Bitcoin Forum

Hi gang,

currently working on a project to help friends and family make investments together through their friendly neighbourhood crypto enthusiast:

looking for people to try out the alpha version of our product:

https://www.cryptosquad.io/

would love feedback, thanks  ;D

You can see that this is a new market and extremely risky, this market can bring you huge profits that can also make you lose your property in one night. So I never let my family or friends know that I invested in the crypto market. We all see the current market is in crisis, the price of bitcoin and altcoin have fallen dramatically in the past days, so you can see that this is a very risky school.

Definitely a lot of volatility in the market, but I do believe that the next major public applications and services will be decentralised, I also believe that giving the general population (not just the "accredited investors" or people with the technical knowhow) the opportunity to invest in these. That's what we're aiming for anyway!

I've taken a look at the site, and I kinda like the idea.

Anyway, do you have something in place that would prevent the fund manager scamming other people and taking away their money? Because I can clearly see lots of people offering crypto investments to strangers here and not just family and friends. We might even see a few people here in the forum that's gonna start a service like this of some sort.

I also like the idea, but I would expect a lot of losses and scamming from "fund managers". I believe the site should choose and allow only a few known people in the community to become fund managers.

It might be better to market the site to experienced traders first, and let them market themselves to "friends and family".

Yes! The fund manager can only trigger trades. Only the investor can withdraw their money!

Neat idea actually, but where will the funds be stored? I wouldn't feel too safe if all those coins would reside in an online wallet.
I really do like the concept of these small-scale community investments, it's definitely something that I would introduce to my family or friends, if it's all secure.

I'll sign up for early access to check it out.

Is it some kind of application just for IOS ?
what about androids?
seems like an exchange , but how come it says investment on the front page?

The alpha version is iOS but the web app + android are coming soon

Thanks for signing up!

For the alpha we’re using hot wallets, but we’re moving towards multicurrency device wallets where the keys are controlled by the user, we want to make sure we audit this thoroughly though before including it in the build. As you say, security is paramount!

I would download it from google play when it gets there . I wish you success in the project.

great to hear, If you're signed up on the site we'll keep you updated with progress!

This is actually a good idea. It's not just about investment, rather it contributes too to introduce crypto to other people.
I see this useful as it gives a unique interaction between traders (more like a social app). If there's no chat function yet, I highly suggest it - a chat box exclusively available for the members of the group.

Too bad I don't have any working ios device here, I can't give my full feedback.

i agree with this , when they make money it is all good but the moment they lose some will look to blame you. imo when someone want to invest they should do the research before hand.

It is good that you have this idea of investing for them, but think first if crypto will be your priority.  Crypto is risky and putting all your time on it is good but you still should have a much stable job to support your needs. You can't just keep on doing btc because it is easy to gain profit here. You will gain more profit by having another job alongside with btc.

Indeed a good idea of a sort of bonding time and gaining profit, however, you should not always depend on crypto. Find a stable job while doing stuff for bitcoin to earn more profit for your everyday needs. But wht you want to have is good, but I still encourage you to go and do something else.

We just finished building the trading tab on our beta version!

If you want to take it for a spin please let me know and I'll get you setup with a beta account, here's a quick demo...

https://www.youtube.com/watch?v=m7eKfQDY_Dc

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https://cryptosquad.io

Are the "fund managers" allowed to withdraw the coins at anytime without the site overlooking them? I believe there should be a request subject for approval or an alert given to the investors before a fund manager can move or withdraw funds from the site. Including the coins that are owned by the fund manager himself. It will be like "staking" with his own money to run the fund.

Hey!

No the fund managers cannot withdraw funds belonging to other people. They can withdraw their own portion of the fund, but you're correct, we should notify investors if the fund manager makes a withdrawal since it's very important to some people that the fund manager have skin in the game.

thanks for the feedback!  ;D

The goal is good but how do you prevent scams? Because people will invest on your site without escrow is a risky thing.