Crypterium is a cryptobank with the goal of turning the impenetrable volatile world of cryptocurrency into a contactless payment platform that’s as easy-to-use as the Starbucks App is for buying coffee–providing cryptocurrencies to mainstream everyday users. Once cryptocurrencies are as simple and easy to use every day as dollar bills the benefits of cryptocurrency -lower transaction costs, speed of payment, removal of national boundaries, and so on–become real. Crypterium will free you to easily spend your cryptocurrencies IRL.
Right now, Bitcoins are almost strictly being used as investment vehicles. They’re stuck like stocks or bonds into just something you track on your phone or look up online. There’s enough of a barrier to entry – tech, cost, and expense – associated with converting government-backed fiat money into cryptocurrency that it’s like owning 400 troy ounce (27 pound!) gold bars like they have in the movies. Sure, you’re rich as hell at $515,778.38-per-London Good Delivery Bar but how’re you going to move that money into a form that you can buy and trade with? It’s both physically heavy and logistically-suspicious.
When it comes to cyrptocurrency, the next step needs to be cryptobanking because even something that’s as simple in Europe with the SWIFT network as sending a bank wire in America is expensive and a pain in the ass, requiring paperwork and signatures and even federal oversight. And that’s just getting Greenbacks into a digital wallet like Coinbase or GDAX. That’s even before buying your very first Litecoin, Namecoin, Dogecoin, PotCoin, Ethereum, and especially, Bitcoin.