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Crypterium Celebrates Third Anniversary With 21% Annual Yield on CRPT Deposits

Andrey Sergeenkov

The Crypterium digital wallet and card help to store, buy, invest, cash out, and spend cryptocurrencies on the go in our everyday life. Using the Crypterium app, which has over 350,000 registered users, one can avail of crypto trading services, open a savings account, and order the global Crypterium card. Recognized as one among the Emerging 50 in a FinTech 100 report published by KPMG and H2 Ventures, the app is available for both android and ios users.

On completing three years since the start of the company, Crypterium Wallet kicks off this holiday season with a limited promotion designed to bring prosperity to all new customers. Everyone signing up in the upcoming weeks will have the opportunity to open a CRPT savings account that pays an ultra-high annual yield of 21%.

Crypterium has a total token supply of more than 99 million CRPT coins, with a circulating supply of more than 84 million CRPT tokens. As a high-yield savings opportunity for its users, CRPT tokens on the user’s savings account would result in a 21% annual return. All CRPT deposits will be capped at 2000 CRPT per user. This activity is valid until January 11, 2021, or until the total deposit amount of 8,400,000 CRPT is reached.

New registered users of Crypterium are eligible to take part in this scheme. While this above-market yield is available for new accounts, all existing clients of Crypterium Wallet can still access the standard rate of 5.4% APY on all CRPT deposits.

New users need to open a savings account. CRPT saving accounts are highly secured. Apart from being a license-holding, fully-regulated financial institution registered in the European Union, the accounts are insured by BitGo, one of the global leaders in institutional custody services for digital assets. Crypterium has a three-layer security regime and an anti-fraud protocol in place for all its accounts.

The Crypterium Story

Crypyterium was founded as a for-profit company in late 2017 by Austin Kimm, Gleb Markov, and Vladimir Gorbunov.

The wallet services of Crypterium allow the purchase and cash-out services in more than 150 countries. In more than 180 countries, users are permitted to leverage the Crypterium wallet for exchange services. The other features on offer include a savings account, insurance against deposits, and the accessibility of the application on both mobile and desktop devices. The wallets do not offer any fixed amount of rewards in US dollars for people making successful references. Instead, it claims to allot unlimited rewards spanning over a lifetime to its referrers. The wallet also runs frequent cashback programs.

The virtual Crypterium card allows spending limits up to 10,000 Euros per month. The withdrawal limit in ATMs is fixed at 2,500 Euros per month. Users can link their digital card with their Crypterium wallets and top it up from the wallet. The wallet is compatible with ApplePay. To date, Crypterium claims to have issued more than 30,000 cards. Reportedly, its crypto card services are available for orders in more than 65 countries, with more than a million transactions processed every month. For its plastic card, Crypterium charges a delivery fee of 14.99 Euros. There is no maintenance fee imposed on recharges of 299 Euros per month. Otherwise, users will incur a maintenance fee of 2.99 Euros per month on the plastic card.

CRPT is the ticker name for the Crypterium’s native coin. The CRPT coin currently has a market capitalization of nearly 18 million US dollars. The token was launched on 31st October 2017, and the ICO continued till 6th January 2018. The CRPT token serves as a fee payment solution as well as an instrument of utility. One can leverage the token to meet the service needs of the platform.

A Year in Review

In 2020, Crypterium took multiple initiatives to augment its ecosystem in the world of cryptocurrency and beyond. One of the notable features introduced by the wallet was in the form of AI-based daily prediction of prices on the Crypterium wallet. The AI-based predictive models will project the future prices of assorted crypto-assets as chosen by the user. The feature will show a performance summary of the asset for a period spanning the past 30 days and will make predictions on the price for the next 24 hours. However, the predictions should be seen as more as guidance than a hard entry point.

In a bid to expand its utility, Crypterium launched a Crypto Loan service in 2020. People owning Bitcoin or Ethereum can avail of these loans collateralizing their assets. The service facilitates instant approval of USDT loans in less than a minute. The loans are available at 0% APR or annual percentage rate. To make it stand out from its competitors, Crypterium started approving multiple loans at the same time. There is the guarantee of 100 million dollar bank-grade security standard custodial assets that work as insurance against the lending.

We will have to wait and see how these services pan out for Crypterium in consolidating and expanding its user base in the future.

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