Today we are going to take a look at an ICO (Initial Coin Offering) for a new cryptocurrency project called Bankera.

Basically what Bankera are aiming to do is become the “Digital Bank for the Blockchain Era.”

That means everything from payments and debit cards to loans and investments.

Bankera will be set up so that you can use cryptocurrencies such as Bitcoin, Ethereum, NEM and others for payments and banking, as well as exchange them for traditional fiat currencies.

And what is really exciting is that holders of Bankera Tokens will receive 20% of Bankera’s and their partner Spectrocoin’s net transaction revenue on a weekly basis.

This revenue is already up into the millions of Euros!

So not only do you have the possibility of the tokens going up in value, you will also receive weekly income. As we say, already these payouts are looking pretty decent.

But we will go into that further below, as well as take a look at the Bankera ICO in more detail and explain how it will work.

 

What is Bankera All About?

As we say, Bankera is about joining up the world of cryptocurrencies with the traditional banking industry.

The idea is that you will be able to have a bank account with Bankera and hold cryprocurrencies in it, which you can then use to pay bills, make payments using a debit card, get loans, make investments and do everything else you can do with a normal bank account.

Here is a video from Bankera explaining a bit more about how it will all work:

As you can see, it will be a fairly comprehensive banking service. 

The services can be broken down into those that are already available (through Bankera’s partner Spectrocoin) and those that Bankera is aiming to provide in future.

 

Already Available

• – Payment Card – this a prepaid card that allows you to load your Bitcoin onto it and then spend it in shops and use it at ATMs around the world. You don’t have to worry about converting your Bitcoin to fiat currency ($, £, €, etc) as the card does it automatically.
•  – Bitcoin Wallet – store, send and receive Bitcoin using the wallet, which you can have on your phone. Dash, Ethereum and other coins are due to be added soon.
• – Crypto to Fiat Exchange – an exchange where you are able to turn your fiat currency (over 20 currencies already supported) into Bitcoin, Dash, Ethereum and NEM and vice versa.
• – Ability to issue IBANs – Bankera say they have the IT facilities in place to issue people with bank accounts with IBAN numbers (after they receive their banking licence). 

What is really impressive is that Spectrocoin, which is Bankera’s partner and run by many of the same people, already have over 670,000 clients and have issued over 65,000 cards.

So unlike many ICOs and similar projects in the financial space, Bankera already have working products, a big customer base and revenues being generated. This is a really big plus when looking at an ICO.

 

Products to Come

In addition to the products already available, Bankera are aiming to put in place:

• – A Banking Licence – this is the key element of Bankera’s plans and is what a large proportion of their ICO funds will be used for. Once they obtain a banking licence, then they will be able to follow on with the other products they have planned. Their aim is to have the licence in place by early 2019.
• – Payments – this will include payment accounts with personal IBANs, debit cards, interbank foreign exchange rates and payment processing.
• – Loans and Deposits – Bankera aims to provide loans as traditional banks do, but also have the ability to make cryptocurrency loans. Also people who deposit money with Bankera will receive interest, much like with savings accounts
• – Investments – they will strive to provide investments such as Exchange Traded Funds (ETFs), crypto portolios, roboadvisory solutions and eventually even investment banking.

So quite an impressive list of products there and if Bankera can deliver on these then the potential revenue  generated could be quite substantial.

 

ICO

The Bankera ICO is running at the moment and will continue until the end of February or until the hard cap of €177m is raised.

The tokens are currently priced at €0.019 per Banker token (BNK) but will increase in price as certain thresholds are hit in terms of the number of tokens sold, as you can see in the table below:

They have raised more than €70m so far from over 59,000 contributors, which is very impressive and puts them on course to be one of the top 10 ICOs of all time. Clearly the interest in the project has been huge and this gives them a good foundation to start from.

If you want to participate in the ICO and purchase some Banker tokens (BNK), you need to do the following:

1. 1. First open a Spectrocoin account and deposit some funds into it. You can use Bitcoin, Ethereum, Dash, as well as other tokens or even fiat currency.
2. 2. Go to the Bankera website and click on “Get BNK”
3. 3. Exchange your currency for BNK tokens on the Spectrocoin platform and they will transfer the BNK to you.

As we say, this ICO is proving highly popular so may well sell out.

 

Payouts

Now for the exciting bit – the payouts!

As we mentioned above, each week 20% of Bankera and Spectrocoin’s net transaction revenue will be distributed to holders of Banker tokens (BNK).

This is great as it means not only could you benefit if the tokens rise in price, but you can also receive income from holding them. It’s completely passive income.

The payouts are made on a proportional basis, so if you hold 1% of the tokens, you will receive 1% of the payout and so on. A nice simple model, which is good to see.

Payments are made in Ether and XEM using smart contracts.

Interestingly, Bankera have already been paying this revenue out for 20 weeks, so we can see exactly what kind of payouts people have been receiving.

Here is a summary of what the payouts have been so far:

 

Date	Payout Number	Total Net Revenue (€)	Payout – i.e. 20% of net revenue (€)	Equivalent Annualized return
05.09.17	Payout #1	85,219.66	85,219.66*	4.5%**
12.09.17	Payout #2	77,530.22	15,506.04	3.29%
18.09.17	Payout #3	96,715.71	19,343.14	3.72%
27.09.17	Payout #4	66,179.28	13,235.86	2.4%
03.10.17	Payout #5	53,860.43	10,772.09	1.95%
11.10.17	Payout #6	61,495.27	12,299.05	2.22%
18.10.17	Payout #7	96,517.05	19,303.41	3.5%
24.10.17	Payout #8	95,595.13	19,119.03	3.46%
31.10.17	Payout #9	93,968.91	18,793.78	3.4%
07.11.17	Payout #10	97,881.52	19,576.31	3.54%
14.11.17	Payout #11	146,349.87	29,269.97	5.29%
21.11.17	Payout #12	139,436.53	27,887.31	5.03%
28.11.17	Payout #13	175,175.08	35,035.02	6.36%
04.12.17	Payout #14	191,123.85	38,224.77	6.14%
12.12.17	Payout #15	375,644.21	75,128.84	12.06%
19.12.17	Payout #16	344,529.79	68,905.95	10.5%
27.12.17	Payout #17	572,003.28	114,400.66	17.15%
03.01.18	Payout #18	348,529.41	69,705.88	9.32%
08.01.18	Payout #19	478,558.89	95,711.77	11.7%
17.01.18	Payout #20	384,286.76	76,857.35	7.93%
TOTAL		3,480,606.88	760,282.45

• *first week payout was 100% of net revenue
• **annualized return based on pre-ICO price of €0.01 per BNK