Savedroid – Making Crypto’s Accessible to Everyone

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Savedroid – Making Crypto’s Accessible to Everyone

What is Savedroid?

Savedroid is an app on Android and iOS that helps people set money aside and cut down their spending. Users link their bank account to the app, and when a certain condition is met, a set amount will be transferred to a savings account. Conditions can be quite straight forward, like a certain percentage of your purchase on Amazon will be put in your savings account, or for instance when you run for 3km. The conditions can also be quite humorous sometimes. One example is that Savedroid will put money into your savings account for you every time Donald Trump tweets. This way the US president can probably help people all over the world improve their financial health. Users are very flexible in setting the conditions of saving and the amounts that will be transferred to the savings account.

The Savedroid app also includes artificial intelligence that will learn your spending patterns, and will be able to help you with setting amounts you can save. Savedroid also wants to help you save money on general expenses, like your subscription for your cellphone and your utility bills. Savedroid will continuously look for the best price for the current subscription you have, or will find you a better subscription for the same price. Savedroid is not only a micro-savings simplifier, but also helps you optimize your personal finances.

Savedroid targets the average consumer that does not want to spend their time doing financial research. They do not address the small elite group of hardcore financial experts like a lot of other fintech companies do, simply for the reason that Savedroid sees a much bigger market in the average mobile user. That they are trying to reach this target group is well reflected in their tone of their whitepaper. So how good are they at reaching their target group?


As you can see in the infographic above, they have over 200.000 downloads on Android and iOS combined. 90% of their users are within their target group of people between 18 and 44 years old. And over 10 million euros have been saved by users of the app since its 2016 launch. The Savedroid ICO is an ICO that is backed by an already existing platform that has a fair amount of users already. ICO’s that already have a working platform with users is always a plus because this means the company is usually sound, knows how to market their product and moreover, already has a working product.

Savedroid is part of the Deutsche Börse fintech hub in Frankfurt, in fact they were one of the first tenants. Savedroid has access to the network of Deutsche Börse, meaning they are part of a Venture Network with over 400 members from all over Europe. Deutsche Börse brings together young growth companies and investors on this platform.

The savings accounts are managed by another large partner of Savedroid; Wirecard Bank. Wirecard Bank is a publicly traded company with a market capitalization of 10 billion euros, making the stock one of the top five stocks on the German technology stock index TecDAX. The partnership with Wirecard was closed only a few months after the foundation of Savedroid, and thus delivered the first mobile app with a fully deposit secured savings account.





Visit their website by clicking the picture below


Why do they do an ICO?


The initial reason for Savedroid to get into cryptocurrencies is stated in their whitepaper as this:

“Honestly, the user experience along the entire user journey completely sucks – and, even worse, it keeps many from getting into cryptocurrency investments. No doubt, there are great crypto companies with cool products out on the market. But we at Savedroid firmly believe that dealing with cryptocurrencies has to become much easier in order to reach the next growth step and make cryptos available to the masses.”

Making it easier for people to get involved in cryptocurrencies is exactly what they are going to be doing with their app. Currently they only offer savings into fiat currencies, and not really any investing options. Savedroid is going to upgrade its artificial intelligence and offer a self-learning algorithm to invest in not only cryptocurrency portfolios, but also derivatives and ICO’s, all directly in the Savedroid app. Diversifying is key as always, and Savedroid offers exactly that.

Savedroid is trying to take a sort of technical barrier away that is preventing people from entering the cryptocurrency markets. Normally people will have to worry about selecting and registering at a crypto exchange and creating the right wallets and keep these wallets secure. After registering in the Savedroid app, users can start saving in cryptocurrencies right away. Savedroid will eliminate the current barriers and will be able to provide mass market users with easy access to cryptocurrencies.

Savedroid will also become a crypto exchange of sorts. Because whenever there are people that are trying to sell a certain currencies into another, first they will try to swap the currencies within the platform, and thereby allowing people to trade cryptocurrencies at their fingertips without having to worry about cumbersome crypto exchange orders. The goal of Savedroid is to build and ecosystem where users can swap cryptocurrencies at lowest possible cost.


