What is Crypterium?

Crypterium is a crypto application with centralized (CeFi) and decentralized (DeFi) features. The project aims to bridge the gap between traditional finance and cryptocurrencies by making them accessible daily.

It has built a mobile app and a blockchain infrastructure that allows users to pay for products and services through 42 million NFC terminals worldwide. Users can also pay using QR codes and a virtual card similar to traditional banking cards.

Users can also trade different cryptocurrencies. This allows them to enjoy portfolio diversification directly from their portable devices.

History of Crypterium

Crypterium was founded in 2013 and was co-created by Vladimir Gorbunov, Austin Kimm, Steven Polyak, and Gleb Markov. Gorbunov is a serial entrepreneur, Kimm is an accomplished Web2 executive, Polyak is an experienced investment banker, and Markov is a fintech expert.

With its contactless payment technologies, Crypterium raised $1 million in round A funding in 2013. The project achieved over 300 integrations with popular e-commerce retail services and raised $7 million in round B funding in 2015.

In 2017, the project raised $51 million through an initial coin offering (ICO) and launched its mobile app in 2018, enabling fee-free global payments. By late 2018, Crypterium obtained licenses to operate as a financial institution.

In early 2019, Crypterium introduced its global crypto card and updated its app for crypto purchases and withdrawals. Later, they launched a mobile wallet and a loyalty program using the CRPT token.

In 2020, Crypterium partnered with VISA Europe and expanded crypto payment cards to 170 countries. They also released an AI-based Price Prediction service. Crypterium initiated a Seedrs crowdfunding campaign in 2021 to offer high-yield savings accounts.

In July 2022, Crypterium rebranded to Choise.com. The project advisory board includes industry leaders such as Keith Teare, co-founder of TechCrunch; Katrina Arden, founder of Blockchain Law Group; and Hosni Emam.

Core Components of Crypterium: CrypteriumSX Technology, Decentralized Server Infrastructure, Smart Contracts and OpenAPI

CrypteriumSX Technology

Algorithms are sophisticated mathematical computations that solve complex problems or perform specific tasks. The Crypterium project utilizes its proprietary technology, CrypteriumSX, as the platform’s base algorithm.

On Crypterium’s platform, the CrypteriumSX technology enables immediate cryptocurrency exchanges and guarantees the lowest exchange rates. It plays a role in erasing the boundaries between different currencies and crypto assets, making it easier for users to conduct transactions.

The algorithm-based technology ensures efficient bid-offer matching during peer-to-peer transactions. It can quickly and accurately match buy and sell orders, optimizing the pricing and trade execution process.

It continuously analyzes historical transactions to enhance risk management and identify predictive behaviors. This provides additional security measures to secure the platform.

Decentralized Server Infrastructure

Decentralized Server Infrastructure involves distributing computing resources across multiple locations or nodes. It is designed to be reliable, scalable, and resistant to failures or attacks.

Crypterium’s decentralized server infrastructure supports various payment methods and collaborative integrations. It allows users to utilize web2 payment infrastructures to conduct contactless payments via NFC, QR codes, Apple Pay, and Android Pay.

The infrastructure is crucial for maintaining the platform’s features and ensuring that users can always make global transactions.

Smart Contracts

Smart Contracts are automated contracts between parties that are executed under predetermined parameters. These contracts are designed to be immutable, transparent, and Decentralized.

In Crypterium’s ecosystem, automated contracts play a role in processes such as instant loans, currency exchanges, and CRPT burn mechanism, ensuring these operations are efficiently executed.

With every transaction on the platform, a small percentage of CRPT tokens is automatically burned through a smart contract. The contracts also maintain the token’s value and ensure the smooth operation of the platform’s economic model.

OpenAPI

The OpenAPI functionality is a standardized blueprint that allows developers and users to utilize the Crypterium platform fully. Written in a machine-readable language, the APIs allow developers to understand Crypterium’s services and integrations without access to the underlying code.

