Just a few days ago, ICOWatchlist caught up with Pavel Rasputin of Crypterium to discuss their upcoming token sale – Pavel is the Chief Marketing Officer (CMO) with Crypterium. The following interesting conversation was documented;
Hello Pavel, can you briefly introduce the Crypterium project to us?
Crypterium is a mobile cryptobank with open platform. We provide a service-payment infrastructure; a communication between the crypto-world and the fiat-world, providing an opportunity for users to pay in cryptoassets, and the merchant to receive funds in fiat money for services such as telephone, utilities, penalties, loans, taxes, internet, and so on.
In simple terms, a Crypterium enables you to spend cryptocurrency in real world — for real!
We issue a virtual card to the user: right after they install the mobile app. It’s pretty quick. There is no need to wait three weeks for the issue, as it would be with a physical card. With a virtual card, you can immediately pay through 42 million terminals that support NFC all around the world.
We have been working in FinTech for more than 5 years – it’s not a computer-face and smart conversations in the smoking room. It’s all about successfully creating solutions for contactless payments.
We have a wide range of solutions that are based on QR and NFC technology. A big part of the team worked with an app that allows payments with the QR-codes – PayQR. The logic of the previous project is similar to the logic of the Crypterium. It helps to use the experience for development and better understanding.
Main goal is to develop our own cryptopayment infrastructure — with all of the traditional banking system features improved with blockchain technology. In this infrastructure you will be able to pay, borrow and transfer money (fiat and crypto), accept payments and many more.
For developers we have an open platform which provides an opportunity to integrate Crypterium to the third-party software.
Also, we have prepared a solution that can change the credit market. Credit subtoken CRED – blockchain based credit system. This will make credit system safe and simple as it has never been before.
A cryptobank – how will this be operated and do you have plans to establish brick and mortar branches?
We represent an online bank based on virtual cards and mobile applications, without the brick and mortar branches. In fact, this gives us the opportunity to erase the borders between countries. From anywhere in the world a person can instantly register in the application, issue a card, instantly replenish it and make payment or transfer in any other currency or cryptocurrency.
In the future, one can pass KYC and in the shortest possible time take a consumer loan on one of the most favorable terms. Behind this external simplicity is based on years of hard work, many integrations and one of the most modern payment algorithms.
Does the project really need its own tokens?
Worth its weight! First of all, we are making a product that will allow the Blockchain Community expand its payment capabilities. Our token is a transactional kernel of the platform, it is also used in Bitcoin or Etherum for transactions, but with different math: “Gas” in CRPT tokens is a fixed percentage of the transaction amount that guarantees the system operation. Tokens are used to pay users of a cashback platform as well.
Where do you envisage the value of CRPT tokens to be in the next 12 to 24 months?
If we remove all the speculative issues associated with the value of the tokens, then in the first year after the commercial launch, we expect transactions for more than $750 million, with a guaranteed buyout and burning of tokens for $3.8 million.
According to these calculations, within 2 years the cost of the token can increase tenfold.
Which exchanges will be trading CRPT tokens?
For your eyes only, we are planning to list the CRPT token on several top-tier exchanges. It is important to note that we are creating demand for our token – some of the money from each transaction will be used to buy tokens. Therefore, it doesn’t matter which exchanges we choose, our token will always be liquid.
What is the total number of tokens and how many will be allocated to the team?
The technical limitation of the number of tokens is 300 million. In reality, we will issue about 230 million when Hardcap is reached. The team will get 9% of all released tokens
Briefly run us through how CRPT token sale will be conducted?
Each token buyer will have to undergo a simple registration process in our bookbuilding platform, which we will launch on October 24th. ICO starts on October 31. For purchase, the user will have to top up the balance in the system, based on the cost of the token – 0.0001 BTC. The minimum purchase is 1 CRPT token.
For example, if you need to purchase 30,000 tokens, you need to top up the balance at 3 BTC. You can do it in different currencies: Bitcoin, Ether, and even by fiat funds. At the same time, transfers can be made even from the accounts of stock exchanges.
When purchasing tokens during the first weeks of ICO the buyer will receive bonuses up to 33% in tokens. If you buy tokens on the first day of 3 BTC, you will receive 9900 tokens as a bonus — in total 39900 tokens. To obtain tokens, the user must specify the address of his wallet on the Etherium platform. It is important that the wallet supports the ERC20 tokens. We recommend MyEtherWallet. Within a week after the end of the ICO, which is January 13 (or sooner, if the token issue cap will be reached), the user will receive tokens to his address in the Etherium platform.
It has been great aving this conversation with you Pavel, we wish you the very best.
Thank you for availing me the opportunity to delve into the core of our project, we value your partnership.
For more details, follow the Crypterium ICO here.