The concept of a cryptocurrency bank is enough to get the public excited, but it has just been an idea lately. Harald Seiz, the CEO for Karatbars International, made a point to get the public excited, because he had decided to announce his intention to open KaratCoinBank. This bank is the first crypto bank in Miami, and it set a launch date for July 2018, based on a report in CEOWorld Magazine.
By August, the industry was already talking endlessly about the opportunity, because it would be the first time that the crypto industry brought forth a bank that was fully licensed. Essentially, as the report said, “The focus of this bank is to develop the karat gold coins into a mainstream payment system.”
With the licensing of this bank, consumers are able to use crypto as a standard method of payment. However, unlike the opportunities with platforms, crypto used in this bank will have access to banking services in the same way that fiat currency is. However, rather than just offering customers the opportunity to support the Karatgold Coin, it also allows any user to use this bank.
Based on the way that the KCB Coin is being backed, this process qualifies it as a stable asset, and it is protected against inflation to maintain the value. The company has been around for seven years, and has managed to remain debt free, which should give faith to new investors as they start to use their services. As someone who deposits at the bank, the investor can take out the same value in fiat currency at any time.
Seiz, when discussing the creation of a cryptocurrency bank, has commented that it should help to make the acquisition of gold more affordable as a method of accumulating wealth. Once it is fully implemented, the bank will have services that are available to 120 countries, which makes it possible for anyone to take out their funds as needed.
Why Choose KaratCoinBank?
Presently, KaratCoinBank is a “unique business,” as the official website says. Seiz has made sure to setup the company with a compensation plan for participants, resulting in weekly payouts. Whenever the KCB Coins are sold, the investors get a portion of the profit, and there seems to be a constant flow of residual income from the transaction fees.
This bank is the first of its kind, and it boasts $100 million in capital right now, which is supported, “with our own KaratCoinBank coin[,] with our own Exchange[,] with our own Global Payment System[, and] with our own Gold Mine (in Madagascar).”
Purchasing Tokens And Available Bonuses
The official website for KaratCoinBank advertises that this is “the crypto bank for your future,” and there is a ticker on the homepage for a limited offer, providing a 50% bonus right now. There are just over 23 days left at the moment, ending on the 21st of January. In accordance with their original whitepaper, the bank has two more bonuses scheduled, though they are not as lucrative. The next one will have a 25% bonus from the 21st of January until the 21st of March, and then a 12.5% bonus until the 21st of May.
Investors have the opportunity to purchase tokens directly from the website by clicking the “Buy KCB Tokens” button on the website. Before the user can purchase anything, they need to create a login with their email address and a password, which they will need to confirm before participating. The company specifically follows “Know Your Customer” (KYC) procedures, which requires that the investors uses Chrome or Firefox, and has access to a webcam to confirm their identity.
Ongoing Progress In The KaratCoinBank
Even though KaratCoinBank is already in the middle of the first of three initial coin offerings (ICOs), they still have plenty of progress left to make. There is a project in the works with blockchain technology that will be used as the bank’s flexible fee system. Once implemented, it will be capable of being applied around the world for “payment of transactions using gold independently transparent decentralized.”
This year has already come with a lot of progress on the landmarks of KaratCoinBank. Some of the milestones that they have already met include:
- The application and approval of the licensing of the bank
- The addition of the KCB Coin into the Karatgold App
- The start of negotiations with financial market authorities for the banking license
- The work on the development of ATMs
- The creation of banking software that will support KaratCoinBank
By 2019, the company is planning another project – a crypto phone. It looks like the work on this phone is already underway, since they have partnered with Sony to make it happen. As far as mining, the project will be extending to Madagascar.
In 2021, the company is planning to establish two more gold mines that will allow them to put more coins in circulation. This same year, the company will also plan to launch ATMs for withdrawals at 10,000 locations.
Publicity For KaratCoinBank
Right now, there is been some talk about this upcoming bank towards the middle of the year from many reputable websites, but most of the reports came before the Fall. The latest information about this cryptocurrency bank will be found on the official website.