Author: Cryptobuyer is a leading crypto asset company which facilitates the integration of digital currencies in your everyday life by enabling the exchange of digital currencies, digital payments, BitATM franchises, and BTM multi-asset machine solutions without the need to go through a third party financial institution.
Moreover, Cryptobuyer was the very first company in the world to install a Crypto ATM with integrations of Dash, Litecoin, and Bitcoin, in a commercial bank partnership in Latin America. It’s also the very first fully compliant platform to operate in the region properly.
Cryptobuyer is having its Initial Exchange Offering (IEO) set for April 23rd on the popular Coineal exchange. The event will have 150,000,000 XPT tokens allocated for $0.01 each, and it will go through two phases – a presale and a public sale.
What is the Project?
Cryptobuyer was founded in 2015, and it proudly boasts a team with international and entrepreneurial expertise in the blockchain space. The project’s goal is to spread the reach of cryptocurrencies by effectively integrating them within products of people’s daily lives, as well as services so that more users can benefit from the advantages of digital currencies.
With this said, the company has a diversified portfolio of products which include:
- BTMs: The Bitcoin Teller Machine (BTM) network of Cryptobuyer takes advantage of industry-leading hardware of supreme quality and resilience. It also offers an open-source software which could be modified to meet the specific needs of the customer and user.The BTMs are compatible with a lot of different digital currencies, while other existing currencies can be easily integrated.
CryptoBuyer’s BTM - Point of Sales (POS): The POS solution works with a technology that reads QR codes, and it’s currently the most accessible technology for any kind of device. The POS solution offers a very convenient system which automatically converts cryptocurrency payments to fiat currencies, eliminating the friction when it comes to adoption for merchants.
- Web Platform: Cryptobuyer’s web platform includes features that are designed to appeal to users of online platforms. These include fast KYC, security hosted by leading industry companies, multiple cash-in and cash-out options, simple registration, and so far. It has also integrated a utility bill payment service solution such as mobile phone top-ups spread across 180 countries with more than 600 operators.
- Mobile App: The mobile app of Cryptobuyer is intended to fit all of the solutions in one place and provide a simple and easy-to-use interface. It’s compatible with Android and iOS devices, and it guarantees broad access in emerging countries.
How Does it Work?
The overall strategy of Cryptobuer is to provide merchants with a better way to buy and sell digital currencies by expanding its international network of BTMs to markets where the demand is high.
The stage is set for adoption. The Argentine Central Bank has requested for the private installation of ATMs to address the increasing deficit. Currently, Cryptobuyer has a partnership with the manufacturer of ATMs who are building hybrid ATMs. They can be interconnected with banks and have a functionality to buy and to sell digital currencies.
Mexico, on the other hand, is the largest remittance market in the world. There are only five cryptocurrency ATMs in Mexico City. Venezuela is also presenting massive opportunities because of hyperinflation.
Cryptobuyer has already made serious advances, partnering up with supermarket chains, as well as convenience stores, even including marquee names such as 7-Eleven.
Token Use
Cryptobuyer is issuing an ERC-20 token which is ticked XPT. It will allow token holders to claim a share of the gross revenue (fees) which are generated by all of the products of Cryptobuyer.
The token represents a share in the success of the company, as well as of its business model. The reward will be distributed through a secondary token which is called CBPT – short for Cryptobuyer Profit Token. It will be pegged to the USD one to one.
On the other hand, everything you need to know about the tokenomics is in the table below.
Token Sale Information
Cryptoubuyer will take advantage of the relatively new fundraising model called Initial Exchange Offering (IEO). It will take place on cryptocurrency exchange Coineal.com on April 23rd at 15:00 UTC.
The IEO will be consisted of two sessions and will allocate a total of 150 000 000 XPT tokens, each valued at USD 0.01.
Session 1:
Presale Time: April 23rd at 15:00 UTC – April 27th at 15:00 UTC
Presale Supply of XPT: 50,000,000
Price per 1 XPT = $0.01
Bonus: 12% and 5% for referrals that invest
Session 2:
Public Sale Time: April 27th at 15:00 UTC to April 30 at 15:00 UTC
Public Sale Supply: 100,000,000
Public Sale Price per 1 XPT = $0.01
Bonus: 10%, 5% for referrals that invest
Once the sale is completed, the XPT token is going to be listed and included in Coineal.
Team Members and Advisors
As mentioned, Cryptobuyer boasts a team of internationally renowned experts in the field of blockchain and entrepreneurship. Here are some of the team members and advisors.
Team Members
Jorge Farias – as the CEO of Cryptobuyer, Farias has more than ten years of experience in the field of digital commerce. He has also been a country manager for Bitpagos (currently Ripio) in Venezuela and as a country manager of cloud money solution AirTM in Venezuela and Argentina.
Ruben Colina – he is the CTO of the company and is an experienced systems engineer. With more than a decade of experience in the development and the implementation of complex software projects for both private and public organizations.
Angel Graterol – Angel is a system engineer with additional proficiency in IT, design, and management of information systems, systems security, and DevOps with more than eight years of experience. He’s the CIO of the company.
Advisors
Randy Hilarski – he is a popular cryptocurrency influencer and an expert in global relationships. He’s worked on projects such as Zencash, Superior Coin, Steem, Arcade City, and much more.
Pablo Lopez – Pablo is the CEO at Creativigo Consultores de Innovacion. He is an experienced professional who executes projects of organizational innovation and designs products and services in the field.
Ivan Novosiolov – Ivan is a renowned marketing expert with more than ten years of experience. He has managed to create, implement, and execute several marketing and advertising campaigns, including agitation and election campaign management in the US highlights.
Partnerships and Investors
Cryptobuyer has already managed to establish important partnerships which are paving the way for its further success. These include, but are not limited to:
- 7-Eleven – the largest convenience stores chain in Mexico
- e-Pagos by Brinks Inc – payment method used for online purchases
- Mercado Pago – Payment processor with more than 200,000,000 registered users
- Oxxo Mexico – Convenience store chain with 14,000 stores in Latin America
- Bitrefill – it offers more than 250 gift card options and it enables top-ups with over 700 phone operators
In addition, Cryptobuyer has managed to raise an undisclosed amount from the South African venture capital firm Invictus Capital. They are also backed by the Applicature.com firm for the development and the audit of the smart contracts and the platforms.
Conclusion
Cryptobuyer does seem to have it all figured out. It has targeted a market which has already displayed a demand for cryptocurrencies, while also lacking the necessary infrastructure for their proper integration. Of course, there are also challenges ahead.
Pros and Cons
Pros:
- Diversified and fully-fledged portfolio of products
- Very well-thought-out strategy
- Professional team with appropriate experience
- Approved for an IEO
Cons:
- A challenging market that needs further acceptance
If you want to stay constantly updated with any news and updates coming from Cryptobuyer, you can follow them on Twitter, Facebook, and Instagram.
