Crypterium : What It Is and How It Works

The digital age is now and the demand for cryptocurrency is higher than ever. The online transactions worldwide involving cryptocurrencies have increased by 11% in a single year alone and according to experts, crypto economy will be worth more than 3 trillion dollars in 2020!

What is Crypterium?

With the increase in the growth rate and demand of cryptocurrency, every user and customer today wants to handle his cryptocurrency like he handles his everyday currency. This is only achievable if the user is provided with dedicated banking services which are designed solely for the purpose of handling cryptocurrency. With 3 million daily cryptocurrency users, services like faster transfer speeds, overseas transfers, lower transaction costs and so on are a must requirement.

Enter Crypterium. The Crypterium cryptobank has been designed for the purpose of handling all your cryptocurrencies on a single platform and meet the basic banking requirements of the modern cryptocurrency era. The developers have made this easier by creating a unique android and ios app which will help you set up your account in mere seconds compared to other online banking solutions which can take weeks to process your request and provide you with a card.

Crypterium comes with a lot of benefits which include no transaction limits, lower transaction costs, fiat based transactions and the best part is that it works with over 42 million payment terminals, stores and payment points.

The Team

The team consists of professional digital currency experts who have dedicated more than 10 years of their lives working in the cryptocurrency sector, developing easier methods for the handling of cryptocurrency and introducing better cryptocurrency banking options. The team has invested over $50 million in the sector and are the founders of some of the well-known projects such as PAYQR, Workle and Bonus Club.

The Crypterium team has been working on their services platform for over 5 years and they plan to release it in Q4 of 2017. The team has developed their own cryptocurrency called CRPT which will basically be used for all the transactions based on the mobile bank. 1 CRPT is 0.0001 BTC as of now and it’s publicly available for prepurchase.

The Crypterium Token – CRPT

CRPT is the core of the Crypterium cryptobank. All the cryptocurrency and fiat based transactions will be made possible on the bank with the help of CRPT. Currently, for each transaction, a value of 0.5% of the transaction in CRPT will be used as the transaction fee which is better known as “fuel” in the Crypterium terminology. The transaction fee is totally transparent to the user and the transaction takes mere seconds while simultaneously the bank will automatically search for the best exchange rate available at the specific time. The best transaction rate will benefit the user and the small 0.5% of the transaction fee will almost be negligible as the best rate will cover up for the most of it.

Crypterium also provides loyalty rewards for its customers. Most of the merchants today are charged for acquiring services, these charges are calculated as a percentage of the payment made and the fee can be as high as 5-6% depending on the provider. Crypterium makes this better by only charging the merchant 0.5% to 1% while adding 0.15% of the charges to the loyalty program reward. The more the transactions, the more points are added to the loyalty program. These points are then awarded in different styles based on the number of CRPT a user owns. There are 4 types of users which include Bronze, Silver, Gold and Platinum and the loyalty award is better explained below.

CRPT can be prepurchased before the launch in Q4 2017.

CRPT ICO

The owners of Crypterium arranged a special Initial Coin Offering event for the prepurchase of CRPT tokens which started back on the 31st of October. CRPT is based on the ERC20 token standard. It is valid forever and is the property of the respective owners.

At launch, a single CRPT will be worth 0.0001 BTC and the following exchanges will be used for measuring the equivalent prices in other Cryptocurrencies; Kraken, Bitstamp, Bitfinex and Poloniex.

The tokens will be distributed followingly at the ICO

70% will be distributed among the general community
15% will be allocated for marketing and loyalty purposes
9% will be reserved for the founders
3% will be reserved for the marketing team
3% will be reserved for ICO partner advisors

The 15% that has been allocated for marketing and loyalty purposes is to be released gradually for the enlargement of the user base and for the aforementioned loyalty program.

Crypterium assures the tokens will be under the ownsership of the buyers no later than 25th January 2018.

Link of interest:

Website: https://crypterium.io

Announcement Thread: https://bitcointalk.org/Crypterium

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