[ANN] 🔥 CryptOcean - ecosystem, processing, exchange 🔥

[faulerwilli]

It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets

I like the sound of that, where did you see this information please?

I would love to have a plastic crypto card which I can use in normal shops

I found some information in their whitepaper on page 17 and they say as i quote "With crypto cards, you can pay for goods and services and receive cash in ATMs".

Does this mean if you are holding eth in the card your eth will automatically be converted to Fiat once you want to withdraw from any ATM.

Yes, that's how I would understand it. There are already some such ATMs. I'm curious what the fees Cryptocean will charge for converting to Fiat

Will there really be a need for fee other than the normal gas fee that is involved with erc20 platform?? And secondly, how do they plan to solve the confirmation challenge that usually take a little while?

That's a really good question. one can not expect from the users that they wait 10 minutes before the ATM or go in the meantime on a coffee. I'm really curious how this should be solved.

[em777]

It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets

When I read that part of the project, I just got elated and the thought of finally being able to withdraw crypto in cash through ATM was running through my head.  was a sweet feeling.

That possibility is really getting over my head. I want it to happen soonest, it really going to be very cool

[ibininja]

It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets

I like the sound of that, where did you see this information please?

I would love to have a plastic crypto card which I can use in normal shops

I found some information in their whitepaper on page 17 and they say as i quote "With crypto cards, you can pay for goods and services and receive cash in ATMs".

Does this mean if you are holding eth in the card your eth will automatically be converted to Fiat once you want to withdraw from any ATM.

Yes, that's how I would understand it. There are already some such ATMs. I'm curious what the fees Cryptocean will charge for converting to Fiat

Will there really be a need for fee other than the normal gas fee that is involved with erc20 platform?? And secondly, how do they plan to solve the confirmation challenge that usually take a little while?

That's a really good question. one can not expect from the users that they wait 10 minutes before the ATM or go in the meantime on a coffee. I'm really curious how this should be solved.

Interesting case but I think that could be solved; if they will be depositing to their platform they can keep the deposit records off chain and sync with the blockchain. So you would get it instantly. They will then push to the blockchain and await confirmations.

[Anilbg]

It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets

When I read that part of the project, I just got elated and the thought of finally being able to withdraw crypto in cash through ATM was running through my head.  was a sweet feeling.

If we could get cash out of the cryptos through ATM, that is the future and it is complicated to execute and progress it in a right manner. That's also challenge for Cryptocean.

If we can take cash out of ATM using crypto card, It will be awesome. This will make crypto currencies more popular. But this requires huge efforts.

[em777]

It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets

When I read that part of the project, I just got elated and the thought of finally being able to withdraw crypto in cash through ATM was running through my head.  was a sweet feeling.

If we could get cash out of the cryptos through ATM, that is the future and it is complicated to execute and progress it in a right manner. That's also challenge for Cryptocean.

If we can take cash out of ATM using crypto card, It will be awesome. This will make crypto currencies more popular. But this requires huge efforts.

Yeah very huge effort. Right now a lot of organisation are not seeing cryptocurrency as a means of exchange. If crytocean wants to achieve this they will have to address this

[Ace44]

It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets

Yeah, it's the first time i'm coming across it, if they successfully implement this it will surely make things easy for people especially those that aren't really conversant with Crypto trading, with the plastic crypto cards which is linked to your local bank account one can deposit and withdraw cash from your financial and crypto accounts in regular ATMs.

Yeah I think i have seen one carried out by a problem but unfortunately it was only used by the project president on demo, it never saw the light of the day, is cryptoOcean looking at doing a video of the plastic card when it is manufactured?

I think that is where they will have the advantage. If they focus on the cars and ATM it would really be something as of now there is a huge lack in such means where you can simply withdraw and deposit from an ATM. there is a huge gap between crypto and fiat.

This is the killer, making a nice connection between crypto and fiat from a cashpoint - that will be awesome I think it will come given amount of time once the market has stabilized a bit. When that will happen? I don't know.

I'm glad someone is seeing the bigger picture of what i've been talking about, when you talk about project that is offering something unique and beneficial, this is one of them, we've all wanted the people to embrace blockchain, well, this is one of such avenues that will propel that vision, all they have to do is stay focus and deliver what they promised

I think if this is properly executed you will be looking at a licensing business. They can license the technology and the brand of the cards and ATM to other places just like VISA for example.

