Cardonio project developers offer multicurrency credit and debit cards, with which cryptocurrency owners can pay for products and services anywhere .
The scheme of using the credit limit is related to the number of CFGT tokens. The user buys the coins of the project, stores them on a personal account, withdraws cash at any ATM. The credit limit depends on the number of coins, the maximum rate is 85%. For example, a user stores 100 CFGT tokens on a personal account, according to the current exchange rate, the amount is equivalent to 500 dollars. With a credit limit of 85%, the platform member can withdraw and spend no more than $425. The term of repayment of a loan without interest (grace-period) is 90 days, unspent money (crypto coins or fiat assets) can be withdrawn at any time.
According to Whitepaper, the development team plans to issue four types of credit cards on which it will be possible to store Bitcoins, The balance of payments, history of operations and the amount of commission are reflected in the mobile application for Android and iOS, which allows you to convert 23 types of currencies and send payments to 120 countries.
Standard credit card. The credit card is provided to the owners of 500 CFGT tokens, the account is free of charge, transfers or cash withdrawals for up to $500 per month are not subject to charges, then the client pays 0.5% of the transaction amount. Bonus for customers - cashback in the amount of 0.25% of the amount of each purchase.
Frozen white. The plastic card is received by the owners of 2,500 CFGT tokens, keeping them on the balance for at least 30 days. Account maintenance is free, the size of the cashback is 0.5% of each purchase. The user can convert or cash up to 1000 dollars per month out free of charge.
Limited edition gold. The means of payment is available to owners of at least 10 thousand CFGT tokens stored on the balance for at least 90 days. The circulation of the card is 50 thousand copies, which will go to the first users. The monthly withdrawal and transfer limit is 2.5 thousand dollars, then each cashed amount is subject to a 1.5% commission. Customers receive a cashback of 1% on all purchases made.
Limited edition black. The credit card is available to the first thousand owners of 50 thousand CFGT tokens, storing them in the account for at least 180 days. The product provides unlimited transfers between owners without commissions, the monthly cash withdrawal limit is 20 thousand dollars. Customers receive cashback in the amount of 2% of the amount of each purchase.
Cardonio's crypto credit card task is to link ordinary users of credit products, crypto investors and retail networks into a single decentralized market. All types of credit cards from Cardonio use the Visa payment system, applications for smartphones and tablets allow you to convert, buy and sell "digital gold" without additional overpayments.
The developers are planning to “freeze” 100 thousand tokens as a reserve for future investments: if the project becomes popular, this amount of CFGT will be released for sale at auctions. Now frozen funds act as a guarantor of the solvency of the team and will allow obtaining a banking license in Asia and Europe.
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