FXPay: Decentralized Access To Global Digital Ecosystem

ebykamsiokoro (40)in #fxpay • 6 years ago (edited)

Introduction

For such a big and lucrative industry like the Foreign Exchange (Forex) industry, it has remained a mystery as to why the processes and entry barriers are set so high and made complicated. The Forex industry as we know it today is inundated with several shortfalls that often times turn people off from pursuing it ernestly. This has resulted in just few having the whole industry to themselves, and most newbies venturing in end up losing out and frustrated.
Some of the issues prevalent in the traditional Forex industry include the inordinately large charges incurred by brokers, liquidity providers and traders when exchanging funds, the inconsistencies and lack of transparency in brokers fees owing to lack of standardization, complicated fund exchange processes that are time wasting, often taking several days for just a single transaction to conclude, to mention but a few.

What is FXPay?

FXPay is a well-thought out project aimed at bringing simplicity, low fees, speed, transparency to the forex industry. Powered by the revolutionary blockchain technology, it is positioned to bring lasting solutions to forex traders and lower the entry barrier so more people can enjoy the huge benefits in the forex industry.

FXPay is a disaggregated cryptocurrency token deployed by FXPay Inc. It is a licensed ERC20 standard type token that is Ethereum-based and uses the smart contracts to attain investment security and token management.

Benefits of FXPay Platform to Participants

For the FOREX traders, they can enjoy several benefits by retaining FXPay coins and FXP raises its value. Everybody in the FXP network will trade to FXP to acquire more profit and lower transaction costs. This will equally offer a robust cash flow that will run through the exchange and it will constitute one of the key points to develop the FXP foundation and cause a steady increase in price.
For the FOREX brokers, they can benefit in two major ways. By sending the cash to LP or banks FXP will serve as a payment interface, but primarily, of issues discounts to FOREX brokers. By buying or storage of FXP, brokers can purchase FXP with rase at a much reduced price then share to their traders or exchange it within the house. FXP is an intuitive marketing marketing tool to acquire more customers for the stockbrokers.

FXPay Community

FXPay is committed to developing a real-time, safe and global ecosystem for it users. FXPay Incorporation seeks to present a big, global and eco-friendly network on a digital platform that is created to satisfy the gaps of the FOREX liquidity offerers and traders.
The main attention will be on optimum brokers who demand a new transaction system that is made cheaper and more efficient via the use of blockchain technology. FXPay incorporation intends to leverage on this and become their own optimum broker. This will enable clients to freely invest in the FOREX market with the token.
This will offer a platform with both set users and major daily volumes which will gently raise the price with time.

Components of the FXPay Platform

FXP Utility Coin

This is basically a utility coin that will keep increasing in value as it is used in the FOREX market and use FXP for the several transaction process.

Payment Gateway

FXPay serves as a payment gateway system for the FOREX market which is the world biggest financial market. A payment gateway undertakes several tasks to ensure smooth payment system between backs receiving and the banks giving out the currencies.

The payment gateway determines whether the transactions are ratified or turned-down by ratifying transaction details and as well offer a safe pathway to transfer information between every concerned parties.
The FXPay payment gateway enables brokers to make immediate payment to liquidity offerers via blockchain technology. Via this method, transaction fees are brought down from the present rate of between 5% to 7% to between 0.5% to 1%.

ERC20 Token
FXP is an ERC20 standard type token that is deployed on Ethereum network, which is one of the biggest and dependable blockchain technology structures. The FXPay Payment Gateway will depend on the Ethereum blockchain via the utilization of the FXP token. The ERC20 token will enable FXPay to take full management of hosting cryptocurrencies.
Ethereum is a well-structured digital currency that serves as the backbone for the platform technology and which will ensure cyber-safety for every transactions.

Conclusion

FXPay platform seeks to remove the barriers of high transaction cost, delay in transferring funds, and inefficient operations by introducing an intuitive and innovations platform that serves as a gateway for FOREX traders and brokers.