[ANN][ICO]🇨 Crypterium - Digital Cryptobank with Credit Token & Open Platform🇨 - page 287.

Cryptomockingbird

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Quote from: JohnPierson on October 13, 2017, 12:52:57 AM

Quote from: Firered on October 13, 2017, 12:22:22 AM

I didn't quite get how are you going to make the cryptocurrency to fiat transaction instant, can someone explain?

Thanks for the good question! Crypterium at the moment of cryptofiat transaction requests user's crypto balance and acknowledges that there is enough crypto. Then we instantly transfer our fiat to merchant in the required sum and withdraw user's crypto at the current best rate (for the user) + commission of 0,5%. We will use our special technology CrypteriumSX (Smart eXchange) to find the best rate for you. More information about CrypteriumSX you can find in our White Paper (see section 3.1.1 https://crypterium.io/wp). Commission of 0.5% goes to buying CRPT tokens from the market and subsequently burning them.

User can preselect such an option as which cryptocurrency to use, perhaps in different percentages depending on their current trading value.

So, Crypterium does all the communication and payment in fiat without the user having to do anything other than bring up their smartphone to the NFC terminal and press go. Only the exact amount of tokens in the order and ratio prescribed are exchanged to meet the payment needs.

And what are the merchants' fees?

JohnPierson

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Activity: 163

Merit: 10

Quote from: ?? on ??

Quote from: Mike | Crypterium on October 06, 2017, 01:57:50 AM

"burning" mechanics work like that:
20% of the total revenue earned by Crypterium from all payments at Crypterium’s partner outlets
and via is payment solutions equal to 0.1% of turnover, will every month be used to purchase CRYPT
tokens and will be burnt.

Hi again!
Just wonder about burning mechanic legality.
How do you suppose to turn your revenue into source of funds for token-burning? I mean, whenever you lower your revenue it is a clear signal for any tax-authority that you are lowering your tax base and will lead to some serious troubles.

And some correction on the burning mechanics which is described in the current wp (https://crypterium.io/wp) - section 8.7.1 Decentralised Fuel To Power The Engine.
It's slightly different. From every customer payment made via the Crypterium Cryptobank, a small transaction charge of 0.5% will be applied to that payment which in turn will automatically be used to purchase CRPT from the open market and subsequently burned.

JohnPierson

member

Activity: 163

Merit: 10

Quote from: ?? on ??

Quote from: Mike | Crypterium on October 06, 2017, 01:57:50 AM

"burning" mechanics work like that:
20% of the total revenue earned by Crypterium from all payments at Crypterium’s partner outlets
and via is payment solutions equal to 0.1% of turnover, will every month be used to purchase CRYPT
tokens and will be burnt.

Hi again!
Just wonder about burning mechanic legality.
How do you suppose turn your revenue into source of funds for token-burning? I mean, whenever you lower your revenue it is a clear signal for any tax-authority that you are lowering your tax base and will lead to some serious troubles.

Thanks for the question. I should forward it to our legal team for the correct answer. Will return soon.

JohnPierson

member

Activity: 163

Merit: 10

In simple words you can read about Crypterium in our recent press release at Coinspeaker:
https://www.coinspeaker.com/2017/10/12/crypterium-wants-become-first-truly-cryptobank-ico-launches-october-31/

JohnPierson

member

Activity: 163

Merit: 10

Quote from: Firered on October 13, 2017, 12:22:22 AM

I didn't quite get how are you going to make the cryptocurrency to fiat transaction instant, can someone explain?

Thanks for the good question! Crypterium at the moment of cryptofiat transaction requests user's crypto balance and acknowledges that there is enough crypto. Then we instantly transfer our fiat to merchant in the required sum and withdraw user's crypto at the current best rate (for the user) + commission of 0,5%. We will use our special technology CrypteriumSX (Smart eXchange) to find the best rate for you. More information about CrypteriumSX you can find in our White Paper (see section 3.1.1 https://crypterium.io/wp). Commission of 0.5% goes to buying CRPT tokens from the market and subsequently burning them.

User can preselect such an option as which cryptocurrency to use, perhaps in different percentages depending on their current trading value.

So, Crypterium does all the communication and payment in fiat without the user having to do anything other than bring up their smartphone to the NFC terminal and press go. Only the exact amount of tokens in the order and ratio prescribed are exchanged to meet the payment needs.

Firered

jr. member

Activity: 96

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cryptoinvest

I didn't quite get how are you going to make the cryptocurrency to fiat transaction instant, can someone explain?

Love me tender

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Quote from: Mike | Crypterium on October 12, 2017, 10:58:45 PM

Hello!
You've been invited to the new blockchain reality:
Oct 13, 2017 12:00 AM (Pacific Daylight Time)

Perhaps you want go deeper:
-What is a digital cryptobank?
-What is the difference between a cryptobank and a regular bank?
-How does Crypterium make money?
-What is a CRPT Token?
-What are the benefits of Crypterium ICO for tokenholders?
-Do you have a bounty program?
-How will the banking industry change with cryptobanks?
-... And any other questions you might have.

We're glad to announce the first live stream with our managing director and co-founder, Steven Polyak.

Feel free to ask us anything you want to know about Crypterium!
See you soon!

Neat, gonna watch it

Mike | Crypterium

newbie

Activity: 42

Merit: 0

Hello!
You've been invited to the new blockchain reality:
Oct 13, 2017 12:00 AM (Pacific Daylight Time)

Perhaps you want go deeper:
-What is a digital cryptobank?
-What is the difference between a cryptobank and a regular bank?
-How does Crypterium make money?
-What is a CRPT Token?
-What are the benefits of Crypterium ICO for tokenholders?
-Do you have a bounty program?
-How will the banking industry change with cryptobanks?
-... And any other questions you might have.

We're glad to announce the first live stream with our managing director and co-founder, Steven Polyak.

Feel free to ask us anything you want to know about Crypterium!
See you soon!

Mike | Crypterium

newbie

Activity: 42

Merit: 0