CRYPTERIUM : A Cryptobank for Everyone

- Januari 02, 2018

Crypterium looks like to be the next big thing

Keith Teare, Co-founder of TechCrunch

What Is Crypterium ?

Providing cryptocurrencies to mainstream everyday users, will require dedicated cryptobanking services. Only once a person is able to use cryptocurrency in the same way that they use any other currency, will all of the benefits of cryptocurrency, such as lower transaction costs, speed of payment, removal of national boundaries and so on, become real. There are already 3 million daily users of cryptocurrencies, a number that is expected to exceed 200 million by 20256. The demand for cryptocurrencies exists now and will grow at an annual CAGR of ~70% for the foreseeable future.

The potential to satisfy this demand is perhaps the most exciting banking development of the past 100 years and the prize for those who are successful is a place on the global banking landscape at a rate of growth and a worldwide presence that can never be matched by any traditional banking development plan.

The Crypterium Cryptobank will be a first step in satisfying this demand. It will be made available for download via the IOS or android marketplace and is planning to be ready-to-use on mobile devices immediately. Unlike conventional mobile banks that take weeks to process and issue cards, the Crypterium Cryptobank provides an instant processing engine for both fiat and crypto based currency transactions while enabling inter-changeability between the two. With Crypterium's digital bank customers will finally be able to use cryptocurrencies to pay for fiat based goods without transaction limits and with low commission on any of the world’s existing 42 million payment terminals and many internet stores and payment points. Crypterium's technology platform is developing to be based on algorithms that allow for the most efficient exchange rates matching across natural peer-to-peer flow as well as third party Crypto-exchanges. This is planned to be quickly followed by a range of complimentary banking services from simple Peer to Peer payments to Cryptocurrency backed lending.

Crypterium aims to meet the banking needs of the Cryptocurrency Era.

MOBILE CRYPTOBANK

Mobile Contactless Payments

Physical bank branches, plastic payments cards, your personal neighbourhood banker, are all things of the past. Now everything is digital, mobile and contactless. Crypterium is building a new digital solution to Cryptocurrency era, that does mostly the same things as the current mobile bank providers, but faster, cheaper, safer using cryptocurrency on the decentralised blockchain.

As soon as a customer downloads the Crypterium mobile banking App customers will be able to start

to make transactions in current VISA, Mastercard or UnionPay infrastructure practically instantly. Gone are the days when you need to apply for a debit card and wait weeks for it to be delivered. Customers will be able to instantly pay in certain major cryptocurrency (at least BTC and ETH) or in ERC20 standard tokens for any product or services at any POS terminals (there are already over 42 million installed throughout the world) that are fitted with NFC (near field communication) via the Crypterium mobile banking App.

Crypterium uses NFC HCE (host card emulation) protocols to tokenise the data on the virtual payment card and in turn the POS terminal reads the connections as if it were a standard plastic card.

Practically any NFC payment service, such as Apple Pay, Samsung Pay, Google Pay and a host of other providers, can now be used to pay with cryptocurrencies and as far as the retailer or online store is concerned, they are paid in the currency of their payment order. This capability possibly extends to ATM cash withdrawals and most other standard banking activities.

Today it is practically impossible to pay for your daily coffee, the morning newspaper, or your utility bill with cryptocurrency. Of course, a cryptocurrency owner could make an exchange of cryptocurrency on one of the exchanges, wait for confirmation that it is completed, then wait for the transfer of funds to their nominated account and so on. But who in all reality would do that to buy a coffee? With Crypterium’s mobile banking app that changes instantly. The Crypterium mobile banking app does all of that for the customer. From any cryptocurrency that are preselected by the user in Crypterium App, perhaps in different percentages depending on their current trading value, Crypterium does all the communication and ultimately conversion to and payment in fiat without the user having to do anything other than bring up their smartphone to the NFC terminal and press go. Only the exact number of cryptocurrency in the order and ratio prescribed are exchanged to meet the payment needs.

Crypterium Cryptobank Functionality

Software for IOS, Android or Windows Phone smartphones or tablets with “standard everyday services”, providing opportunity to use (get and transfer certain cryptocurrencies, including BTC and ETH), and conduct settlements related to fiat currencies. Examples of such services are:

Transactions in current infrastructure of trade and services outlets all over the world via international payment system (VISA, Mastercard for example)
Transactions in infrastructure of trade and services outlets connected to Crypterium or being Crypterium partners’ infrastructure
Replenishment of personal card or bank account
International transfers to cryptocurrency accounts or bank accounts, including bank cards, without restrictions (other than those applied for anti-money-laundering purposes)
Special offers for Crypterium’s users in Crypterium partner shops

This type of functionality is planned to be available for use in December 2017 – January 2018

Tokenholder benefits

CRPT Token Properties

CRPT— “GAS” in Crypterium transactions

0.5% from every transaction in CRPT tokens is “burned” forever for conducting the transaction. “Burning process” is decentrally regulated by smart-contracts. 0.5% will be calculated based on current exchange rate.

CRPT tokens issued during the ICO are the only tokens which will be issued by Crypterium. No CRPT tokens will be issued after ICO.

The purchase of tokens during the ICO is the guaranteed way to use Crypterium settlements and purchase CRPT token for fixed price. Users, who has no tokens will have to buy CRPT tokens from tokenholders to use Crypterium ultimate banking possibilities. Crypterium is aimed on list it’s token on exchanges after ICO to support and enlarge userbase.

CRPT supports users and tokenholders

Up to 30% of Crypterium’s transactional income forms the Monthly Loyalty Program which is aimed on stimulating users to make more transactions via Crypterium and also to encourage especially active users. Loyalty rewards are made in CRPT tokens, which are purchased by Crypterium from public and private exchanges based on the current exchange rate at the time of purchase.

Each user’s loyalty rewards depends only on the amount of transaction he/she is made during the month in Crypterium services.

Example

The total income of Crypterium for the month was $5,000,000, of which $1,500,000 was used to buy tokens and fill up cashback fund.

The distribution will occur this way: imagine that in the platinum group are 1,000 tokenholders, who made transactions for $1,000,000 in total. At the same time, one of the tokenholders made transactions for $10,000, therefore making 1% of the total volume of group's transactions. This means that he will receive 1% of the volume of the token fund in CRPT tokens, which in dollar terms will be $7,500 dollars. This is a good motivation to make further transactions.