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Saudi riyal (SAR) to CTC (CTC) Instantly

Purchase CTC (CTC) with Saudi riyal (SAR) easily at Switchere and benefit from fast, secure transactions.

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About
CTC (CTC)

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.

CTC (CTC)

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How to Buy CTC (CTC)

  1. Select currency menu

    Choose SAR to CTC Pair

    Select your preferred payment method and enter the amount.

  2. Crypto address page

    Enter Your CTC Wallet Address

    Provide your CTC wallet address and proceed with the payment.

  3. Confirmation page

    Receive Your CTC

    Complete the payment, and your CTC will be sent to your wallet.

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Frequently Asked Questions

  • What is the primary method for purchasing Creditcoin (CTC) with Saudi Riyal (SAR)?

    The primary method to buy Creditcoin (CTC) with Saudi Riyal (SAR) is via a cryptocurrency exchange that offers a direct SAR/CTC trading pair or a SAR fiat on-ramp. This process involves creating an account, completing KYC/AML verification as per SAMA regulations, and depositing SAR using a local bank transfer or debit card. Once funded, you can place an order to purchase CTC, a digital asset designed to record on-chain credit history for real-world assets (RWA).

  • Are there specific compliance requirements for trading SAR to CTC?

    Yes, any cryptocurrency exchange facilitating SAR to CTC transactions must adhere to strict KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations set by the Saudi Central Bank (SAMA). Users are required to verify their identity by providing official documents. This ensures a secure trading environment and prevents illicit activities, making the fiat on-ramp process compliant with local financial laws.

  • How can I securely store my Creditcoin (CTC) after buying with SAR?

    For optimal security, it is highly recommended to move your Creditcoin (CTC) from the cryptocurrency exchange to a non-custodial digital wallet after your purchase. This gives you sole control over your private keys. For larger investments, a hardware wallet (cold storage) offers the highest level of protection against online threats. Always enable two-factor authentication (2FA) on your exchange account and be wary of phishing attempts to safeguard your digital assets.

  • What are the technical advantages of using the Creditcoin network when investing from Saudi Arabia?

    Investing in CTC from Saudi Arabia provides access to Creditcoin's unique technical proposition: creating an immutable, public ledger for credit history. This Proof-of-Work blockchain integrates with fintech platforms like Gluwa, enabling the recording of credit transactions as on-chain data. This mechanism promotes transparency and aims to build a borderless credit investment market, offering a novel approach to decentralized finance (DeFi) focused on tangible, real-world credit performance.

  • What types of fees should I expect when converting SAR to CTC?

    When converting Saudi Riyal to Creditcoin, anticipate several potential fees. These include a deposit fee for funding your exchange account with SAR, a trading fee (usually a small percentage of the transaction's value on the order book), and a withdrawal fee for transferring your CTC to a secure digital wallet. Finally, a network transaction fee, intrinsic to the Creditcoin blockchain, is required to process and confirm the transfer on its public ledger.

  • What is the significance of the SAR/CTC pair for the local fintech and RWA sectors?

    The SAR/CTC pair acts as a crucial bridge between the traditional Saudi Arabian financial market and the innovative world of decentralized credit. It provides direct liquidity for local investors to participate in the Creditcoin network, a blockchain focused on tokenizing and recording Real-World Assets (RWA) like credit history. This link fosters growth in the local fintech ecosystem by introducing a transparent, blockchain-based infrastructure for credit verification and investment.

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