Tigereum, found online at Tigereum.io, allows you to securely send cryptocurrency through encrypted instant messages. Here’s our review.
What Is Tigereum?
Tigereum is an encrypted messaging service that allows you to send small amounts of cryptocurrencies to friends and family. Sending crypto to someone is as easy as sending an instant message.
As the Tigereum website explains, “everyone will be sending money by instant message within 2 years”. However, to date, nobody can send crypto by instant message.
The token sale for Tigereum begins on December 8, 2017. Some media outlets are calling Tigereum “like Facbook for crypto”. With that in mind, let’s take a closer look at how Tigereum works.
How Does Tigereum Work?
The main goal of Tigereum is to enable anyone to send crypto to friends and family via instant message. To do that, Tigereum will launch an AI chatbot – similar to other chatbots you see on Facebook Messenger today.
A prototype for Tigereum has already been launched online. You can test that prototype for yourself today. It functions like an ordinary Facebook Messenger chatbot. To add that chatbot, click here.
The first goal of Tigereum is to launch a perfect chatbot allowing users to send and receive cryptocurrency via instant messages. Once they’ve accomplished that goal, they plan to take on bigger challenges.
Unlike other crypto sending services, you won’t need to use your digital wallet, fill out web forms, paste long crypto addresses, or manage QR scans. Instead, you can use Tigereum to send cryptocurrency anonymously (or with a disclosed identity) on any device from anywhere in the world.
Tigereum won’t be a free service. Tigereum plans to earn revenues from payments flowing through the platform. The company expects revenues to attract gross margins of 2% to 5%.
What Problems Does Tigereum Seek To Solve?
You can already send money by Facebook Messenger. WhatsApp, Skype, and other major messaging services are investing millions in exploring payments technology.
As the Tigereum whitepaper explains, “a revolution is occurring in the way we send money crypto should be at the forefront of this new wave but instead it is lagging behind. Digital wallets will not be able to compete with instant messaging for smaller money transfers.”
Today, you can easily send any amount of crypto between wallets. However, it’s not as intuitive as sending an instant message to someone. Tigereum wants to create that solution.
How To Use Tigereum
Step 1) Add Tigereum to your friends list on any instant messaging platform (a prototype is currently available for Facebook Messenger, although Tigereum will expand to other major messengers in the future)
Step 2) Open a chat with Tigereum to message crypto to a friend
Step 3) Tigereum will ask three simple questions in chat format, including 1) Which cryptocurrency do you wish to send? How much cryptocurrency do you want to send? Would you like to add a short message to your friend?
Step 4) Choose a friend (the recipient of your crypto) from your friends or contacts list on your device
Step 5) Details of the transfer will be displayed on screen; you can message those details to your friend
Step 6) Pay for the cryptocurrency you’ve chosen to send using your digital wallet
Step 7) Your friend can then deposit the cryptocurrency into their digital wallet, exchange it for fiat and deposit it into their bank account, or forward it to another friend
Tigereum aims to offer all of the following features while sending and receiving cryptocurrency:
- Send cryptocurrency anonymously, or with disclosed identities
- Use any device, like a smartphone, tablet, laptop, or desktop
- Send funds from anywhere in the world where you have internet
- Use the same instant messaging platforms you use today to communicate with your friends
- Avoid the use of new passwords, usernames, QR scans, new software, or new apps
- The transaction is fully secured by encrypted identity tokens
- Use any cryptocurrency
- Access the bot in your preferred language
How Do Tigereum Tokens Work?
Tigereum tokens will be the cryptocurrency used to send crypto to friends and family in an instant message. Senders will buy Tigereum tokens to message money, and then recipients will redeem Tigereum tokens into their preferred crypto or fiat currency to receive their money.
There’s a total supply of 50 million Tigereum tokens, with 40 million tokens available during the crowdsale.
The Tigereum Token Swap
Tigereum is calling its token sale a “token swap”. You’re swapping Ethereum for Tigereum tokens. Tigereum will make 40,000,000 Tigereum tokens (out of a total supply of 50 million) available for sale.
The token sale begins at 9:00 GMT on December 8, 2017, and ends on December 18 at 23:00 GMT. Tokens are priced at a rate of 1 ETH = 1000 Tigereum tokens, for an approximately value of $15 million USD.
On December 18, immediately after the conclusion of the token sale, Tigereum tokens will be listed on EtherDelta. Other exchanges will come soon after.
Tigereum also had a pre-sale period until November 20, 2017.
All Tigereum tokens are ERC20 tokens built on the Ethereum blockchain. Tigereum has partnered with The ICO Rocket to advise the token sale, while Aero Cards Limited is the custodian of project assets.
Who’s Behind Tigereum?
Tigereum is led by Darren Olney-Fraser (Chief Executive Officer), Tim Carmichael (Head of Shared Services), Shyaire Ganglani (Chief Marketing Officer), and Mark Edmondson (Chief Operating Officer). Prior to launching Tigereum, Olney-Fraser practiced law for 20+ years and became partner at a global law firm. He has also been the CEO of a listed funds management company for 10 years, and has raised and deployed over $200 million over the last 15 years. Darren founded Aero Cards Limited in 2015.
Facebook Messenger, WeChat, WhatsApp, and others already have some type of in-platform payment system – or they’re actively developing it. However, none of these payment systems can be used to send and receive cryptocurrencies. That’s where Tigereum wants to help. Tigereum is an AI chatbot that you can add to the messenger of your choice. You can use that messenger to easily send funds to any of your friends. You don’t need to download any special software – you just communicate with the chatbot, and your friend receives the funds quickly.
To learn more about Tigereum and how it works, visit online today at Tigereum.io. A prototype is already available for Facebook Messenger, and the company’s token sale begins in December.