Crypterium Token Review
Crypterium is a startup based in London. The token is used to drive all crypto-fiat transactions that occur via the Crypterium app. Users can engage the app to trade digital assets, load their phones, open a savings account and order global crypto card. The token has been recognized as one of the ‘Emerging 50’ by a joint ‘FinTech 100’ report. KPMG and H2Ventures published the report. Crypterium currently has over 400,000 registered users. Some of the features that will be offered by Crypterium include digital asset exchange and borderless transfers. Others include fiat currency transactions, loans, utility payments and more.
Launch, ICO and Market Cap
The token sale kicked off on October 2017 and continued until January 2018. During this period, 1 CRPT sold for 0.0001 BTC with a market supply of 300 million tokens.
Highlighted below are the details of the token sale:
- Start date: 30 October, 2017
- End date: 12 January, 2018
- ICO token supply: 300,000,000
- Soft cap: 500 BTC
- Hard cap size: 200,697,000 USD (fiat)
- Amount raised: 51,656,963 USD
Current Stats of CRPT Tokens (Coinmarketcap.com: 24/09/2019)
Circulating Supply: 84,818,541 CRPT
Market Cap: $36,799,588 USD (3,765 BTC)
How Crypterium Tokens Work
Crypterium operates two tokens. They are CRPT and CRED. CRPT is the main token of the platform while CRED is a sub-token.
The CRPT tokens were available to the public during the token sale. For every payment made on the platform, a certain transaction fee will also be charged. Part of this fee will actually be used to rebuy the tokens from different exchanges. This is to maintain a regular demand for the tokens.
However, 30 percent of the transaction fees will serve to compensate users that are considered the most dynamic CRPT holders. These are users with most tokens. They are eligible for more dividends.
Crypterium Token Team and Founder
The former General Manager of Visa’s Central and Eastern Europe network leads the project team. The team comprises C-suite executives from the best financial corporations in the world. They include:
- CEO: Steven Parker
- COO, co-founder: Austin Kimm
- Risk Advisor: James Davies
- VP, Global Partnerships: Rafael Carrascosa
- Chief Compliance Officer: Danny de Gier
- CTO: Konstantin Vygolov
- CPO: Andrew Abramov
- CMO: Siranush Sharoyan
- R&D Director: George Ermakov
- Art Director: Ruff Rubaker
Considering the project team’s profile, one can conclude that the project is a credible one. However, caution should be exercised when dealing with online ventures in general. Sometimes you might have to look beyond the trusted individuals leading the project.
CRPT Token Technology
CRPT is based on the ETH blockchain. The platform aims at providing services that are similar to what banks provide, to the crypto community. The products and services provided by the platform include crypto acquisition, crypto bank, credit token exchange and open API platform.
The token’s platform build on algorithms designed to propel the most efficient bid offer. It is programmed to match natural P2P flow and third-party exchanges. The team has designed the algorithm in such a way that users get the best deal.
Crypterium Token Roadmap
2013: Contactless Payment Technologies
Developed mobile payments solutions based on QR-code scanning. The project raised over 1 million dollars in investments during round A.
2015: Universal Tool for Daily Payments
Over 300 integrations were achieved with the most popular e-commerce retail services. This inspired the provision of universal payment applications for important daily needs. They raised 7 million dollars during round B.
2017: Interbanking Direct Payment Protocol
The direct debit protocol was created. This helped to ensure that payment processes are done with zero fees. It is meant to encourage users to pay more attention to their payment experience and rewards.
2018: Mobile Cryptobank
Mobile cryptobank plays a key role in providing the best payment experience. In addition, the company enriched the payment experience with various practical features.
2020: Crypto Ecosystem
Promoting the need for dedicated technology solutions to develop drivers needed for an improved crypto economy.
Crypterium Token Scam Accusations
There have been some concerns about the CRPT token. This is in terms of receiving dividends by shareholders in line with the plans in their whitepaper. However, we have not been able to confirm the correctness of any of these allegations since we do not have access to the necessary material.
Where to Buy Crypterium Token
The following exchanges are exchanges in our Cryptocurrency Exchange List where you can buy the Crypterium Token:
Despite the concerns raised online about the project, it offers a quite innovative products. This is considering the entire crypto space. Many key figures in the banking sector are also planning to embrace the token. The technology sector is already witnessing an influx of the Internet of Things. Therefore, embracing the use case of CRPT could be a plus.