Cryptocurrency micro-investment and portfolio management platform Coinseed has raised $1m in just 12 hours of its ICO.
The platform works by connecting a bank card to the app, which will then collect any spare change and invest it into a portfolio of cryptocurrencies. Users can start investing from as little as $5, and a portfolio is ranked by its returns to help other users get a better understanding of the market and investing.
A user is able to build their own portfolio, and any time they use their bank card the transaction will be rounded up to the nearest dollar with the change being used to further invest in the portfolio.
The CSD tokens are worth around 0.002 ETH and will be sent and received like other cryptos on the platform.
Following the ICO, the company will look to launch the account integrated debit cards and enterprise solutions for companies, according to its roadmap. Later in the year, the Coinseed will look to implement user generated automated bots for investing and a bot ranking system.
Last month, fellow cryptocurrency investment platform Flipside Crypto collected $3.4m in an investment round led by True Ventures. The capital was raised to support the development of its algorithm-based investing solution, which offers portfolios and data for the cryptocurrency market.
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