More

    TenX – Blockchain Payment Platform & Comit Network Token Sale?

    TenX is a cryptocurrency platform that recently completed its presale. Find out everything you need to know about TenX today in our review.

    What is TenX?

    TenX, found online at TenX.com, is a cryptocurrency payment platform that consists of a wallet, physical debit card, bank account, ATM access, and more. Overall, the company wants to introduce products that make it easier for you to use your cryptocurrencies in the “real world”.

    In the words of TenX’s official website,

    “The platform connects assets and businesses on blockchains to the real-world in a decentralized manner. Developers can develop security smart contract modules, businesses can connect their users and usecase to real-world payments.”

    On June 14, TenX reached the target of its PAY token presale. They reached their funding goal of 100,000 ETH (around $39 million USD) in under 36 hours. The company is holding its TenX sale for the general public on June 24. Early investors in that sale will receive the same 20% bonus as they did in the presale.

    TenX is built on the Comit Network, the frictionless payments platform that could bring us a world with no financial transaction fees.

    How Does TenX Work?

    The main advantage of TenX is that it offers free spending and exchange fees. That’s a 0% fee. However, you’ll need to pay fees for physical and virtual cards, and there are spending limits in place. We’ll talk more about TenX’s fees down below.

    To access the TenX platform, you’ll need to download the TenX wallet, which is available as a mobile app from the Play Store, or as desktop software from TenX.tech.

    The TenX platform and the wallet supports blockchain assets across multiple blockchains. It supports Bitcoin, Ethereum, and DASH, for example, along with Ethereum ERC20 tokens. The company plans to add many more cryptocurrencies in the future.

    Another key feature of the TenX platform is its decentralized security, which is based on smart contracts. You are a holder of the DSS key and you’re in full control of your funds. You can fine tune your security settings at any time with the smart contracts. You can adjust security settings for daily limits, portfolio spending, withdrawal settings, and more, for example.

    Once you’ve setup the payment platform and wallet, you can start interacting with real-world products and services. TenX relies on the Comit Network for these services.

    What is the Comit Network?

    The Comit Network, found online at Comit.network, is a cryptographically secure off-chain multi-asset instant transaction network.

    I won’t get much into the technical details of the Comit Network here, but you can read their whitepaper here. Essentially, it’s a payment platform that “can provide the same final and elegant solution as the internet did for information”. It promises to provide frictionless, cheap payments for users all over the world, including true global access without limitations to any asset or business process connected to the blockchain.

    TenX relies on this seamless payment platform for its network. The TenX payment platform (including the debit cards, ATM, bank accounts, and wallet) interacts with the Comit Network to provide ETFs, exchange services, lending solutions, and security.

    TenX is actually built on the Comit Network.

    TenX PAY Tokens

    Why hold TenX’s PAY tokens? The tokens have the potential to be a big moneymaker for token holders: for every transaction, the token holder receives a reward in the form of ETH. 0.5% of the transaction goes to TenX token holders. Additionally, token holders receive 0.1% cash back rewards in the form of PAY.

    TenX Fees

    TenX offers a surprisingly straightforward fee structure. Here’s how much you’ll pay for the various TenX services:

    • Physical Card Issuing Fee (Covers Shipping and Tracking): $15
    • Virtual Card Issuing Fee: $1.50
    • Physical Card Annual Fee: Free (or $10 if you spend less than $1,000 a year)
    • Virtual Card Annual Fee: Free (or $10 if you spend less than $1,000 a year)
    • Foreign Exchange Fee: 0%

    There are certain limits to your spending. Standard accounts are limited to 200 EUR per ATM withdrawal and a daily spending limit of 2500 EUR per day. However, upgraded accounts can spend up to 10,000 EUR per transaction, 20,000 EUR per day, and 1,000 EUR per ATM withdrawal.

    Who’s Behind TenX?

    TenX was created by a team that includes Toby Hoenisch (Co-Founder and CEO), Michael Sperk (Co-Founder and CTO), Paul Kitti (Co-Founder and COO), and Julian Hosp (Co-Founder and CVO).

    The company has received investments from Fenbushi Capital and ICH.

    TenX has headquarters in Singapore and in London.

    TenX Conclusion

    TenX is a payment platform built on top of the Comit Network. The payment platform gets rid of most fees associated with international banking and transfers. The company will offer a physical card and a virtual card that lets you interact with products and services in the real-world.

    TenX just completed its presale, during which it raised $39 million USD in only 36 hours. That was the presale. The full ICO is occurring on June 24.

    Obviously, TenX is generating enormous attention in the blockchain community and has received the support of industry giants like Vitalik Buterin (creator of Ethereum). Stay tuned for more information about this payment platform as it continues to grow.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,368FansLike
    2,785FollowersFollow
    4,136FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Binance CEO: Once QE Money Starts Flowing, BTC's Price Will Go Up ‘Very Dramatically'

    “Since coronavirus took over, business-wise the platform is doing really well” - CZ COVID-19, QEg, depression, and countries printing a lot of money...

    South Korean Central Bank to Roll Out Pilot Program to Test CBDC Through Dec 2021

    On April 6, South Korea’s central bank has made the announcement that it started a pilot program for assessing the logistics of a central...

    Former Goldman Sachs Fund Manager Suggests Allocating 25% in Bitcoin

    When Raoul Pal, the former hedge-fund manager who founded Real Vision first learned the coronavirus was spreading rapidly, he thought, “The whole world's f---ed,”. "I...

    PwC Report Reveals 2019's Crypto M&A's Dropped Sharply; Total Value Decreased By 76%

    The 2017 market boom led to the new era of funding in the decentralized space called ICO, however as we entered the bear market...

    How Much New Inflow Bitcoin Needs to Stay at this Price Level?

    For the last 2.5 years, $400 million of new investment each month kept BTC price at $7,000, after halving it would require just...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.