Crypterium – CRPT:CRED CryptoBank Payments & Token Exchange?

Crypterium describes itself as a “cryptobank for cryptopeople”. Find out how it works today in my review.

What Is Crypterium?

 Crypterium, found online at [Crypterium.io](https://tokensale.crypterium.io/?ref=7eb9b3124c1a47e07cab877d),  aims to create a crypto-bank available to anyone. The platform is being designed to offer similar services to conventional financial institutions – but catered to the world of cryptocurrencies.

Overall, Crypterium aims to be a “leading cryptobank for the cryptoeconomy.” The goal, according to the official website, “is to provide a complete vertically integrated service that encompasses the best ideas from the entire community of the world’s best blockchain enthusiasts.” The Crypterium ICO begins on October 31 and continues throughout November.

Crypterium Products And Services

Crypterium aims to provide bank-like services to cryptocurrency users. Some of those products and services include:
Mobile Cryptobank: Crypterium will provide instant cryptocurrency payments, loyalty programs and cashback,
contactless payments via NFC, QR, ApplePay, and AndroidPay, and other banking services.
Cryptocurrency Acquisition: Crypterium promises to develop “solutions for every sphere of retail trade and services”,
including native integrations with PoS software and crypto-to-fiat settlements.
OpenAPI Platform: Crypterium offers an app store for retail cryptocurrency software and solutions. It will also have its
own decentralized server infrastructure and third-party integrations.
Credit Token Exchange: Crypterium offers no borders in financial operations, native integrations with current credits
scoring systems, and a marketplace where you can exchange and trade derivatives.

As you can see, the platform aims to offer similar service to today’s banks. When the cryptoeconomy takes off, we’re going to need financial institutions that provide bank-like services to cryptocurrency users. Crypterium is positioning itself as one such platform.

Crypterium Features Include:
Smart contract wallet
PSI-DSS certification
Manageable daily limits
Multi-sig wallet
Real-time fraud monitoring
Technical and financial auditing
Contactless payment cards available at 42 million shops worldwide
No need for currency exchanges – instant payments are available in fiat money or cryptocurrency anywhere in the world.
The opportunity to issue a virtual card on multiple credit card networks, including American Express, Visa, MasterCard, and Union Pay.
Integrations with payment platforms like PayPal, WeChat, Gyft, and others.
An emphasis on contactless payments, including ApplePay, SamsungPay, AndroidPay, and QR code mechanisms, among others.
Crypterium OpenAPI, which is a banking platform that enables developer solutions for a decentralized economy.

How Do Crypterium Tokens Work?

 Crypterium has two tokens, including CRPT and CRED tokens. CRPT tokens are the main tokens available for sale during the ICO, while CRED tokens are a subtoken.
 CRED Tokens:
      CRED tokens are considered credit subtokens (CRPT:CRED). These tokens give users the opportunity to create full-fledged banking structures and interest interactions based on the Crypterium blockchain.  Consumers can obtain a Crypterium credit currency loan called CRPT:CRED that’s underpinned by a smart contract. That smart contract takes account of the customer’s unique credit rating, then applies a customer-specific interest rate and conditions (including collateral, for example). The customer then converts the loan into a currency of his or her choice. Liquidity is guaranteed by Crypterium, which will use its capital to reduce volatility and adjust interest rates.  At the end of the loan period, the borrower must repay in CRPT:CRED, including interest, by purchasing the cryptocurrency from the CRPT:CRED token exchange. The borrower has completed his or her repayment obligations, and his or her credit score will be amended for future loan requests.

Overall, Crypterium’s credit subtoken promises to be the first subtoken with secured liquidity. Owners of credit subtokens can receive income much higher than the average market. CRPT:CRED tokens could also be used by other banks and financial services.

 CRPT Tokens:
      CRPT token holders get a cut of every customer payment made on the Crypterium Cryptobank. Every transaction is charged a rate of 0.5%, which is in turn automatically used to purchase CRPT from the open market and subsequently burned. This is expected to lead to a constant demand for tokens.

30% of transaction revenue (merchant commissions) will be used to reward CRPT token holders and the most active users on the platform. The more tokens you own, the higher your membership tier will be. Those who hold 25,000+ tokens will hold a “Platinum” stake, for example, and receive 50% of the cut of transaction revenue, while those with 1 or more CRPT tokens will be at the Silver tier, which gives them 10% of the cut.

The Crypterium Token Sale:
The Crypterium token sale starts on October 31 at 10:00 UTC-4. Tokenholder account registration opens on October 24.
Bonuses are available from October 31 to November 27. From November 28 to January 13, tokens are still available for sale – although with no bonuses.
1 CRPT token is priced at 0.0001 BTC. There’s a total maximum supply of 300,000,000 CRPT tokens. The team is accepting payments in BTC, ETH, and fiat.

Who’s Behind Crypterium?
Crypterium is led by Steven Polyak (Managing Director and Co-Founder), Austin Kimm (IR Director and Co-Founder), Gleb Markov (COO and Co-Founder), Vladimir Gorbunov (CCO and Co-Founder), Pavel Rasputin (CMO), and Dimitriy Fomin (CTO). The company is based in Cyprus and Estonia, with most of the development team coming from Russia.

Crypterium Conclusion:
Cryptobanks are going to play a central role in the upcoming cryptoeconomy. Crypterium aims to offer conventional banking services to cryptocurrency users. Some of the key goals are the launch of a global credit platform along with the launch of contactless payment methods. to learn more about Crypterium, visit the platform online today at Crypterium.io. The ICO is taking place throughout October and November.