• Comfortable Shopping
• Comfortable Banking
• Comfortable Investing
• Is blockchain a solution?
• Is FIAT money a solution?
• TenX is both: cryptocurrency and FIAT money
• How do I install the wallet-app?
• Some questions that came into my mind
• How does it work?
• Conclusion
• Links

Cryptocurrencies are complex. Normal shoppers don't want to bother about blockchain, exchange rates, resource-rates and all that technical stuff.

They just want to shop and pay with as little effort as possible (but with maximal security).

A cryptocurrency like Bitcoin doesn't offer that comfort.

You need to carry a wallet, to know the key of the recipient, …

Maybe at your Home office this is ok, but when you are in a shop and want to buy some shoes or a new notebook or whatever, then you just want to lay down your card and pay with it.

And if your card gets stolen, then nobody should be able to use it.

And the biggest problem is: In normal life, no one uses cryptocurrencies.

The same with your banking. Usually you don't want to exchange between different kinds of currencies. You just want to transfer or receive some money.

When you are in the lucky position to save some money for the future, even then you normally don't want to care about every possibility to invest your money. Usually you just want as much return on your investment with maximal security.

Maybe you have heard about all the wonderful things that blockchain based cryptocurrency can do:

• Eliminate the middlemen
• No "change of rules during the game"
• Decentralisation
• No (or few, but defined) inflation
• Safe and secure
• …

Maybe you even have tried to get into this market and technique, but in the end you gave up. And you don't need to be ashamed, because it is really a very complex story.

When you use your Dollar or Euro, then for you it is easy to use, because you are used to it since your childhood. Everyone can handle it. But you also recognize, that the world is changing. Some people got very rich with cryptos. And you fear for your earnings in the future, because there is a inflation, that you cannot control, which devalues your capital. What would you think, if there was a mixture of both: FIAT and Crypto, which only takes the advantages?

When you get the TenX debit card, you can pay everything, that you can pay with any other debit card too.

You just lay your TenX-card on the desk and the cashiers takes exact the amount of the price you want to pay.

Or you put it for example into an park ticket machine, type in your 4 number Code, and pay the ticket (in Euro/or USD/...). And after that you look on your smartphone-wallet and see, that your Bitcoin-amount has shrunk for the value of that ticket.

It is so easy, that everyone can use it.

Here in this 1:22 minute video is the proof:

https://www.youtube.com/watch?v=poMC-Gpm4xU

If you want to pay with another cryptocurrency you just change on the TenX app the coin and press on "Link to Payments". After that you pay with your card. You don't need to care if you pay in Euro, USD, Yen, whatever. You never need to change your money at the bank any more. Just upload an amount of "your" FIAT currency via a stock exchange or an ATM-Machine into your favourite Cryptocurrency and transfer it to your TenX-wallet. After that you don't need to worry about paying anymore.

Here is another short video:

https://www.youtube.com/watch?v=IjngOjwOrew

After I got aware of these possibilities, I was eager to be part of that game. So I installed the TenX wallet on my smartphone.

It was very easy and I want to share you my experience:

At first I installed the app:

Then I clicked through the installation process. Please be aware, that you store your password on a secure place:

A two-step authorization process is necessary for enhanced security. I chose Google Authenticator:

Now I have added my favourite wallets and verified my account via email. This is necessary if I lose my phone, so that TenX can restore it.:

Then, I wanted to fill my wallet with some Ethereum. Therefore I clicked on "ETH" and "Receive". Then I sent 0,179 ETH to this from my enji-wallet address. After a few minutes the money has reached the TenX wallet.

After that I wanted to order the TenX-Debit card. But I'm living in the wrong country for that :-( . I clicked on the "Card" symbol at the main menu, but I got this message:

So I have to wait for this card.

I have used the enji-wallet app before. From there I exported the so called "seed", a twelve word combination password, and stored it into my password-database. This helped me to restore the app on another smartphone. I just installed the app there and typed in the seed and I could see my stored Ethereum in the wallet.

But with the TenX wallet this feature is not supported yet. I have found here, the following answer:

_ Wallet backup isn't possible at the moment, as it's a hosted wallet. In the future, along with the implementation of COMIT, you'll be able to export/backup your wallet._

This is not really a problem, but it means, if I lose my smartphone, that I have to contact the support from TenX, to get back my wallet. I hope, that it will get fixed soon.

But the private key is also not in my own hands (see here). That means, that we should not transfer to much money onto the wallet. But this is only temporary and shall be changed this year (2018).

Sending crypto-money to an external wallet incurs a fixed fee of ETH 0,001 (EUR 0,16) or BTC 0,00003 (EUR 0,15). Sending to other TenX wallets is free of charge. (This info is taken from the app).

To get the physical card once you need to pay 15 USD, with an annual fee of 10 USD. When you have more than 1000 USD transactions per year, you don't need to pay that fee.

As far as I know: No.

The technique behind TenX bases on the COMIT-Protocol (Cryptographically-secure Off-chain Multi-asset Instant

Transaction network)

Let me explain it in very short words:

• Cryptographically-Secure
  • Means, that the blockchain techniques are used. They have been proven as secure.
• Off-Chain
  • Bitcoin and Ethereum have the disadvantage, that they need a lot of resources to calculate the transactions. Therefore their actions are expensive and slow. An off-Chain transaction means, that an amount of currency was taken out from the main-chain and now is transferred between some trusted partners outside of it. Only when new money is needed or has to be sent back to the main-chain, Bitcoin/Ethereum-mining is needed. This procedure is fast, cheap and good for the environment.
• Multi-asset
  • With TenX it is possible to keep different wallets on your smartphone. So you can either pay with Bitcoin, Ethereum, Dash or litecoins. Others are coming soon. (Personally, I am waiting for Steemdollars ;-))
• Instant Transaction Network
  • COMIT can be called "Internet of transactions". There is a COMIT Routing Protocol (CRP), which connects different kinds of blockchains. It is an adoption of payment channels (like Lightning Network, Raiden,….).

To see more details, look at the COMIT Whitepaper.

When I find time, I'm going to explain more about this fascinating , powerful and revolutionary technique.

TenX is the manifestation of the decentralization of the finance system. One doesn't need to care about different (crypto) currencies. One can have one Debit-Card and wallet and can pay with it everywhere in the world.

• Project Website: https://tenx.tech/en/
• Products & Services: https://tenx.tech/en/wallet and https://tenx.tech/en/card
• Wallet App: Android. iOS.
• TenX Team: https://tenx.tech/en/our-team/
• TenX Story: https://www.youtube.com/watch?v=OKhssqtezn4
• TenX Official Chat: https://chat.tenx.tech/home
• Facebook: https://www.facebook.com/tenxwallet/
• Medium: https://blog.tenx.tech/
• TenX Twitter: https://twitter.com/tenxwallet
• TenX Instagram: https://www.instagram.com/tenxofficial/

Researched and written by: Achim Mertens