Backed by a strong investor

Originally, the trio from Austria and Thailand did not start under the name TenX: As early as 2015 they had started their basic work under the name OnePay. Their idea at the time was to link a credit card with a Bitcoin Wallet, so that payments could be made anywhere. The founders took part in Fintech Singapore, a boot camp for startups. Just one year later, the makers had made it to the PayPal indicator in Singapore. Shanghai-based Fenbushi Capital, in which Ethereum founder Vitalik Buterin is a partner, had already invested one million US dollars in the young company in March 2017.

The four founders had also chosen the onlinebetrug company’s headquarters in Shanghai carefully

Hosp says so at onlinebetrug Trendingtopics: “In Austria, people are struggling with whether credit cards can be accepted everywhere at all. We didn’t want to discuss whether this would make sense, we needed it as a prerequisite for our product.”

That’s why they didn’t want to implement the idea of TenX in Europe under any circumstances. One had concentrated simply and movingly on the asiatic area, because in Japan and Australia crypto currencies are very much more widespread than in Europe.

This is how the Bitcoin code should work

It is sufficient for the customer to enter his e-mail address and account number in order for the Smartphone Wallet to be tailored to him. Once this has been done, the user can fill his wallet with a Bitcoin code digital currency. Because TenX uses the Bit-Go industry standard for data security, no unauthorized persons can access the private keys. Of course, the customer also needs a physical credit card. But he can order this very easily from the app.

As soon as the user has set up the wallet, he selects the desired crypto currency via the app and connects it to the card with a click. To ensure that TenX’s credit card is accepted in as many places as possible, the founders have entered into a partnership with MasterCard and Visa. Payments can then be processed in a matter of seconds via the COMIT network. A further advantage is that the digital currency is only converted into the respective national currency when paying. Until the credit card is used, the customer therefore has the option of selecting the currency that currently has the best exchange rate. He can therefore benefit from exchange rate fluctuations when paying with a card.

TenX credit card for digital currencies

The TenX team has a real chance to get crypto currencies out of their current niche and make them suitable for everyday use. The big advantage of the idea behind TenX is that it combines the advantages of conventional currencies with those of digital currencies. In addition, there is an extremely positive start in the token sale phase, so that there is sufficient scope for development in the first few years. This is probably due not least to the fact that the four founders have thought through their concept extremely well down to the last detail. For example, the Austrian-Thai quartet has come up with a transparent fee structure from which users, the company and investors benefit. In this way, they do not – like many other providers from the world of digital currencies – rely exclusively on price increases. Rather, they create a real financial basis which, if the TenX card is sufficiently accepted, can guarantee solid growth for the company.

The only risk factor is the question of whether the card is accepted to a sufficient degree. TenX must not only reach those users who are fans of crypto currencies anyway. The big difficulty is likely to be to reach other consumers who have always paid with conventional currencies and credit cards. Holders of Master or Visa cards may well ask themselves why they should use the TenX card in addition. The argument that card users can profit financially from price increases of crypto currencies is probably not sufficient in view of the massive price jumps in the past. However, TenX should be able to compensate for this shortcoming through good advertising and public relations work – at least as long as the young company remains as transparent in the future as it was in the past. Then the long-term success of TenX might not stand probably any more all too much in the way.

What is a Token Sale?

In principle, the Token Sale – also known as the ICO in the industry – is similar to crowdfunding. This means that anyone who wanted to buy TenX made a bet on the positive development of the company. TenX Coin, i.e. PAY, thus gains value, whereby the buyer profits from the future success of the company. TenX ranks among the ten largest ICOs in the first half of 2017.

These are the ten largest ICOs

The founders not only want to profit from the price increases, but have also included real revenue opportunities in their planning: TenX receives a small share of the turnover if the owner of a credit card pays with it. Of this revenue, 0.5 percent is distributed to the owners of the tokens. Customers who pay with their credit card are additionally rewarded with a bonus of 0.1 percent. However, it is not yet clear whether this idea will really be able to assert itself on the market. The success of the card is likely to depend largely on the TenX Whitepaper and the published TenX News. This is because the state regulatory authorities act in completely different ways.

Tezos with a volume of 208 million US dollars
IO with a volume of 200 million US dollars
Bancor with a volume of 153 million US dollars
Status with a volume of 95 million US dollars
TenX with a volume of 80 million US dollars
MobileGo with a volume of 53.3 million US dollars
SONM with a volume of 42 million US dollars
Basic Attention Token with a volume of 35 million US dollars
Civic with a volume of 33 million US dollars
Storj with a volume of 30 million US dollars

TenX credit card – countries react differently

While those responsible in some countries are extremely sceptical and act accordingly restrictively, the authorities in other countries are open-minded – and the rules are handled more loosely.

That’s why the token sale was limited

For a good reason, TenX did not keep the token sale open, but limited it. The reason: If the sale had been open, there would have been a great danger that many investors would massively enter the sale phase. At the official stock market launch, there might have been too few investors willing to invest in TenX. As soon as TenX is traded on the Altcoin stock exchange, this could have resulted in a massive fall in prices. On this page we have compared some crypto exchanges for you. And also the amount of the investment was limited to a maximum of five million euros. The founders of TenX wanted to prevent the pay tokens from concentrating on a few large investors. Rather, they were interested in offering as many investors as possible the opportunity to get involved.