COINSEED — The Spare Change Investment And Portfolio Management

Coinseed is a spare change investing app that rounds up users purchases to the nearest dollar (or other currency) and invests the change into a selection of cryptocurrencies of the users’ choice, and/or to follow other users’ trades. Coinseed thereby allows users to effortlessly invest in crypto while building a diversified portfolio of cryptocurrencies.

PROBLEM

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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.

We 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.

On the other hand, GOBankingRates conducted a survey in 2016 and found that 34% of Americans do not have any savings and another 35% have less than $1,000 in their savings account. In other words, the majority of the Americans have less than $1,000 in savings.

Lastly, in a 2016 survey by the investment app Stash, 69% of millennials surveyed said they found investing confusing while 41% felt they lacked enough money to invest.

With the survey results above, we see three pain points that offer a tremendous growth opportunity for Coinseed:

Most people don’t have much savings to seriously consider investing
Even when people have money to invest, they find investing to be confusing
People do not know how to get started with investing in cryptocurrencies

Coinseed addresses these pain points with the Coinseed platform.

SOLUTION

Coinseed makes it easy for everyone to invest in cryptocurrencies by:

Automatically collecting user’s spare change to invest in cryptocurrencies
Allowing our users to change their existing portfolio to another portfolio

The first point above is our default feature - let’s look at it with an example. Say Ben, a college student, has 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.

Additionally, we list our users’ portfolios with their returns on the platform so that other users can replicate the best performing portfolios for their own. We call this feature “Portfolio Management” and no other cryptocurrency platform has this feature of converting a portfolio to portfolio. For example: let’s imagine our user Zach started with a portfolio of Bitcoin, Ethereum and Litecoin. On our leaderboard of portfolio with their returns, he discovers that Dash has been performing much better than any other cryptocurrency. If Zach decides to change his existing portfolio to a new portfolio that only consists of Dash, he can do so with just a click of a button.

Currently, we have 8 different cryptocurrencies on our platform including: Bitcoin, Ethereum, Bitcoin Cash, Dash, Ripple, Monero, Litecoin and ZCash as these are the major cryptocurrencies based on their market capitalizations. We are continuously adding more cryptocurrencies every month.

In conclusion, we 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 was officially launched as a mobile application on iOS and Android on November 21, 2017. Within the first 12 days of the launch, we 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:

Passive investing by keeping your portfolio
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.

We encourage our users to make portfolio conversions by ranking all portfolios created by users and their return percentages on the platform. This way our 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 our 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.

CSD TOKEN

Coinseed is issuing a total of 10,000,000 CSD tokens to allow the cryptocurrency community to be part of our ambitious goal of enabling everyone to invest in cryptocurrencies.

COINSEED MANAGEMENT TEAM VESTING

In order to ensure the longevity of the project and protect the integrity of the Coinseed team, their tokens will be vested. Vesting ensures the founders’ commitment to building the system in the long-term. Founders and the Coinseed team will have 2 years vesting with a 6 months cliff.
This means that Foundation retention and Coinseed team tokens will be locked in a smart contract, which would release them every 6 months proportionally during a period of two years, starting on the 7th month after the ICO.

TOKEN IMPLEMENTATION

The CSD token will be implemented as an ERC20-compatible token over the Ethereum blockchain. Ethereum was the natural choice for this project due to its broad adoption and industry-standard for issuing custom digital assets. The compatibility with the ERC20 standard leverages upon the existing infrastructure advantages of the Ethereum ecosystem, namely in terms of development tools, wallets, exchanges and human resource experts. The ability to program smart contracts with a Turing-complete language allows for robust foundation and flexible customization of the cryptocurrency to the CSD domain-specific requirements. For more information on ERC20, please visit https://github.com/ethereum/EIPs/issues/20.

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