As cryptocurrency supporters/enthusiasts/investors I think it is fair to say that we all have one goal which is shared communally: we wish to see a profit from our investments. Even if, as an investor, we do seriously believe in the technology which backs the cryptocurrency we may have decided to HODL (I personally do not invest or write articles about a project if I do not believe in the project/product), we would all be lying if we said that we would be happy to take a financial loss on our investments.
Well, while I could never guarantee that a project I suggest to you will inflate in value, what if I told you there was a cryptocurrency which was backed by a real company that had been involved in the cryptocurrency industry since 2014? Not only has it been involved in the business for some time, but it also has a fully working mobile app on Google and Apple devices, a plan to introduce a fully functional prepaid crypto debit card, and even plans to reward token holders with a share of the profits which it generates?
Although it may sound a bit like the company I speak of is a golden egg laying goose – too good to be true – I can assure you it isn’t. Let me introduce you to Cryptopay and their CPAY token.
A Real Company Registered in the UK
As briefly mentioned above, unlike the majority of cryptocurrency projects, the Cryptopay LTD company is one which is already registered within the United Kingdom (I have checked on the official Company House website), and has been since 2013. While it may not sound like much of an accomplishment to have a company registered in the UK for a significant portion of time, I feel the need to reiterate the fact that by doing so the company has proven that it is able to provide a level of stability to its share holders, something which is hoped will be passed on to any token holders.
Another factor of official company formulation in the United Kingdom, which I believe should not be overlooked, is the fact that it provided any prospective investors with a level of accountability regarding the operation of the company. By registering a limited company the owners of Cryptopay have demonstrated their belief in, and dedication to, their project as they have opened themselves up to scrutiny within the British legal system.
While the Cryptopay LTD company is registered within the UK, their ICO was registered as a tax exempt foundation in the Cayman Islands. This brings me on to the topic of the CPAY token.
What is the CPAY token?
Simply put the CPAY token is a cryptocurrency asset which entitles its holder to a share of the revenue which is generated by the Cryptopay company. While the majority of revenue sharing tokens specify that they will only provide the ability to share profitable income among its token holders, the CPAY token entitle’s token holders to a share of the company’s revenue, even if it is operating at a loss.
You’d be easily forgiven for thinking that offering a revenue sharing program which could see a company operating at a loss is a bad idea but, personally, I do understand the logic behind it. By providing its token holding community with the ability to claim a share of the company’s revenue, regardless of whether it is operating a loss, the team behind it have displayed a huge sign of faith in their product, and dedication to their community.
Since the completion of the CPAY token ICO, in November 2017, the company has managed to distribute over 90 million tokens, acquired a total user base of over 800 thousand people, and gained listing on both IDEX and HitBTC.
At present the Cryptopay company has provided its user-base with the ability to easily buy and sell Bitcoin with credit an debit cards, as well as provide them with the ability to buy Litecoin in the same manner. Their system is one which is offering apparently competitive rates of commission on both cryptocurrencies and they plan on implementing Ethereum in the near future.
An interesting proposal from the Cryptopay team is the ability to buy traditional stocks with Bitcoin. They are planning on allowing users to, for example, buy stocks in Apple or Microsoft without having to transfer their BTC into a traditional fiat currency, this has the potential to expand the grasp of not only Cryptopay, but of the crypto industry as a whole.
How to get CPAY tokens
As mentioned above, at present the only way to get CPAY tokens is to buy them on an exchange. At present you can buy them on IDEX and HitBTC – links to both are below this post. The only trading pair which you can use to buy CPAY is Eth although a BTC pair is impending on HitBTC.
If you wish to find out more about the project please check the links below and do your own research before buying anything – as always.
Please remember that this article is not to be taken as any form of investment advice and that you should do your own research before investing your hard earned cash into anything. We would also like to remind you that Something Decent is not in anyway responsible for the distribution of airdrops, bounties or giveaways unless it is stated that we are personally conducting them