Crypterium is a big initiative as discussed before and more features are being added to it with the progression of time to make its adoption simpler and streamlined. Today let’s observe what the future holds for crypterium and its users.
Relation with the Cryptowallet
Most of the users today store their cryptocurrency in dedicated on-hand cryptowallets. Crypterium’s methodology allows it to easily be integrated with your mobile cryptowallet, allowing it to make simple transactions to and from your wallet without the need of transferring the cryptocurrencies yourself. It simply debits or credits the amount and simultaneously informs you about the transaction on Crypterium’s own Android/IOS application.
It makes it fairly easy for the user as he has access to all his currencies in one place and it gives the user complete freedom to use his currencies as he sees fit. Got more than one wallet? Not a problem at all as crypterium can deal with multiple cryptowallets at the same time while keeping the integrity intact. Crypterium does all this with the help of its SX i.e smart exchange. Let’s look at in detail below.
Crypterium Smart Exchange (CrypteriumSX)
The SX algorithm allows Crypterium to look for the current best market rate for any type of cryptocurrency that the user wants to use for the exchange. Crypterium simply wants the betterment of the customer and wants to grab the best deal he can get. This is all made possible with the help of large database storages which holds all the transactions that take place. Every transaction is specifically observed to identify the predictive behaviors and enhance risk management and in turn making the transaction process better in the future.
The SX is better explained in the presentation below:
Crypterium Cryptobank Features
The basic functionality of the cryptobank is as follows
- Buy and sell most of the common cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple, NEO and many more
- Easy and limitless transfers to other wallets and even bank cards
- Conversion and exchange with other cryptocurrencies
- Payment of daily life utilities and services such as telephone, electricity, Loans, Taxes etc
- Fiat transactions
- A comprehensive report on all the past transactions
Some other services which will be added with time includes
- Common everyday banking services
- Direct transfer of fiat and crypto currency from one user to another
- Pay accounts
- Bank statements
Payments using QR Code
Making payments is equally as important as receiving them. Crypterium makes this easier by helping all its customers (whether it be a large organization or a single user) with the use of a digital contactless payment technology which uses POS terminals to receive payments.
The team over at crypterium has 5 years of experience in the cryptocurrency and fintech sector and it has enabled over 350,000 payment transactions to be achieved with the help of technologies they have introduced. Most of these payments come from Restaurants, Shops, Online stores, Traders and many more. They have used the same contactless payment technology which they plan to implement with crypterium, which will help them reach a larger part of the society.
The solution developed by the team lets it replace expensive and restricted POS terminals and acts as an alternative for the user. It’s fairly simple as it only requires the user to download the crypterium app which produces different QR codes for making payments and transactions affordable and easier. The buyer can then use the generated QR code to complete the payment in mere seconds, plain and simple.
The Crypterium open Platform
The team at crypterium believes that the future times will require a lot more than some selected cryptobanks and most organizations would like to have a cryptobank of their own. For the achievement of this purpose, they are providing an open platform to developers which will help them in building their own products using the crypterium API. The developers are given the option to add most of the mobile platform features that are available, to their product. Some of these features can be
- Crypto Exchanges
- Loyalty Programs
- Notification System
- Transaction History
The diagram below shows the extensive range of modules that the OpenAPI will be providing to the developers
Crypterium plans to provide these modules but they do not promise anything upon release as the market-needs, regulations, rules, and laws may cause a hindrance in the successful application of the API. The team can also face issues with technical performance and advises to treat these as bonus solutions as they are not essentials for the working and functionality of the CRPT token.
Link of interest:
Announcement Thread: https://bitcointalk.org/Crypterium