Bitcoin and Cryptocurrency have been rocking the news, especially in 2017. Both are still expected to make big news in 2018 and a lot more people are starting to learn and invest their money into cryptocurrency.
This has also brought about many new products and services that cater to the cryptocurrency market. With ICOs, investors and labs to help these entrepreneurs, a new generation of crypto-products are emerging.
Crypterium is a cryptobank that aims to provide an all-in-one integrated service for all cryptocurrency users. As more people start owning cryptocurrency, there should be dedicated cryptobanking services for everyone. It has many functions and uses, notably cryptocurrency acquiring and blockchain-based loans.
Unlike banks that take weeks to process a request or issue your card, there is no waiting time on Crypterium. We are glad that it allows you to process both fiat and crypto-based currency for transactions instantly, allowing it to be interchangeable, as well. It also works for international transfers, so you are able to get instant payment transfers overseas.
Furthermore, their direct debit protocol ensures that you, as a user, will not incur any transaction fees. This is good news to everyone, as nobody likes to pay extra just for a transfer service.
Crypterium also makes use of Contactless Payment Technology, which was initially done in 2013, in the form of QR Code scanning. Over the years, technology has evolved and we as consumers can use Apple Pay, Android Pay, Samsung Pay, QR code mechanics and many others.
Moreover, you are able to use it to pay for your shopping purchases on many e-commerce platforms that have PayPal, WeChat and Alipay. That’s right, there are many shops available that allow you to use Crypterium for payment.
How Does It Work?
First, you go down the Crypterium bank mobile app that is available for iOS and Android. It provides you with access to 3 cryptocurrency wallets, namely Bitcoin, Altcoin and digital assets for ICO projects.
After you have registered your account, you are able to transfer your currency to the crypto bank. The transaction will show your balance in whichever fiat currency you choose from, such as US dollars, RMB or Euros.
Then, you will immediately be issued a virtual card, with either Visa, Mastercard or Union Pay. With your virtual card, you will be able to perform transactions with retail chains and online payment systems. Not only are you able to use it to pay, you may also withdraw and deposit cash with ATMs that use contactless payment.
Cost and Price Plans:
Although there is no direct user-based transaction fee, Crypterium uses CRPT tokens as part of their funding. CRPT tokens are demanded from every transaction in the cryptobank. 30% of Crypterium’s merchant commission will be used to thank the holders of CRPT tokens. You will also get a chance to take part in a monthly loyalty fund, where acquired CRPT tokens are split amongst current token holders.
For merchants, they are only charged 0.5% to 1%, with 0.15% added to the loyalty program. The number of points in the loyalty programs increase when there are more transactions, as well. This is much lower than the usual 5% to 6%.
Currently, you are able to contact Crypterium via their email which is [email protected], or send them a message on their Facebook page.
As the platform is relatively new to the market, there are some people who have complained that they have not received their coins, or there is a lack of solid customer service. However, they are backed up by a very strong team and they are open to third-party developers, as well, which is important in the world of cryptocurrency.
Competitors and Alternatives:
There are a few competitors in the market that provide a similar service, such as Crypto Bank, Global Bank and Dataruis. Crypto Bank is a decentralized system based on blockchain technology.
On the other hand, Global Bank is founded by experienced experts and professionals in the industry. They have raised millions of dollars for their ICO so far. Lastly, the Datarius cryptobank serves as a link between borrowers, lenders and other services, such as trading terminals and managers.
Where to Buy?
You are able to download Crypterium on the App Store for iOS and Google Play Store for Android.
In conclusion, Crypterium has a lot of potential to make it big in the cryptocurrency market. Although there are upcoming competitors, they have a strong team and good ideas for the application, paving its way for success.