It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets
Yeah, it's the first time i'm coming across it, if they successfully implement this it will surely make things easy for people especially those that aren't really conversant with Crypto trading, with the plastic crypto cards which is linked to your local bank account one can deposit and withdraw cash from your financial and crypto accounts in regular ATMs.
Yeah I think i have seen one carried out by a problem but unfortunately it was only used by the project president on demo, it never saw the light of the day, is cryptoOcean looking at doing a video of the plastic card when it is manufactured?
I think that is where they will have the advantage. If they focus on the cars and ATM it would really be something as of now there is a huge lack in such means where you can simply withdraw and deposit from an ATM. there is a huge gap between crypto and fiat.
This is the killer, making a nice connection between crypto and fiat from a cashpoint - that will be awesome I think it will come given amount of time once the market has stabilized a bit. When that will happen? I don't know.
I'm glad someone is seeing the bigger picture of what i've been talking about, when you talk about project that is offering something unique and beneficial, this is one of them, we've all wanted the people to embrace blockchain, well, this is one of such avenues that will propel that vision, all they have to do is stay focus and deliver what they promised
If I understood correctly, CryptoOcean is planning plastic card for crypto similar to what we have for Fiat currencies? This means CryptoOcean will act as gateway (like Visa) or only as a bank?
I believe so, the card can be used for all purpose, like a universal card for buying and selling, as stated on their whitepaper, so it will be like a gateway to purchase any cryptocurrency and get your conventional or fiat currency which can be transferred to your local bank account, the blockchain industry is trying to break that norm that they are just a virtual process but with upcoming projects like this, they are becoming more of a physical thing, which is lovely
This is actually a daring concept and tasking as well, what this does is that it will place blockchain in the map for good in the world as having real life applications and physical resources as well
How many tokens will this plastic card will support? Only CryptoOcean tokens or any tokens will do? How the conversion from one coin to other coin will be handled? I mean if I have CryptoOcean in my card and if vendor accepts only ETH then do I need to pay conversation charge?
Hello, Anilbg.
The users can make transfers of the cryptocurrency to the external crypto wallets, the fiat to the external accounts and the payment systems accounts. Also, the service can accept transfers of cryptocurrencies and the fiat from external services to the users' wallets. Internal transfers of the cryptocurrency and the fiat (under simple conditions), are carried out without commissions. External transfers may include a commission from both the service and the external payment systems. In the process of the transfer, funds can be automatically converted from one cryptocurrency into another or into fiat money at the internal (profitable) exchange rate.
The conversion of any of the TOP-100 main cryptocurrencies is carried out for. The automatic trading on crypto-exchanges provides getting the most favorable exchange rate and minimal commission for its users. Conversion can be carried out as a separate transaction - at the user's request, instantly while performing other transactions within the CRYPTOCEAN platform, for example, in the process of paying for goods or services.
The user can specify either a certain cryptocurrency or a wallet from which the funds for conversion will be withdrawn, as well as the group of ryptocurrencies, priorities, limits and withdrawal strategy. For example, first – to use up one cryptocurrency, then to switch to another, or to write off gradually in predetermined proportions).
When converting the fiat into cryptocurrencies and the cryptocurrency to the fiat, partner banks are involved. It is from their accounts that the fiat funds are received and credited. Both sides act in compliance with KYC & AML procedures occurs in accordance with the requirements of the legislation of those jurisdictions in which they operate.
Non-cash exchange of the fiat and the cryptocurrency may be carried out anywhere in the world with the access to the Internet and the bank account. For cash exchange, you will need to contact the bank's branch office or use an ATM and a crypto-card issued in partnership with CRYPTOCEAN.
The list of cryptocurrencies, exchange of which will be possible via CRYPTOCEAN, will constantly expand – to meet the demands of customers of the service and the market.
wow, that's a very detailed answer. I have a short question: Have you already signed contracts with banks? If so, may you already name the banks?
