The Skraps ICO recently started, their website is already showing sales of over 11 million tokens meaning that it's looking like it will reach the hardcap.

What is Skraps?

Website: https://goo.gl/qWxN72
They're planning to create a 'micro investing' platform that will allow their users to automatically save a small amount of cryptocurrency every time they make a transaction. They believe that this will increase the amount of investors making small crypto savings long term.

Problems with the current market

Cryptocurrency saw a huge rise during 2017 and attracted a fair few new investors. However Skraps believe that the amount of people who invested considering the amount of hype there was surrounding crypto was still small.
Many fintech companies have entered the market and tried to make it easier for people to invest, some platforms allow users to invest into stocks with just a few clicks.
However there's still many people who never make any real investments, according to a lot of research one of the main reasons for this is that people don't believe they have enough spare money to invest with.

The Solution

Cryptocurrencies have experienced extreme volatility recently and much higher volatility than most investments ever since they were released. Many investors enter the market and are scared away after seeing huge flash crashes.
To stop this happening so much the new Skraps platform will allow investors to invest a small amount at a time, this will be accomplished by using the small change that people receive and using it to invest into cryptocurrencies.
The portfolios of users will be managed by professional managers with the goal of increasing the return that user's of the platform receive.

Targeting young investors

The main group of people who don't invest are the younger generation, they feel that they don't have the spare money. However this is the best time for them to even invest a small amount of money. If a small investment of just $20 per week is made then in 5 years it will grow to $5,746 and that's with a growth rate of just 5%.
To entice investors to make this small investment the new platform will just use the small change that is received from a users normal transactions.
Micro investing has already seen a huge gain in popularity in recent years, with the cryptocurrency market already attracting a lot of younger investors this seems like the perfect market to combine blockchain technology, cryptocurrency and micro investing.

Spare change investing with crypto

In their whitepaper the team behind the project list 3 main reasons that this type of investing is perfect for the crypto market:

• The platform will allow it's users to invest based on the amount of risk that they wish to take, this will all be done automatically meaning that they won't have to waste their own time doing countless hours of research which often isn't worthwhile if you only have a small amount to invest.

• Investments will gradually be made which should help to combat the huge volatility of the cryptocurrency market, rather than investing during a huge bull run or a crash a users investments will be split at different price points.

• The crypto market is growing at a rapid rate, as more and more transactions are made the amount of spare change being invested through the platform will increase.

How will it work

Users will have the option of investing their small change from cryptocurrency and fiat transactions. If they wish to invest their change from crypto transactions then they'll simply need to link their wallet to the platform. Each transaction they make will then be rounded up with the change being invested into a cryptocurrency portfolio which is chosen based on the risk that they wish to take.
Each portfolio will be managed by a professional meaning that the trouble of choosing what to invest in is taken away from the investor. They state in their whitepaper that they're mainly aiming at cryptocurrency transactions but they also plan to give users the option of also investing the change that they receive from fiat transactions into crypto.

Easy to use

The team behind the project are planning to make the platform very easy to use and sign up with. Withdrawals from the platform will be instant without fees, no maximum or minimum investment and no KYC required.

Friendly competition

User's on the platform will be ranked with other user's able to see the leaderboard. Users however will only be able to see a small amount of another users investment and will have to pay a fee if they wish to view all their investments.
Any user who is ranked high for a long period of time will receive SKRP tokens as a reward. It's hoped that this will attract well know investors on to the platform.

How will Skraps profit?

They plan to charge a flat fee of 5% from the profits that any user makes, they hope that this low rate will attract more users.

Token Utility

They list in their whitepaper the reasons that they'll be using their own token:

• They believe that allowing users to purchase at a low price during their ICO will attract more investors to the platform. This initially ICO marketing should attract users who will then also use the platform once it goes live.

• The token will be used to pay all portfolio managers. This guarantees that everyone works together for the platform to gain popularity.

• Service fees will be charged with the token with 5% charged from users profits.

• Much of the initial investment that they receive from the token sale will be used to develop and market the platform.

Skraps ICO Details

• Total supply: 110 million.
• Tokens available during token sale: 66 million
• Price: $0.45, discounts available for early buyers.
• Payment method: BTC,LTC,ETH,Dash, Ripple and Bitcoin Cash.

Conclusion

The micro investing niche has already proven to be popular with fiat currency. By taking this successful concept into cryptocurrency I believe that it should go well.
The thing I love about ICOs like this is that many of the 1000s of people who invest into the token sale will then start to use the platform as soon it's released.
The only downside is that the team behind the project doesn't seem to have much experience in the blockchain world, however many inexperienced companies have so far shown to do well without much experience. They also have a lot of advisors listed in their whitepaper.
Check out full details on their website:
https://goo.gl/qWxN72
Whitepaper: https://ico.skraps.io/SKRAPS_White_Paper.pdf?_ga=2.244595845.1275907734.1518727334-1292100279.1517346777