KuCoin, one of the most advanced cryptocurrency exchange, declares the listing of another valuable token to their platform, CRPT. It is basically a native and transaction currency of Crypterium, a blockchain based project aiming to transform the digital banking industry.
As from now, users are now enabled to make deposits using the CRPT tokens and have access to various trading pairs such as CRPT/ETH and CRPT/BTC. All the transactions can be performed with the help of KuCoin app available for Android or iOS users. Also, users can perform transactions from KuCoin's official website also.
What is Crypterium?
Crypterim main purpose is to develop an open digital cryptocurrency bank. It wants to take help of blockchain technology to develop a system which is useful not only for crypto users but also for other users.
With the help of this system, users will be able to store, spend, exchange and borrow against any of the listed cryptocurrencies. Also, users will be able to utilize crypto-fiat exchange services allowing them to spend their cryptocurrencies easily in real-world purchases and activities using fast and effective bid-offer matching.
Also Read: Dubai Govt integrates Blockchain Technology into DubaiPay
One of the major benefit of such a system as compared to the traditional modes of payment is that it users will not have to wait for a long time as it is often in the case with processing debit and credit cards. The Cryptobank will enable fiat-based currency transactions and fiat-crypto exchange immediately. Also, it will enable for the platform to use crypto to pay for fiat-based transactions. The project ensures fast and competent transactions including low commissions and possesses 42 million plus terminals for payments globally.
All the transactions and payments can be done via mobile apps which support contactless and cashless payments. The transactions can be done at NFC-fitted PoS terminals and are developed in a way to process QR payment codes. All the payment terminals will allow services such as cryptocurrency exchange, fiat currency deals, unlimited international transfers, utility payments, loans, and more.
A Special Cryptobank
It works on contactless payments, hence in the near future plastic cards will not be needed. Users can control its app just after installation, without any need to wait for the plastic card.
They are primarily focused on transactions. Their main purpose is to build their own crypto-payment infrastructure using blockchain technology which will definitely decrease the value of transaction for merchants. The team has full confidence to achieve this goal as they have extensive experience in developing viable payment solutions.
Also Read: This man tracks Kidnappers and Criminals using Blockchain
CRPT Transaction Token
The CRPT is the official cryptocurrency given by Crypterium. The token can only be used for the transaction on this platform. The tokens will be distributed through an ICO (Initial Coin Offering) and then it will be listed on exchanges.
Users firstly need to become the holders of CRPT to allow them to use the Crypterium Cryptobank. Anytime a user executes a payment using the Crypterium app, a fee equivalent of 0.5% of the value of the deal in CRPT token is taken from the user's account to burned as fuel to run the system.