Crypterium and its CRPT coin: A starter’s guide
Crypterium was launched in 2013 with the goal of developing a contactless Q-based payments platform. By 2015, the company had created a global payment solution interbank payments and transactions. Increased acceptance and use of cryptocurrencies led the company to launch a mobile cryptocurrency in 2018. As such, the project’s goal seeks to provide millions of mobile users with easy access to cryptocurrencies.
What is Crypterium?
Crypterium’s goal is to revolutionize the world of banking by becoming the first cryptocurrency bank. To do so, the platform will combine the best blockchain and cryptography techniques. Through its platform, the company seeks to introduce a revolutionary method of making payments. Its solution will facilitate seamless and streamlined payments using multiple cryptocurrencies as well as act as a reserve bank for digital assets.
Users will perform payment operations similar to conventional fiat currency. But in Crypterium’s ecosystem, transactions will be controlled using e-wallet cards. Plus the platform supports linkage to fiat currencies making it easy for its users to convert between both assets. As an emergent crypto bank, Crypterium is a revolutionary concept set to revolutionize the world of cryptocurrencies and banking.
Crypterium Coin Price
According to coinmarketcap.com, Crypterium is currently trading as follows: 1 CRPT = 0.447272 USD equivalent to 0.00006489 BTC or 0.00107103
|Start Date||Oct 31, 2017|
|End Date||Jan. 6, 2018|
|ICO Token Price||1 CRPT = 0.00199 ETH|
|Target||47 million USD|
|Available Tokens||300 million|
|Available for Sale||70 percent|
|Max/Min Cap||75 CRPT/Not available|
|Accepted currency||BTC, ETH|
|Active||Oct. 31, 2017|
|Country of Origin||Russia|
|MVP||Available (video on website)|
Crypterium: How it works and its key features
- Smart Contract Based Wallet
- PSI-DSS Certification
- Multi-signature wallet
- Real-time fraud prevention and tracking
- Financial and technical Auditing
- Support for virtual cards using multiple credit card providers
- Integration with platforms such as Gyft, PayPal, We Chat, and others
- Emphasis on the integration of contactless payment solutions such as AndroidPay, Apple Pay, and SamsungPay using QR code scanning technologies
- Access to Crypterium open source API
- Blockchain-based loans
- Creation of mobile cryptocurrency bank
Crypterium Coin: Use and utilities
- CRPT coin will primarily be used to settle bills within the Crypterium platform with later expansion to retailers
- Planned listing of Crypterium coin in major crypto exchanges will help provide a framework for the future expansion in the use of the CRPT coin
- Provide a universal payment platform that supports all types of transactions based on blockchain technology
- Reduce barriers to the adoption and conversion of cryptocurrencies and fiat currencies
- Facilitate the purchase and holding of multiple digital assets
- Eliminate present restrictions and limitations when transferring digital assets
- Simplify the buying and selling of cryptocurrencies and other digital assets
- Facilitate the making of instant payments using mobile devices
- Provide loyalty, cash back, and other customer reward schemes
Crypterium: Platform and technology
Crypterium’s platform is designed to provide blockchain based banking services for cryptocurrencies holder. Just like conventional banks, its platform will enable financial transactions using only cryptocurrencies. Primarily, the platform will target global users of cryptocurrencies. In this way, Crypterium’s crypto bank will revolutionize how banking operations occur.
Its digital solution is built atop the Ethereum blockchain standards and is dubbed Crypto-bank 2.0. To do so, the company has developed a mobile application through which crypto banking transactions will occur. Users will be able to perform all their crypto-based transactions using this mobile app. It is available for both Android and iOS mobile platforms.
To use Crypterium’s mobile app, users must download and install it on their mobile devices. Thereafter, they can initiate transactions using conventional cards based technologies like MasterCard, Visa Card, or Union Pay. After doing so, users can pay for any service using any cryptocurrency at NFC compatible POS terminals.
The Crypto-bank mobile app harnesses the NFC-HFC protocol to tokenize all communications between the app and the host terminal. During a transaction, an NFC terminal reads transmitted data as it would an actual plastic card. Plus, it is expected that this functionality will be expanded to include ATM withdrawals and other standard banking transactions. Subsequently, its platform technology supports functions such as:
- Use of existing infrastructure and international payment tools in day to day transactions.
- Support for traditional payment infrastructure integrated with the Crypterium or its partner technologies.
- Personal or bank account top-ups.