OpenAPI fosters innovation by inviting third-party developers into the ecosystem. These developers can utilize Crypterium’s functionalities as building blocks to create new applications and services.

For Crypterium, the OpenAPI is a universal interface for their products that integrates with third-party payment infrastructure and supports P2P transfers in fiat and cryptocurrencies.

Features of Crypterium Ecosystem: Wallet, Crypterium Card, Charism Platform and NFT Platform

Wallet

Source: Choise Website

The Crypterium or Choise wallet is a core feature providing comprehensive cryptocurrency management. It supports multiple cryptocurrencies and allows secure storage, sending, and receiving through a user-friendly interface.

The wallet integrates with other platform features, enabling users to buy, sell, and exchange digital assets. Security is a primary focus, with industry-standard encryption, biometric authentication, and two-factor authentication.

The wallet’s integration with services like the Crypterium Card makes it versatile for managing crypto and fiat currencies.

Crypterium Card

Source: Choise Website

The Crypterium Card is a physical Visa payment card that allows users to spend cryptocurrency at any accepting merchant. It converts crypto to fiat in real-time at the point of sale.

The card is linked to the user’s Crypterium wallet, seamlessly integrating crypto holdings and spending. Users can manage their cards through the app, check balances, and freeze it if necessary.

The card is designed to offer competitive exchange rates, low fees, and global accessibility.

Charism Platform

Source: Choise Website

The Charism Platform bridges centralized finance (CeFi) and decentralized finance (DeFi) within the Crypterium ecosystem. It provides easy access to various DeFi protocols and tools, making complex operations more accessible to average users.

This platform allows users to participate in yield farming, liquidity provision, and staking. It aggregates DeFi protocols, allowing users to compare options, and may offer features like automatic yield optimization.

The platform focuses on security and ease of use, offering educational resources about DeFi risks and rewards.

NFT (Non-fungible token) Platform

Source: Choise Website

The Crypterium NFT platform offers users access to the world of non-fungible tokens. This platform features the first-ever NFT interest account, allowing users to lock tokens with unique interest account characteristics.

Users connect their MetaMask wallet to the Binance Smart Chain (BSC) to use the platform. They then select a token, term, and deposit amount, reviewing profitability before clicking the mint button to lock their tokens.

Upon confirmation, users receive an exclusive NFT, with the interest account amount returned plus specified interest at the term’s end.

The NFT platform also provides NFTs that give users access to CHO tokens. The aim is to provide a centralized token sale mechanism embedded in a DeFi NFT collection for interested investors.

What is the CHO Token?

Source: Choise Website

The CHO token is the backbone of the rebranded Choise ecosystem. It allows the ecosystem to achieve complete decentralization and will enable holders to influence and govern the development of decentralized protocols on Choise.com.

The CHO token is distributed among active CRPT token holders. Users can leverage CHO for yield farming, staking, and receiving enhanced APY through Choise.com’s wealth management systems.

The Crypterium project has a token supply of 1 billion, with 267 million in circulation. tokenomics allocates 43.8% (437.75 million) to promotion, 23.9% (238.47 million) to the cornerstone, and 10% (100 million) to the CRPT airdrop.

8% (80 million) is allocated to the team, 7% (70 million) to seed funding, 4% (40 million) to private financing, and 2% (20 million) to the core contributors.

0.35% (3.5 million) is allocated to the community as a sale. 0.3% (3.25 million) is assigned to the token IDO, 0.3% (3 million) to the community pre-sale, 0.25% (2.5 million) to the strategic round, and 0.15% (1.53 million) to the CHO NFT sale.

What is the CRPT Token?

Source: Crypterium Website

CRPT is the primary token of the Crypterium ecosystem. It serves as the core component for all transactions within the Crypterium platform and the fuel that moves the entire ecosystem.

The token is built with Ethereum’s ERC standard and is crucial to the platform’s decentralized fee structure. For each transaction on the Crypterium network, a fee of 0.5% of the transaction value is charged in CRPT tokens.

