Crypterium has emerged as a promising project seeking to revolutionize finance and banking by establishing a liquid cryptocurrency exchange. Currently, the ICO of the project has raised over $30 million, showing the confidence investors have in the project and giving it the resources needed to reach its lofty goals.
Crypterium aims to fill the void of services that are able to convert cryptocurrencies to fiat currencies. According to the Crypterium whitepaper, by 2022 cryptocurrencies could equal about 10 percent of the global GDP, and have already passed the point of no return. By offering cryptocurrency holders more liquidity and options for converting their cryptocurrencies to fiat, Crypterium aims to tap into this enormous market as among the first-movers. Crypterium aims to provide the conversion of cryptocurrencies to fiat currencies cheaply, quickly, and easily.
To attract cryptocurrency users and the mainstream to its platform, Crypterium will offer a user-friendly app, Crypterium Cryptobank, for Android and iOS users. Using the app, users will be able to exchange cryptocurrencies with one another and fiat currencies instantly, and buy goods and services from millions of merchants throughout the world. The Crypterium Cryptobank will allow access to these merchants with low fees and without transaction limits.
To provide liquidity to the platform, Crypterium will issue its own token, CRPT, to function as a currency within its ecosystem. The CRPT token will allow access to the Cryptobank. Each time a user spends using the Cryptobank, a CRPT amount equal to 0.5 percent of the transaction will be burned in the user’s account. This fee will be completely transparent to users of the platform. Active users who own CRPT and spend it will be allotted a monthly reward depending on the revenues generated by the platform.
The token crowdsale that started on October 31, 2017, will last until January 18, 2018. Each CRPT will be valued at 0.0001 BTC during the crowdsale, with bonuses available to investors depending on how early in the crowdsale they buy CRPT. For the crowdsale, the soft cap is $3 million and the hard cap is $47 million. In total, no kore than 300 million CRPT will be minted, keeping the supply limited and the value up for investors. The funds raised during the crowdsale will help cover the development and marketing expenses of the project.
To learn more about Crypterium:
Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=2214098.0