Peter Wood joined DeFi Raccoons earlier this week to discuss the latest CoinBurp endeavours. From $BURP** to NFT raffles and don’t forget the integral partners. Find out everything down below!
SB | Admin @DeFi_Raccoons:
Hello everyone
SB:
Today we have AMA with COINBURP
SB:
@y3peto
SB:
Please be so kind to introduce yourself to the community members 🤠
Pete:
Hey everyone, I’m Pete, CEO & Co-Founder of CoinBurp. It’s great to be here today — thanks for having me!
SB:
Please share with us about your experience and work in the Crypto field.
Pete:
I’ve personally been in the crypto space for 7 years, starting my first crypto business back in 2014 called BitBroker, the first UK brokerage ever operating on P2P platforms like Localbitcoins.
I then went on to start my second business CoinBurp in 2018, a centralised crypto trading platform focused specifically on the retail market. CoinBurp is the #1 cryptocurrency platform in the UK based on TrustPilot reviews!
SB:
Well thanks for the introduction
Part 1 — Main questions
SB:
Let’s head on
Towards the main round of the AMA
SB:
Ok, once again welcome, glad to have you with us today! We like to start off with an elevator-pitch for the people that haven’t yet heard of Coinburp — Tell us what #Coinburp is and what are you guys trying to showcase?
Pete:
So CoinBurp is the #1 CryptoCurrency exchange according to TrustPilot UK as I mentioned, and is currently building ‘Coinbase for NFTs’, a custodial DeFi NFT service where customers can buy NFTs for fiat from marketplaces like OpenSea. CoinBurp also plans to integrate more DeFi protocols for users to easily access via the app.
SB:
[In reply to Pete]
Coinbase for NFTs
Sounds interesting
Can you please illustrate a bit more.
Pete:
Sure — the issue in the retail market is that tonnes of people want to enter the NFT space, but the idea of non-custodial wallet and backing up private keys is a huge barrier to entry.
CoinBurp will be solving this by enabling access to the NFT markets directly via the custodial wallets!
SB:
As the crypto market is expanding, the world is seeing the onset of the NFT Era — what hopes do you guys have from this.
How do you plan to implement NFT in your project?
Pete:
Right now in the insured custodial DeFi NFT Wallet, users can securely store their favourite NFTs. Check out this wallet in the iOS and Android app stores — just search for “CoinBurp DeFi”.
By integrating with OpenSea later this year, along with fiat on/off ramps, we look to become the easiest method to buying NFTs.
Furthermore, CoinBurp is creating the free generative NFTs (Here’s a sneak peek —
SB:
[In reply to Pete]
Why have you chosen OpenSea to integrate with?
What was the reason behind this?
Pete:
OpenSea are the #1 NFT marketplace in terms of the amount of NFTs available, even though you must have a non-custodial wallet to purchase them.
CoinBurp believes their UI can be dramatically improved, which is a reason for creating the CoinBurp NFT aggregator marketplace to showcase OpenSea and many other NFT marketplaces!
SB:
Your crypto wallet has claimed to connect the worlds of CeFi and DeFi.
How are you going to achieve this and what is the mechanism behind this?
Pete:
The big thing for CoinBurp is the use of FIAT on/off ramps to buy NFTs. When surveying CoinBurp’s customers, the data showed that 40% of users were interested but hadn’t invested as a result of finding it too difficult to use. That’s where CoinBurp comes in 😏. The aim is to make the process as seamless as possible to allow all technical abilities to be able to invest if they desire.
As an existing FCA-registered exchange here in the UK, CoinBurp can provide customers with peace of mind they’re dealing with a professional company.
SB:
Who is the major Audience of Coinburp?
Is there any focus on non Crypto users, who don’t have any knowledge about NFT and DeFi?
Pete:
CoinBurp is building for the inexperienced crypto users focusing on ease of use — the beauty being that it will cater to both experienced and inexperienced users.
CoinBurp believes there are huge benefits to the technology in the DeFi space over CeFi, and passing this value onto customers without confusing them with the underlying technology is the key to mass adoption.
SB:
[In reply to Pete]
I agree with you 😊
SB:
Great, let’s move on to the next question
SB:
Partners play an important role for the marketing as well as development of the project.
Do you have any strategic partnerships that are backing your project?
Pete:
Sandbox.game, NFT Boxes, Avastars and BCB Group are the initial launch partners — and there’s no stopping there, more to be officially announced! So be sure to follow us to find out who else CoinBurp are partnering with. https://twitter.com/coinburp
SB:
Users are typically concerned about safety when they participate in any Crypto project, so what has Coinburp done to ensure asset security for its users？
Pete:
When CoinBurp releases the full FIAT on and off-ramp and custody (EUR & GBP), it will allow users to buy NFTs directly from their bank account they will be protected using bank-level security. All CoinBurp’s smart contracts are double tested by top smart contract auditors, ensuring the safety of the token ecosystem.
