What is Everex (EVX)?
Future of EVX Cryptocurrency and know how to buy EVX

#1 – What is Everex?

Everex – The Basics

Transferring money across international borders is still a difficult task. Additionally, it takes a lot of time and expense to get it done.

  1. Everex is a peer to peer payment platform with the aim of resolving this issue. It offers cross border transactions along with micro-financing through a blockchain network.
  2. The company’s entire functioning is aimed at creating a fast, transparent, costless and secure system for easy cross-border payments. Its chief objective is to improve the current payment methodology with its numerous products like Chainy, Cryptocash, Ethplorer, and Everex Wallet.

Everex Development

  1. Everex was founded by Alexi Lane, a fintech entrepreneur and investor with an experience of 15+ years in the capital market.
  2. Lane has also worked for 2 years in the field of blockchain development and financial services.
  3. Morgan Stanley, with 15 years in capital markets and the finance industry, co founded the company with Lane.

 

#2 – What are the benefits of Everex?

Everex Technology

  1. Everex’s technology is established in three of its working products, namely Ethplorer, Wallet, and Chainy. Ethplorer is an Ethereum token explorer with an open API. Everex’s wallet allows the users to purchase, store, transfer, and convert fiat currency via its blockchain network. Chainy is an open source and immutable document management smart contract based on Ethereum.
  2. At the core of its technological setup is its currency tokenisation technology. Everex digitizes local currencies into eFiat, acting as a bridge between fiat currency and cryptos. eFiat is powered by smart contracts that remove the volatility attached to cryptocurrencies.
  3. Everex works with Cryptocash, a reserved stablecoin with every unit attached to a fiat currency. Users have the facility to convert their paper money into digital Cryptocash at their local banks and use them via mobile and desktop wallets on a P2P network. This cryptocurrency enables Everex to provide microlending services without the volatility of traditional cryptos.
  4. The platforms functions with a Service-Oriented Architecture (SOA). this architecture comprises of two parts: the Everex-System package and Blockchain package. These packages address separate concerns between external blockchains and the capital transfer system.

Corporate Usage

  1. The time taken by banks to process international transactions hampers the working of small and medium-sized enterprises (SMEs). A blockchain network, on the other hand, processes these payments instantly. Transactions over the blockchain are secure while attracting minimal transaction fees.
  2. Everex’s financial technology solutions can benefit SMEs in terms of work efficiency and accessibility. It can help them make a mark in the global competitive market.

 

#3 – How to buy and store Everex?

Everex’s token EVX is used as its internal reward system for the users and developers comprising the Everex ecosystem. Functions like membership, credit scores, and inventive mechanism are available only through EVX tokens. It is also utilized in the company’s governance for the capital-transfer system.

How to buy Everex?

EVX tokens are available for purchase on cryptocurrency exchanges like Binance, HitBTC, KuCoin. It is an ERC20 token and can be bought via any Ethereum wallet.

  1. CoinSwitch, as the largest cryptocurrency conversion platform, offers you to exchange your cryptos for Everex. You have the option to go through over 45,000 pairs of crypto exchange to choose your preferred one.
  2. What’s more - with CoinSwitch, you do not rely on a separate wallet from the exchange to store your EVX cryptocurrency. Instead, all transactions happen to and from your own personal private wallets.

Storage

You can store the EVX tokens in any Ethereum wallet such as MyEtherWallet, Mist, etc. You have to first download the wallet and finish its setup. Hardware wallets also offer a secure means of storage for EVX tokens. Ledger Nano S and Trezor are some hardware wallets you can buy.

 

#4 – What is the future of Everex?

  1. In the 2 years of its foundation, Everex has launched several key products to reach its goals. Crypto-cash is a focal strategic point currently, an Ethereum based network which is attached to the fiat currency. Through this platform, the company aims to reduce the speed of international money transfers from days to seconds.
  2. In the future, Everex plans to utilize 25% of its funds to create the micro-lending platform. It will use auto credit-scoring and KYC features to create fast approvals for lending.
  3. Furthermore, the capital raised will be dedicated to the development of technology and marketing awareness for the P2P market. This market expansion phase is underway with Everex seeking business growth opportunities around Europe, US, India, China, and South Africa.
  4. Product Portfolio expansion in another key point in Everex’s roadmap. It plans to launch its products for the following services:

- Crowd Lending

- Crowd Insurance

- Cryptocash Crowdfunding

- Blockchain B2B Consulting

Also Read: Complete Analysis of Everex | Live Everex (EVX) Price Charts And Predictions

Price History

Date

Open

High

Low

Close

Volume

Market Cap

July 01, 2018

0.597413

0.728882

0.582224

0.600618

799,083

9,857,320

June 01, 2018

1.08

1.10

1.06

1.08

740,944

17,839,000

May 01, 2018

1.79

1.79

1.61

1.75

1,620,640

29,539,000

Mar 01, 2018

2.25

2.42

2.22

2.28

3,083,130

37,070,200

Dec 01, 2017

1.29

1.52

1.28

1.49

3,192,080

21,285,200

Nov 01, 2017

1.59

1.63

1.20

1.22

1,407,930

26,229,000

 

#5 – How is Everex different from other cryptos?

One of Everex’s biggest competitors today is OmiseGo. Both of these platforms are remedying the situation of the unbanked individuals. Omise GO is, however, a rather B2B platform without the micro lending facility.

  1. Everex is one of its kind platform and the first completely transparent microfinance system in the market. Its chief focus is on increasing the use of mobile phones for banking and utilizing this data for its own financial system.
  2. It is unique in its combination of blockchain technology and machine learning software to create affordable financial facilities for users around the world.
  3. Users’ financial and personal data are collected and analysed through Everex’s blockchain network for credit scoring and lending terms. It has a comprehensive service-oriented architecture that processes every transaction via several components of its network.
  4. It works with a blockchain based P2P network and a micro lending platform for its smart contract-enabled wallet. Its use of fiat-pegged Cryptocash offers better stability for cryptocurrency usage.

 

#6 – Should you invest in Everex?

  1. Everex seems to be emerging as a good long-term investment in the retail fintech market. Its roadmap concerning penetration in the P2P market and commercialization can significantly increase its user base.
  2. Its market success can witness a high boost with a partnership with a major financial advisory firm or a retail database company.
  3. A genuine need for Everex’s products to improve the global payment system today makes it all the more important.
  4. Its current price of $0.652186 could potentially rise to $3.61 with a profit percentage of +453.5%, according to multiple analysts online such as Cointobuy.
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