolio
2. Active investing by changing your portfolio whenever you want to

Note that these two features are not exclusive to each other, meaning that a user can either keep the current portfolio or change the existing portfolio to another one. Whenever a user converts his or her portfolio, there is 1% fee on the total value of the portfolio that is being converted. They encourage their users to make portfolio conversions by ranking all portfolios created by users and their return percentages on the platform. This way their users can learn from each other by looking at other people’s portfolios to get inspired or to simply replicate those portfolios. For example: let’s say their pseudo-user Zach started off with his $10 portfolio of Bitcoin, Ethereum and Litecoin. However, he discovered that another user’s portfolio of Dash, Ripple and Monero performed much better than his own. Zach decides to use this new portfolio with just a click of a button. In this process, Coinseed collects 1% of the $10 which translates into 10 cents.


For more information, visit the Website or read the Whitepaper.

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