Purchase CTC (CTC) with Euro (EUR) easily at Switchere and benefit from fast, secure transactions.
Creditcoin (CTC) is a foundational blockchain technology designed to address a critical gap in the global financial system: the lack of a universal, transparent credit history. Its primary objective is to create a decentralized network for a borderless credit market, specifically targeting the unbanked and underbanked populations. By recording loan performance on a public digital ledger, Creditcoin provides a mechanism for individuals and businesses to build a verifiable, on-chain credit history. This digital asset aims to bridge the divide between traditional finance and DeFi applications, fostering greater financial inclusion by making credit more accessible and transparent across the globe through its innovative Web3 infrastructure.
The core of the Creditcoin protocol involves linking real-world, off-chain loan agreements to its immutable blockchain. This process creates objective proof of creditworthiness that is not controlled by any single entity. The native utility token, CTC, is integral to the ecosystem's operation. It is used to pay for transaction fees required to record credit transactions, such as loan requests and repayments, on the chain. Furthermore, CTC can be utilized for staking to enhance the cryptographic security of the network. This unique approach to integrating real-world assets (RWA) in the form of private credit establishes a foundational layer for on-chain reputation and new financial products.
The most common method to buy Creditcoin (CTC) with Euros is through a centralized cryptocurrency exchange that lists the EUR/CTC trading pair. This process typically involves creating an account, completing KYC/AML compliance, and then using a SEPA transfer, which is often a low-cost fiat on-ramp for Eurozone residents. Alternatively, you can use a credit/debit card, although this may incur higher fees.
When converting EUR to CTC, you can expect several potential fees. First, there may be a deposit fee for your Euros, which varies by method (SEPA transfers are often free, while cards are not). Second, the cryptocurrency exchange will charge a trading fee (either a 'maker' or 'taker' fee) for executing the order. Finally, if you move your CTC to a private digital wallet, there will be a network withdrawal fee, which is determined by the exchange and covers the on-chain blockchain transaction cost.
Yes, for virtually all regulated cryptocurrency exchanges that offer a direct EUR fiat gateway, completing Know Your Customer (KYC) and Anti-Money Laundering (AML) verification is mandatory. This process typically involves submitting a government-issued ID and sometimes a proof of address to comply with financial regulations within the Eurozone and prevent illicit activities.
Creditcoin is a Layer-1 blockchain designed to create an objective credit history ledger. By purchasing CTC with EUR, users gain access to an ecosystem focused on financial inclusion. The protocol's primary utility is recording loan performance and other credit-related transactions from the real world onto its immutable blockchain, aiming to bridge real-world assets (RWA) and credit markets with DeFi for the underbanked.
For optimal security, it is highly recommended to move your Creditcoin (CTC) from the cryptocurrency exchange to a self-custody digital wallet after your purchase. For long-term holding, a hardware wallet (cold storage) offers the highest level of security as it keeps your private keys offline. For more frequent use, a dedicated software wallet for the Creditcoin network can be used, but always ensure you securely back up your seed phrase.
The EUR/CTC pair provides a direct fiat on-ramp for investors in the Eurozone, eliminating the need for currency conversions through USD or stablecoins. This direct access improves liquidity, can reduce transaction costs, and simplifies entry into the Creditcoin ecosystem, which is focused on tokenizing real-world assets (RWA) like credit loans. It allows European participants to directly engage with a blockchain aiming to build a global, verifiable credit history ledger.