Crypterium wallet review 2021: based on real Crypterium experiences!
Crypto investments have grown in popularity over the past few years. Companies want to respond to this by making it possible to pay with crypto. Crypterium is a new payment system that will allow you to pay with cryptocurrency in every shop worldwide, as we will show in this Crypterium review.
This is possible because of a blockchain technology that Crypterium calls a cryptobank. How this works exactly we will discuss in this Crypterium review.
Crypterium review: choose the right broker for crypto
1 - Choose a broker: Choose one of the various online brokers that best suits your trading strategy (such as eToro)
2 - Sign up: Go to the homepage of your chosen broker and create an account.
3 - Verify your account: By going through the KYC process you can deposit money and make your first investment.
4 - Start trading crypto: After verifying and depositing money into your account, you can start trading crypto!
Do you want to get started at a broker with low costs? We recommend eToro for beginners and experienced investors!
There are many different online brokers on the market, making it difficult to choose the best one for your trading strategy.
In our articles, we list several brokers with their features and advantages and disadvantages. In this article we will discuss Crypterium and why it is a good idea to use the Crypterium wallet for payments.
With the Crypterium wallet you can pay with cryptocurrency in any shop worldwide. You can use the Crypterium wallet contactless. Want to know more about the Crypterium Wallet? Then read this Crypterium review or read our article about the best crypto wallets of 2021.
Crypterium Review: a brief introduction
Crypterium is, in short, a new payment system with which you will be able to pay with cryptocurrency worldwide and in every shop. This is already possible without a bank card or credit card. This is possible because of a blockchain technology which Crypteriun calls a cryptobank.
A blockchain is a large database in which transactions can be stored. These can be many different types of transactions.
This database is open for everyone, so when you have an internet connection you can already view the pages just like any other website.
Crypterium is intended to make it possible for every smartphone user to use the Crypterium wallet. You can use the wallet to make contactless payments with your cryptocurrency. But how exactly do you get money in the Crypterium Wallet?
First, you can create an account at an online broker of your choice. Then, when you make investments and earn crypto with it, you can put this crypto in the Crypterium Wallet. You can then use this to make payments. From the Crypterium Wallet you can make contactless payments all over the world and in every shop.
One of the online brokers you could invest with to transfer those investments to the Crypterium Wallet is eToro. With this online broker, the minimum amount you need to deposit to get started is only €42, which is relatively low compared to other online brokers.
Can't wait to make investments at an online broker and save them in the Crypterium wallet? Then get started at eToro today by creating an account!
Crypterium Review: Is Crypterium safe and reliable?
It is of course important that you always store the cryptocurrency you have bought safely so that no one can get to your digital coins. This can be done, for example, by leaving them on eToro and securing your eToro account properly.
Is logging in at Crypterium secure?
Creating an account at Crypterium is easy and you can choose to do this in your browser or use the mobile application for iOS or Android. With your account you can buy, send, pay out, exchange and store cryptocurrency.
Crypterium indicates that your account is well protected by 3-layer security and an anti-fraud protocol. Your account on Crypterium seems to be safe because of the good security.
How trustworthy is Crypterium? Is Crypterium Scam?
Unfortunately, this does not mean that Crypterium is completely reliable, online you can find many Crypterium reviews from customers who have problems with the platform. For example, in their Crypterium review, a number of customers complain about the fact that they cannot pay out cryptocurrency anymore.
Sending cryptocurrency to another wallet is also sometimes problematic or even impossible. On the website of Crypterium, there are a number of documents that list all the conditions for customers and protection schemes.
Crypterium Review: How are customers protected?
The striking thing is that Crypterium claims on their website to be a European entity and to have a European license. The first claim seems to be correct, as the company states that it is based in Lithuania and/or Estonia.
A European licence often means that a company in the financial world is registered with a regulator such as the AFM. This supervisor checks whether the company complies with European legislation and regulations.
However, we can't find any mention of a licence, which leads us to suspect that we could be talking about a Crypterium scam. Normally, a company has a license with a European regulator that can keep an eye on whether the company adheres to all European laws and regulations.
Besides the licence, Crypterium states that it currently has offices in London, Talinn and Moscow. Customers are protected at Crypterium according to the documents on the website. Since the licence is not reflected on a regulator's website, you cannot be sure whether these protocols are actually carried out.
Also, start with a regulated broker where you can easily buy cryptocurrency like the popular eToro!
Crypterium Review: How do I get started at Crypterium?
