Bankera is a digital bank designed for the blockchain era. Find out how it works today in our review.
What Is Bankera?
The cryptocurrency revolution is officially underway. However, many of us still rely on traditional banks to handle most of our daily needs – like using debit cards to buy groceries, or transferring money to pay our rent and bills every month.
Bankera wants to be a traditional bank for the blockchain community. The company provides the services of a traditional bank – including payment services, loans, deposits, and investments – but caters its services to the blockchain community.
Bankera was created by the same team that launched SpectroCoin. Today, SpectroCoin provides a cryptocurrency exchange, debit card, and payment processing.
Bankera Products And Services
Bankera offers three core groups of products and services, including:
Bankera offers payment accounts with personal IBAN, debit cards, interbank foreign exchange rates, and payment processing. Basically, all of the same services you have with your bank’s checking account can be found with your Bankera payments platform. All Bankera services will support both traditional fiat currencies as well as cryptocurrencies like bitcoin, Ethereum, DASH, NEM, ERC20-compliant tokens, and others.
In the future, Bankera plans to implement innovative solutions like GDP linked currencies and use equity traded funds as a substitute for money.
Loans And Deposits
Sure, we’ve seen a number of loan payment platforms emerge for the blockchain community, but the vast majority of the world relies on traditional banks for financing. Bankera offers loans and interest-generating deposits. Current deposits will receive interest just like a savings account would receive interest.
All Bankera clients will be able to benefit from higher interest rates because Bankera will have proprietary information about borrowers’ cash flow “as most loans will be given to business clients who use the payment processing solution.” In other words, Bankera will be able to assess the trustworthiness of a client based on the exact amount of money they see passing through the business.
Bankera will offer an investment platform with a number of different investment vehicles. The company emphasizes low-cost investment products like equity traded funds (ETFs), crypto-funds (a portfolio of cryptocurrencies and crypto tokens) and robo-advisory solutions for wealth management.
In the future, Bankera plans to offer investment banking services on an enterprise scale, including corporate financing strategies for business clients.
How Does Bankera Work?
Bankera has a minimum viable product (MVP) in place right now. You can visit and use that MVP on spectrocoin.com.
The exchange supports 150+ countries and 30+ currencies. 20+ deposit and withdrawal methods are available, including your credit or debit card, bank transfer, and cash.
The Bankera debit card, meanwhile, can be used at 30 million ATMs and 25 million shops worldwide (wherever conventional cards are accepted). It works wherever either MasterCard or VISA are accepted. Both virtual and physical debit cards are available.
Your cryptocurrencies can be loaded instantly onto your debit card. You can also load your card with different currencies, including USD, EUR, and GBP.
You manage your Bankera account from the mobile wallet, which will be available from the Google Play Store and iOS App Store (right now, the company links you towards the SpectroCoin wallet, which is available and widely-downloaded on both app stores).
Merchants, meanwhile, can use Bankera as a payment platform, and begin accepting cryptocurrencies and fiat currencies at their business through Bankera.
The Bankera ICO
The Bankera pre-sale is taking place between August 28 and September 28. The company is releasing 10% of its total supply of tokens.
The ICO, during which 30% of tokens will be sold, is scheduled for mid-October.
Investors can purchase Bankers (BNK), which are ERC20-compliant tokens built on the Ethereum blockchain. The tokens will also be issued as NEM mosaics for the NEM blockchain.
As a BNK token holder, you’ll be entitled to a referral commission that’s paid weekly. The commission will be a portion of the 20% of Bankera and SpectroCoin net transaction revenue. If net revenues from the Bankera platform are 10 million EUR for the week, then 2 million EUR as referral commission will be sent to the smart contract.
The price of BNK tokens depends on the total number of tokens sold during the ICO.
Who’s Behind Bankera?
Bankera is led by Vytautas Karalevicius, who is currently completing a Ph.D. in cryptocurrencies at KU Leuven University in Belgium. Other key members of the team include Mantas Mockevicius, who has 8 years of experience managing operations and compliance for electronic and digital money exchanges, and Justas Dobiliauskas (CTO), who has 9 years of experience developing software for medium and large financial institutions, and five years of experience working with blockchain technology and cryptocurrencies.
Obviously, a number of cryptocurrency companies plan to offer advanced banking services to the blockchain community. However, Bankera may have one of the most qualified teams in terms of their knowledge of compliance and regulatory activities.
The founding team behind Bankera owns and operates SpectroCoin, which is an e-wallet, debit card provider, and payment processor.
The company is based in London, UK and Vilnius, Lithuania.
Bankera is a new project created by the team behind SpectroCoin. SpectroCoin has evolved into more than just a cryptocurrency exchange: the platform offers bank-like services like a debit card. The team created Bankera to work as a traditional bank for the cryptocurrency community. Bankera plans to offer conventional banking services – like a debit card, checking accounts, and savings and investments. However, they plan to accept a wide range of cryptocurrencies and fiat currencies, making it the ideal choice for those who use cryptocurrencies – or just want to avoid traditional banks.
You can learn more about Bankera and their upcoming ICO today by visiting Bankera.com.