What is the European Crypto Bank?
The European Crypto Bank is a project that was founded by Olivier Forgues who faced a huge money laundering and tax evasion charge in 2008 in the United Kingdom. He was able to beat the charges only because he had kept detailed financial records of all of his holdings, assets, and transactions. Since then he has been helping businesses do the same.
Since 2008, the crypto market has grown exponentially, and as a result, European internal revenue services are cracking down on investors’ income. All crypto traders are now required to report their holdings and earnings on their taxes. The European Crypto Bank wants to help with this by creating a place for investors to store all of their coins and record all of their transactions so that when tax time comes, you have all of the information that you need.
- Tracks Your Income: The European Crypto Bank will keep track of all of your holdings and income, so you have a concise record to report to your country’s internal revenue service.
- Store Your Coins: The European Crypto Bank would function as a digital bank. They would provide you with a secure location to store all of your assets.
- Wealth Management Services: Eventually, the European Crypto Bank hopes to implement a full wealth management service into their business model. Their advisors would manage and invest your holdings as well as take care of all the tax information.
What Issue Does it Solve?
The European Crypto Bank solves the problems that have come with a large-scale crypto economy. There are many investors who have tens of thousands of dollars invested into various cryptocurrency assets, and it can be a challenge trying to keep track of them all. When you’re doing all of the investment yourself on exchanges that don’t have good reporting, it’s very easy to simply forget about a few of the trades that you made over the course of the year.
However, with internal revenue and tax services cracking down on this, it’s more important than ever to be able to provide accurate documentation. The European Crypto Bank wants to help you do this. They plan to provide a digital bank for you to store all of your funds and manage all of your trades. Shortly they will even offer full wealth management services.
Token Sale Information
- Whitepaper: https://europeancryptobank.io/wp-content/uploads/2018/02/WHITE-PAPER-ENGLISH-EUROPEAN-CRYPTO-BANK-ICO-12-02-2018.pdf
- Website: https://www.europeancryptobank.io/
- Token name: ECB
- Accepted payment: BTC, ETH, ETC, LTC, XRP, DSH, BCH, fiat, and bank transfers
- 1 ECB = 0.63 EUR
- Hard Cap: 200 million EUR
- Soft Cap: 5 million EUR
Disclaimer: All information on this post is made to educate our readers. Don’t invest in any ICO unless you’re confident about its capabilities and do so at your own risk.
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1760890
- ICO Accepts Multiple Payment Forms: No matter what your primary holdings are, you are bound to find investing in this ICO to be very easy.
- Tax Reporting: The European Crypto Bank will track all of your earnings and allow users to provide an accurate tax report.
- Poorly Written Website: The website translates poorly into English, and this could turn some investors away as they may see it as a sign-up untrustworthiness.
European Crypto Bank
The European Crypto Bank has a good ideology behind it and most importantly a lot of experience. All of their team members have years of experience in various cryptocurrency and fiat financial sectors and bring their expertise to the table. While this may not be the best ICO to invest in for quick profits, they certainly hold some promise in the longer term.