Opening an account at Crypterium is free and suitable for both experienced and novice investors. At Crypterium you can deposit your earnings in the wallet and use it to make payments.
You can log in via the Crypterium website, but you can also immediately download the app of the Crypterium wallet that the platform offers.
How does the Crypterium wallet work?
The Crypterium platform is basically a wallet where you can store cryptocurrency, but in the meantime a number of other functions have been added. For example, you can easily buy and sell cryptocurrency through the platform and exchange coins for other coins.
Subsequently, you can use this wallet by applying for a VISA card or by paying via the iOS app in combination with Apple Pay, for example. This way, you can use the wallet as a means of payment and you can easily pay with cryptocurrency.
You also have the option to store your cryptocurrency on your crypterium account to receive interest.
We do not recommend this last option, as you have already read that there are a number of Crypterium reviews from users who indicate that selling and paying out cryptocurrency is sometimes stopped at accounts.
Buy Cryptocurrency through Crypterium Review
When buying crypto through Crypterium, you are not directly buying the coins from the platform itself, nor are you trading with other users on the platform. Crypterium uses Crypterium SX, a program that scours all major crypto exchanges for the best deal for you.
So it could be that you complete your transaction at an exchange like Coinbase or Binance. The first time you buy cryptocurrency through Crypterium, you will pay no transaction fee, after that you will pay 1% if you invest more than €250 and 2% if you invest less than €250 at once.
Payout to Visa Card Crypterium Scam?
You can easily pay out the cryptocurrency you have stored at Crypterium to your credit card so you can pay with euros there. So the cryptocurrency you send to the credit card will be converted into euros from that moment on.
Do you know enough after reading this Crypterium review? Then start buying crypto yourself at the online broker eToro!
Crypterium Review: supported coins
Crypterium currently supports mainly the larger cryptocurrencies. Below you will find an overview of the coins you can currently buy, sell and store at Crypterium.
Basic Attention Token (BAT)
Crypterium ICO: The own Crypterium token
Above you can also see Crypterium (CRPT) in the first column, this is the proprietary token that Crypterium brought to the market through the Crypterium ICO. The Crypterium ICO was between 24 October 2017 and 5 January 2018.
A total of 210 million ERC20 tokens with the name CRPT were purchased in the Crypterium ICO, the price was set at 0.0001 Bitcoin which fluctuated between €3,000 and €15,000 during that period. More than €43 million worth of Crypterium tokens were eventually purchased during that period.
Since the Crypterium ICO, the price of the token has mostly fallen, even in early 2021 when things were going very well again for most cryptocurrencies, the price of Crypterium was disappointing. Looking back at the Crypterium ICO, the company managed to build up a good hype.
This hype was triggered by the fact that Crypterium news could be found in more and more places and more positive reports about the service were coming out via Crypterium news stories, but also via social media.
An important fact about cryptocurrencies is the 'Fear Of Missing Out' and this is also true for large new cryptocurrency projects. Because of the Crypterium news, investors saw this company as 'the next big thing' and started to invest, but in the end it did not deliver what they had hoped for.
Do you also want to start buying cryptocurrencies such as the Crypterium token? Then simply create an account at eToro and make your first investment today!
There are a number of different fees that are charged with your Crypterium account and these depend on the features you use.
Cryptorium Review: What are the Crypterium fees?
For example, there are different fees for buying and selling cryptocurrency and you also pay for the Crypterium Visa Card.
Crypterium Review: costs of cryptocurrency
When buying cryptocurrency the first time you pay 0% transaction fees, it is therefore advisable to buy crypto for a large amount the first time. Afterwards you will pay transaction fees and this way you can get a higher return on your first investment.
From your second purchase onwards, if you invest less than €250, you will pay a 2% transaction fee, which in the case of €250 means €5 that you will have to pay to Crypterium. For an investment of more than €250 the transaction fee is reduced to 1% of the transaction.
Crypterium Review: Visa fees
To use the Crypterium Visa Card you will pay €2.99 per month. Every time you pay with the Visa card it will cost you another €0.25.
Furthermore you will pay 2.5% for every purchase you make with your Crypterium Visa Card that is not in your own currency. This is the Foreign Currency Transaction Fee. If you want to withdraw money from your Visa card at an ATM, you will have to pay €3 and 1.6% of the transaction fee.
Costs of selling and paying out cryptocurrency
Crypterium offers two ways to sell your cryptocurrency and receive payments. Firstly, you can send the cryptocurrency to your Crypterium Visa Card, in which case you will pay €2.50 and a 2.5% transaction fee.
