Many of you might actually have subscribed to this one but, because I have seen lots of questions out there, I think its time for me to get a review of this one.
What is Crypterium?
In simple words, a mobile/PC wallet, an exchange, investment portal, debit card issuer, and much other cool stuff. If you want to pause reading my review and feel too much rush on getting it, head to my referral link and we both get $5 USD for it. Then come back and read this up and let me know what you think.
Unfortunately due my early crazy days of "going everywhere", I have indeed started with this venture but then sold all my position with it. I am NOW, regretting it!
Just have a look at this census from who ordered the card during the launch week (around June). Unfortunately, I only ordered my card a week ago. So went that one arrives, I will try it out and share my experience.
Does it have a token?
Yes, and it's called CRPT and its an ECR20 compatible token on the Ethereum blockchain.
If you are willing to invest on it, then be aware of the following. If you hold CRPT tokens you will get cashback by transacting within the app. The more tokens you hold the more you will be entitled for rewards.
There are 4 levels of rewards...
- Level 1, 0% from MLP Fund (Bronze) - For everyone that has no CRPT tokens.
- Level 2, 10% from MLP Fund (Silver) - For holders under 8k CRPT tokens.
- Level 3, 35% from MLP Fund (Gold) - For holders between 8k and 25k CRPT tokens.
- Level 4, 50% from MLP Fund (Platinum) - For holders with more than 25k CRPT tokens.
This is effective, so, if you use the app to exchange crypto, you will be entitled to these rewards, even if you have not yet ordered the card.
What if I haven't CRPT?
That's fine. You can do all the same thins without it. But you will not be entitled to rewards from the Fund. Which does not exclude you "at any time" to buy some and get into it. It's up to you, and Crypterium will never hold your tokens (as far as I know). So, if you just want to give a try and then sell them all, you can.
What can you do with the app?
This is the where most will get interested in, I would say.
Buy Crypto with Credit/Debit cards
This is somehow not new but offered from both VISA, Mastercard and any other PCI compliant DSS partner.
Send money to other Crypterium users
You can send ANY crypto supported by the app to any other users, FREE of fees, and within a reach of a cell phone number. Type it in, and that's it!
Withdraw to MasterCards Credit cards
This is probably where you going to throw out! Yes, you can send crypto to your Mastercard Credit card. I mean, to your or anyone's Mastercard. It's going to be deposited in the same fiat type you have in your credit card (of course) but all alone, its already a great feature.
I love this feature and I believe this is one of the key valued points for many users. The problem is... sharing my Credit Card number 🤣LOL!
Soon more Banking options
Currently, Crypterium is burning tokens every week and this is part of the ecosystem strategy to make rewards possible (profitable?).
As you can see on the right picture (above), new features are coming up for the Banking and Market services, like for example, savings and investments portfolios. Similar to what you already have and can do with Crypto.com (yes I am a user of that one too).
I am eagerly waiting for the "Market" options to test if the signals are any good. And if similar to other platforms where you can create your fund indexes, this can be very interesting.
Yes, you can also transfer to your bank account. I am have not yet tried it out, but it should be something possible once you do your "required" verifications.
How to order your card?
First, let me say... this is not one of their strategy points. There is better. But if you still want to be included in the cashback vortex and you are planning on doing some regular transactions with this card. Then you definitely should consider it.
But first, get some CRPT! It will get your card 5$ cheaper.
To order your card you need to pay $9,99 within the app. You can only buy it using BTC. If you want to be staking the CRPT, buy the tokens first and when you are about to purchase the card, they will allow you to get them staked.
On the order process, you need to add (to the $9.99) the shipping cost. Currently, there are two options... one with around 2 weeks (chepeast) and another within a few days (higher cost).
I am not in a rush so I have selected the cheapeast option... it has been already 12 days... not yet arrived. I will feedback you on this, in case it's not as expected.
What are the current supported ones?
Bitcoin, Crypterium, Ethereum, Litecoin, USDC, BitcoinCash and XRP.
Not many, I agree. But this is usually a temporary thing once users start transacting often. It happened with many others I know of, so it won't be any different form this one. Unless they don't want to adventure into the "crazy profitable world"... of the unstable markets! Which makes all the sense for anyone wanting to release a portfolio invesment service. Anyway... it will happen, you will see.
I did it already some time ago, so I can't really testify about its current process. Although I remember by the time I did it, that was not hard and something as standard as the usual identification plus some other utility bill, if you want a higher verification level. If you find any feedback about this, I would love to hear it back.
I have been using it for quite some time, including the online "web-browser" version. And to be honest it is "business level" grade. Quite good and I am confident they really want to be consistent enough to respond to real businesses 24/7. They announce things in advance and like many other third-party provide, care for the customer to understand what's going to happen.
The Referral bonus
They have a $5 bonus for both referred and referees... In addition, the referred will get 25% of all transactions fees covered by the app. Those include buying crypto, withdrawing it, topping up the account card and any mobile top-ups.
In order for both to get the 5$ "present", you need to transact at least more than 50€ within anything that takes fees... (yes they are not stupid)
If you are planning on using the card at least monthly, that's going to be an easy one, I would say.
Pros and Cons
Ok, this is part you should forget about all the marketing and usual strategy in the crypto world. This is my opinion and experience with the app, processes and long-time explorer (and investor at the beginning).
The app experience is really great. Available both in iOS and Android. Both versions are fast and easy to drive.
The "cryptocurrency" update delays are faster than competitors I use already. Almost as fast as the open-source explorers for each of the coins.
I have used them since their birth and consistency and awareness was always a key point of their business, so you can be sure they will warn you of any important changes.
The price of ordering the card is a downside to many users, but on the other hand, they have started a business which is available almost ANYwhere in the world. And because I know that process/compliance has costs, this is mostly why they charge for the card. In the future I foresee something to be free if they get enough customers... but they are serious about the features and will always offer a premium for anyone that wishes to seriously use their services.
Have I withdrawn to my bank account? not yet, but I am planning on it... to a European one at least. When that happens, i will let you know.
Nice to know that they offer the website in my native language too! Portuguese!
If you subscribe with my referral, please let me know. I don't care if you don't qualify for the 5$, I will still reward your intention. We need to make crypto standard business!!!
The card might be delayed (but for a good cause), please read this info.