With our contemporary modern lifestyles, there are plenty of signs that point to people investing less than expected and this may point to less-than savvy financial knowledge. A good example is a growing need for users to spend in crypto markets even though they may not have a lot of money to get them started.
Consequently, finance and fintech ventures are trying to demystify our investing methods by overexposing use more straightforward and low-cost means to build your crypto portfolio. Here's one example of how your spare change could make you create an impressive crypto portfolio
What Is Satochi?
Satochi is a blockchain platform that seeks to take the spare change investment mechanism a step further by allowing users to start investing their change in cryptocurrencies. Without any knowledge on blockchain or crypto investing, Satochi hopes to enable users to spend their spare change in the diversified crypto portfolio that works without having to know much about digital currency investments. Ultimately, Satochi's goal is to diversify the global financial landscape that is imperative and conveniently accessible to every potential investor.
How Satochi Trusted Daily Cryptocurrency Investment Manager Works
Satochi's investment strategy will have the user invest in cryptocurrency through the spare change their have after purchase. The mechanism will need the user to link their credit/debit card to the Satochi app to facilitate the spare change investing.
The process will involve the user spending like they usually do before the Satochi app takes over. The next step would include the app converting the purchases to the nearest dollar value. For example, if the bank purchase is $10.50 the $.50 goes into the investing plan. Later, Satochi automatically invests the spare change into a portfolio of digital currencies.
Unlike the typical notion of enormous investment, Satochi debunks this myth by allowing the user to start investing with even cents. The idea could slowly build up cryptocurrency portfolio.
Satochi intends to offer a user-friendly micro-investment platform that allows the user to easy setup the linking and not worry about picking which cryptocurrency you should invest in since Satochi provides for all those functions.
The Satochi app automatically rounds off the currency and takes the liberty to convert the change to different crypto investments.
While the idea to invest in cryptocurrency seems practical and comfortable, without a personal goal the Satochi app could end up spending every little since it depends on the recurring user's transactions. Therefore, Satochi's mechanism is not compatible with investors looking to build up their portfolios, fast indeed.
Potential Fraud Risks
There is no security from Satochi that their platform is secure enough for the linking with bank accounts. Potentially, this presents risks for the user financial data.
Satochi has not provided the apparent cryptocurrencies they plan to invest their user's spare change, and this begs the question of whether one can make a profit.
Spare change investing is a new concept for crypto investors, and Satochi's theory offers a useful strategy for beginner crypto investors. With limited income and little knowledge on the services, the most novices of users can easily build-up their crypto portfolio without so much effort. However, to honestly realize Satochi's potential would have to wait till the platform's app officially launches.