Unlike most cryptocurrency ratings published online, the Wise Crypto ratings have nothing to do with the current or future price of the currency. Whether or not a crypto is over or undervalued or priced today is completely irrelevant. Our research focuses on the sustainability of each project, the security, the use case, decentralisation, environmental impact, the technology, the scalability and the developers and teams behind the projects.
Crypterium (CRPT) Rating = 360/1000
Technology (0 to 300) = 140
- Speed (0 to 50) = 50
Transactions on the Crypterium platform are instantly confirmed. The platform leverages an instant processing engine that seamlessly allows fast crypto-and fiat-based currency transactions. The engine also enables faster interchangeability between the two currencies.
- Cost (0 to 50) = 20
Crypterium charges a small fee equal to 0.5% of the value of the transaction in CRPT for every transaction. Considering CRPT price at the time of writing ($0.609833), the transaction fee is quite affordable but may increase when large amounts of CRPT are transacted.
- Scalability (0 to 50) = 5
Crypterium suffers from immense scalability problems. The platform cannot handle a high traffic load, and users may experience problems when trying to log onto the platform and buy CRPT tokens. The immense scalability issues limit the usability and reliability of the platform.
- Reliability (0 to 50) = 10
Crypterium is a powerful international banking platform that instantly processes transactions. It provides users with a one-stop solution to all their crypto-related needs, be it a mobile crypto wallet, prepaid cryptocurrency debit cards, banking services and a platform for buying vouchers. However, the platform suffers from immense scalability issues that limit its reliability.
- Environmental Impact (0 to 50) = 50
Crypterium has minimal impact on the environment as it can run on a smartphone. Unlike BTC which can be mined, CRPT tokens were issued during an ICO sale. Therefore, the platform is environmentally friendly.
- Decentralization (0 to 50) = 5
The idea behind Crypterium is premised on a decentralized banking platform. The platform is basically a decentralized crypto-bank offering conventional banking services to users who want to use cryptocurrencies like cash & access financial services. The reality of it however is that currently the platfom is very much centralized and still using baby steps.
Security (-250 to 0) = -140
- DDoS Attacks (-100 to 0) = -80
Crypterium has faced several DDoS attacks since its inception. A distributed denial-of-service (DDoS) attacks occur when the network cannot handle excessive traffic. In such attacks, hackers disrupt normal traffic of a targeted server, service or network by overwhelming the target or its surrounding infrastructure with a flood of Internet traffic.
- Potential for Being Banned (-100 to 0) = -20
Crypterium is based in Tallinn, Estonia and is registered under the European Union laws. The platform is subject to a strict market audit that complies with European regulations, and that ensures the complete transparency and full accountability of a business’ operations. The platform, therefore, faces little possibilities of being banned.
- Network Vulnerabilities (-50 to 0) = -40
One of the critical network vulnerabilities on the Crypterium network is server outages due to high load. Server outages make it difficult for users to use the platform and expose it to hacking attacks.
Use Cases (0 to 500) = 260
- Initial Main Use Case (0 to 100) = 50
Crypterium was created to provide an open digital platform crypto-bank, capable of providing a user-friendly, global banking experience leveraging the power of blockchain technology (potentially a very interesting use case but questions arise over whether it needs its own token to provide the services on offer).
On the platform, users are not only able to store, spend, exchange, and borrow against practically any cryptocurrency but also benefit from crypto-fiat exchange services allowing them to spend their crypto easily in real-world purchases and transactions through a fast and efficient bid-offer matching through a mobile application. The platform also offers a wide range of financial services such as cashback programs, crypto payments, and other numerous payments mean including Android Pay, Apple Pay, QR, NFC, and other forms of banking functions.
- Mainnet Live (0 to 200) = 200
Crypterium ICO occurred in 2017, where $51 million was raised surpassing their earlier target by over 10%. CRPT went live on 25 January 2018 after it secured $51 million becoming the world’s largest ICOs based on the number of token holders. Crypterium’s token – CRPT – was at the time named in “Top-5 most promising coins of 2018” by one cryptocurrency news outlet.
- Additional Use Cases (0 to 100) = 0
Crypto casinos are a valid, legitimate and active use case: there are currently no Crypterium casinos or CRPT casinos.
- Additional Working Products (0 to 100) = 10
Crypterium launched the Crypterium debit, which is the first global cryptocurrency debit card. The card is linked to the Crypterium App and is powered by UnionPay. It can be used anywhere UnionPay is accepted.
Core Development Team & Partnerships (0 to 200) = 100
- Core Development Team (0 to 100) = 50
Crypterium development team is made up of C-suite executives with wide experience in the FinTech sector. The team is led by Steven Parker, the CEO and former GM of Visa, Austin Kimm-COO and co-founder, Rafael Corrascosa and other experienced technical and financial individuals.
- Partnerships (0 to 100) = 50
Crypterium has partnered with over 300 companies to increase the platform’s use cases. Notable partnerships include BitPax, World Capacity Builders, UnionPay, AliPay and WeChat, among others. KPMG are listed among the backers of the company.