What Is Centra?Centra, is a cryptocurrency wallet that is directly linked to a debit card. You are able to use the debit card worldwide, meaning you can spend your cryptocurrencies wherever cards are accepted. In July, the company raised $5 million in its pre-ICO. They officially support 100+ countries and are currently partnered with Visa, Mastercard and a number of banks worldwide. In addition to its wallet and debit card, they plan on launching a platform called “Coin Bay. Centra describes it as “the world’s first Amazon style superstore that is designed to be cryptocurrency acceptable.”
But how does it work?Centra, is the world’s first multi-blockchain debit card that’s connected to a smart wallet. The developers of this technology strongly emphasize all the features you would expect including security and safety but most importantly, Centra is insured. The platform currently supports the 8 most popular cryptocurrencies, including, bitcoin, ethereun, Litecoin, Ripple, ERC20, Dash, ZCash and Monero. Their goal is to continue adding other currencies in the future. After downloading the wallet, you are able to use your Centra Card to make purchases with your blockchain assets in real-time around the world. With 0% fees, users can transfer, exchange, spend and receive money through their wallet. Also, within the next month, Centra is launching an online super-store called Coin Bay. They have designed it to be similar to Amazon but will accept all cryptocurrencies as a payment method. The marketplace will feature around 100,000 items, with more to come as it grows. The items available to buy on the Coin Bay platform include household goods, clothing, electronics and more. Vendors are able to list their products for sale on the marketplace.
Centra Smart WalletOne half of Centra’s technology is the Smart Wallet. The wallet app makes it easy for people to register for the Centra Debit Card, or the Centra Card. You call store all of your cryptocurrency assets in this wallet. The wallet is currently available on the IOS App Store and the Google Play store. The app is similar to your standard banking app but has the function of turning your card on and off, without the hassle of having to contact a bank. You have the ability to spend money in 5+ cryptocurrencies to 100+ countries with no fees. The convenience of the Wallet is that there is no interbank exchange rate fluctuations and excessive fees. All funds stored in the Centra Wallet are insured from thefts and hackers, protected, and secure.
The Centra CardsThe Centra Card is a debit card available all around the world. Initially, Centra only had two cards available but has expanded to five different card options. Each card option has a one-time ETH contribution fee, the higher the contribution the more features and benefits you receive. The contributions are as follows: the wallet has a 0.2+ Contribution, Centra Blue is 5 ETH, Centra Gold 30 ETH, Centra Gold Metal 40 ETH, Centra Black Metal Founders Card 100 ETH and Centra Titanium Metal Founders Card 500 ETH.
PricingHere are the fees for the standard Centra BLUE Card:
- Physical Card One Time Fee: 5+ ETH Contribution
- Virtual Card Issuing Fee: <5 ETH Contribution
- Virtual Card Annual Fee: Free
- Foreign Exchange Fee: Free
- Foreign Exchange Fee: 0%
- ATM Fee: $2.50
- Spending Limit: $5,000 per day
- ATM Withdrawal Limit: $1,000 per day
- Token Rewards Percentage: 0.80%
- Holder Transaction Fees: Free