Roobee Enabling Everyone to Enter Investing World?
So prior crypto i literally maybe had 1 experience to investment world, i never found stocks that accessible or interesting, with crypto i got really excited though in general. (Originally published by in Medium)
And speaking of accessibility is something that Roobee is trying to fix with their investment platform/app that allows people to buy stocks, etfs and in future crypto too with low as 10$ and this will allow everyday joe basically access investing in to top companies rather easy just by filling KYC and loading their account balance with either bank transfer / credit card / crypto and get purchasing stuff.
Traditional investment platforms are quite rare in crypto space, which could connected the two worlds. So i think Roobee does give something that is rare/unique in the space.
They also have their own chain called RoobeeChain and ERC20 token as well which is purchasable right now in KuCoin. Alternatively you can also check out KuCoin play and join social media bounties to get a stake of 800k roobee reward, which will be paid to KuCoin accounts for people who place in top 500 in the list. There is still couple of days time to join! so hurry!
What i do find interesting about roobee services is machine learning AI that will give tailored recommendations for users based on their previous purchases and other data. So i guess if you had bought Coca Cola shares it might recommend Pepsi shares?
Also they have rating system for stocks, which users can contribute to, i’m not sure is it a bot proof service — since there could be people maliciously giving good ratings for their project so they get more investors? Well remains to be seen.
In terms of sales IEO and initial investment numbers were great for Roobee so there is clearly people who are very bullish about it to be honest.
In August 2018 a crypto whale dubbed “200M_trader” by Bloomberg contributed 10,955 ETH (about $4.5m) to Roobee. In 2017 Bloomberg reported that this same contributor made $283 million from a $55 million investment in one month. (The contributor prefers to remain anonymous)
Also IEO was also sold out and managed to gather 20 BTC worth of funds. This allows ROOBEE to scale their plans and add more features. You can request IEO invite from their main website or just buy ROOBEE from KuCoin and other exchanges where it is currently listed.
One of the things is not just accessibility that roobee is trying to tackle, but it is also wanting to erase explicitly high fees that many traditional stock platforms currently have. Currently, management fees, success fees and other financial ‘services’ are cutting into investor profits a lot.
So Roobee will be providing average 0.6% fee on transactions, which is significantly lower compared to majority of traditional alternatives out there.
Who knows Micro-investing might become the next big thing? All i know is that more accessible, easier and less hassle free it becomes, more people will be investing traditional stocks, etfs and crypto as well.
Roobee is showing direction for much easier investment world, which might force other players in the space adapt to the situation or lose portion of their market to roobee.
That is pretty much my small rundown of Roobee project there is lot more to cover on their website, which includes all their future plans at their roadmap and i also advice looking at the whitepaper since its holds lot of solid data, info, investors, team and all things you really want to know.
If you have any questions about the project please leave comments down below!