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November 16, 2020
At the beginning of this year I wrote about the nice monthly rewards that you get as a CPAY token holder. Less than a year later, these rewards have almost doubled.
If you have never heard of Cryptopay, you should read the article from February first: Crypto token CPAY massively undervalued.
In the current article I'll just give an update. It is important to know that every month, CPAY pays out 10% of its turnover to the token holders.
In February, it was announced that Cryptopay's flagship product, the crypto prepaid credit cards, would soon be relaunched. Unfortunately, a number of things happened again that delayed the launch of the cards. Firstly, there was of course the corona crisis, but secondly, the downfall of issuing partner Wirecard also caused headaches. The credit cards were therefore only launched in the UK in June and the rest of Europe followed in August.
Another setback was the discontinuation of the Russian credit cards less than 2 years after its launch. But despite these delays and difficulties, Cryptopay's turnover continued to recover and monthly rewards soared. People continue to use the website to buy or sell crypto coins and the 'crypto winter' is clearly over. The B2B branch also continues to grow. Websites that want to give customers the option to pay in bitcoin use Cryptopay for the processing of these payments.
Below you can see the turnover per month and the rewards paid out in 2020.
The chart below shows that the record turnover of January 2018 has now been achieved again.
At the time of writing you pay about 4.95 euros for 100 CPAY tokens. If we assume that CPAY continues to pay out at least 0.08 euros per 100 tokens per month, this would be an annual payment of 0.96 euros, or an annualized 'rewards' return of no less than 19.39%.
Recall from the previous piece that the token is in fact some sort of bond. The money raised with the ICO in 2017 is repaid by paying 10% of the revenue to the token holders every month. At the ICO, about 15.5 million euros was raised. Around 1,109,000 euro has already been repaid. This means that about € 14,391,000 still have to be repaid. There are 90,414,745 CPAY, so each token will receive about € 0.159.
The past months have shown again that we have no reason to doubt Cryptopay's ability to meet its refund obligation. So you can buy 100 tokens for € 4.95, while you can expect that these tokens will earn you no less than € 15.9 due to the payment of the monthly rewards.
Furthermore, there is little news to report. A few minor features have been added to the Cryptopay website, but a detailed roadmap update is still not published. For example, we do not know more about the development of the promised bitcoin stock brokerage. Furthermore, there is a lot of demand from the community to list the CPAY token on an exchange other than HitBTC. Another idea is to make token trading available on the Cryptopay website or to add utility functions, so that by owning tokens you could, for example, get discounts on the Cryptopay services.
At Cryptopay themselves, they declare that the focus is mainly on the development of their platform and prepaid credit cards. This should further increase the rewards for current token holders. And so CPAY remains a hidden gem in the crypto world.
* Disclaimer: The writer has CPAY tokens in his portfolio.