You're right, that's like giving the entire brand a face lift because the blockchain industry been a controversy to many, needs things like these, things people can easily connect and relate with, i believe cryptocean has done their homework pretty well to be able to face and overcome the challenge of making this concept a reality

[ethtrader16]

It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets

When I read that part of the project, I just got elated and the thought of finally being able to withdraw crypto in cash through ATM was running through my head.  was a sweet feeling.

If we could get cash out of the cryptos through ATM, that is the future and it is complicated to execute and progress it in a right manner. That's also challenge for Cryptocean.

If we can take cash out of ATM using crypto card, It will be awesome. This will make crypto currencies more popular. But this requires huge efforts.

Yeah very huge effort. Right now a lot of organisation are not seeing cryptocurrency as a means of exchange. If crytocean wants to achieve this they will have to address this

It is really interesting but have some confusion. Where exactly we use that cards or where will be swap that card?

[jamzzz123]

It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets

When I read that part of the project, I just got elated and the thought of finally being able to withdraw crypto in cash through ATM was running through my head.  was a sweet feeling.

If we could get cash out of the cryptos through ATM, that is the future and it is complicated to execute and progress it in a right manner. That's also challenge for Cryptocean.

If we can take cash out of ATM using crypto card, It will be awesome. This will make crypto currencies more popular. But this requires huge efforts.

Yeah very huge effort. Right now a lot of organisation are not seeing cryptocurrency as a means of exchange. If crytocean wants to achieve this they will have to address this

It is really interesting but have some confusion. Where exactly we use that cards or where will be swap that card?

It is true, I'm not entirely sure what these plastic cards will be used for#? I hope paying for goods and services aswell as cash machine - but not sure how possible that is with FIAT exchange etc

[faulerwilli]

It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets

I like the sound of that, where did you see this information please?

I would love to have a plastic crypto card which I can use in normal shops

I found some information in their whitepaper on page 17 and they say as i quote "With crypto cards, you can pay for goods and services and receive cash in ATMs".

Does this mean if you are holding eth in the card your eth will automatically be converted to Fiat once you want to withdraw from any ATM.

Yes, that's how I would understand it. There are already some such ATMs. I'm curious what the fees Cryptocean will charge for converting to Fiat

Will there really be a need for fee other than the normal gas fee that is involved with erc20 platform?? And secondly, how do they plan to solve the confirmation challenge that usually take a little while?

That's a really good question. one can not expect from the users that they wait 10 minutes before the ATM or go in the meantime on a coffee. I'm really curious how this should be solved.

Interesting case but I think that could be solved; if they will be depositing to their platform they can keep the deposit records off chain and sync with the blockchain. So you would get it instantly. They will then push to the blockchain and await confirmations.

Thanks for the explanation, that sounds plausible
i figured there had to be a solution that worked that way, but i'm not the big blockchain profi yet. But i often learn something new here in the forum

[Ace44]

It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets

I like the sound of that, where did you see this information please?

I would love to have a plastic crypto card which I can use in normal shops

I found some information in their whitepaper on page 17 and they say as i quote "With crypto cards, you can pay for goods and services and receive cash in ATMs".

Does this mean if you are holding eth in the card your eth will automatically be converted to Fiat once you want to withdraw from any ATM.

Yes, that's how I would understand it. There are already some such ATMs. I'm curious what the fees Cryptocean will charge for converting to Fiat

Will there really be a need for fee other than the normal gas fee that is involved with erc20 platform?? And secondly, how do they plan to solve the confirmation challenge that usually take a little while?

That's a really good question. one can not expect from the users that they wait 10 minutes before the ATM or go in the meantime on a coffee. I'm really curious how this should be solved.

Interesting case but I think that could be solved; if they will be depositing to their platform they can keep the deposit records off chain and sync with the blockchain. So you would get it instantly. They will then push to the blockchain and await confirmations.

