Some of the major problems faced by cryptocurrencies are less liquidity and fewer acceptances or regulations. "Liquidity simply means the ability of an asset to be easily converted into cash at an instance or when it is readily on demand".
There are certain differencies between fiat currencies and cryptocurrencies which I will mention as follows :
- Fiat currency is generally accepted in the country it belongs.
- Fiat currency can easily be spent anywhere in various countries.
- Fiat currency is accepted for shopping in every store in different countries.
For cryptocurrencies, these are not the case. In fact, most people in different countries haven't heard about cryptocurrency, some might have heard but still don't know how it works. Most stores do not accept cryptocurrencies as a means of payment or medium of exchange.
All the highlights mentioned above for cryptocurrencies result in low acceptance and low acceptance of asset results in lesser usages and low values. Some people find it very hard and inconvenient to go through exchanges before they can exchange their digital currency to fiat currency.
TenX blockchain came up with an innovation that can make cryptocurrencies to be spendable anytime anywhere exactly like fiat currencies.
TenX blockchain aims to make cryptocurrencies easily spendable anytime, anywhere at an instant in the world. TenX combines digital wallet and physical debit or prepaid card built on a blockchain payment processor comit network for making cryptocurrencies generally spendable.
TenX is a Singapore-based blockchain company that makes cryptocurrencies instantly spendable anytime anywhere. It gives people an opportunity to conveniently use their digital assets in everyday life with ease. source
Tenx blockchain owns a native token TenX (PAY) ranking number 92 in Coinmarketcap. TenX takes fees from cardholders for various transactions they do. In simple words, they are selling Debit Card services for crypto.
TenX Brief History
TenX was previously known as OneBit because then TenX only focused on mother of cryptocurrencies "Bitcoin". TenX was founded in the year 2015 by dedicated team members having good visions for blockchain and cryptocurrencies with the aim that cryptocurrencies will replace fiat currencies in the near future. TenX was founded to be generally adoptable, usable around the globe.
In the year 2015, the giant payment processor PayPal saw the vision of OneBit and ventured into it for continual growth by supporting it with funds. Soon after that, OneBit rebranded its name from One-Bit to TenX.
A name inspired by not wanting to grow “one-bit” at a time anymore, but rather by “10x”—meaning ten times as much, covering the whole range of crypto space. source
As the story continues, during the year 2017, on the 24th of June, 2017, TenX completed one of the greatest and most rapidly funded initial token sales in crypto history, having sold around 100 million PAY tokens and received $80 million worth of cryptocurrencies within 7 minutes.
TenX is one of the few companies which has conducted a token sale while having a working product and an existing global user base. TenX has set the standard for a well-executed token sale. During the token sale, we accepted one of the most diverse ranges of coins and tokens any company has ever accepted, with Bitcoin, Ether, Litecoin, Dash and 18 different ERC20s. source
The TenX wallet is available on most used mobile devices Android and iOS which can be funded with different cryptocurrencies and TenX Debit or Prepaid Card which can be used in almost 200 countries at over 42 million points of acceptance online and offline upon its launch. TenX offers its users a convenient and secure access to several cryptocurrencies.
This TenX multi-currency wallet currently supports Bitcoin (BTC), Litcoin (LTC) and Etherium (ETH) but will soon include more cryptocurrencies and tokens in the future.
As well as the other innovations of TenX the charging stucture is also very attractive.
TenX offers the best and straightforward charges to their customers. The charges are listed below;
- TenX has no transaction fees or foreign exchange fees on wallet transactions.
- TenX charges one-time issuing fee of $15 for the physical card.
- TenX charges one-time issuing fee of $1.50 for a digital card.
- TenX charges no annual fee to use the card only when you spend less than $1000 in a year then you’ll be charged $10.
Fees will be deducted from the cryptocurrency stored in your TenX app wallet.
Holding TenX PAY Tokens
Holding TenX (PAY) token could lead to huge profits when the price increases.
TenX rewards people who hold TenX PAY token with 0.5% of all the total transactions consumed monthly with ETH. Increase in transactions and volume of TenX services could lead to hourly payouts from monthly payouts.
Additionally, token holders receive 0.1% cash back rewards in the form of PAY token.
0.5% of all aggregate transaction volume is paid out monthly to PAY holders. source
Do I have to store my PAY tokens in the TenX wallet?
It doesn't matter where you hold your PAY tokens, be it in TenX wallet or ERC20-enabled wallets makes no difference. Holding your PAY tokens in your TenX wallet does not give additional benefit beyond making your tokens spendable anywhere via TenX card.
TenX rewards you with 0.1% each time you transact or use TenX card. TenX rewards are paid using PAY token which can be used to pay fees or sold to open markets.
- TenX offers high security to protect your funds.
- With TenX you can host multiple assets in one wallet.
- You can spend cryptocurrency anytime anywhere.
- You can shop with TenX card anywhere.
- You can withdraw your crypro asset to fiat easily at any atm 🏧 center with a charge of $2.75.
- TenX Card can be used in almost 200 countries at over 42 million points of acceptance online and offline upon its launch.
TenX Blockchain innovation increases liquidity and will lead to more adoption of cryptocurrencies as it makes it easy to spend cryptocurrencies without exchanges. With TenX you don't have to initiate any exchange to spend your crypto assets anymore. TenX brings the entire financial system right to your fingertips. TenX have done their best to improve the usage of cryptocurrencies.
DisclaimerThe information contained in this post shall not be taken as financial advice. I am not a financial advisor and none of your investments should be carried out based on the information presented here. You can lose all your money by investing. The following information is for educational and entertainment purposes only.
TenX Official Web Links
- Project Website 🌎
- Products & Services: Wallet 💼 and Card 💳
Wallet App: Android 📱 or iOS📱
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- TenX Story 🗣
- TenX Official Chat 🗨
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