Centra, a credit card, cryptocurrency, wallet, blockchain, network, merchant services provider, and currency exchange. If this sounds like too much to be real, you’d be wrong. This company started selling tokens at $.50 each and their value has soared as they have developed an incredible platform, app, and credit card to make spending your crypto easy. They did things the right way and managed to avoid the hazards of the Waves network shutdown, making them the only game in town for a period of time.
Centra Card was the core product to bring the company to market in late 2017. They designed a currency exchange platform to easily spend Bitcoin, Ethereum, Centra Token (CTR), Ripple, DASH, Litecoin, Zcash, & Monero. They’ve also got plans to add 12 more crypto-currencies in 2018. All these tokens come together for easy spending in the Centra wallet. This is a solid business plan with some serious security concerns due to the centralization, however, effectiveness is paramount in such an instance. We’ve also not seen any attacks yet, so big thumbs up to Centra.
Ways to support the Show and get a top notch product:
Want to start into crypto safely and easily?
Securely store your crypto with a Ledger Nano S
Need to do a crypto exchange
A VPN is surprisingly important, support the show and start surfing securely.
Check out Binance, one of the most diverse exchanges on the market.
This has yet to be released and will likely not be until the completion and launch of the Delegated Proof of Stake blockchain in mid-2018. The exchange will rival that of Coinbase in ease of use, but will also allow trading of all cryptocurrencies supported on the credit card. The network and blockchain will enable the Centra market, already expecting to house 100K+ items for sale from vendors prepared to accept crypto. This will be groundbreaking as there are presently so few places to spend crypto and Bitcoin just isn’t feasible to make purchases with. Now you may have heard of Atomic swaps, or not, this is being referred to as a Currency Conversion Engine Module by Centra. This sounds extremely fancy, but in reality, it’s just a way of exchanging tokens without a central authority. (i.e. I want to buy some Stellar Lumens in exchange for Ethereum, this module allows me to do that without the use of an exchange.) These are off-chain transactions where you can swap one crypto for another. This is off-chain because blockchains can’t yet interact, requiring a centralized, trusted third party. This presents some problems as blockchain was designed to be trust-less. That being said, there are several projects working on making atomic swaps native in which case Centra will be well placed as a leading market force to lead that market sector and potentially push some of the larger, less trustworthy exchanges out of the way. To wrap this all up into a beautiful gift wrapped package, Centra is even giving rewards to token and cardholders. There is a bit of a trick to it, you must have a card and stake your tokens in the Centra wallet. Upside, we can make .2% of all network fees by doing this, downside, I don’t really want a card. Crypto is my long game, so I’m not spending. Either way, it doesn’t hurt, so I’ll go ahead and do it because I don’t hate money.
Interested in getting started with Bitcoin or Crypto in general?
Looking to learn more about starting in crypto, check out the ultimate beginner’s guide.
Listen to the Building Crypto Podcast & connect with us at:
Also published on Medium.