The problem of consolidating the myriad technologies on the blockchain ecosystem has been an issue many within the space have grappled with ever since the ecosystem's inception. This problem is perhaps even more pronounced as it relates to cryptocurrencies; for while the technologies are available to allow cryptos to survive, the inability to bring several technologies together under one umbrella, has, thus far, made operating within this space extremely hard, and hence, usability and accessibility of the many currencies remains a challenge. This is especially as it relates to the mobile industry; where there is no app that the customer can use to do things like:

1)Buy multiple cryptocurrencies.
2)Store multiple currencies in one place.
3)Employ a messaging system to communicate with other cryptousers to keep up-to-date with the goings-on in the crypto world.
4)Take advantage of the most up-to-date security system that uses multiple ways to verify one’s identity and thus ensures that one’s assets are safe.

The Alttex Antidote

Now Alttexx, a mobile application system built on the blockchain, is solving this problem by bringing together, on one platform, three technologies cryptousers find necessary to transact business within the space. Namely: “a decentralized crypto exchange, a crypto messenger and a crypto safe, all of which have been developed based on IOS Android and Windows Mobile platforms.” To top it off, Alttex allows users to buy currencies from anywhere in the world using any bank card.

That Alttex has emerged to address this issue, means that navigating the crypto world will be easier for people like this writer who is domiciled in a foreign land where one is still not au fait with the language and culture of this country, and hence not able to transact business efficiently in his present place of abode. In addition, Alttex has spared me the trouble of having to hop from one platform to the next in order to receive the benefit of the three aforementioned things. This is because Alttex has created a one-stop shop to make it easier for users to circumvent the centralized exchanges and engage in peer-to-peer transactions to buy and trade cryptocurrencies.

Video Summary

Purchasing Cryptos using Fiat

Not to belabor the point, but purchasing cryptos using bank cards is next to impossible in many places. For example, Bitflyer, a famous Asian exchange recently announced that it will no longer be accepting bank cards. This means that thousands of customers will have to buy their cryptos using hard cash, which can only be accessed on certain platforms, for example, localbitcoin, which only sells BTC that will then have to be transferred to a wallet of one’s choosing, say Copay, which, unfortunately, only uses Bitcoin. This is quite daunting, especially for the recently initiated like myself who are technologically challenged and would like to access easier routes to transact business within the crypto space, and also get access to multiple currencies.

Security

Regarding the aforementioned platforms, that is Copay and Localbitcoin, to which we can add Mycellium, Jaxx, MyEtherWallet, and a host of others. With these wallets, compatibility, usability and security are issues. Compatibility in the sense that none can be used for both mobile and PC. This is a problem which also encapsulates usability. But perhaps more pressing is the latter. The many wallet hackings in recent months have brought the entire space under the microscope. Confidence has been lost, and some platforms are still struggling to rebuild their reputation. Even more so is that fact that we are not certain how many wallets are hacked daily.

That so many have failed to keep their customer’s assets secure, is among the reasons Alttex decided to create AltSafe: “an interactive, multi-currency wallet that displays real-time account balances using push notifications. It is a “Warm” wallet, meaning it combines the advantages of Hot (Online) and Cold (Offline) wallets by allowing users to decide how much of their funds they want to keep in both,” whether it be BTC, ETC, DASH, ALTX, among others.

Many of us within the cryptospace do not have a lot of cash to play with, therefore AltSafe’s three-pronged approach to securing its customer’s assets is quite welcomed. Alttex has employed the use of facial recognition software, touch ID and two-factor authentication, to verify people’s identity, makes Alttex virtually impregnable. This for me as a 9 to 5er who is trying to use cryptos to escape the rat race, a superb innovation. This is because it means that my funds will be safe from the unsavory characters who would seek to fleece the technologically challenged like me, and the many who are among the owners of the estimated 21 million crypto wallets.

But not only is Alttex fusing the hard and cold wallet concept to create the warm wallet, it has also created a mechanism by which people can manage their funds. Combing through their whitepaper one has learned that one of the guiding philosophies of its creators is to assist users in saving their money. For while many are becoming fantastically wealthy from cryptos, an equal number lack the financial literacy to keep it; which is why AltSafe’s built-in mechanism to help persons save their money becomes even more relevant.

AltMessenger

It would be remiss of me to go on at length without mentioning Alttex’s decentralized messaging system. AltMessenger goes beyond merely allowing people to communicate and “allows [me] to purchase goods, sell items, and receive cryptocurrency” without a third party. The writer mentioned he is domiciled in a foreign country where communication is a problem. Therefore the ability to make voice calls to any part of the world at some of the lowest rates is beneficial to me because most of the people with whom I converse and do business with are thousands of kilometers away.

Plus, we have all been in the position where we had to wait on information to be posted on the various messaging platforms to get information; which as we know are separate and apart from the exchanges. This means that we would have to have several apps opened at any one time. Alttex eliminates this problem by bringing everything under one umbrella.

The Team and Potential for Growth

Alttex is indeed a solid project. Just look at the team of erudite and overly competent individuals, lead by the inimitable Evgeniy Meita, have brought years of expertise in the area of finance, IT, communication, just to name a few, to this project. The measure of a project’s potential can be sought in the past success of the team members. Most of the Alttex team have garnered success in their various industries, which gives the investor confidence that this project will be successful.

Added to this is the length of time of their ICO, which they will use to make their utility token ALTX available to the public. To many, it may seem long, but recall that there are over 50,000,000 tokens and this is a serious well thought out project. But it has been in the past that the best ICOs take time. The Alttex team’s decision to employ this strategy speaks to the fact that the creators have thought long and hard about releasing a great product. The same can be said about their roadmap which is still in motion.

To top it off, the team is aware that growth and change is inevitable in this space which is why “Alttex… is utilizing technology such as Atomic Swap, Ethereum, 0x protocol, Dogethereum and NIPOPOW (Non-Interactive Proofs of Proof-of-Work).”

Additional Resources

https://alttex.io
https://alttex.io/WhitePaper_En.pdf
https://www.youtube.com/channel/UCeKNpBvZBf3Q8O1jCKcHHrg
https://bitcointalk.org/index.php?topic=2699474.0
https://medium.com/@alttexico/crypto-currency-is-very-fast-gaining-popularity-81695c5e74f3
https://www.facebook.com/alttex
https://twitter.com/alttex_io
https://github.com/alttex?tab=repositories

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