- International transfers of value to and from cryptocurrency accounts or traditional banks.
- Loyalty and reward schemes for Crypterium users.
Crypterium: Team and founders
Crypterium’s team consists of experienced individuals with impressive resumes. Most of its team members have an average of 10 years in fintech solutions. Plus, a collection of experienced finance professionals and executives from across the globe supports Crypterium’s team.
In the past, Crypterium’s team raised over $50 million for fintech projects including PayQr, an independent contactless payment platform, Workles, a digital marking platform, and Bonus Club, a customer loyalty program for publishers.
Crypterium’s story begins with the founding of PayQr in Cyprus. PayQR’s goal was to provide a contactless payment solution for use on any smartphone. And from these humble beginnings, the idea of Crypto-bank 2.0 was born.
Crypterium coins can be stored on the following Ethereum ERC20 protocol compliant wallets:
- Ethereum Mist DApp
- Ledger Wallet
Crypterium: Can you Mine Crypterium?
Regrettably, it is not possible to determine whether it is possible to mine Crypterium at this point.
The first company to launch contactless payment method and technology using QR codes in Eastern Europe. During round one of its fundraising effort, the company raised over $1 million USD.
Launched its universal payment tool for use in processing daily transactions. Crypteriem universal payment tool supports over 300 integrations widely used by e-commerce retailers. During the round two of its fundraiser, Crypterium raised over $7 million USD.
Created its direct payments protocol as a framework for facilitating fast processing of payment within the Crypterium platform. In contrast to other payment protocols, Crypterium’s product levies no transaction fees; instead it focuses on enriching the user experience via reward schemes.
Inauguration of its mobile crypto bank to enable seamless and simplified international low-cost transactions. Its mobile crypto banking platform supports seamless, secure, and value-added services for its users.
Launch of it cryptocurrency based ecosystem. Ongoing development efforts to create all the necessary technologies, frameworks, protocols, and guidelines for implementing its project goals.
Bitcointalk (active forum with 686 posts to date), Facebook (with 32,728 likes), Medium (with 6,400 followers), and Twitter (with 15,700 followers) are Crypterium’s most active channels. Crypterium simultaneously publishes updates, news, and latest developments on Twitter, Facebook, and Medium.
Crypterium: How to buy crypterium
Before purchasing Crypterium coins, you need to have an Ethereum compatible wallet. Crypterium users can opt to use the platform’s Crypterium Wallet or any other ERC20 compliant digital wallet.
But it is important that users understand the pros and cons of each of these wallets and the differences between cold and hot storage. Doing so will help protect users’ stash of digital assets against hacking attempts and security breaches. Below is a systematic guide on how to buy Crypterium.
- Obtain and properly configure your ERC20 digital wallet.
- Purchase any cryptocurrency of your choice for later conversion to CRPT.
- Make a deposit of your cryptocurrency on an exchange of your choice but make sure it supports CRPT.
- After depositing your initial coin, trade and exchange it for CRPT coins.
- Safely store your accumulated CRPT stash in your digital wallet.
Crypterium is a promising project that is expected to revolutionize the use of cryptocurrencies and the banking sector. Users of this platform have many benefits to look forward to. Despite its promising outlook, users can still receive payments in fiat currencies whenever they choose. Plus, it is designed with websites, e-commerce platforms, and retail outlets in mind. Due to its novelty and integration, the platform will surely have many bugs in the initial stages.
The project team is qualified, experienced, and has the support of technical advisory panel. In turn, this makes its offer attractive to cryptocurrency enthusiasts and investors. Also, it is a strong candidate because of the following strong points:
- Only a few projects of its type exist today.
- Sufficient and well-developed documentation with an actual MVP available.
- It has the necessary expertise to bring the project to fruition.
- The project successfully conducted its ICO achieving its funding goals.
On the other hand, Crypterium suffers from the following limitation:
- Inherent risks associated with any blockchain based project
Crypterium: Final thoughts
Crypterium’s ICO attracted a lot of buzz from crypto enthusiasts, investors, and traders. Its idea is groundbreaking as this is a unique niche within the crypto ecosystem. Also, its roadmap seems well thought out making the delivery of this project a certainty. Plus, it has the backing of key crypto foundation as well as influential partners.
Asif is a cryptocurrency enthusiast who’s been writing on the subject since 2014. He also has a keen interest in social engineering and cybersecurity. When not busy writing about cryptocurrency, he can be found reading books and listening to music.