In 2018 the market capitalisation of Bitcoin was more than $171 billion. Popular cryptocurrencies like Ethereum ($106B) and Ripple ($43B), boast equally large numbers.
The massive growth in cryptocurrencies was one of the most talked about business stories in 2017.
Despite this there are many people who would like to save and invest in cryptocurrencies but currently don’t.
Common challenges include the difficulty in moving money into fiat or not knowing how to get started.
Savedroid is a German AI saving and investing platform that wants to help solve these challenges and open up crypto investing to everyone.
Alongside this they are incorporating innovative AI technology which will make this process even easier.
Here’s a look at how savedroid works.
How savedroid works
So we know that savedroid uses an AI algorithm to drive saving and investing recommendations, but let’s break that down into a little more detail, to show how it works.
First the user needs to define their savings goals. These are called “Wishes”.
“Wishes” can be anything but a good example might be to buy a new laptop or to pay for a trip abroad.
“Wishes” are things that the user wants but can’t afford immediately.
Next the user chooses an event which will trigger a saving transaction to occur.
For example, a user might want to tie their gym attendance with their saving goal for a holiday. Every time that they go to the gym and workout for 30 minutes, a saving transaction of €3 could be triggered.
Savedroid app can be linked to fitness trackers and so it will be able to trigger this saving event automatically every time that it occurs.
This set of rules and outcomes is called a “smoove”
A “smoove” always operates on an “if then, then that” basis.
In this case the “if then” is going to the gym and working out for 30 minutes.
The “then that” is to save €3.
What’s really smart though, is that the AI learns about the users goals and habits over times.
It then can offer personalised smooves which will help them to use saving and spending habits which will let them reach their wishes faster.
The goal is to make saving not only easier but also more fun.
Savedroid Initial Token Sale (ITS)
Savedroid will be using the SVD token to enable users to buy services on savedroid. The SVD token is being distributed in an Initial Token Sale (ITS). You can learn more about this below:
savedroid website: https://ico.savedroid.com/
savedroid white paper: https://ico.savedroid.com/savedroid-ico-whitepaper.pdf