Savedroid is a token that has been designed by a company based in Frankfurt, Germany and it has a very specific reason behind its creation. That reason is to open up the possibility of getting into the realm of cryptocurrencies but to do so in a way that you can use it to ultimately save money. However, the company does understand that people will be wary about this approach as they will have heard various horror stories related to prices rising and falling but then they have sought to create a way to get around that particular issue.
The Basics of Savedroid.
The team behind the project is hoping to encourage people to sign up and use their bot that will allow them to save money by an automated method. That method involves a bot investing and trading in cryptocurrencies without the actual individual needing to be involved at any level with this making it so much more accessible to everyone even if they have never even thought about a cryptocurrency before.
This idea has evolved from an initial app that the company created which was more for banking. From that experience, they came to the conclusion that people see saving money as being quite boring, so they have sought to make it far more interesting than anybody could have ever expected.
With this, a user is going to gain access to a wide range of cryptocurrencies as well as the opportunity to take part in various industry related portfolios and investment opportunities. The difference is that the hard work is going to be done for you, which does mean you don’t have to stress about your investment and whether or not it is working out for you. With this, you are in safe hands.
The Technical Aspect of Savedroid.
From a technical point of view, the first thing to know is that the entire cryptocurrency is built on the Ethereum platform. Also, the token is an ERC20 token, with this immediately opening up the door to you using any Ethereum based wallet for your transactions rather than simply using the one made available by this company.
So, how does it all work? Well, the creators state that the user will be in a position to access their platform and to then use that account as a smart savings account. Their app and platform then helps the individuals to make micro savings and this is where the blockchain and tokens come into play.
The company states that they are all about helping individuals to save money on those everyday things from different bills to products you use or services that make your life easier. Companies that offer any of these things can use the blockchain and tokens to offer their services to the customer base. With this, it means that both sides are going to win as the company can offer something for less money, and the individual can still get what they want without breaking the bank.
Also, the token will be used to pay the fees associated with applying these services on the blockchain, so it forms an integral part in the overall function of the platform.
However, it is the bot that they state is at the absolute root of their product. They state that it effectively learns what you want to do by looking at your previous interactions and will then seek to optimize the potential savings as a result.
So, an individual will look at ways in which they can save money. They seek to save on their telephone bill, so a company has the perfect solution. The two parties connect via the blockchain and use Smart Contracts built on the Ethereum platform to complete the transaction and for both sides to get what they are seeking.
In other words, the technical aspect is not that different to the majority of cryptocurrencies out there and it is merely the product that they are offering that changes.
The Financial Aspect and ICO.
When it comes to the financial side of things, then the company is very well organized with their targets and also the various aspects of the ICO. If you wish to invest, then you can do so by using either USD, EUR, BTC or ETH so at least there are different options available.
For the ICO, a total of 60% of all tokens will be for sale. The absolute maximum tokens will be 6,000,000,000 and the price during the ICO has been put at 1 EUR equating to 100 SVD. Also, there is a soft cap for the ICO of 50 million SVD while there is a hard cap of 5.5 billion SVD with the remainder of the 6 billion being used for bonuses when tokens are purchased during the ICO.
(Update 03/06/2018: Their website now shows that they’ve managed to sell nearly 4 billion tokens with just a few days remaining)
Conclusion About Savedroid and the their ICO.
So, what can we say about this project as a cryptocurrency and concept? Well, there is no doubt that they have come up with a good idea that could prove to be popular especially as more and more people become aware of digital currencies. However, they are going to have to show that their bot and AI technology is capable of avoiding those crashes that tend to plague these currencies from time to time.
If they fail to do this, then people will understandably be worried about investing anything due to the risks that would then be involved. Getting around this issue will undoubtedly determine the outcome of the currency.
However, the company has a very strong team and board behind them with an extensive amount of experience working in the Fintech industry. They have worked hard at bringing people together for this project, and that may very well provide some confidence in their ability to produce the results that investors are looking for.
Thanks to this experience, and the product that they are promoting, it is reasonable to say that this cryptocurrency could very well have a future. It will be worth investing some money into the ICO as they have already exceeded their expectations with the Pre-sale, so that does indeed bode well for the future.
Check out further details on their website below: