Warning: This article was based on information available on http://cryptoeats.co.uk/ and a press release published on https://www.globenewswire.com/ related to this company. We have now found that the website of Crypto Eats is not live and it has reportedly cheated users in millions of dollars. We tried to connect with Crypto Eats through email, but we have not received any response yet. We are collecting more information on this from other sources and will keep our readers updated.
Crypto Eats, a food delivery app that allows people to use cryptocurrency as a form of payment, launches today in UK.
The food delivery startup raised $8 million in Series A funding round in 2020. Many outside observers wondered what was going on, which looked on first inspection to be little more than a normal food delivery app.
How could such a low-key idea to accept cryptocurrency as a form of payment for your food attract such interest from the cryptocurrency community?
What Is Crypto Eats?
Crypto Eats is a food delivery app that allows people to use cryptocurrency as a form of payment. Wade Phillips, Founder and CEO, started Crypto Eats out of frustration with no real world application for the general public for cryptocurrencies.
The food delivery app launched on October 1 for general public. It also announced that users who pay in its native token $EATS will receive 5% discount of its total cost per order. $EATS is launching today, October 17.
Cryptocurrency has now a market cap of $2.5 trillion, according to crypto market database CoinMarketCap. Crypto Eats intends to use crypto community to its advantage to help spur a move towards a decentralized food delivery system.
Crypto Eats Public Launch Follows A Successful Beta
Crypto Eats completed a successful beta testing in the summer of 2021 in and around London, with leading restaurant franchises such as Nando’s and McDonalds.
Crypto Eats says that the beta launch has been successful with its 1,000 private users. These users have been using and testing the app to improve efficiency and customer services and fix any bugs that arise.
Based on the rigorous testing and its powerful platform the crypto food delivery startup is confidant to compete head-on with the likes of Uber eats and Delivaroo. Its algorithm based blockchain implemented software helping it in running an efficient food delivery company.
Crypto Eats revealed that it is now employing more drivers at a speed never seen before in this industry and further staff at Crypto Eats HQ for support.
EATS Token To Have $1 Billion Market Cap In The Next Six Months
Crypto Eats expects that its native token $EATS will reach $1 billion market cap within the next 6 months with its Series A investors unable to sell till 2025. Additionally, the firm also expects crypto eats to become profitable by 2023.
According to the reports, the food delivery market is expected to grow in the next four years by 20% annually. And, Crypto Eats expects to emerge as the main contender and the funding to have it be the leader in crypto currency led food delivery.
Crypto Eats also mentioned that cryptocurrencies owners are looking for new ways to spend their digital currency in the real world. Moreover, first time users expecting to boost the market cap of Crypto Eats have announced already over 100,000 customers who have signed up in their website to download the app on launch day.
UPDATE (Oct. 18, 2021, 04:35 UTC): Updated with warning/ Scam Alert.