Crumbs

Crumbs

Turn spare change into crypto 🚀🌕

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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
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Crumbs gallery image
Launch tags:iOS•Fintech•Tech
Launch Team
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What do you think? …

Matteo Gamba
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?
Patrick Mrozowski
POINT
Maker
@sliver86 Our fee structure is 1% of transaction amount + $0.15 for deposits and 1% of transaction amount + $0.25 for withdraws.
Spike Spieg
@sliver86 @patrick_mrozowski Do I need to open an account on GDAX? Tried the app and don't really get it.
Patrick Mrozowski
POINT
Maker
@spike_spieg You do not need an account with any existing exchange in-order to use the Crumbs app.
Spike Spieg
@patrick_mrozowski Thanks for the reply. So you process the payment and hold our cryptocurrency, not GDAX. Right?
Patrick Mrozowski
POINT
Maker
@spike_spieg Users crypto-assets are stored offline in multi-sig cold storage wallets.
MS Conair

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.

Patrick Mrozowski
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.
amin benselim
any plans for an android version ?
Patrick Mrozowski
POINT
Maker
@aminbenselim hoping for early next year!
Damien Tsnkff
Damn .. I love this one, and for a reason: I started working on the exact same thing a few days ago!
Honey Raj Varma
@patrick_mrozowski Great idea, similar to acorn and micro-investments apps but for cryptos - I can see this app becoming Unicorn HUGE if the following things are done fast. Would love to talk to you more about it :) See few ideas below: 1) Offer free or minimal trade fees (like how Robinhood captured the market by offering free stock trades) 2) Add both a manual, automatic and AI (eventually) trigger functionality so that those who have buy and sell criteria can decide investment strategy and execution. 3) Ability to buy or sell instantly (coinbase's instant, no waiting couple hours - unless the crypto servers themselves fail) and lots more. Would love to talk about this more!
Patrick Mrozowski
POINT
Maker
@raj_ventures Hey! We are currently working on #2 in the next month Crumbs will offer users to ability to select how much of which crypto's they want to invest in. We are also adding some new cryptos to our platform like Ripple, Stellar, and a few others! Feel free to email me patrick@crumbsapp.io if you want to further discuss
Josef
TLDR Crumbs pays for all fees, at a 1.99$/month subscription. If you pay out your Bitcoin only once a year, the network fee Crumbs pays is higher than the annual subscription income. What‘s more, funds are stored in Crumb‘s GDAX account. Who guarantees me that Crumbs does not walk away with my Bitcoin if the business goes bust? Sorry, but this looks a bit sketchy.
Patrick Mrozowski
POINT
Maker
@josef_moser Hi all of Crumbs balances will be routinely audited when we re-launch to ensure all balances are in good standing. We take user security and privacy very seriously which is why all funds are stored in multi-sig cold storage wallets.
Leon Hitchens
So if you cover the fees how does the app make money? It would seem your going to loss money investing other peoples money?
Matteo Gamba
Wise
@leonhitchens @patrick_mrozowski I'm still curious to see if the business model holds. isn't Coinbase charging a min of 0.99$ per transaction?
Rookie☄
@sliver86 they use Gdax, 0.25% on market orders, no fee on limits.
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