C+Charge is a blockchain-based platform that aims to revolutionize the EV charging experience. The platform offers a peer-to-peer payment system for EV charging stations, which can reduce transactional costs by eliminating the need for bank transfers. In addition, C+Charge promises to give cashback in the form of carbon credits after charging using its tokens. To raise funding, C+Charge sold CRST tokens and promises to direct 1% of transactional fees for buying carbon credits and distributing among holders.
Benefits of Using C+Charge Crypto
- Easier and cheaper charging: C+Charge’s peer-to-peer payment system can eliminate the need for bank transfers, which can save drivers money on charging costs.
- Offsetting carbon footprint: When drivers charge their EVs using C+Charge crypto, they can earn carbon credits that can be used to offset their carbon footprint.
- Supporting climate projects: C+Charge’s promise to buy carbon credits can help to support climate projects that are working to reduce greenhouse gas emissions.
Risks of Using C+Charge Crypto
- Early stage development: C+Charge is still in its early stages of development, so there is no guarantee of its success.
- Only one source of income: C+Charge plans to make money from charging transactions. If EV charging stations don’t implement C+Charge crypto for payment, or if drivers don’t want to use it, the company will fail. In fact, the company could initiate or invest in climate projects from EV charging, but it hasn’t done so yet.
- Unclear carbon credit supply: It is not yet clear how many carbon credits C+Charge will be able to purchase, or how valuable these credits will be. C+Charge previously announced that it had an agreement with Flowcarbon to provide Goddess Nature Token. However, the announcement has been deleted from Flowcarbon’s website. This suggests that the agreement may have been terminated
- Low liquidity of carbon tokens: Carbon tokens have low liquidity. This means that it can be difficult to sell carbon tokens for fiat currency.
- Low return on investment: C+Charge crypto promises to pay only 1% of its profits to token holders. In addition, the return will be paid in the form of carbon tokens.
- Unclear carbon credit earnings: The amount of carbon credits that drivers can earn by charging their EVs using C+Charge crypto is not clear. The platform has not yet released any details about how many carbon credits users will be able to earn for charging.