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Author Topic: Coinseed - Invest Your Spare Change in Cryptocurrenices - iOS and Android - US  (Read 203 times)
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October 25, 2017, 06:44:50 PM

Hi everyone, we've just launched our app in iOS and Android, check it out.

It's a micro-investment app for cryptocurrencies. Convert your spare change to Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Dash (DASH), Monero (XMR) and Zcash (ZEC). Create your unique portfolio and link your cards and bank accounts. We'll round up your transactions to the next dollar and collect the change. When the round-up reaches $5, it will be automatically deposited and converted to cryptocurrencies according to your portfolio.

Some FAQs:

1. At the moment, we are only available in the US, but planning to make a global release in December.
2. Fees: $1 monthly fee. Free for the first month. No other fee.
3. No deposit or withdrawal fee (in the US). We use a low fee ACH provider.
4. No exchange fee.
5. At the moment, we don't allow withdrawing cryptocurrencies. If a user requests a withdrawal, we sell the assets and send the USD amount to the user. It will be sold automatically on an exchange, so the price is instant. The reasons: a. It's the requirement of our ACH payment provider b. We really don't want to deal with frauds.

Have a great day Smiley.
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October 26, 2017, 03:48:22 AM

Its a good initiative thinking of the end users who have lots of changes beyond the dot of cryptos. Unfortunate that it is only available for users in the states. Will also would like to see ethereum and waves token added to the list.
There are some providers like payoneer who offer US bank account numbers, will you be supporting such accounts too or it has to be linked with an accont of US residents only?
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October 26, 2017, 08:54:13 AM

Not a bad idea at all honestly.

I like the fact that you essentially are forced into saving as well, meaning that impulse spenders can actually take advantage of this app and not only save but also invest in cryptocurrencies which i think has a bright future.

However, a $1 monthly fee for a portfolio probably worth not a lot is not a feasible business model imo, and you need to consider that often transaction fees will take up a big part of the portfolio, if it was low value like it is here.

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