I think they don't forget add 21.5% fee same as for bank depositor's to withdrawal at UANcard. After that "пoкpaщeння" your idea will die at pre-ico.
And if you hope to will see low for cryptocurrencies till the end at that week then your a very optimistic men.
That is exactly what the problem is here in Ukraine.
AlexaUA is correct but completely wrong at the same time.
The standard way of banking here is to take a percentage of all deposits and sometimes even on withdraws which is why nobody here puts money in a bank account.
This leads to two fundamental problems in the financial system here, a third I won't discuss now (more later) but the major problems do indeed exist are:
1. Banks have little cash on hand. The lack of trust in banks as a whole created the problem. Banks here have stolen peoples money in the past. In fact they operate on eight year cycle on doing so and we are about due for another one. As a result people lack Trust in the financial systems here and tend to put hard earned Ukrainian Hryvnia's under the mattress.
We solve this by providing a cryptocurrency that cannot be stolen unless the users computer is compromised by malware or the account information is revealed (phishing etc).
UAHPAY puts the Trust back into the financial system in Ukraine by implementing multiple cryptocurrency based holdings of account deposits. Fiat transactions are done by instant conversion which means even our partner bank has nothing to steal at any given time. This limits our exposure with our partnering bank. Funding operations are done daily based on previous day volume. This means if the partnering bank does go rogue on us the most we will loose is two days of operation capital and the third day wire can be recalled by our home base institution. We have secured insurance for two days operation loss which will be underwritten by one off the largest insurance companies in the UK.
Money saved in UAHPAY's platform is much safer than standard banks in Ukraine.
2. As a result of point #1, people simply do not deposit money or hold more than $20,000 in an account at any given time. This has resulted in the pricing or fee based banking structure that exists today. You give the bank money here and they take a percentage of each deposit.
Now AlexaaUA has overstated his point. 21% is not anywhere where it actually is.
Most fee's taken are capped at 1%-1.5%. But acknowledging his point this is still a completely ridiculous fee.UAHPAY has no deposit fee's on cash. We are fully aware of the "banking war" we are about to start here in this country. It's necessary and needs to happen in order for things to change. Change is not easy or fun, especially when you are upsetting the established order of banking and lending practices.
Banks are only successful when they obtain a specific amount of cash which is held on deposit. This can only be achieved when there is trust in the system. This in turn can be used to hand out loans, mortgages and other financial lending instruments.
The banks here have low deposit rates which lead to the predatory lending practices. For example, if one wants to get a mortgage here it's a pretty foolish move. Banks want 50-60% down on a property and charge 30-45% interest. Given the yo-yo value of the Ukrainian hryvnia (UAH) you would be crazy to get a loan from any bank.
Current exchange
1 US Dollar equals
26.18 Ukrainian Hryvnia
An apartment here costs about $100,000 USD.
Lets say you went out and were foolish to get a mortgage from a bank here.
The Ukrainian hryvnia suddenly rebounds to its former glory. Given whatever that rebound could be you may end up paying 26x your loan value which was crazy to begin with.The above example clearly illustrates exactly what the problem is. The people of Ukraine are stuck in a predatory lending environment which was brought on by greed, corruption and theft. Adding to that it's stuck right in the middle of a WW3 scenario where two world superpowers are playing chess on its borders.
Our banking partner has exempted us from this rule (we pay no deposit fees in or out) instead we pay a yearly license fee to them for use of the platform and card issuance. The platform use is dependent on API's and is completely automated. Having said that we have a secondary clearing option that can be used but again, we are waiting on specific political decisions to be made before we commit either way.
The current partnership operates on the Cirrus/Maestro/Interlink FX platform which is why it is so attractive.
This allows us to move money instantly to settle transactions in fiat. This will be carried out in both Ukraine and abroad in a much more stable financial institution.
Our goal is to have upwards of 500 Million USD in deposits which would be the minimum requirement for establishing EU bank licensing.
TRUST
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NEED = A VALUE BANK
It's time for change. There was a revolution a few years ago which started this exact project.
Its time for
BTC to start changing countries.
