Summary: CryptoMe is Venmo for cryptocurrency. For a long time, cryptocurrency has been considered a shady exchange of money between large complex addresses. Why does it have to be that way? Nowadays, millions of people are getting into crypto and ease-of-use/social payments will become more and more valuable. CryptoMe attempts to personalize transactions, allowing users to send and receive cryptocurrency with each other and write a description for their transaction. Think Trust Wallet meets Venmo. CryptoMe wants to make cryptocurrency payments P2P, P2B, and B2B as easy as possible by extracting away every point of failure, like large cryptocurrency addresses users must input, and letting the backend (our side) handle it. What's the difference? The difference between CryptoMe and cryptocurrency exchanges like FTX, Kraken, and Coinbase is that CryptoMe gives you access to your own wallet whereas those companies just put your money into their system, kind of like a bank (not a wallet). An example of this is the FTX exchange, which stole billions of dollars in crypto from it's users. Now imagine that happening to your money in Coinbase or Crypto.com (not likely but you're giving them your money to store it and use it). This is counterintuitive to the whole idea of cryptocurrency, which is decentralization as these exchanges are completely centralized. They say you have a wallet but they don't give you the secret key for your wallet, meaning you can't import that address to other sites or use that wallet without their application. You totally rely on their application to keep your money safe and to buy/sell/transfer money. CryptoMe allows you to leave our platform by deleting your wallet and importing it elsewhere, such as Gatehub. We're so sure you're going to like the user experience of CryptoMe that we allow you to leave and come back to the platform whenever you want. Venmo and Cashapp use a similar centralized structure as these exchanges. The money you have in Venmo or Cashapp is just a number stored in a database, which could be changed by malicious actors who could also just delete your account. If anything like this happens to CryptoMe and you still have your secret key, you could just reimport your wallet onto another platform such as Gatehub. We're so sure you're going to like CryptoMe that we give you the option to leave whenever you want. In CryptoMe, you have your money right away, verified by millions of servers worldwide and the blockchain. On top of everything, Venmo is only usable in the USA whereas CryptoMe is global. Finally, hackers specifically target these large exchanges more than personal wallets, making your money much less secure. Robbers target banks much more than they target personal safes. CryptoMe puts the money in your own hands and gives you a secret key that is stored encrypted on your device and not with us. Mode of transfer: Currently the mode of transfer between users is XRP. XRP has one of the fastest transfer rates among all types of cryptocurrency. Transfers happen in a matter of seconds. No need to wait for bank clearances and slow processes, such as in Venmo. In the future, the app will allow other crypto transfers including Bitcoin, Ethereum, etc. However, our app will probably be used more for people who want to send XRP, XLM, Dogecoin, Shib, or even Algorand to each other since the mode of transfer happens in seconds and the price of the underlying asset will not change in those few seconds, whereas Bitcoin and Ethereum take minutes to transfer and their price can change in transit. Imagine paying your friend $10 in Bitcoin and while you wait for the transfer, Bitcoin loses 30% in value, meaning you only sent your friend $7. This is unacceptable and is a problem that can be solved using the aformentioned and fast assets like XRP or Doge. No collection of your Private Data: CryptoMe does not collect private data, such as your driver's license or any identifying data because all transfers are with non-FIAT currency. Conversions: Convert between 200+ types of cryptocurrency, including Bitcoin, Ethereum, Litecoin, etc. into Ripple to store money into your CryptoMe wallet or withdraw Ripple as any of these cryptocurrencies using the Changelly Api. Say 40,000 XRP is equal to a Bitcoin at a particular period of time. All the sending user would have to do is type in a destination Bitcoin address and press the send button. The entire path for that XRP to turn into BTC in its destination address is taken care of by Changelly and our backend. In the same way, in order to deposit Bitcoin as XRP within the app, a user would just need to enter a return bitcoin address (to be safe in case the Changelly transaction fails) and the entire calculation for how that Bitcoin is deposited into XRP is calculated by the backend and the Changelly API. Once Changelly gives a bitcoin address to deposit to, the user just sends to that bitcoin address and would receive 40,000 XRP (considering 1 BTC is 40000 XRP at that time) in their CryptoMe Wallet. This takes away so many pain pressures such as selling XRP to get USDT and then using USDT to buy Bitcoin. This conversion from CryptoMe can occur by just inputting a bitcoin address and knowing the exchange rate (calculated by Changelly) between bitcoin and XRP for a particular time and nothing else. Once the app launches dogecoin or ALGO for transfers between users, an ALGO to DOGE transfer could happen just with a button click. This is a blockchain agnostic and extremely easy to use way to convert cryptocurrencies without the idea of slippage, impermanent loss, etc. that comes with DEX’s these days. Usage as a simple Ripple Wallet: You can also send to other ripple addresses or receive from ripple addresses if the person you're sending or receiving from is not on the CryptoMe platform, just like in any other wallet app. To increase user retention, instead of making these kinds of transfers, users will have to pay less in fees if the person they're trying to send money to is a part of the CryptoMe platform, so convince that person you're sending to to just be a part of the CryptoMe platform to avoid higher fees. Security: The only thing you must keep secure is your secret key, which is used to make transactions. Your encrypted key to make payments is with you on your phone and not with CryptoMe. Sites such as Kraken can get hacked and you can lose all your money or those companies can shut down/run away with all your money. With CryptoMe, your full wallet ownership means you can import or export your wallet into any application (e.g. into Gatehub), only you have your secret key, and only you can send money with that wallet. A person would literally need access to your phone, CryptoMe DB, and your CryptoMe password (basically impossible) to decrypt the encrypted secret key on your phone. If they don't have access to your phone and somehow get your password and log in as you on CryptoMe on their phone, they still couldn't use your money because the encrypted secret key isn't on their phone. Any payment they try to make