Crypterium ICO Review- Is it a Scam?

[bitcoininvestor]

The Crypterium ICO recently started and has already raised over $11 million, this could be one of the best selling token sales of the year.

What is Crypterium?
https://tokensale.crypterium.io/?ref=7c ... d2342ec1d2
They plan to launch a new decentralized cryptocurrency bank that will offer users the chance to make payments for goods being sold in fiat currency with their cryptocurrency.
They believe that for cryptocurrency to go mainstream it needs to be made simpler for users to make payments. Cryptocurrency offers many benefits over fiat currency such as lower transaction fees and faster processing times. It's quickly gaining users, with an estimated 3 million people now holding coins. However many of these people are using it as an investment rather than a currency.
The new platform will have an easy to use app for users that will be available for download in the IOS or Android marketplace. By using this app users will be able to pay with pre existing payment terminals that are being used for fiat transactions.

Cryptocurrency in 2017

Crypto has gained a huge amount of users this year, this has seen the price of Bitcoin surge to over $7,000. There's now also over 1000 different coins available with more being launched every day. The total market cap combined is now over $200 billion and is estimated to keep growing quickly.
Many companies and projects are now using ICOs (initial coin offerings) to collect funds for their projects. Many now believe this is a better way of funding a new business or project over more traditional methods.

Digital payments market

Digital payments have grown quickly over the last 10 years or so, so much so that many people now never use traditional currency. The last 2 years has seen many huge companies enter the contactless payments market.
The amount of cashless transactions during 2015 was 430 billion. The mobile payments market is expected to reach $3.8 trillion by just 2020.
Cryptocurrencies have also grown at a fast rate, this new currency seems to be perfect to dominate the digital payments market, however there's still a long way to go. In order for crypto to go mainstream Crypterium believe that decentralized banks that users can trust will need to be in place.

How will Crypterium help to advance crypto?

fiat transactions can still be slow, especially when being made internationally, they can also be very expensive with foreign transaction fees estimated to be around 7.5%.
Using blockchain technology crypto can be transferred quickly and cheaply.
In order for crypto to gain more adoption it needs to be easier for users to understand and simpler to make transactions. The new crypto bank will take advantage of pre existing technology for fiat transactions, there's already more than 42 million contactless payment terminals throughout the world. This technology can be used to make payments in crypto with the merchant quickly receiving payment in fiat currency.
Crypterium claim that their payment solution will be cheaper and quicker than any traditional bank can compete with.
As the market increases they plan to offer additional services such as crypto loans and enabling international transfers.

Advantages over traditional banks

The new blockchain based bank will offer many benefits over traditional banks, just a few of these can be found below:

[*] Unlike traditional banks there won't be any boundaries with the blockchain bank being completely worldwide.

[*] It will be much faster to scale than traditional banks without the need for expensive overheads.

[*] International transfers will be much faster and cheaper without any restrictions.

[*] Transfer values will be completely unrestricted.

[*] The new platform will be decentralized with the user having complete control of their funds. There will be an independent verifiable ledger that will show all transactions, you won't need to trust a bank anymore.

[*] Currency conversion costs will be much lower.

The team behind the project

The team behind the new platform already have experience in the payments industry. Two of the Co-Founders previously founded PayQR which became a very popular contactless payment platform which received a number of awards. The team combined has previously raised over $50 million into other fintech projects.
They also have advisors that have decades of experience working in high level positions for global companies.

[*] Steven Polyak, Managing Director and Co-Founder: He has over 10 years experience working in capital markets.

[*] Austin Kimm, IR Director and Co-Founder: He's an experienced CEO and international financial services strategist who created and managed various companies, including Renaissance Insurance Group Russia which has over 3000 employees.

[*] Gleb Markov, COO and Co-Founder: A certified fintech expert with 7 years experience.

[*] Vladimir Gorbunov, CCO and Co-Founder: An online entrepreneur with management experience of over 10 years. He's previously founded 5 companies with a total capitalization of over $150 million.

[*] Keith Teare, Advisor: A very successful Internet entrepreneur having previously founded and managed many companies, such as Techcrunch.

[*] Roger Crook: CEO of Capital Springboard- the leading Singapore based P2P invoice financing platform. He was also previously the CEO of DHL.

How will it work?

The new crypto bank will be much simpler to use than existing solutions, in order to get started all you'll need to do is download their app. Once downloaded the app will allow you to make payments by using existing fiat terminals, the merchant won't even know that you're paying with crypto. The app will allow you to finally be able to make payments quickly using cryptocurrency.
From your smartphone you'll now be able to:

[*] Transact using pre existing infrastructure designed for fiat, such as payment systems for VISA and Mastercard.
[*] Make transactions with partners of Crypterium.
[*] Replenish your personal cards or bank account.
[*] Make international transfers to crypto or fiat based bank accounts with no restrictions and for low fees.
[*] Receive special offers in participating stores.

Crypterium CRPT Token

The new CRPT token will be at the core of all transactions. In order to use the app you'll need to own CRPT tokens. The goal of the new token is to entice users into using the app to make payments.
The ICO will be the only time that the tokens are available to purchase until they're available on a cryptocurrency exchange.
Users will be able to make payments using different cryptocurrencies, however every time a payment is made they'll be a 0.5% charge that's taken from their CRPT balance. This 0.5% fee will be completely transparent at the current exchange rate.
The platform will be using a complex AI system that will search for the best conversion rate for users, it's hoped that this will more than cover the 0.5% fee that they plan to charge.
The new bank will also offer a loyalty program. Every time a transaction is made a 0.5% fee will be charged, 0.15% of the turnover from transactions will be rewarded to those who hold the CRPT tokens.
Those who hold more tokens will receive a much larger share of this income, it's hoped that this will help offer an incentive for users to hold on to the tokens which should then also increase their value and encourage users to use the app to make payments.

ICO Details

[*] Dates: The token sale started on the 31st of October and is scheduled to run until the 12th of January.
[*] Hard cap: $47 million.
[*] Soft cap: $3 million.
[*] Amount of tokens: 300 million.
[*] Price: 0.0001 BTC.
[*] Signing up with my link offers an additional 1% bonus on top of any other bonuses: https://tokensale.crypterium.io/?ref=7c ... d2342ec1d2


Crypterium Conclusion

There's been a few crypto banks launched recently, this one seems to have advantages over most of them though with lower fees. I love how they're using the already existing payment terminals for payments and that you won't even need a card to make payments.
The most impressive part of the project for me though is the team behind it who has history in the industry and has already previously founded many successful companies.
The advisors also come with a lot of experience and I doubt they'd want to risk their reputation for a project they didn't believe in.
Sign up with my link below to receive a 1% additional bonus on any other bonuses available:
https://tokensale.crypterium.io/?ref=7c ... d2342ec1d2

[MarkDerlo]

will the user be advised what exchange rate will be used 'before' the actual purchase of goods is made and accepted? I ask because this is actually the worst rip off that banks and merchants use now.

[????????BitMoney]

----------