< frequently_asked_questions >
FAQ’s

What is ClaroKey?

ClaroKey is a technology company which aims to provide a payment network connecting existing credit card terminals around the world to accept cryptocurrency payments which are converted instantly to fiat.

How prepared is ClaroKey?

The team behind ClaroKey have decades of experience in building successful companies around the world. The ICO is based in Malta, and is regulated by the MFSA. All funds are held by a custodian, and only released to ClaroKey once the ICO is over and sufficient funds have been raised.

What are the advantages of investing in the ClaroKey token?

The token will provide a 50% discount on the network payment fees when used as a means of payment. The tokens will also be a means of payment for goods and services on the ClaroKey network. There will be a finite number of tokens minted, meaning that as the network gains more users, demand for the token should increase.  

When will I receive my tokens?

Tokens will be minted at the end of the ICO. It is expected that token buyers will receive their tokens within 6 weeks of the ICO ending.

Do I need to verify my identity to buy tokens?

Yes. Due to both Maltese and EU financial regulations, all buyers will need to provide proofs of ID, address and to declare the source of funds.

How do I transfer my tokens to my wallet?

The tokens are ERC223 tokens, so you can transfer them to an ERC223 compatible Ether wallet the same way as you would send Ether or another ERC223 token.

On which exchanges will the tokens be traded?

We will aim to list the token on quality exchanges, however this process can only properly start after the ICO. We make no promises to list the token on any particular exchange. We will also avoid listing the token on exchanges that charge excessive listing fees. We will use the funds raised in the ITO for development of the ClaroKey network and for taking it to market.

What is a smart contract?

A smart contract is in its simplest form a piece of code, function or application which is coded on to the Ethereum network. All nodes of the Ethereum network come to agreement on the outputs of the code contained in the smart contract so you can guarantee it is correct.

Why is the token price labelled in EUR?

The ICO jurisdiction is Malta, which is a country within the European Union where the currency is the euro.

What is the hard cap of the ICO?

The hard cap is the maximum which will be raised by the ICO. If the hard cap is reached before the end of the ICO, the ICO will be closed early. The amount set in the white paper is €10,665,000.

What is the total supply of tokens?

A total of 450,000,000 tokens will be minted at the end of the ITO. This is the only time tokens will be minted, and no more will be minted afterwards. Any tokens allocated to the public sale which are not sold will be burned.

How will the funds collected during the ICO be used?

Platform Development: 60%

Sales & Marketing: 20%

General & Admin: 10%

Reserve: 10%

What is the legal structure of ClaroKey?

ClaroKey is the trading name of CashFish Ltd, a private limited company registered in Malta.

How is the ICO regulated?

The ICO is regulated by the Maltese Financial Services Authority (MFSA) and comes under Maltese Virtual Financial Assets rules. The ICO is in full compliance with the guidelines issued by the Malta Digital Innovation Authority, and is subject to annual system audits to confirm compliance.  

some of the cryptocurrrencies we will work with