Thanks for the explanation, that sounds plausible
i figured there had to be a solution that worked that way, but i'm not the big blockchain profi yet. But i often learn something new here in the forum

Yea, that was helpful, wish the team can also give like a detailed insight about that aspect because a lot of people need clarification on that, is a bit complicated to assimilate but the concept behind it is nice, they also made mention of their transaction fee been lesser than most in market, this part has always been an issue in the cryptosphere and will love to see one offer something lesser

[NightDream]

https://www.facebook.com/Cryptocean1/photos/a.366234977216506.1073741828.366230247216979/380220832484587/?type=3&theater
Users’ crypto accounts are presented as a separate service that allows users to conveniently and easily manage a variety of cryptocurrency wallets. In addition, if necessary, the service will protect the user from illegal tracking of wallet addresses and transactions, introducing the concept of confidential proxy-wallets, according to which an attacker will not be able to track the address of the sender of funds.

Another useful option is the opportunity to analyze payments and transfers, as well as to group accounts and wallets of counteragents. This will make it easy and convenient to find wallets and payment details for the next payment, view the history of transactions by time and counteragent. In addition, the user will be able to view and analyze the statistics of operations in different sections.

The keys to the wallets can be stored either by the user or by the service. To carry out automatic operations, upon the request of the service the confirmation will be required. For the convenience of users, it is possible to separate wallets: into those which keys are stored by the user, and those that are controlled by the service using a multi-signature.

The user can generate additional access keys to the wallet and add the option of managing them by the CRYPTOCEAN service and at any time the user may recall them back. The service guarantees the removal of user keys from their databases. However, in the latter case, the responsibility for storing the keys is entirely user’s.

The service offers a key deposit service, then the key is stored in a special secure database, without connecting to the Internet, access to which is possible only within the framework of a multi-step key recovery procedure (this function is not provided for transactions, it is only for the maximum security and safety of funds of the client/heirs).

With the help of the service, multifactor identification and confirmation of operations are configured - by entering the code received via an SMS, a mobile application or biometrics (fingerprint). The level of identification can be tuned for individual wallets or their groups depending on the established limits for the operations being conducted.

In the service it is possible to specify cryptocurrencies and wallets from which the funds will be debited in the automatic conversion to the fiat, the priority of keeping the cryptocurrency, the conversion strategy (for example, at first spend one, then another, or gradually write off from different ones).

[Darkoth89]

With the cards being made of plastic, have you thought about using recycled plastics?

Nice question ! It would be nice if they did that so that they can show us that they are indeed on the next level. Suggest it on their Telegram channel !

Yeah, I think in this day and age and if they want to send the right message this would be a great step.

[ethtrader16]

https://www.facebook.com/Cryptocean1/photos/a.366234977216506.1073741828.366230247216979/380220832484587/?type=3&theater
Users’ crypto accounts are presented as a separate service that allows users to conveniently and easily manage a variety of cryptocurrency wallets. In addition, if necessary, the service will protect the user from illegal tracking of wallet addresses and transactions, introducing the concept of confidential proxy-wallets, according to which an attacker will not be able to track the address of the sender of funds.

Another useful option is the opportunity to analyze payments and transfers, as well as to group accounts and wallets of counteragents. This will make it easy and convenient to find wallets and payment details for the next payment, view the history of transactions by time and counteragent. In addition, the user will be able to view and analyze the statistics of operations in different sections.

The keys to the wallets can be stored either by the user or by the service. To carry out automatic operations, upon the request of the service the confirmation will be required. For the convenience of users, it is possible to separate wallets: into those which keys are stored by the user, and those that are controlled by the service using a multi-signature.

The user can generate additional access keys to the wallet and add the option of managing them by the CRYPTOCEAN service and at any time the user may recall them back. The service guarantees the removal of user keys from their databases. However, in the latter case, the responsibility for storing the keys is entirely user’s.

The service offers a key deposit service, then the key is stored in a special secure database, without connecting to the Internet, access to which is possible only within the framework of a multi-step key recovery procedure (this function is not provided for transactions, it is only for the maximum security and safety of funds of the client/heirs).

With the help of the service, multifactor identification and confirmation of operations are configured - by entering the code received via an SMS, a mobile application or biometrics (fingerprint). The level of identification can be tuned for individual wallets or their groups depending on the established limits for the operations being conducted.

In the service it is possible to specify cryptocurrencies and wallets from which the funds will be debited in the automatic conversion to the fiat, the priority of keeping the cryptocurrency, the conversion strategy (for example, at first spend one, then another, or gradually write off from different ones).