In the chart above you can see how the proceeds of the ICO will be allocated. Half of it is going to be allocated to marketing to help the platform grow. Usually with similar ICO’s you would see that the company needs to invest a lot of their proceeds into developing their product and/or integrating it with blockchain. But since Savedroid already has a functioning app, they will not have to allocate just as much to development and can focus their proceeds in growing their number of users.

About the Token


The Savedroid token (SVD) is going to be the only currency that will accepted as payment for crypto related services within the platform. As you can see in the image below, there are multiple fees that users will have to pay for using the platform. The fees are either fixed or are based on a small percentage of the value of a transaction. All of these fees are to be paid in SVD, meaning that if the platform becomes popular, the demand (and the price) for the tokens will be high.


The fees will be calculated in SVD, but will be adjusted to the current market value of the token. This means that a higher token price will eventually result in a lower quoted service fee to make the pricing constant. Part of the tokens that are paid to Savedroid as fees will be burned. They do this to make sure that over the long term the tokens will appreciate, since this will attract people to their ICO. The percentage of tokens that will be burned is going to be calculated with this equation, created by the creator of Ethereum; Vitalik Buterin.

The tokens that are paid to Savedroid as fees will be put into a big account from which they will also sell tokens back to users on the market. The size of this account is very likely to be reasonably big, which would give Savedroid power over their token market price. They intend to use this power to the benefit of their users. If the token price appreciates a lot within a short period, Savedroid is probably going to step in and offer more tokens than usual. They do this to make sure that people do not suddenly have to pay a really high fee for transactions or a monthly fee. So this might sound a little bit scary, but the way Savedroid intends to use it should be assuring for people that will use the platform. What you can tell from this information is that this token will not be a short term investment opportunity where you can make a lot of money quickly, the token is designed to have a steady, yet rewarding appreciation. The proceeds from reselling SVD tokens will go to further developing the platform.


The image above displays a projected scenario of the price of the token. This is likely not the correct scenario because Savedroid still has to see the variables of the equation to calculate the burning percentage, which will impact the token price. They have provided a downloadable Excel sheet where you can view different scenarios:


About the Token Sale


The main token sale will be held from the 9th of February until the 9th of March, or until the hard cap of 6 billion tokens is reached. The price of the tokens is €1 for 100 SVD. The minimum contribution is 1000 SVD (€10) and the maximum contribution 10 million SVD (€100.000). The tokens can be held within the platform but are also supported by any ERC20 wallet like MyEtherWallet. When joining their Telegram group you will be rewarded with 100 SVD tokens.

The tokens are allocated as follows:


Savedroid Card


To further enhance the ease at which people can get into crypto’s, Savedroid is also creating a credit card that can be linked to a user’s Savedroid app. This will make it incredibly easy to actually use the funds that are accumulated in the form of crypto’s which will bring great accessibility to cryptocurrencies in general. But, to use the card, you do not necessarily need to have the Savedroid app, or have a savings account with them. External wallets that are not connected to Savedroid will also be compatible. Meaning that anyone would be able to easily spend their crypto’s on anything, anywhere. And the great thing about this is that people that use external wallets will still have to pay the fees in SVD, bringing even more demand to the tokens. We see this as a huge upside because it feels a little bit like killing two birds with one stone. The addition of the card will make using crypto currencies a lot easier, and definitely makes it more attractive for anyone to get involved.


Bottom line


It all comes down to whether we think the platform will be a success or not, and thus lead to an appreciation of token price. As a matter of fact we do believe that the platform will be successful based on everything we have written above. The company is very sound and has a great network and amazing partnerships. The team is very competent, and has already shown so with the rapid expanse of their fiat-only platform with over 200.000 downloads. Most of the proceeds from the ICO will be spent on marketing, and thus will be spent on creating more demand for the platform, and thereby create more demand for the token. From looking at the tone of their whitepaper and their posts on social media, we can tell that Savedroid knows exactly how to address their target group, so we believe that their marketing campaigns will be successful. There are already over 40.000 people in the ICO’s telegram group, which is about the same number as WePower, which came to be one of the most succesful ICO’s so far. Overall, we are very positive about this ICO.


Click the picture below to participate in the ICO



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