Litepay was meant to revolutionize the cryptocurrency industry by allowing for the use of crypto for regular purchases of goods and services. The service was meant to use Litecoin (LTC) as the backbone of the conversion from crypto to fiat resulting in a price rally of the coin before the indefinite cancellation in March. The project could not find a merchant to support the card services need for it to function. However, Litepay was not the only project working on solving the problem of how we can use cryptocurrencies for regular day to day purchases. Crypterium (CRPT) had already welcomed the challenge of doing so from as back as October last year.
The Crypterium App that is now available for your mobile phone (Android for now), turns your cryptocurrencies into money that you can spend as easily as cash. When fully active, the app will allow you to shop around the globe, make online purchases, pay your bills and even send money across borders. With the app, you will be able to get a virtual card that will even enable you to link to your Apple pay, Samsung Pay or even Android pay.
It is with this background that the App is undergoing Beta testing in the country and continent of Australia. The residents of Australia will be amongst the first to get access to the crypto-to-fiat payment solutions offered by Crypterium with bill payments being the first to be rolled out. Beginning May 10th, the Crypterium team has been selecting users in the country to use the Android version of the app. There is also a reward system for such lucky testers. The App will then be rolled out across the globe gradually by the team.
Also to add is that the Crypterium app is gearing up for a new update in a week. This update will include the addition of the Japanese yen and additional security measures. The App already has wallet capabilities for Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Crypterium (CRPT); QR code payment capability; transaction history; and many more features.
The Crypterium (CRPT) token is the ‘fuel’ for these transactions and a fraction (0.5% of transaction) is burned with each payment made. This then reduces the circulating supply of CRPT, albeit very slowly. The token is currently trading at $0.80 and up 12.695 in the last 24 hours. It is currently available on HitBTC with more listings expected in the Summer. The project also got a major boost recently, when the former CEO of VISA in the UK, joined the team in a similar capacity.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels