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Crypterium: The Next Big Thing?

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One of the biggest question marks facing the cryptocurrency community is whether mass adoption of decentralized payment systems is feasible. For a project like Crypterium, global adoption of cryptocurrency is only a matter of time.

What is Crypterium?

Crypterium is a digital cryptobank that allows users to pay with cryptocurrency in 42 million stores worldwide. It operates without a physical card, limits or even commission. The underlying goal of this project is to provide an accessible blockchain-based payment system worldwide.

Although Crypterium appears to be similar to other cryptobanks, it has invested heavily in contactless mobile payment technologies. Clearly, the organization believes that plastic cards have no place in the future. Rather than wait for a plastic card to arrive in the mail, users can begin transacting on the platform immediately after installation.

The company’s business model is focused on transactions whereby every merchant pays Crypterium a portion of its settlement. Therefore, users are not required to pay to use the platform.

The underlying mandate of the project is outlined succinctly in an Oct. 6 blog post via Medium:

“We are focused not only on working with the existing crypto community, which now consists of just a few million people, but also with an audience that is still only curious about the crypto-world and is afraid to buy crypto-currencies. We created a system, which will motivate millions of new users to connect with crypto-payments.”

Anyone who is familiar with the ongoing debate over bitcoin forks knows that creating a more transaction-friendly cryptocurrency is top of mind for developers. The key, however, is doing it without jeopardizing the system’s most prized possession: decentralization.

An Introduction to the Cryptoeconomy

Crypterium speaks at great length about the cryptoeconomy in its whitepaper. Citing IDC research, the company says the mobile payments market is expected to reach $3.8 trillion by 2020.

Mobile payments have been expanding rapidly since the introduction of the smartphone. Their proliferation will only accelerate as cryptocurrencies attract more capital and use cases.

The global cryptocurrency market is valued at roughly $210 billion, having gained more than 1,000% this year. Hundreds of initial coin offerings (ICOs) are being launched every week as more startups look to create value for their ecosystem.

At last check, there were roughly 1,200 cryptocurrencies in existence. The growth and widespread adoption of digital tokens is setting the stage for another cashless revolution, only this time in digital payments. Crypterium is betting that this ecosystem will spur instantaneous transfers between cryptocurrency and local fiat currency anywhere in the world via contactless payments. Much of the infrastructure is already in place. The only thing left unanswered is how the crypto market will evolve to facilitate ease of payments.

ICO Launch

Crypterium launched its token sale for CRPT ownership Oct. 31. The sale will remain open until Jan. 12 with an option for early termination upon the successful raise of $47 million.

The price of CRPT has been set at 0.0001 BTC with a technical limit of 300 million tokens. Unsold tokens will be destroyed.

Token holders will be able to use their CRPT units as gas to obtain monthly rewards from all user transactions.

TechCrunch co-founder Keith Teare has described Crypterium as “the next big thing.” We may have more insight into this bold proclamation once the crowdraise ends early next year.

Disclaimer: The writer owns bitcoin and other cryptocurrency. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock. 

 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.6 stars on average, based on 691 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: sam@hacked.com Twitter: @hsbourgi




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3 Comments

3 Comments

  1. skywalkerr6

    November 23, 2017 at 10:02 am

    Good to invest in this ICO? Please confirm. Thanks.

  2. ashkharoo

    January 7, 2018 at 4:24 pm

    Do we have any expert opinion on Crypterium?

  3. ashkharoo

    January 16, 2018 at 12:40 pm

    When can we see the analysis of Crypterium? The crownsale is over

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Altcoins

Tron Price Analysis: Justin Sun Makes Offer to EOS and ETH Developers; TRX/USD Outperforms

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  • TRX has been outperforming its peers in the session on Friday, within a sea of red.
  • Tron founder Justin Sun makes an offer to EOS and ETH developers.

The Tron price is witnessing decent bounce to the upside in comparison to many of its peers. Gains of some 3% in the session on Friday have been observed at the time of writing. A big thanks to a couple of supporting confluences. Firstly, TRX/USD during its most recent cooling period has formed a bullish flag pattern formation. This began to take shape after the price saw a chunky rally from 27-29th November, having jumped around 48%. During the sell-off that hit the market in the latter part Thursday’s session to open of Friday, fortunately the falling price was caught. The lower tracking trend line of the mentioned flag came to the rescue.

Elsewhere, the demand area that began to take shape after the recent bottom seen on 25th November has certainly held its ground. The buying interest looks strong from $0.01350 down to the low at 0.11150 – the 25th November low. Unlike several of Tron’s peers, these recent formed support bottom areas have been breached. As a result, the market as a whole saw an extension to the downside, with moves that were somewhat exacerbated due to the critical near-term support levels being pierced. This allowed the bears to come in and capitalize.

Justin Sun’s Offer to EOS and ETH Developers

Tron’s founder Justin Sun has recently announced via Twitter that there will be a fund created by the foundation. The goal of this will be rescue any potential developers of EOS and Ethereum if they move their Decentralized Applications to the Tron Network. Justin Sun tweeted, “#TRON will build a fund to rescue #ETH and #EOS developers from the collapse of their platform as long as those developers migrate their dapps to #TRON”. This is clearly a move from the Tron founder to further improve on his platform’s image. He is not shy from these types of social media marketing tactics.