SB:
In terms of value capture, what is the tokenomics of $BURP** token, and how do you stimulate the users to hold your token in the long run?
Pete:
Of course, so by staking $BURP** in the Non-Custodial NFT wallet, you become eligible to win rare NFTs from CoinBurp’s selected partners. In addition, newly issued NFTs will feature a unique staking multiplier, thus increasing the benefits for holders in the future. But that’s just the start, on top of this users can also earn $BURP** 20% of fees will be distributed to $BURP** stakers to ensure sustainability and keep it evolving for years to come. Full details here: https://coinburp.medium.com/introducing-burp-e6542b7f7a9f
Here’s a quick breakdown of $BURP’s** tokenomics:
500 million maximum supply to be reached by 2028
47% of these will reach end-users
11% to early backers and advisors
17% to private rounds
25% to be retained by the team
SB:
[In reply to Pete]
An informative article for the community members
SB:
How will Coinburp be different and more beneficial than other platforms in the market?
SB:
[In reply to SB | Admin @DeFi_Raccoons]
What is your USP?
Pete:
CoinBurp is an established, highly reputable existing blockchain business regulated in the UK and ranked number 1 according to TrustPilot UK. This puts us in a very good position to offer a DeFi and NFT product which a lot of the times it’s been seen come out of anonymous or lesser-known businesses — which is a risk from a security perspective for many users.
The features include world firsts such as staking for exclusive and new NFTs, not just for an APY. The main problem the industry is facing is still a distinct lack of fiat integrations.
SB:
And lastly, can you tell us a bit more about late 2021?
What plans does Coinburp have for the near future?
Pete:
You can find CoinBurp’s full roadmap here —
Some of the most exciting things are:
- $BURP**
- OpenSea integration
- FIAT on/off ramps
- CoinBurp NFT game: CoinBurp CookOff!
SB:
That’s all I had to Ask
SB:
Well, I think that covers the basics so we can now open up the channel and let people ask their questions. We’re gonna unmute the channel, allow a couple of questions and then freeze it up again to give you guys a chance to answer them, sound good?
Pete:
Yep let’s hear the questions 😁
SB:
Please answer at least 5 questions.
At the end select the best 2 questions for Rewards of 25$ each.
Part 2 — Community questions
Thonta Wellman:
What plans do you have to grow rapidly in terms of users, global market and partners? What are your strategies in building a big and strong community?
Pete:
[In reply to Thonta Wellman]
Working across multiple continents with a wide variety of languages is key for us to grow worldwide. CoinBurp will ensure all products built cater for all experience levels!
Gbhj:
Can you share your roadmap with us? What is your main focus for this year and are you planning to list on a big exchange?
Pete
[In reply to Gbhj]
$BURP will be the first project to EVER run 1 IDO and 2 IEOs at the same time! These 2 IEOs will list us immediately after the public sale, which will be at the end of this month.
Join CoinBurp’s Telegram channel for all the latest news: https://t.me/CoinBurp
Blanche Trotter:
How many team members are working now in CoinBurp Platform?
Pete:
[In reply to Blanche Trotter]
CoinBurp was a team of around 14 people until a couple of months ago, but have since grown to 35+ as CoinBurp blitz to scale. There is a mixture of developers, designers, marketing, support, and of course all CoinBurp’s customers too who I would also class as part of the team 😀
Xxxxxxxxxxxxxxxxxxx:
@y3peto
From what I can read they plan to start enabling NFT purchases, but really your long term plan is to be the escrow fiduciary gateway to any DeFi system. That being the case, what other products are you interested in developing to create a broader DeFi system at CoinBurp?
Pete:
[In reply to Xxxxxxxxxxxxxxxxxxx]
Anything and everything in the DeFi space! I feel the immediate focus after NFTs will be collateralised borrowing and lending as this provides huge benefits to what users have access to in CeFi currently!
SB:
Thanks
SB:
It was a pleasure to meet you
Pete:
Thanks for having me!
SB:
Feel free to drop all important links for the community members
Pete:
Discord — https://discord.gg/rfgQrgcf
Telegram — https://linktr.ee/CoinBurpInternational
The community is growing everyday, and it’s overwhelming with all the amazing support. The Telegrams are going global! Russian, Japanese, Turkish and Korean channels are out there for anyone who wants to join 😀
CoinBurp has an exciting year ahead so be sure to follow Twitter for the latest dev updates — https://twitter.com/coinburp
SB:
Thanks again😁
SB:
The AMA has ended
Stay up to date with everything CoinBurp by following the channels and joining the communities!
** The above tokens are issued by Cede Fields LTD (a company incorporated in the British Virgin Islands) and distributed by Kucoin and Gate.io.
Important Information
Cryptocurrencies are generally not regulated and investors do not have access to recourse or compensation schemes such as, for example, in the UK, the Financial Ombudsman Service or the Financial Services Compensation Scheme. Investing in cryptocurrencies can be high risk and investors should carefully evaluate their appetite for risk and their understanding of trading cryptocurrencies prior to entering into a transaction.
