FXPAY: BRINGING YOU FOREX POWERED BY BLOCKCHAIN TECHNOLOGY

INTRODUCTION

I grew up to learn about Forex, it has been in existence for a very long time. Forex is said to be one of the worlds most profitable ventures that boost the economy of the world. Over the years it has been estimated that over $54 million is gotten from the forex martet as a turn over. Despite how lucrative forex trading is, its still without it challenges. In many occasions trader are faced with several financial risk and the exposure to these risk results to loss on investement. Find below the problems faced by traders in todays forex market.

PROBLEMS OF THE CURRENT FOREX MARKET STRUCTURE

1. High transaction fees: brokers fees incurred on forex participants when exchanging and transacting with liquidity providers and exchange bodies (5-7% respectively)

2. The lack of a standard in the forex market brings about inefficiency and , complications that leads to the inconsistency of brokers fees.

3. The inefficient and complicated transaction process of exchanging local currencies can be time consuming and take days sometimes.

FXPAY

FXPay is an imaginative and very appealing business opportunity, with the point of bringing inventive innovation into foreign trade exchange market. FXPay aim is to fundamentally decrease all hazard related with executing forex trades. It is also a means to lessen the challenges of executing on outside trade advertise by means of the presentation of the FXP tokens – this is an Ethereum token in view of the ERC20 standard.

FXPAY aims it to change the forex market. Utilizing blockchain innovation, it tends to tackle on behave of every one, the difficulties and wasteful aspects existing in the current forex market. The average exchange time of FXPAY Is generally shorter than the current framework in the forex market. Besides, the exchange fees on the FXPAY ecosystem is low and it lies between 0.5 % - 1% not at all like the existing platform in the forex market that request up to 7%. Having provide a more reduced fees to brokers, nothing is stopping the forex brokers to eagerly come onboard the FXPAY platform.

SOLUTIONS WITH FXPAY

The aim of FXPAY is to decentralize the forex process and create a user-friendly community that meets and solve the problems of all forex participants(traders and liquidity providers). After identifying these above mentioned problems, the FXPAY team decided to harness the advantages of the blockchain technology by creating a registered ERC20 token that efficiently ensures the security of investments and token management which is both done in a cost-saving and faster manner.
FXPAY is a decentralized medium to the forex market that utilizes both the FXP token and smart contracts to address the inefficiencies in the current forex market that hinders the security of forex investment.

HOW THE FXPAY MEDIUM WORKS

Upon registration to the FXPAY platform, users(traders, liquidity providers, brokers) can swap their fiat local currencies effortlessly into FXP tokens which provides a high market volatility and can be swapped back to a more stable fiat currency or cryptocurrency, this FXPAY tokens are then converted to Forex Credits that are used to paritipate in the forex trading and upon finalizing a trade, users can either convert this forex credits back to FXP or any other cryptocurrencies OR keep forex credits to participate in other trading deals or be converted into any form of fiat currency through the FXPAY platform at the very minimum cost.

This ensures higher profit merging for FXPAY users due to the extremely low transaction fees and at real-time transaction speeds. To ensure a higher liquidity, the FXPAY will launch it own premium broker that enables users to trade FXP back to local fiat currencies.

BENEFITS OF THE FXPAY MEDIUM TO FOREX PARTICIPANTS

1. FXPAY Traders will trade to FXP which ensures cheaper and more profitable transactions.

2. Brokers using the FXPAY platfprm will attract more customers due to the inability to purchase FXP at discounted rates.

FXPAY TOKEN DETAILS

for more information visit the links below
https://fxpay.io/
https://fxpay.io/pdf/FXPAY_V.1.5.pdf
https://t.me/fxpglobal
https://twitter.com/fxpayglobal
https://www.facebook.com/fxpayglobal

Author details
Username: Kingairdrop
BTT link: https://bitcointalk.org/index.php?action=profile;u=1862137