TokenPay – TOR Integrated-Payment Privacy For Cryptocurrency?

TokenPay describes itself as “the world’s most secure coin”. Find out how it works today in our review.

What is TokenPay?

TokenPay is a decentralized, self-verifying payment protocol. The protocol can only be accessed through the Tor Browser. The coin aims to be one of the most secure cryptocurrencies in existence.

Like other cryptocurrencies, TokenPay’s key goal is to enable secure transactions between multiple parties. For maximum privacy, transactions are conducted with TokenPay’s own proprietary and untraceable digital asset called TPAY – this is the token used by the TokenPay protocol.

Some of the key features and benefits of the TPAY token include a stealth addressing system, encrypted messaging, anonymous trading, and a uniquely designed hashing algorithm. Together, these allow for fast and secure transactions across the internet.

However, TokenPay doesn’t just want to create a new and improved version of privacy-centric cryptocurrencies like Monero. The developers want to create an easier, more private way to transfer cryptocurrency into real assets. They want to create a bank for this purpose.

How Do TPAY Tokens Work?

TPAY rely on core technologies and features like all of the following:

Multi-Signature Support:

Shared wallets, multiple users, and 2/3 key unlocking are all supported by the TokenPay protocol. Standard transactions on the TokenPay network can be called “single signature transactions” because they just require a single signature. However, in transactions involving multiple people from shared accounts, multi-signature transactions can be used.

Ring Signature:

Ring signatures are used to sign and verify transactions. In cryptography, a ring signature is a type of digital signature that can be performed by any member of a group of users who all have keys. That means a message signed with a ring signature is endorsed by someone in a particular group of people. One of the anonymizing benefits of ring signatures is that it’s impossible to determine which of the group members’ keys were used to produce the signature.

Tor Support:

You interact with TokenPay over the Tor browser. Tor is a distributed overlay network designed to anonymize low latency TCP-based applications (like web browsers and instant messengers).

Dual Key Stealth Addresses:

This prevents the buyer and seller from revealing data about themselves. Dual key stealth addresses are different from the standard addresses commonly used in cryptocurrencies. A dual key stealth address can be shared publicly by the recipient, yet any transaction made to the address cannot be linked back to it.

Zero Knowledge Proof:

The blockchain proves the identity of both parties without having the parties prove themselves to each other (unless they choose to do so). In other words, one party (the prover) can prove to another party (the verifier) that a given statement is true without conveying any information aside from the fact that the statement is true.

TokenPay Secure Communication Interface (SCI):

TokenPay has incorporated a peer-to-peer encrypted instant messaging system using algorithms to maintain private conversations when using TokenPay wallets.

The entire platform is built on the bitcoin protocol. TokenPay has added additional security and privacy features not included in the original bitcoin blockchain source code. The TokenPay whitepaper describes that “TPAY is bitcoin on steroids” because it’s “infinitely more secure and anonymous.

The TokenPay Bank

TokenPay doesn’t just want to build a cryptocurrency: they also want to build a real bank.

The ultimate goal of TokenPay is to give clients the ability to facilitate ordinary cryptocurrency to hard asset transactions with ease. With that goal in mind, TokenPay is in negotiations to open its own bank. The team is either going to form a new bank charter, acquire a bank, or partner with a 20+ year old bank. The TokenPay bank will be created in an attractive, privacy-driven jurisdiction.

One such jurisdiction is Vanuatu. TokenPay plans to operate their bank in Hong Kong dollars (which are pegged to the USD).

Why does TokenPay want to acquire a bank? They mention features like a widely accepted debit card (usable on the VISA and MasterCard networks), multi-currency transactions, privacy-focused jurisdiction, and international wire capabilities, among other benefits.

TokenPay has already announced some key features of its first debit card, called the Blue Diamond Card.

How Does the TokenPay Blue Diamond Card Work?

The TokenPay whitepaper already mentions basic details of the TokenPay Blue Diamond card. Key features include:

  • $15 physical card issuing fee
  • Free virtual card
  • No annual fee ($10 annual fee on the physical card if you spend less than $1,000)
  • Free domestic and foreign exchange fees
  • 0% fees on ATM withdrawals in domestic currency
  • $3 ATM withdrawal in foreign currencies
  • $5 card shipping (standard) or $70 expedited shipping

Overall, TokenPay wants to create a card that provides global bank and ATM access, real-time conversions, multi-currency support, and low fees. You’ll be able to spend it at online and offline merchants anywhere traditional cards – like VISA and MasterCard – are accepted.

The TokenPay Token Sale

The TokenPay token sale for TPAY coins started on December 7, 2017 and lasts until January 17, 2018. Bonuses and referrals are available throughout the token sale.

Of the total supply of 25 million TPAY tokens, 14,250,000 are allocated for the token sale. The remaining tokens are allocated to block rewards (6,250,000 at 5% APR via proof of stake), founders (2.5 million), team and developers (1.25 million), and marketing, bounties, and advisors (750,000).

No more TPAY tokens will be created beyond the initial 25 million. You can buy TPAY tokens at a rate of 1 BTC = 2,000 TPAY.

Who’s Behind TokenPay?

TokenPay is led by Derek Capo (CEO), a former hedge fund analyst who most recently served as VP of International at RoboTerra. Other key members of the team include Carlos Salazar (CTO), a cyber security expert, Joseph Pacetti, CPA, a compliance expert, and John Singh, MBA (CMO), a marketing and business specialist.

TokenPay Conclusion

TokenPay aims to create an ultra-secure cryptocurrency built on the original bitcoin blockchain, but with enhanced privacy features. TokenPay doesn’t just want to launch their TPAY cryptocurrency, however: they also want to launch a bank and offer a physical/virtual card where you can spend your TPAY balance.

To learn more about TokenPay, visit online today at The company’s ICO is underway until January 2018.

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