Seeking to provide the need for an exchange between cryptocurrencies and fiat currencies, Crypterium plans to create a Cryptobank for immediate conversion between them. Currently, Crypterium is having a crowdsale that has raised about $35 million, which will enable the project to build the software infrastructure to bring the liquidity to achieve its goals.
The Cryptobank app to allow for exchanging of cryptocurrencies such as bitcoin with fiat currencies and that will provide other financial services will be available for Android and iOS users. The Cryptobank app will emphasize user-friendliness and will provide users access to millions of merchants globally with a virtual card. Users will be able to purchase goods and services online with ease, and will be able to pay for goods and services at physical spaces such as restaurants and shopping malls by scanning QR-codes. A network subtoken, CRED, will be issued for loans within the network, with a credit rating and interest rates based on the user’s history.
The Crypterium token, CRPT, will be generated during the crowdsale, and will be capped at 300 million. In order to use the network, ownership of CRPT will be required, ensuring that the token becomes a central feature of the ecosystem. Each time a user makes a transaction through the network, 0.5 percent of the transaction value in the form of CRPT will get burned, serving to diminish the overall supply of CRPT and rewarding Crypterium investors.
To entice users to use the network, Crypterium will establish a Loyalty Rewards program, which gives users cash back on purchases made. Each month, 30 percent of Crypterium’s transaction profit will be distributed to CRPT token holders and active users of the network through a Monthly Loyalty Fund (MLF). This, and other benefits of CRPT tokens, will incentivize owning and using the tokens.
The crowdsale for Crypterium will end January 18, 2018. Until then, investors will have the opportunity to obtain CRPT tokens at a discount. Funds raised during the crowdsale will help the project cover operational and marketing expenses. The nominal value of CRPT is 0.0001 BTC, with bonuses allotted depending on how early in the crowdsale the tokens are purchased.
To find more information about Crypterium:
Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=2214098.0