Bullshit detector: what's happening with Metal Pay after ICO?
10/27/2017

Overview from the team kript.io


What is Metal Pay: a system designed for payments by cryptocurrency and fiat money.

The front-end of Metal Pay is similar to PayPal. For each transaction, they promise to give a little reward in their tokens. Thanks to a blockchain, they plan to reduce the transaction commission to 4-5% compared to traditional payment systems.
Website: metalpay.com

Token trading: July 9, 2017.

Where to buy tokens: Bittrex, Binance.

Token price: +614,75%.

How much they planned to make/made: they sold 2% less tokens than planned. As a result — $3,79 million raised.

What their token gives you: an internal currency.

What will happen to tokens: 31% of all tokens will be frozen for one year.
What they promised/made:
spring 2017 — multi-cryptocurrency wallet, credits and deposits — ✖️

summer 2017 — banking rollout and a metal bank account with prepaid debit cards. You can use Metal cards everywhere where Visa is accepted — ✖️

fall 2017 — integrated NFC hardware tap-to-pay terminal — ✖️

Crew: a few days after entering the market, Sid Parihar started leading UX Design. He previously spent eight years at Apple, helping design game changing products. At Metal Pay Sid will be in charge of branding and design of the product.

Review after ICO:
in August they launched a private beta testing for 50 people: the team, their friends, and a few people from Telegram, Slack and Facebook. One month later, they announced the success and released the first version. The working functions: using your Trezor or MyEtherWallet accounts, you can already create a wallet in Metal Pay;

they hired new people: developers for iOS and a graphic designer from Apple;

they also released the second version for a private alpha-testing. What's important: now the system supports a Ledger wallet;

they announced the official date when the private alpha-version will become public — October 30, 2017.

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