Cryptocurrency investing is an intimidating market to first venture into, especially if you are doing it alone. That statement is no mystery to anyone who has, at least, heard something about cryptocurrencies or read an article related to their trade. And while many just assume that trading cryptocurrencies is hard because of their volatility and their status as a relatively new asset, the reason is often more technical and practical than that.
One of the main reasons seasoned traders sometimes feel intimidated by Bitcoin and altcoins is that they are such a new market to take part in thanks to all of the processes necessary before the actual act of trading even begins.
Many traders have no qualms about volatility or the basis of Bitcoin functionality, but choosing the right crypto wallet and exchange and setting them up can be a daunting task for them to fulfil since it is not a process they are used to.
Etcetera is an upcoming project that seeks to change this issue and enable crypto investing for anyone by giving them a way to acquire Bitcoin, Ether, and other crypto coins in a way that’s much more comfortable for the average investor and person.
The idea behind Etcetera is that of the physical distribution of crypto assets with a worldwide reach and available in traditional local stores so that anyone may merely go inside, pay for them, and walk out with new coins of their preference.
But, how will they do it?
Etcetera will function through cards that will be credited with a sum of a specific coin. So far, Bitcoin, Ether, and Etcetera’s token have been confirmed as the currencies supported by the cards.
In essence, the process goes like this:
- A customer who wishes to purchase Bitcoin or Ether walks into a store with Etcetera cards.
- He orders a specific amount of one of the supported currencies.
- The store scans the card, and the order is transmitted to the Etcetera platform where the card will be “charged” according to the customer’s specifications.
- Once the card has been credited, the customer may walk out of the store with his card and his coins.
The card is, mostly, a cryptocurrency wallet available on a durable card that functions offline. This card shows the public address and a QR-code for quick transactions while the private keys are protected by a scratch-off layer. Each card comes with a booklet containing instructions on how to utilise the cards with the Etcetera app.
And, on the topic of the app, Etcetera is providing a mobile wallet app where users can import their card wallet’s coins and start using them online, trading them like it has been done so traditionally. The app will also allow for customers to trade cryptocurrencies through the application itself.
Etcetera is launching an ICO to push for final distribution expenses and to generate a reserve for their cards once they’re released since they’ve already set up both the infrastructure and the channels necessary for operations. The details can be seen on their website.