with your account they hacked into on their device would fail because they don't have the encrypted secret key stored on their phone. The Pitch: This will be Venmo, Cashapp, and Credit Karma of crypto with 2 second transaction finality (with XRP) and no fees depositing or sending cryptocurrency to other users, increasing user creation and retention. P2P, P2B, B2B payment transactions are all possible within the app. It uses the Changelly API for access to more than 200 different coins, and the access is blockchain agnostic so no need to plug in Metamask or WalletConnect at all or change blockchain networks. Social credit scores between users will be stored on blockchain and are all visible, allowing borrowing and lending (with interest) of cryptocurrency without collateral and the removal of the idea that a credit score inquiry reduces your credit, which is insane and we can’t do anything about it because that’s just FICO. Just imagine the number of students who did badly a few years in college, messed up their credit, and can’t take a loan to go back to college. This could become a second chance for them. Right now, XRP is the main crypto for sending between users because it's fast and it's value doesn't change in a transit of 2 seconds. Dogecoin and other fast, low fee assets will be added to allow users to send to each other or to businesses who have signed up with the app with low to no fees. Low fee and fast assets will take over payments for goods and services. Some users won’t care about fees or a long time taken for transactions, so sending Ethereum and Bitcoin to each other will also be possible, but in my opinion people will want low-fee/fast assets for sending and receiving to know that they got their money in seconds rather than wait 7 or more minutes to send bitcoin to each other where the price of bitcoin can change in transit. CryptoMe is the solution to the FTX and currency exchange debacle. Your funds belong with you, they're in your wallet, you have your own secret key to make payments, and none of that is with us, instead it's with you and your smart phone. We use state of the art AES military-grade encryption and sharded keys to decrypt the secret key that's stored encrypted on your phone, and if you wanted to leave our platform, you just unlink your wallet and import it elsewhere, for example Gatehub, a non-social XRP wallet. Just store and remember your secret key (especially if you lose your phone) and you can import your wallet to any platform that allows it. Cryptocurrency conversions have been made so easy that the average consumer would know exactly how to exchange cryptocurrencies or make swaps without any slippage or impermanent loss. Say 40,000 XRP is 1 BTC and you have 40k XRP in your CryptoMe XRP wallet. All you have to do for the XRP to convert to Bitcoin and send to the destination address is to just input the destination address. Everything in the middle, the path the money takes to convert to Bitcoin is not your concern, but rather the concern of the backend of our application. To deposit from 200+ coins into XRP, the user has the option to enter a return address in case the conversion fails. After that, everything is calculated on the backend and you just send money to the Changelly BTC address given, and Changelly will change it to XRP for you without you having to worry about anything in the middle, for example inputting your XRP address to deposit to, which becomes unnecessary because the backend knows the XRP address to deposit to as it is associated with the user. You can see your conversion orders to make exchanges and the status of your order as well (the XRP to BTC thing). Everything required to make a ticket with Changelly is calculated and given to you by the orders page, which completely outsources customer service. We don’t have to worry about customer service as we grow because I’ve already made a way to delegate that to Changelly. Cryptocurrency swaps on CryptoMe are blockchain agnostic. For example, to trade Ethereum for any other ETH-based token, you must be on Ethereum network in Metamask and pay Ethereum gas fees, say in Uniswap. Another example is Pancakeswap. You can only trade BEP20 tokens by changing the blockchain network to Binance network. In CryptoMe, you can swap tokens across blockchains without worrying about gas fees, being on the right blockchain network, or even having to use Metamask at all. Competitors Robinhood is trying to do what CryptoMe does (they have far fewer cryptos than us) but it’s a completely centralized app that sells your data to Citadel hedge fund and sells your stocks without your permission (GameStop days). A decentralized wallet within a centralized app won’t work. The reason they claim 0 fees is because they’re holding your money. CryptoMe does not hold your money or have access to it at all. It’s a completely decentralized application. This is why you can export your wallet to any other app that supports it. We are not custodians of your money. You are. Ask Robinhood if you can export your wallet to another site and they’ll become completely dumbfounded. I haven’t even looked at the crypto wallets on Robinhood and, just knowing them, I bet they still hold your money like a bank. Cashapp is doing bitcoin transfers between users (cashtags), but as I said above, the value of bitcoin can change in its slow transit. It also holds on to your money as a cash app balance in a database. That database can be tampered with and you could lose all your money by just 1 malicious actor, maybe even someone who got fired from Square and has created a backdoor or a way to change people’s balances. This could never happen with Blockchain as the transaction and your balance is stored on multiple ledgers on multiple computers throughout the world. It’s not owned by any company, like Cashapp. Venmo has the same problem as Cashapp. They hold your money and it takes days to transfer it to your bank account. In CryptoMe, you receive your money in 2 seconds and it is validated by a universal XRP ledger that is worldwide (cannot be tampered with). It’s ready to be used after just 2 seconds and is not owned by any 1 company. FTX should have shown everyone how dangerous it is to have a bank or exchange hold on to your money. It’s their money at that point and not yours. All you can do is beg for it back and that will never happen. The future of CryptoMe: Having your own Bitcoin, Ethereum, Litecoin, DOGE, SHIB, ALGO, XLM, etc. wallet Sending Bitcoin, Ethereum, Litecoin to your friends Send to your friends using their phone number Conversion of FIAT currency like dollars into cryptocurrency Login through facebook and social login Lending to friends without collateral and the creation of social credit scores on blockchain. DEX DAO CryptoMe's very own cryptocurrency Metaverse Turning the backend into an API businesses can use to send each other crypto easily Onboarding businesses onto CryptoMe to allow payments for services. Investment and release to iOS store and Google Play store. Copyright notice: © 2020 CryptoMe Inc.