As of today, a new player is emerging in the crypto-economy, providing the world with an easier way to buy cryptocurrency than ever before. Etcetera is a young start-up, planning to sell physical cryptocurrency wallets in stores around the world and crediting them with Bitcoin, Ethereum or their own token upon purchase.
“In order to make cryptocurrency mainstream, we need to drastically lower the entry-level into the crypto-economy, and our Etcetera Cards will do just that.” – founders Brasseur Pepijn and Brasseur Valentijn stated.
“We noticed that until today, a lot of people still struggle with setting up a wallet and making their first cryptocurrency purchase. We started thinking that maybe we could make this process easier, and we came up with the idea of selling physical wallets under the form of a gift card. People will be able to walk into a store, buy a card, and walk out holding Bitcoin, Ethereum, or other cryptocurrency.”
The Cards are physical cryptocurrency wallets, printed on a durable card, holding the visible public key on the back of the card, and the private key under a secure scratch-off layer. These cards have the same look and feel as traditional gift cards, and will be distributed and sold through the same existing channels, placing them amongst known and trusted gift cards like Google Play cards, Playstation Network cards, and others in stores across the world.
Whenever a card is sold, the company will register the purchase, and credit the wallet with the desired amount of cryptocurrency.
“The systems and distribution channels needed to sell those cards are already in place. All we need to do, is use that infrastructure to sell our cards.”
The potential reach of this project is not to be underestimated. According to a CEB study, the expected amount of gift card spending in 2018 in the United States alone will surpass 160 billion dollars.
Considering that the company aims to distribute their cards worldwide, they might just become the next big cryptocurrency broker, with a widespread network and reach, unlike any other. Their approach to reaching millions of potential customers is, for cryptocurrency, novel at the least.
The company is planning an ICO (Initial Coin Offering) to raise the funds needed to distribute their cards worldwide. These funds will mainly be used as reserves, which are needed to credit the cards with the desired cryptocurrency upon purchase.
Taking into consideration that Bitcoin exists for almost 10 years now, one can wonder how this approach until today has not yet been introduced.
One thing is certain, the market is ready for it, and if this company fulfils their promise, cryptocurrency soon can very well be the standard, instead of the exception it remains today.
Learn more about the company and the ICO here : https://etcetera.ltd
