3 Intro questions:
- Basic Project Intro/explanation
CryptoLocally is creating the easiest and most accessible fiat gateway to DeFi and its tools for everyone. Our goal is to empower all people with the tools to take control of their financial future.
By eliminating the middleman, CryptoLocally enables people to bypass the onerous fees, interest rates, and other restrictions traditional financial institutions impose.
CryptoLocally is already a trusted provider of a peer-to-peer (P2P) digital asset marketplace with no middle-man; it offers out-of-band payment methods and a revolutionary smart contract escrow.
People can meet in person, send a bank transfer, or use KakaoPay, AliPay, WeChat Pay, Venmo and more – all in a currency the buyer and the seller decide to use. All the while, their digital assets will be secured in an escrow that is safer than a traditional bank account.
- What are some upcoming milestones or events that you want to bring to our community’s attention?
We recently released our Finance Wallet, which provides a one-step fiat gateway to DeFi for everyone on CryptoLocally. The Finance Wallet will evolve into CryptoLocally Vaults (maximized yield cross-chain through smart contract investment algorithms). We are also building out a way for users to govern and manage the platform by voting with $GIV when we launch GIVernance.
We also just closed the private sale round for $GIV and the public sale will start very soon. We will make announcements about it in the near future, stay tuned.
- What is the role of GIV token to your ecosystem? What are the use cases of GIV token?
Right now you can earn $GIV while trading on CryptoLocally, after each trade, both users are awarded GIV based on the traded amount.
You can also earn interest on your $GIV holdings directly on the DeFi wallet.
There’s a couple more cool features like boosting your offers or buy fees rebates with your $GIV.
On top of this we are currently building two major DeFi features around $GIV;
First, CryptoLocally Vaults (CLVs) which are non-custodial, smart contract based algorithms deployed across multiple chains. The CLVs will work in the background and apply strategies that optimize yield for users that invest into the vault pools.
This will allow users to earn maximum yield on their crypto assets across all chains, all in one place, with the click of a button.
The second one is GIVernance; GIV will evolve to be a governance token on the platform, offering a truly decentralized solution. Voting rights will offer GIV holders the ability to control the level of inflation, interest and free float (by way of token burns), vote on CLV strategies and finally vote for new listings on CryptoLocally.
Twitter Questions:
Twitter: https://twitter.com/cryptoizmedia/status/1307977861437898752
Q1. https://twitter.com/Jessica_Evans82/status/1308692090453458945
Most investors want to invest in work products or MVP. What is the current state of your CryptoLocally products and CryptoLocally wallet?
The platform has been online for almost a year now, we started with a marketplace for EOS.IO token only and then added other chains like BEP-2, ERC-20 and TRC20.
CryptoLocally was built from the ground up from our team. We have a real platform with 15K+ users and it is still growing.
We recently released our Finance Wallet, which provides a one-step fiat gateway to DeFi for everyone on CryptoLocally. The Finance Wallet will evolve into CryptoLocally Vaults (maximized yield cross-chain through smart contract investment algorithms).
Compared to most teams out there, we are doing a token sale while already having a fully working product and also found product/market fit. We are using this token sale to fuel our engines and shoot for the stars :).
Q2. https://twitter.com/Emidm28/status/1308620645937418240
Besides Binance DEX and CryptoLocally, will there be other exchanges to trade our $GIV in the near future?
Yes. Just want to put out there that we are definitely not limited to Binance Chain 🙂 It’s easy to facilitate GIV swaps to different chains given our design.
The public sale is coming very soon and we’ll be announcing details in the next few days.
Q3. https://twitter.com/KathDM3/status/1308607051334066177
Do you consider it easy to trade on CryptoLocally? Do you consider CryptoLocally user friendly with beginner users?
CryptoLocally enables online and offline transactions in locations and currencies ignored by the traditional banking industry. A wide range of payment methods is supported to empower all types of users and give them a chance to play their part in the crypto economic revolution.
Finally, unlike centralized crypto exchanges, CryptoLocally enables users to trade directly between one another. This makes the transaction simple and fast, doesn’t require any trading skills and removes the need of centralised corporate intermediaries.
Essentially, it is extremely easy to use your preferred payment method on CryptoLocally. PayPal, gift cards, WeChat Pay, etc are all supported. We support local payment methods around the world.
A lot of new-to-crypto users come to CryptoLocally to buy their first cryptos. They usually get better prices than they would elsewhere. Sellers on CryptoLocally can make profits by trading a lot on CryptoLocally through GIV rewards and trading margins.
Q4. https://twitter.com/Ksalom95/status/1308616508654989312
Can I buy from Fiat with the local currency of any country? Or simply with the most popular currencies like USD and EU?
Yes we support pretty much all currencies, since CryptoLocally is non-custodial, you never have to deposit FIAT money on the platform at any time. During the trade, the buyer pays the seller directly using a payment method they agreed on.
The crypto assets are directly sent to the smart contract address and released only when the seller confirms the FIAT payment reception. CryptoLocally doesn’t hold custody of users funds.
To ease the FIAT part of the trade we kept adapting the platform to our users local needs, we already support over 30 payment methods around the world. These include local payment methods like WeChat Pay (China), KakaoPay (Korea), ChipperCash (Africa), PayPal (Global), etc. Gift cards just got listed as a payment method too!
Learn more about our trading process by reading our guide here: https://cryptolocally.com/en/eth/how-to
Q5. https://twitter.com/groupcoinfee/status/1308655836613365762
What is the real life problem this project aiming to solve with Blockchain?
According to the World Bank’s most recent Global Findex data on the subject, In 2017, about 1.7 billion adults remained unbanked.
Our goal is to empower all people with the tools to take control of their financial future.
DeFi is expected to democratize financial services. Unfortunately, at this time, access to DeFi and digital assets in general remains fragmented, complicated, expensive and slow. For the unbanked or the millions of people living in emerging economies, or people who live in regions with restricted currencies, this is sometimes outright impossible.
At CryptoLocally, we absolutely believe that DeFi is a transformational technology. We also believe that it has the potential to disrupt the existing financial system by providing a viable way for the world’s unbanked citizens to gain access to financial services. The problem has been that there isn’t a simple and easy to use solution in decentralized finance, which has been a barrier to mass adoption of DeFi and financial inclusion.
Our new DeFi feature, the Finance Wallet, allows you to earn interest on your cryptocurrency and this feature has been seamlessly integrated with our trading platform. It presents the easiest way to enter the DeFi space and will make mass adoption and financial inclusion possible.