These tokens are then burned or removed from circulation, creating a deflationary design. The total and circulating supply of the token is 95 million CRPT tokens. Tokenomics allocates 70% (66.5 million) to the community and 15% (14.25 million) to reserved funding.

9% (8.55 million) is allocated to the founders and development team, 3% (2.85 million) to advisors, and 3% (2.85 million) to the bounty campaign.

Is the CHO Token a Good Investment?

As a project that utilizes CeFi and DeFi features, CHO offers early adopters access to innovative financial services. The Choise.com platform utilizes the CHO token for yield farming, staking, enhanced APY, reduced fees, and platform services.

It enables users to earn rewards, generate passive income, and access improved yields across the ecosystem. It also allows users to enjoy innovative NFT assets that provide long-term yields.

Is the CRPT Token a Good Investment?

CRPT is the primary token powering the Crypterium ecosystem, which has now evolved into Choise.com. The CRPT token’s deflationary model and its essential role in the platform’s operations drive demand as the ecosystem grows.

The CRPT token is designed to be decentralized, utilizing Ethereum’s blockchain. With the rebranding, the token depends on the centralized Choice.com platform to provide its utility and value proposition.

It also gives holders access to the CHO token and governance capacities to determine the project’s long-term development.

Risk Analysis

Advantages

Crypterium offers services designed to bridge the gap between traditional finance and the digital asset world. One of its primary advantages is its all-in-one mobile app, which allows users to easily buy, sell, exchange, and manage various cryptocurrencies.

Another significant advantage is Crypterium’s global crypto card, which lets users spend their cryptocurrency holdings at over 42 million stores worldwide. This feature effectively solves one of the crypto space’s significant challenges: the ability to use digital assets for everyday purchases.

Crypterium also offers competitive exchange rates and low fees for crypto-to-fiat transactions, making it an attractive option for users. The platform’s integration of CeFi and DeFi finance services provides users various financial tools, including yield farming and staking.

Disadvantages

The Crypterium project, designed with a decentralized token, was rebranded as a centralized project. This introduced concerns for users who are faithful to Satoshi Nakamoto’s dream of decentralization.

The project also aims to combine centralized governance with decentralized governing features, which can make it unappealing to investors who want to have a say in the development of the centralized project.

Challenges

One of the primary challenges Crypterium faces is maintaining security in an industry frequently targeted by hackers and fraudsters. As Crypterium handles user funds and sensitive financial information, it must invest heavily in robust security measures to protect against potential breaches.

Cryptocurrency regulations vary significantly across different countries. Crypterium may not be able to offer its full suite of services globally, which could limit its appeal to international users.

Crypterium also faces the challenge of differentiation in an increasingly crowded market with numerous crypto platforms offering similar services.

Competitive Analysis

Swapin and Crypterium are mobile platforms facilitating cryptocurrency transactions but cater to users with distinct preferences.

Swapin prioritizes speed and a peer-to-peer (P2P) experience. It leverages the Lightning network for faster and cheaper transactions when paying bills and invoices. Crypterium, on the other hand, offers a more comprehensive suite of services for daily transactions.

Crypterium integrates fiat transactions, international payments, loyalty programs, and crypto-backed Visa cards to allow users to easily spend crypto globally. Swapin focuses on core crypto functionalities and architectural integrations, providing the basic features of a crypto platform.

How Can You Own CHO and CRPT Tokens?

Users can follow a simple process to own CHO and CRPT tokens and join the Crypterium ecosystem.

Setup a Wallet

One way to own CHO and CRPT tokens is to purchase them through an exchange. For this, the user must create a Gate.io account, complete the KYC process, and add funds to the account to buy the token.

Utilize the CHO and CRPT Tokens

Once users have acquired CHO and CRPT tokens, they can explore the Crypterium and Choise ecosystem by staking them, paying bills, purchasing NFTs, bridging, and participating in governance.

Take action on CHO and CRPT

Users can trade the CHO here. And the CRPT token here.