As you’ve probably heard, we want to open the cryptocurrency market up to everyone and not just the enthusiasts. Thus, the update that enables Crypterium users to buy crypto with fiat (Euro) in the easiest way possible. Going to an exchange isn’t necessary anymore saving you the hassle!
In addition to that, we’ve improved the identity verification process (KYC) for our users. Read on to keep up with our latest updates.
The process is no different to a standard bank transfer: you enter the amount of CRPT you wish to purchase, you get your invoice with the transaction details and wait for the status of your operation to change from “pending” to “invoice paid”. That’s it!
The feature is already available for our beta-testers. Once they provide us with their feedback, we’ll make it accessible to everybody else.
Moreover, you’ll soon be able to buy other cryptocurrencies with fiat, not only CRPT. And what is important to mention here is that the payment method we are going to introduce you to is even more convenient — we are working on a solution that makes it possible to purchase crypto with a bank card. Do you wish to buy cryptocurrency instantly? Then you’re going to like it.
Once you have bought your CRPT in the app, you can:
- Hold it securely, just like you would any other currency
- Exchange it into any other crypto or fiat currency
- Use it to pay for transaction fees — just as a machine operates on fuel, Crypterium payment solutions are powered by CRPT tokens. Every time someone makes a crypto-fiat payment, a fee equal to 0.5% of the value of the transaction in CRPT is taken from the user’s account and burned.
The process is regulated by Smart contracts, so there are no exceptions: with each transaction the number of tokens in circulation reduces.
But don’t worry: we will not run out of tokens. Following the laws of economics, increasing demand for tokens will increase the price thereby reducing the amount that is going to be burned for each transaction.
With the goal to make your identity verification process smooth and easy, we’re constantly working on improving our KYC (know your customer) system. Recently, we’ve updated it with more detailed instructions, disclaimers and push-notifications.
Also, we’ll soon be able to let our users conduct small transactions without completing KYC.
We’re almost sure that verification procedures are not your favourites, but KYC is mandatory in the financial world, and it’s our responsibility to keep all the processes within Crypterium transparent and regulatory compliant.
Crypterium is building a mobile app that will turn cryptocurrencies into money that you can spend with the same ease as cash.
Shop around the world to pay with your coins and tokens at any NFC terminal, or via scanning the QR codes. Make purchases in online stores, pay your bills, or just send money across borders in seconds reliably and for a fraction of a penny.
Get the latest updates from Crypterium