In principle, Crypterium does not charge any transaction fees for selling cryptocurrency and having it paid out in euros. It is possible, however, that the blockchain network of the currency you are selling charges standard transaction fees.
Tip: At other brokers, it is sometimes possible to invest in shares and ETFs without paying commission. At a broker such as eToro, for example, shares and ETFs are offered with 0% commission.
Crypterium Review: How is Crypterium's customer service?
Crypterium's customer support basically starts with a help center, on this page of the website you can find answers to all the important questions you might have about the website. If you still can't find a solution, there is also the option to contact Crypterium's customer service team.
The support team starts with a questionnaire about which platform you are using, where the problem lies (with the visa card, wallet, exchange, payout, etc.) and then you can send them a message with your problem or question. You can attach 5 files to this question in order to clarify it.
At the end, you have to provide the e-mail address you use for Crypterium and you can choose to provide a phone number. It must be said that a number of Crypterium reviews from users on the Internet indicate that the customer service is not or not quickly responded to.
There is also no time limit on when your question will be dealt with or when you will receive an answer.
You can also contact Crypterium via other channels such as email, facebook, twitter, telegram and instagram. Again, it is unclear how quickly they respond or through which channels you can best be helped.
Crypterium has a structure for customer service, but it is still unclear when you can expect a response and which channel is most convenient.
This lack of clarity, in combination with negative Crypterium reviews that are specifically about customer service, makes it likely that the customer service is not good enough.
What are the reviews of Crypterium users like?
As with any company, Crypterium has both positive and negative reviews on the internet. These Crypterium reviews from users say something about how well the platform works.
Basically, the functions are all good to use and many customers are satisfied with the platform and its ease of use. The ability to apply for and top up a Visa card is also welcomed by many users.
However, it is not good to see that all negative Crypterium reviews boil down to the same point. There are many accounts that have been blocked and can no longer withdraw money from their account.
All in all, we can conclude from the Crypterium reviews that the website basically works legitimately, but there are some problems around accounts. There is no question of a Crypterium scam, but as a user it is advisable to be careful when choosing this platform.
Are you looking for a broker where you can trade safely? Take a look at our article on the best brokers today!
Do you also want to start buying cryptocurrencies and get started with the Crypterium wallet as soon as possible?
Crypterium Review: Frequently Asked Questions
Platforms like Crypterium are called 'Fintech' companies. Companies that deal with finance and technology. In this case, Crypterium focuses entirely on buying, selling, sending, storing and exchanging the largest cryptocurrencies.
Calling Crypterium a scam is perhaps a bit hasty, but there are many negative Crypterium reviews online that can give you this feeling.
In addition, it claims to have a European license, but you can't find out which license this is and what it entails. This certainly makes you question the reliability of Crypterium.
The costs you incur when doing transactions with Crypterium can vary a lot. For example, as soon as you start buying crypto from the platform, the website will look for the best deal for you.
The transaction fees you pay are 0% the first time, after that you pay 1% transaction fee for purchases over €250 and 2% transaction fee for investments of less than €250.
When paying out to your credit card you pay €2.50 + 2.5% of the amount you pay out. For the credit card itself you pay € 2.99 per month.
At this moment the only feature Crypterium offers that you don't find on many other platforms is the credit card. The fact that you can pay directly with crypto via a card is therefore currently the only reason to switch to Crypterium.
As always, Crypterium reviews are quite diverse, some users are very enthusiastic about the user friendliness of the platform. But there are also many negative Crypterium reviews which mention that their account was blocked and they could not get their money from the platform.
Crypterium Review : Conclusion
More and more companies are coming up with solutions for the world of cryptocurrency. For example, Crypterium has designed a platform where you can buy, sell, exchange, store and spend crypto.
Especially the combination with a physical credit card can make it interesting for consumers to start with Crypterium.
The platform seems basically safe, but there are some things you should pay attention to; for example, Crypterium reviews from users show that for some accounts it is impossible to withdraw their crypto.
Therefore, according to our Crypterium review it is advisable to look for an alternative to Crypterium. For example, you can easily start at the popular online broker eToro, where you can also buy, sell and store cryptocurrency and make use of handy features such as CopyTrading.
Do you want to buy crypto after this Crypterium review?
Then quickly and easily create an account at eToro and start today with your first investment in a crypto currency of your choice!