The cryptocurrency rise this year has seen it change from a “scam” a few years back to become the next big thing à la the Internet boom of the 90’s.
One of those shifts happening right now in the financial services industry.
Today, most of us still rely on traditional banks (which are not very efficient) to handle our daily transactions such as using your debit or credit cards to buy groceries, to moving money from accounts and paying your monthly bills.
The blockchain can make all of these processes MUCH faster and more importantly, cheaper for the end consumer.
Now, there have been attempts by blockchain startups for this sole reason; although their efforts are admirable, most startups only focus on one financial service or product instead of looking at it a whole.
One startup aims to change that.
Bankera aims to become a more efficient and cheaper bank for the blockchain community instead of using traditional banks.
The platform provides all essential financial services to users including payment services, loans, deposits, and even investments; all of this features are open and welcomed by the team to the ever-growing blockchain community.
By building the platform on the blockchain, Bankera effectively reduces the number of counterparties involved thus lowering the cost of banking for the end consumer regardless of the service or product.
Bankera is a banking platform that offers three main features to its users.
1. Cheap, effective, and 100% secured payments
What makes the platform unique is that all Bankera services support both traditional currencies (USD, GBP, etc.) as well as popular cryptocurrencies like Bitcoin, Ethereum, DASH, and more.
This feature is ever-expanding and in the future, users can expect linked currencies and the ability to use equity traded funds as a substitute for money in the platform.
2. Flexible loans and deposits
Bankera provides flexible loans and interest-generating deposits for its users. Deposits into the platform will receive fair interest rates just like a normal bank savings account.
Unlike traditional banks, Bankera clients have the luxury of benefiting from higher interest rates as Bankera has proprietary information about a borrower’s cash flow; this is only possible as loans are given to business clients who use the platform’s payment processing feature.
In layman’s terms, Bankera can assess the risk-level of a client (hence, offering more attractive interest rates) as they can see money moving in and out of a business.
3. Easy investments platform
Integrated into the Bankera platform is a fully-built investment platform with several different investment avenues.
Bankera puts more of its focus on low-cost investment products like equity traded funds (ETFs), cryptocurrency funds which are essentially portfolios of digital assets, as well as a unique robo-advisory solution for clients’ wealth management.
The Bankera team aims to expand its current investment offerings in the future with plans to include other investment channels like corporate financing strategies for business clients.
Although the technology behind it is complicated, the Bankera debit card works exactly like a normal debit card so users don’t have to worry about it being hard to use.
The Bankera debit card works at any point of sale where Visa and MasterCard cards are accepted while users have the option to choose between a virtual and physical debit card.
Just like reloading your debit card, cryptocurrencies can also be loaded on the Bankera debit card which processes instantly. Of course, loading your card with traditional fiat currencies like the USD or GBP is not a problem.
Users can manage their Bankera accounts from the convenience of their smartphones, with the mobile app being widely available on the Google Play Store and iOS App Store.
Merchants can also enjoy the benefits of Bankera. The platform’s payment processing platform allows businesses to accept fiat currencies as well as various cryptocurrencies easily.
Unlike other startups, Bankera already has an MVP named SpectroCoin that has been extremely successful despite being only launched not long ago.
SpectroCoin is a digital exchange that supports over 150 countries and more than 30 countries currencies.
SpectroCoin’s main objective is to offer customers access to a diverse range of cryptocurrencies with several core infrastructures that are arguably more effective than what traditional banks and current exchanges offer.
For instance, there are more than 20 deposit and withdrawal methods available on the platform which is far more than what other exchanges offer.
SpectroCoin remains an influential entity in providing wallet and exchange services for cryptocurrencies which leaves space for Bankera to become a revolutionary product focused on efficient payment and banking solutions for everyone.
To this day, SpectroCoin has over 400,000 users (and more signing up every day) while boasting an average daily volume that’s almost $1 million in value—an extremely impressive feat when you consider how short the platform has been in existence.
Although BNK (the platform’s official cryptocurrency) are ERC-20 compliant tokens, it will also be issued as NEM mosaics for the NEM blockchain.
BNK token holders enjoy the benefit of being entitled to a weekly commission from the platform which is a portion of the Bankera and SpectroCoin’s 20% net transaction revenue.
The main token sale is days away from launching but Bankera has already closed an extremely successful pre-ICO with an astonishing €25 million raised, making it one of the biggest pre-ICO sales to date.
Here are the details of the upcoming BNK token sale:
Token name: BNK
Token base: Ethereum (ERC-20)
Token supply: 10,000,000,000
Token sale duration: 27th November, 2017 – End of February
Token sale target: €450,000,000 (hard cap)
Token exchange rate: €0.017 – €0.024 = 1 BNK