Curious about cryptocurrency, but confused about the logistics? Or, maybe, don’t want to put your financial security in danger? Zabo is here to answer all those questions—and more—with the release of Papercrypto, a risk-free simulation designed to “demystify, derisk, and devour cryptoconfusion.”
Dallas-Fort Worth-based Zabo, a cryptocurrency bank supporting Bitcoin and Ether, launched Papercrypto to help new and existing users get both engaged and educated. The startup said they believe an alternative financial system will be based on cryptocurrency—but, most people just don’t fully understand it.
So, the trio at Zabo created a solution: a free game that allows anyone to construct a virtual portfolio of cryptocurrencies.
“We wanted a fun way for people to engage with cryptocurrency that didn’t require putting their money at stake,” Zabo President Alex Treece said in a statement. “Papercrypto allows anyone to experiment and learn at their own pace.”
Once signed up for Papercrypto, you’ll receive virtual money that can be used to buy and sell any of the top 100 cryptocurrencies. Although your own money isn’t put at-risk, the cryptocurrency holdings track actual market prices, which means real trading strategies and combinations can be tested.
Also, in accordance with the launch of Papercrypto, Zabo is sponsoring its first trading competition. Traders will compete for around $450 in cryptocurrency prizes, and will be able to track their performance on public leaderboards.
“We want users to not only learn about cryptocurrency but get hands-on experience with the technology and be able to use it in a functional way,” CEO Christopher Brown said in a statement.
In the future, the Zabo team said they plan to add more features to Papercrypto, like educational resources and an integration with Zabo’s own cryptocurrency application that’s set to launch later this year.
Zabo was co-founded by the ‘three amigos’: Brown, Treece, and William Dias, CTO, who operates out of Toronto. In addition to Zabo, the men run Modular Banking, a provider of digital asset services to the banking sector.
“We’d like to be that bank you trust that also provides access to things like global currency,” Brown previously told Dallas Innovates. “There’s a divide between your dependable, traditional banking institution and the digital economy, Nobody is bringing these two together in the U.S. yet, and that’s where we fit in.”
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