Know more about the utility of the XBANC token!
The XBANC token gives access to the services of the Bancryp platform, both for users and businesses that will enjoy the corporate features.
Bancryp is a promising project with exponential growth in Brazil and Latin America and, consequently, in other countries. It will offer the banking environment to which people and businesses are used to, but using cryptocurrencies instead of fiat money. Moreover, the platform will make available corporate solutions for businesses that use Blockchain or cryptocurrencies to offer quick liquidity to the everyday life of their customers.
Obtaining the Bancryp Card and Bancryp Move Wristband
Bancryp’s customers will have the chance to acquire the Bancryp Move, a bracelet that enables retail payments with cryptocurrencies like Bitcoin, Ethereum and others. Along with Bancryp Move, we also provide the Bancryp Card, an exclusive card for payment in POS systems.
In order to obtain both, the customer needs to have XBANC tokens. If (s)he does not have any, it will be necessary to acquire XBANC from a token holder or through an exchange.
Payment Fee
Imagine that you have a bank account in a Brazilian bank and, when you travel to other countries, you are able to use the bank’s card at a store. The bank ensured the transaction from your bank account in your home country’s currency to the store in the local currency, right? In addition, you most certainly paid a service fee and even taxes.
Every time people make payments using Bancryp and cryptocurrencies, Bancryp charges a small fee in XBANC token. That is, you need to have XBANC tokens in order to make payment operations.
This is beneficial for the customer because of the low fee and the fact that the deducted percentage is not made in the currency used in the transaction, but in XBANC tokens.
Cryptocurrency Exchange
Bancryp also presents customers with the possibility of buying XBANC tokens and other cryptocurrencies through an exchange.
Users will be able to use local currency to buy Bitcoin, Ethereum and other cryptocurrencies, but they need to obtain XBANC tokens beforehand to trade with other cryptocurrencies.
If, for example, in January of 2019 Bancryp has 100,000 new customers who want to buy Bitcoins, they will need to acquire XBANC tokens to, subsequently, purchase Bitcoins or other cryptocurrencies of their choice.
Exchange fee
Bancryp also charges a fee for each buy or sale operation in the exchange, which ensures two crucial elements:
- Income for Bancryp
- Demand of XBANC token to use in the buying or selling of other cryptocurrencies
The operation fee for buying or selling is 0,5% of the total amount, and it is charged in XBANC token.
Whitelabel
Bancryp has a Whitelabel solution aimed at businesses such as exchanges that want to offer their customers a customized card that can be used in thousands of commercial establishments and e-commerce spaces that accept Bancryp.
There are operation costs charged to these businesses whenever a customer makes transactions. All of these fees will be collected in XBANC tokens.
Let us clarify that, although customers from other companies don’t need to have XBANC tokens, businesses will need them so that operations with the customers’ cards operate correctly.
Market Information
This article only mentions some of the features that the XBANC token will have in the Bancryp platform. However, the future will most likely bring new features and ways to use it.
However, the above explained features are responsible for a great volume of transactions, taking in account that the XBANC token is necessary to use the only Brazilian cryptobank service today.
Our studies and forecasts estimate an average movement of over 90 million XBANC tokens in 2019, only in Brazil.
Bancryp already has plans for an international expansion of our operations between 2019 and 2020.
The XBANC token holders that obtain them during the ICO will be the only ones able to supply those tokens in the future, be it P2P or through exchanges that offer support. After the ICO, the sale or trade value of each XBANC is defined exclusively by holders and not by us from Bancryp.
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