FAQs
General
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Criptan is a Spanish company that was founded with the goal of simplifying and bringing the world of cryptocurrencies closer to people’s everyday lives. We understand that it’s a complex and overwhelming space, and we’re here to assist you with whatever you need.
Through Criptan, you can buy, sell, send, and receive cryptocurrencies, request and use the Criptan Card, and subscribe to savings plans to help your money grow.
Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom
In other countries, except for some sanctioned countries, FIAT transfers are restricted, so you can only operate by depositing and withdrawing cryptocurrencies, as well as making purchases with debit and credit cards.
At Criptan, we prioritize the security and reliability of the projects we work with. While our range of cryptocurrencies is limited, this only enhances the security of the deposited funds.
Bitcoin is the first cryptocurrency and remains the most well-known and valuable. It was created in 2009 by an individual or group using the pseudonym Satoshi Nakamoto. Bitcoin is a decentralized digital currency that operates on a peer-to-peer network and uses blockchain technology to record and verify transactions. It is used both as an investment and a digital currency for online transactions.
Ethereum is a blockchain platform that enables the creation of decentralized applications and smart contracts. It was proposed by Vitalik Buterin in 2013 and launched in 2015. Unlike Bitcoin, Ethereum not only focuses on cryptocurrency transactions but also allows for the execution of self-executing programs called ‘smart contracts,’ which can automate agreements and processes.
USD Coin is a stablecoin cryptocurrency backed 1:1 by the US dollar. Each USDC issued is backed by a reserve of dollars held by a financial entity. This provides stability in its value and makes it useful for transactions and as a store of value during times of cryptocurrency market volatility. USD Coin enables users to efficiently move digital dollars on the blockchain.
Litecoin is a cryptocurrency created by Charlie Lee in 2011, heavily based on Bitcoin’s code. It was conceived as a ‘digital silver’ in contrast to Bitcoin’s ‘digital gold.’ Litecoin aims to enhance transaction efficiency and confirmation speed compared to Bitcoin by using a different mining algorithm and shorter block times.
At Criptan, we have chosen to reward users who have the most trust in us. That’s why any user with at least €20,000 in active deposits in the Criptan Earn program receives a 100% discount on ALL fees. Likewise, customers with between €5,000 and €19,999 in active deposits in the Criptan Earn program receive a 50% discount on ALL fees. This is detailed in the following fee and pricing table.
Activate rewards on your account, and every day, you will receive rewards for the balance of your Euro, USDC, Bitcoin, and Ethereum accounts, one for each account
To start receiving rewards, the first thing you need to do is activate the “Receive rewards for my account balance” switch in the app, under the “Rewards” section, within “Settings,” in “Your Account.”
Once you flip the switch and save the changes, a message will appear indicating when the status of the feature will change to ACTIVATED, and it will be at that moment that you will start generating rewards, with the first one arriving the day after the indicated date.
To deactivate this feature, the process is the same as for activation. You should go to the “Rewards” section, and this time, turn off the switch. Once you do that and save the changes, a message will appear indicating when the status of the feature will change to DEACTIVATED. From that day on, you will stop receiving rewards.
By activating rewards, you give Criptan permission to use your funds and give you returns in exchange. In the event that Criptan experiences liquidity problems, it could affect the principal deposited. However, our priority is the security and support of your funds, so you can trust our commitment to you.
- Advantages: Receive rewards every day for funds that are always available.
- Disadvantages: In exceptional situations where Criptan did not have the necessary liquidity to face all withdrawals in the short term, those that have the switch deactivated would be prioritized.
To receive rewards, there are minimum balances for each Account (check the ‘Rewards and fees’ section, here). These minimum balances are independent, meaning you can receive rewards for Bitcoin if you have a balance greater than the minimum, even if you don’t reach the minimum in another Account.
As for the calculation of rewards, a daily comparison will be made between the balance at 00:00 AM of each Account with the balance of the same Accounts at 00:00 AM of the previous day, using the lower balance as the basis for the calculation. Let’s look at an example:
Euro balance, Day 1 at 00:00 AM: 2500 EUR Euro balance, Day 2 at 00:00 AM: 1400 EUR
In this case, since the balance on Day 2 is lower than on Day 1 (1400 EUR vs. 2500 EUR), the rewards will be calculated based on the Day 2 balance.
The APY to be paid in each Account can be found in the ‘Rewards and fees’ section, here.
The rewards for each Account will be received at 00:00 CET each day, whenever applicable.
To use an authentication app instead of SMS codes for your withdrawals, you can set it up from your user profile in ‘your account.’ It’s as simple as accessing ‘Verification and Security,’ enabling the second factor authentication option, and then following the steps outlined for activation.
