Crypterium

Halal Rating :
Comfortable
Last Price $0.07 Last updated:
Rank 1335
1D Change 0.80 %
Market Cap $6.77m
Circulating supply 94,658,157
Maximum supply None

Crypto Overview

Categories
  • Services
  • Smart Contracts

Overview

Crypterium (CRPT) is a utility token powering the Crypterium ecosystem, which aims to bridge traditional banking with cryptocurrency through a mobile banking application. The project was founded in 2017 and aims to provide cryptocurrency-fiat payment solutions.

Intended Utility

The CRPT token is designed to serve as a utility token within the Crypterium ecosystem. Every time a payment is processed through the Crypterium wallet, a small amount of CRPT is burned, creating a deflationary mechanism. The token is meant to facilitate crypto-to-fiat transactions and power the platform's services.

Actual Utility Assessment

The platform demonstrates actual utility through its mobile wallet application, which allows users to store, buy, and exchange cryptocurrencies. The company has obtained relevant financial licenses and partnerships with Visa for their crypto card services. However, current on-chain data shows relatively low transaction volume and limited token utility beyond the platform's specific services.

Token Distribution and Governance

Initial token distribution showed a significant portion allocated to the team and early investors, with vesting periods in place. The project maintains regular development updates and has a transparent team structure. However, the token's primary utility remains confined to the platform's specific services rather than broader adoption.

Revenue Model

The platform generates revenue through transaction fees and exchange services, which align with Islamic finance principles as they represent actual service charges rather than interest-based income. The business model focuses on providing payment services rather than speculative financial products.

Crypto Impact

To assign a comfort level investing in Crypterium from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Crypterium.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

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Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

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Justification for our Halal Rating