Even though every cryptocurrency states that they offer a secure payments wallet, there is still room for other companies to come to the fore if they are able to offer something different. One of those companies that has indeed taken them up on this mantle is Denaro, and they are seeking at resolving that gap that tends to exist between these digital currencies and what is seen as being the more common marketplace.
With their website displaying sales of over $11 million with nearly 2 weeks left to go it looks like their solution is proving to be popular so far.
The Basics of Denaro.
Denaro has placed itself on the market as being a payment platform within cryptocurrencies with the hope being that more businesses will look at accepting cryptocurrencies as a means of payment when they know that there is nothing to be afraid of. Their aim is to provide both users and businesses with the ability to spend, store, trade, and also exchange various fiat currencies as well as digital currencies, and to do so in a simplified manner.
They also state that they are hoping to offer both online and offline payment options, but clearly their main focus will be via the Internet where they hope to become one of the main players in making crypto payments for a variety of products and services. However, for the offline purchases, users will be able to have a physical debit card linked directly to their online account in order to complete the purchase.
It might be best to think of this cryptocurrency as operating along the same lines as other, already well-established, payment options that do not currently deal with cryptocurrencies. Basically, Denaro plans on running along similar lines but incorporating cryptocurrencies as well as fiat currencies into the equation.
The Technical Aspect of Denaro.
The project is built on the Ethereum platform which does then provide you with a certain sense of stability and security when you are on their exchange or making full use of the services on offer via the blockchain. Also, the token is an ERC20 token, which always means you can use any Ethereum based wallet such as MyEtherWallet rather than downloading the version available via Denaro. However, they do try to push you into doing this for the sake of making those payments.
With any payment option, there is a certain sense of fear and concern regarding the security side of things, but the company has created a customized and secure SCI/API for merchant purchases. Also, their wallet and online platform allows for the user to hold a variety of cryptocurrencies at the one time.
Regarding the blockchain aspect, this operates the payment gateway with the requests from the wallet to either the debit card to complete the transaction or the online retailer. As is the norm, the transactions are fully transparent even though they cannot then be altered when they appear on the blockchain, as they’re using the Ethereum network each transaction will have a smart contract in place. In this respect, the technology is the same as elsewhere with the company just acting as a facilitator for both parties.
The Advantages of Denaro.
At first glance, there should be a number of advantages associated with Denaro. After all, a payment gateway that allows you to use multiple cryptocurrencies at the one time should be appealing to many. Also, being built on Ethereum should also make things easier for people in general rather than delving into something that is completely brand new and built on a platform that remains untested.
Being able to choose between both fiat currencies and cryptocurrencies is also important since it does mean that Denaro is going to be operating in both fields. Including a debit card that is linked to your digital wallet and account will make life easier and as it uses the blockchain it does eliminate the possibility of fraud happening on your account.
Aside from that, it might just be useful for there to be another alternative option when it comes to a payment gateway. Offering both online and offline options should allow the company to effectively spread their wings but it does remain to be seen as to how big an impact they will be able to have in what is an already difficult and complicated field and industry.
The Financial Aspect and the ICO.
When we start to check out the financial side of things for the ICO, then we see that this ERC20 token can be purchased using either ETH or USD. The company does state that they have a minimum investment amount of $10 and a total of 65% of all tokens will be made available during the ICO.
Also, they have announced that the exchange rate during this phase will be set at 1ETH = 3,000DNO. The company has stated that there will be 10,000,000 tokens available for purchase at this moment in time.
The Founders of the project.
The project has two Co Founders listed below, they also have a large team which can be viewed in their whitepaper:
Ron Ramsey, CEO: He has a long history of working in economics. He previously worked as an Economic Development Director at London Computer Systems. It says in their whitepaper that he’s been following the cryptocurrency market for a long time and recently felt that it was the ideal time for him and his partner to launch their project.
Jeremy Boker, CFO: He’s previously worked as a Project Manager, Head of IT and a Business Consultant. He and Ron are the sole founders of the Denaro concept.
Conclusion About Denaro and the ICO.
The main problem with Denaro is that there is often rather scant information when it comes to certain aspects of the business. The company appeared to launch quickly with the first mention of them being just a couple of months ago.
That is not to say that there is anything untoward, but the time-line for the project is significantly shorter than many of the competitors. Of course, it could just be that they have launched quickly due to their ICO picking up so much attention in a short space of time.
At least with the ICO they have not set the bar too high when it comes to the number of tokens that are available, and there is certainly enough interest in payment options for this to then be able to take hold in the market.
The team behind the project seems to have a fair amount of experience which is always one of the most important things when looking to invest in an ICO.
So far their token sale has been going well with over $10 million already raised and still quite a while left for them to sell more.
Check out further details on their website below: