Crumbs

Turn spare change into crypto 🚀🌕

3 followers

Turn spare change into crypto 🚀🌕

3 followers

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Crumbs lets you turn your spare change into a portfolio of crypto assets. We make investing in crypto assets a mindless and automated process. 1. Link a debit or credit card 2. Select a strategy or create your own 3. Mindlessly grow a impressive and diverse crypto portfolio

Launch tags:iOS•Fintech•Tech

Launch Team

AWS Startup AdvisorPersonalized AWS guidance that meets you where you’re already building

Promoted

Wise

@patrick_mrozowski how much of the invested sums is eaten up by fees? Especially if you go through Coinbase... don't they have a minimum fee?

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9yr ago

POINT

Maker

@sliver86 Our fee structure is 1% of transaction amount + $0.15 for deposits and 1% of transaction amount + $0.25 for withdraws.

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9yr ago

@sliver86 @patrick_mrozowski Do I need to open an account on GDAX? Tried the app and don't really get it.

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9yr ago

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Maker

@spike_spieg You do not need an account with any existing exchange in-order to use the Crumbs app.

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9yr ago

@patrick_mrozowski Thanks for the reply. So you process the payment and hold our cryptocurrency, not GDAX. Right?

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9yr ago

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Maker

@spike_spieg Users crypto-assets are stored offline in multi-sig cold storage wallets.

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9yr ago

A couple of question.

Whats the fees?

why do one need bank when mostly we pay by credit cards. Why bank needs to be connected but not credit card. Is there any video all how this process work.

How can one invest other crypto XRP NEM etc.

Pros:

Good idea

Cons:

Many questions.

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9yr ago

POINT

Maker

No fees we cover those. You bank account needs to be connected as the funding source, since you can't withdraw to or send money back into a credit card typically, but we are adding support for credit cards. Also looking into adding more options in terms of crypto so let me know what Crypto you would like to see on the Crumbs platform. Looking at XRP, Stellar, Monero, and a few others.

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9yr ago

IronMic

So if you cover the fees how does the app make money? It would seem your going to loss money investing other peoples money?

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9yr ago

Wise

@leonhitchens @patrick_mrozowski I'm still curious to see if the business model holds. isn't Coinbase charging a min of 0.99$ per transaction?

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9yr ago

@sliver86 they use Gdax, 0.25% on market orders, no fee on limits.

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9yr ago

Cryptoradar

TLDR Crumbs pays for all fees, at a 1.99$/month subscription. If you pay out your Bitcoin only once a year, the network fee Crumbs pays is higher than the annual subscription income. What‘s more, funds are stored in Crumb‘s GDAX account. Who guarantees me that Crumbs does not walk away with my Bitcoin if the business goes bust? Sorry, but this looks a bit sketchy.

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9yr ago

POINT

Maker

@josef_moser Hi all of Crumbs balances will be routinely audited when we re-launch to ensure all balances are in good standing. We take user security and privacy very seriously which is why all funds are stored in multi-sig cold storage wallets.

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9yr ago

GrowSurf

Can you describe how the year-end tax reporting looks like? Will you provide the necessary document(s), similar to what Acorns does?

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9yr ago

POINT

Maker

@kevinyun Great question, right now there is still some grey area surrounding the taxation of crypto gains, but as we grow we defintely plan to provide users with the proper tax forms.

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9yr ago

@patrick_mrozowski This is cool, but after trying to download via iOS and your site redirect to iTunes dl, it says app not available in US ??

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9yr ago

POINT

Maker

@loganrspangler Hey Logan! We are working on transitioning to a new payment processor and did not want to take on more users until after we launch the new app (Summer 2018).

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9yr ago

Costume Wall

@patrick_mrozowski Great to see some competition in this space. What sets you apart from similar apps like Coinflash and Coinseed? Also, is the only option to cash out or can you transfer the crypto to an alternate wallet as well?

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9yr ago

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