Technical Review – TRX/USD

TRX/USD daily chart

The bulls will be eyeing a firm convincing breakout from this bullish flag pattern formation. Upper resistance is seen at $0.01450, the above trend line. A push above here will invite another retest of the prior acting demand zone, which is now resistance. This can be seen tracking from $0.01600 to $0.01800. Such as technical development should spark decent upside momentum, with bulls gunning back towards $0.03000. A supply area is seen just ahead of this, tracking from $0.02600 to $0.02800. TRX/USD last traded up at these heights in October.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 78 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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Cryptocurrencies

Why Investors Should Pay Attention to Gnosis

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Ever since I started learning about the blockchain industry, I’ve been constantly astounded at the various use cases being applied to it. One such use case is with Gnosis, a prediction market company with high aspirations.

Gnosis Prediction Market

A prediction market is basically a mechanism for turning user predictions into an aggregate forecast of future events. The idea is that based on the “wisdom of crowds” we can use information from the collective to be smarter and more accurate than any information from any one individual.

And the prediction markets create incentive for people to be correct about their predictions. This allows for users to bet on certain events occurring. The higher a likelihood of an event occurring, the greater that events’ “token worth” would be. And as something becomes more or less likely, the price of the token increases or decreases.

In a prediction market, the array of possibilities are split so that each of them has an assigned probability, and they all add up to 100%. Therefore, as an event becomes more and more certain, it rises in price. This would create a profitable opportunity for anyone who bets on a low probability event in the case it ends up being correct.

The Mechanics of the Market

There are a few implications of this market set up. First, efficient markets matter. If news is well-known and distributed equally to everyone, new info that creates certainty regarding a prediction will zero out all of the non-winning options. If not, it is possible that someone will buy a token thinking it’s a longshot or a bargain, when it is really, truly disqualified.

Additionally, there are two ways to make money trading on the market. You can take profit along the way by purchasing a token and later selling it once the probability of said event has gone up, or you can wait until receiving a payout for being correct.

GNO tokens are tradeable on the open market and have monetary value, but are not to be confused with Olympia tokens. These tokens are used inside the app to make bets. GNO only represents the payout for making the right choice with your Olympia tokens.

Gnosis tokens (GNO) are ERC20 tokens, with 10 million created and sold during ICO. No new tokens have been created since. The current architecture supports the Gnosis prediction market, but more prediction market applications will eventually be feasible. Some other features that are relevant to investors are the multi-sig wallet and robust developer tools that will help to create a sustained community around it.

The Buying Opportunity

GNO is currently trading around $12.66 USD, or 0.00317 BTC, and is ranked 191 in terms of market capitalization. The recent trend has been gradually upward, with the weak BTC continuing to depreciate against it. The coin is available on Bittrex, Poloniex, and Kraken, and could serve as a great short-term bet based on its strength versus Bitcoin. Whether you want to be involved in it long-term depends upon your belief in the prediction market use case and its ability to maintain strength against BTC.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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Stellar ­­­Price Analysis: After Brutal Selling the Bulls are Back, For Now

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  • XLM/USD bulls have managed to stage a rebound with the daily closure on 27th.
  • Should this latest foundation of a recovery been capitalized on, then there is potential for XLM/USD to fly.

Recovery Mode On

XLM/USD daily chart

XLM/USD has over the last two sessions managed to regather some bullish momentum. This came after five consecutive sessions in the red, as part of a larger bearish trend. The price within the mentioned period had dropped a chunky 35%. Even more notable is that XLM/USD has dropped over 50% since 12th November. Given the daily closure on 27th November, it appears that sellers have run exhausted, for now. The price managed to close in the green, for the first time in five days. Therefore, a recovery mode could be well under way, but there are some big barriers.

It could be foreseen that the selling pressure was losing steam, given XLM/USD attempting to form a bottom over the past three days. The buyers had been strongly defending the $0.1350 area, between the 25th to 27th November. This was demonstrating signs of exhaustion, given the intensity of downside that has been observed of late. It isn’t too surprising to see a change in trend now, after observing the RSI via the daily. The RSI had run firmly into negative territory, dropping to around 24, before the bounce coming into play on 27th November.

XLM/USD bottom area

Upside Targets

Taking into consideration the recent bottoming, bulls must now focus on the barriers that lie ahead. Firstly, there was a demand area that had been serving as firm support for XLM/USD. This had been in play from June up to November. The market bears had forced a breakout given the high intensity at the time of the move lower. Due to the shear length of time the zone had been active, it wouldn’t be surprising to see this acting as a new stubborn area of resistance. This will be the first necessary barrier to break down. It is seen tracking from $0.1700-$0.1900 range.

Looking further north, should a breakout of the mentioned area be seen, expect a larger wave of buyers return to XLM/USD. As a result, the bulls will likely breakdown the $0.2000 area. This is where the lower trend line of the breached pennant pattern is seen to be tracking. Furthermore, such moves could then see the price flying back towards the $0.3000 mark. There isn’t much in the way of barriers until this point. XLM/USD last traded in proximity to this level on 12th November, just before the bears kicked in.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.5 stars on average, based on 78 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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