Providing cryptocurrencies to mainstream everyday users, will require dedicated cryptobanking services. Only once a person is able to use cryptocurrency in the same way that they use any other currency, will all of the benefits of cryptocurrency, such as lower transaction costs, speed of payment, removal of national boundaries and so on, become real. There are already 3 million daily users of cryptocurrencies, a number that is expected to exceed 200 million by 20256.
The demand for cryptocurrencies exists now and will grow at an annual CAGR of ~70% for the foreseeable future. The potential to satisfy this demand is perhaps the most exciting banking development of the past 100 years and the prize for those who are successful is a place on the global banking landscape at a rate of growth and a worldwide presence that can never be matched by any traditional banking development plan.
The Crypterium Cryptobank will be a first step in satisfying this demand. It will be made available for download via the IOS or android marketplace and is planning to be ready-to-use on mobile devices immediately. Unlike conventional mobile banks that take weeks to process and issue cards, the Crypterium Cryptobank provides an instant processing engine for both fiat and crypto based currency transactions while enabling inter-changeability between the two.
With Crypterium’s digital bank customers will finally be able to use cryptocurrencies to pay for fiat based goods without transaction limits and with low commission on any of the world’s existing 42 million payment terminals and many internet stores and payment points. Crypterium’s technology platform is developing to be based on algorithms that allow for the most efficient exchange rates matching across natural peer-to-peer flow as well as third party Crypto-exchanges. This is planned to be quickly followed by a range of complimentary banking services from simple Peer to Peer payments to Cryptocurrency backed lending.
|A Brand New Cryptoeconomy|
Global demand of cashless payments continues to rise at such a rate that the end of cash as the payment of choice is now a stark reality. The number of worldwide cashless transactions was over 430 billion in 2015 whilst the rise of mobile payments is expected to exceed $3.8 trillion by 2020.
As people change the way that they interact with money, we have also seen the introduction of a brand-new form of money, cryptocurrencies. It is less than 10 years since the creation of the Bitcoin, the world’s first digital currency that in turn built a brand new financial ecosystem called the blockchain. Today there are over 1,000 digital currencies8 , known as cryptocurrencies, and that number is growing every day.
The advantages of cryptocurrencies over traditional fiat currencies are numerous and impossible for fiat currencies to match. Today a transaction between two people in different countries can still take several days and cost the parties a significant share of the money transferred (the average cross border transaction fee is 7.45%9 ) as each party in the chain, of which there are many, requires a small margin for their efforts. This can now be done in seconds using cryptocurrencies via the blockchain for practically zero cost and more securely than ever before.
|CrypteriumSX (Smart eXchange)|
Crypterium’s technology platform is based on algorithms that ensure the most efficient bid-offer matching across natural peer-to-peer flow as well as third party crypto-exchanges. All historical transactions are stored in a dedicated data-warehouses that continuously analyses the data to enhance risk management and identify predictive behaviours, and in turn enable Crypterium to optimize the cryptocurrency exchange process and better educate the customer on possible payment strategies, for example, it may highlight different payment mixes depending on the current cryptocurrencies valuations. In other words, everything possible is done to ensure that the customer gets the best deal.
Upon launch, a single CRPT token is valued at 0.0001 BTC (due to the USD equivalent value of a single Bitcoin this is a more convenient measurement of value). For equivalent prices in other cryptocurrencies, the following exchanges will be used; Kraken, Bitstamp, Bitfinex and Poloniex.
15% of tokens allocated for marketing and loyalty purposes will be gradually released to enlarge userbase and to fulfil Monthly Loyalty Program.
Crypterium is focused on delivering those products that support mass scale adoption as quickly and efficiently as possible and thereby simultaneously delivering value to CRPT holders.
The final 15% of tokens will be distributed amongst the project team, advisors and the participants of ‘bounty’ campaign.
Crypterium ensures the existence of tokens in the ownership of people who will purchase tokens no later than 25th January 2018 (23:59:00 UTC-4), in case of providing by that people all the necessary account details. Distribution of tokens can be conducted before 25th January, but tokens will be inactive for usage and transfers. All possible functionality of tokens will be active on 25th January.
Purchase of tokens via wire transfers will be stopped in 10 days before expected date of ICO completion. People, who intended to use this transfer method should deposit all funds before that date or use other transfer methods (BTC, ETH, LTC),
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