Purchase CTC (CTC) with Polish Zloty (PLN) 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.
To buy Creditcoin (CTC) with PLN, you typically use a cryptocurrency exchange that offers a PLN/CTC trading pair or a PLN fiat on-ramp. The most common payment methods include direct bank transfers using the Elixir system, instant payments via BLIK, or debit/credit card purchases. Using a local payment method like BLIK can often result in lower processing fees compared to international card transactions.
Yes, any regulated cryptocurrency exchange facilitating PLN transactions is subject to Polish and EU anti-money laundering laws. This requires mandatory Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. Users must typically provide government-issued identification and sometimes proof of address or source of funds before they can deposit PLN and execute a digital asset purchase.
For optimal security, it is highly recommended to move your CTC from the exchange to a self-custody digital wallet where you control the private keys. Options range from software wallets (desktop or mobile) to hardware wallets, which offer the highest level of security by keeping your private keys offline. Leaving assets on an exchange exposes you to platform-specific risks, whereas a private wallet gives you full sovereignty over your real-world asset backed tokens.
Creditcoin's primary utility is to create a verifiable credit history on its public blockchain. In the RWA sector, it acts as a crucial infrastructure layer by recording off-chain credit transactions, such as loans, onto the blockchain. This process tokenizes real-world credit agreements, making them transparent, immutable, and accessible to DeFi protocols, thereby bridging the gap between traditional finance and decentralized systems.
When converting PLN to CTC, several fees can apply. First, there's a deposit fee for adding PLN to the exchange, which varies by method (BLIK or Elixir transfers are often cheaper than cards). Second, the exchange charges a trading fee (either a 'maker' or 'taker' fee) for executing the buy order on the PLN/CTC order book. Finally, when you move your CTC to a private digital wallet, you'll pay a network withdrawal fee, which is determined by the Creditcoin blockchain's activity.
A direct PLN/CTC pair provides a crucial fiat on-ramp for Polish users, allowing them to enter the Creditcoin ecosystem without intermediate currency conversions (e.g., PLN to EUR/USD first). This simplifies the process, reduces potential conversion fees, and minimizes exposure to foreign exchange rate volatility. It offers direct access from a local currency to a key project in the Real-World Asset (RWA) tokenization space, which is a growing narrative in blockchain technology.