Who scammed ya? @Cryptothug

For those not aware, there have been a series of posts by a user, @Cryptothug, “exposing the truth” on Cryptopay. It seems like this guy is just a troll, a hater, or whatever other term you’d like to use, but he needs to be dealt with and we want everyone to know what’s going down with Cryptopay.

Let’s get this out of the way. @Cryptothug, thought he was slick pointing out some things about Cryptopay, and our ICO. We love the hate, we must be doin’ something right. The crypto game is tough and sometimes you just need to deal with cryptothugs — he’s got it twisted, and his arguments are baseless and have nothing to them. But, hey, the game is the game. Let’s go through them one by one.

There were no contactless cards to begin with, was there guys?

This dude is just straight up wrong. We did have a contactless card program with 7040 cards (virtual and plastic) issued, despite how short lived it was. This sucks, but the financial world is cruel, and not everyone loves cryptocurrency as we do.

You just wanted to pump your ICO right….Just a basic crowdfunding program. And the SEC should probably investigate you for fraud.

Not really sure what “pump your ICO” even means, but whatever bro. If anyone has done their due diligence and read our White paper, then they’d know what going on. You’ll see everything from the token structure to our milestones. The way the token is structured has nothing to do with the potential reason for a SEC investigation - do you really know how it works, man? Contrary to other projects we don’t steal money, but take investments and develop projects.

And aren’t you using WaveCrest. Cards outside the EU cancelled mid-October right? What business do you have left?

Yea, we’re going to use WaveCrest and we are also conducting negotiations with a few other providers so we can resume our contactless card program. However, this will take some time. All current cards are issued by WaveCrest and there’s nothing to worry about.

Aight, so we’ve got that out of the way, now onto the current state of affairs.

After 6 months of arduous work to provide the bitcoin community with some of the first contactless cards, we have unfortunately had to cease the operation of this card program. One day a company’s attitude towards cryptocurrencies can be great and conducive to business, while another day it can be hostile. What happened with the contactless card program is a reflection of that. Not all services share the same beliefs about cryptocurrencies as us and our users.

I couldn’t find many information about this closure, other than a help page, which took me a while to find. This means they probably want to keep this announcement as hidden as possible, because they are aware it will highly affect their ICO event.

Well there isn’t much information to be released. Anyways, we sent out an email to our clients saying what’s happening to our contactless card program.We’re not keeping it hidden, as we’ve also posted on various social media platforms, and this article also touches on that. This notion out there that Cryptopay never had a different card provider just isn't true. We had a new card provider that gave us the means and ability to provide our contactless cards.

Now, we cannot provide these cards, and we can only provide services for customers within the European Territory. This is unfortunate, but it was in the best interests of Cryptopay and our wider customer base to revert back to doing business with WaveCrest. So, we’re in the same boat as every other cryptocurrency debit card provider. It’s not ideal, but it is what it is. Sometimes you just need to suck it up and deal with it.

The old card program gets shut down and now we’re in the process of creating another one. As always, we’ll continue developing and evolving as a company.

There is also an opinion out there that we just wanted to start our ICO just to take money from people without releasing products. This theory that we are a scam 4 years in the making is so far fetched to the point that it’s absurd. We focus on creating reputable and consistent products for the crypto world. Our current and upcoming products reflect that. An ICO is the best means to gain funding right now, and we are taking advantage of this.

Crypto and traditional finances are growing closer to each other each day. Our digital wallets and debit cards have begun to bridge the gap between these two worlds, and our upcoming products will complete this bridge.