Really great and useful short intro about Cryptocean. But want to know more about this "if necessary, the service will protect the user from illegal tracking of wallet addresses and transactions". I mean how they will protect wallet?

[gee777]

It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets

I like the sound of that, where did you see this information please?

I would love to have a plastic crypto card which I can use in normal shops

I found some information in their whitepaper on page 17 and they say as i quote "With crypto cards, you can pay for goods and services and receive cash in ATMs".

Does this mean if you are holding eth in the card your eth will automatically be converted to Fiat once you want to withdraw from any ATM.

Yes, that's how I would understand it. There are already some such ATMs. I'm curious what the fees Cryptocean will charge for converting to Fiat

Will there really be a need for fee other than the normal gas fee that is involved with erc20 platform?? And secondly, how do they plan to solve the confirmation challenge that usually take a little while?

That's a really good question. one can not expect from the users that they wait 10 minutes before the ATM or go in the meantime on a coffee. I'm really curious how this should be solved.

Yeah.. This will be a tough one especially when the eth network is clogged. Maybe they might use the highest gas price to ensure to much time isn't wasted.

[Nathan01]

It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets

Yeah, it's the first time i'm coming across it, if they successfully implement this it will surely make things easy for people especially those that aren't really conversant with Crypto trading, with the plastic crypto cards which is linked to your local bank account one can deposit and withdraw cash from your financial and crypto accounts in regular ATMs.

Yeah I think i have seen one carried out by a problem but unfortunately it was only used by the project president on demo, it never saw the light of the day, is cryptoOcean looking at doing a video of the plastic card when it is manufactured?

I think that is where they will have the advantage. If they focus on the cars and ATM it would really be something as of now there is a huge lack in such means where you can simply withdraw and deposit from an ATM. there is a huge gap between crypto and fiat.

This is the killer, making a nice connection between crypto and fiat from a cashpoint - that will be awesome I think it will come given amount of time once the market has stabilized a bit. When that will happen? I don't know.

I'm glad someone is seeing the bigger picture of what i've been talking about, when you talk about project that is offering something unique and beneficial, this is one of them, we've all wanted the people to embrace blockchain, well, this is one of such avenues that will propel that vision, all they have to do is stay focus and deliver what they promised

If I understood correctly, CryptoOcean is planning plastic card for crypto similar to what we have for Fiat currencies? This means CryptoOcean will act as gateway (like Visa) or only as a bank?

I believe so, the card can be used for all purpose, like a universal card for buying and selling, as stated on their whitepaper, so it will be like a gateway to purchase any cryptocurrency and get your conventional or fiat currency which can be transferred to your local bank account, the blockchain industry is trying to break that norm that they are just a virtual process but with upcoming projects like this, they are becoming more of a physical thing, which is lovely

This is actually a daring concept and tasking as well, what this does is that it will place blockchain in the map for good in the world as having real life applications and physical resources as well

[ibininja]

It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets

Yeah, it's the first time i'm coming across it, if they successfully implement this it will surely make things easy for people especially those that aren't really conversant with Crypto trading, with the plastic crypto cards which is linked to your local bank account one can deposit and withdraw cash from your financial and crypto accounts in regular ATMs.

Yeah I think i have seen one carried out by a problem but unfortunately it was only used by the project president on demo, it never saw the light of the day, is cryptoOcean looking at doing a video of the plastic card when it is manufactured?

I think that is where they will have the advantage. If they focus on the cars and ATM it would really be something as of now there is a huge lack in such means where you can simply withdraw and deposit from an ATM. there is a huge gap between crypto and fiat.

This is the killer, making a nice connection between crypto and fiat from a cashpoint - that will be awesome I think it will come given amount of time once the market has stabilized a bit. When that will happen? I don't know.

I'm glad someone is seeing the bigger picture of what i've been talking about, when you talk about project that is offering something unique and beneficial, this is one of them, we've all wanted the people to embrace blockchain, well, this is one of such avenues that will propel that vision, all they have to do is stay focus and deliver what they promised

If I understood correctly, CryptoOcean is planning plastic card for crypto similar to what we have for Fiat currencies? This means CryptoOcean will act as gateway (like Visa) or only as a bank?

I believe so, the card can be used for all purpose, like a universal card for buying and selling, as stated on their whitepaper, so it will be like a gateway to purchase any cryptocurrency and get your conventional or fiat currency which can be transferred to your local bank account, the blockchain industry is trying to break that norm that they are just a virtual process but with upcoming projects like this, they are becoming more of a physical thing, which is lovely

This is actually a daring concept and tasking as well, what this does is that it will place blockchain in the map for good in the world as having real life applications and physical resources as well

I think this would make banks panic some lol. I genuinely think if they executed the ATM and Cards properly they would be the go to for different regions. Add the exchange on top they will be able to fuel various services that deal with fiat.

[springwind]

Does this mean if you are holding eth in the card your eth will automatically be converted to Fiat once you want to withdraw from any ATM.

Yes, that's how I would understand it. There are already some such ATMs. I'm curious what the fees Cryptocean will charge for converting to Fiat

Will there really be a need for fee other than the normal gas fee that is involved with erc20 platform?? And secondly, how do they plan to solve the confirmation challenge that usually take a little while?

Typically, fees from 2% to 5% of the transaction amount - depending on the greed of the project. This is a lot, so many do not want to convert cryptocurrencies into fiat money. The most profitable way is to buy directly through cryptocurrencies.

[rathaha10]

What does a light cap mean ? I never saw that in any Icos. Can they still move further with the project, if it hits only the light cap ?

[gee777]

It is definitely interesting the way you want to integrate plastic crypto cards. It is not something that you usually see in these type of markets

Yeah, it's the first time i'm coming across it, if they successfully implement this it will surely make things easy for people especially those that aren't really conversant with Crypto trading, with the plastic crypto cards which is linked to your local bank account one can deposit and withdraw cash from your financial and crypto accounts in regular ATMs.

Yeah I think i have seen one carried out by a problem but unfortunately it was only used by the project president on demo, it never saw the light of the day, is cryptoOcean looking at doing a video of the plastic card when it is manufactured?

I think that is where they will have the advantage. If they focus on the cars and ATM it would really be something as of now there is a huge lack in such means where you can simply withdraw and deposit from an ATM. there is a huge gap between crypto and fiat.

This is the killer, making a nice connection between crypto and fiat from a cashpoint - that will be awesome I think it will come given amount of time once the market has stabilized a bit. When that will happen? I don't know.

I'm glad someone is seeing the bigger picture of what i've been talking about, when you talk about project that is offering something unique and beneficial, this is one of them, we've all wanted the people to embrace blockchain, well, this is one of such avenues that will propel that vision, all they have to do is stay focus and deliver what they promised

If I understood correctly, CryptoOcean is planning plastic card for crypto similar to what we have for Fiat currencies? This means CryptoOcean will act as gateway (like Visa) or only as a bank?

I believe so, the card can be used for all purpose, like a universal card for buying and selling, as stated on their whitepaper, so it will be like a gateway to purchase any cryptocurrency and get your conventional or fiat currency which can be transferred to your local bank account, the blockchain industry is trying to break that norm that they are just a virtual process but with upcoming projects like this, they are becoming more of a physical thing, which is lovely

This is actually a daring concept and tasking as well, what this does is that it will place blockchain in the map for good in the world as having real life applications and physical resources as well

I think this would make banks panic some lol. I genuinely think if they executed the ATM and Cards properly they would be the go to for different regions. Add the exchange on top they will be able to fuel various services that deal with fiat.

I agree. Cryptocean might even come under attack from all this banks because they might be taking one of the ways banks generate their funds and other financial institutions.

[faulerwilli]

Does this mean if you are holding eth in the card your eth will automatically be converted to Fiat once you want to withdraw from any ATM.

Yes, that's how I would understand it. There are already some such ATMs. I'm curious what the fees Cryptocean will charge for converting to Fiat

Will there really be a need for fee other than the normal gas fee that is involved with erc20 platform?? And secondly, how do they plan to solve the confirmation challenge that usually take a little while?

Typically, fees from 2% to 5% of the transaction amount - depending on the greed of the project. This is a lot, so many do not want to convert cryptocurrencies into fiat money. The most profitable way is to buy directly through cryptocurrencies.

If you can switch to the ATM anonymous cryptocurrencies in fiat, then 5% are still ok. After all, you can get paid out so your profits without the tax office notices something :-)