What is TenX (PAY)?
Future of PAY Cryptocurrency and know how to buy PAY

#1 - What is TenX (PAY)?

TenX: The Basics

  1. TenX is a payment platform that facilitates digital and physical modes of transaction for cryptocurrencies to any merchant, even if they don’t accept cryptocurrencies. Physical and digital modes of course, include bank accounts, wallets, debit cards, cash and much more.
  2. The primary agenda of the company is to make it easier and faster to use cryptocurrency and accelerate adoption for the industry.
  3. The TenX blockchain supports the PAY token, which is the fuel that runs the network and is the cryptocurrency using which transactions on the network are made.

TenX Development

  1. TenX came into existence in 2011 and was created by Toby Hoenisch. While at the university, he took a keen interest in cryptography though he believed that there was no success for cryptocurrencies.
  2. In 2012, Toby started trading Bitcoin when he got to know a member of bitcoin-community who was not able to open an account in bank and used TenX crypto currency instead.
  3. Toby Hoenisch and Michael Sperk started a one-bit start up in 2015 and introduced us to a debit card, through which payments with bitcoin could be done.

2016 and 2017 were bright years for TenX as it got legal support from PayPal.

 

#2 - PAY Benefits

TenX Technology

  1. TenX is based on a network known as COMIT (Cryptographically-secure Off-chain Multi-asset Instant Transaction).
  2. Using the COMIT Routing Protocol (CPR), an existing blockchain can connect to a new blockchain. This concept is similar to the internet, where it is connected across the world through the IP/TCP protocol.
  3. The COMIT networks allows you to change assets from one to another instantly for nearly zero transaction fees.
  4. A COMIT transaction takes place between 2 COMIT connected networks: the user has to have a payment mode connected to the COMIT network and the business where the user wants to invest should also be on the COMIT network.
  5. The transaction is further passed to Liquidity Providers (LPs), who provides funds to the change of currencies. Liquidity provider basically provides ease to the flow of transaction and figure out which LP has the best exchange rate.

TenX transaction

  1. The company has developed a TenX wallet (or PAY wallet) for different platforms such as iOS, Android and the web. It currently supports Bitcoin transactions, but will soon support different tokens as well.
  2. Payments can be done through both physical and digital mode. Until the time of transaction, the currency the assets remain as crypto holdings.
  3. With the help of Decentralized Security Smart Contracts (DSS) you can set rules on spending the card and can have a control over funds.

Features

  1. Easy of access: The TenX goal is design a mobile wallet for the active Bitcoin user. The wallet can be accessed by both Android and iOS and the web. The TenX wallet is a visa prepaid card which can be used wherever visa is accepted. The payment platform connects user and business seamlessly without them having to worry how the payment will be made.
  2. Decentralized: A decentralized security system (DSS) can help in setting rules according to users needs and will further control funds. Purchase limits, withdrawal limits and more can be controlled. Changes can be done in setting anytime as per the needs. Setting of range can be done on different coins.
  3. Transparency: With TenX, the company says “you get what you see”. There is no complication in fee or other parameters. It is used just like a local currency.

 

#3 - How to buy & Store TenX

How to buy TenX

Since the TenX ICO has concluded, investors can buy the PAY cryptocurrency from the open market i.e whichever exchange supports PAY coin trading. These include KuCoin, Cryptopia, OKEx, and more.

If you want to get the best deal for buying or selling PAY tokens, check out CoinSwitch - the largest cryptocurrency conversion platform. It allows users to compare real time prices of PAY tokens on multiple exchanges and choose the best rates. It also supports more than 45,000 cryptocurrency pairs.

How to store PAY

Since the PAY coin is an ERC20 type, any Ethereum supporting wallet should work perfectly fine as a PAY wallet. These include the hardware Ledger and Trezor wallets, in addition to the hugely popular MyEtherWallet. TenX also has its own wallets on offer which can be downloaded from its website for both Android & iOS.

 

#4 - What is the future of TenX?

Also Read: Complete Analysis of TenX | Live TenX (PAY) Price Charts And Predictions

  1. The TenX cryptocurrency has had a pretty volatile life on the markets, opening for trade at $1.18 in July 2017, before quickly diving to half that value at $0.56 in the same month.
  2. However, it was quick to rebound and eventually peaked at $5.3 by August 2017.
  3. As of June 2018, it trades in the $0.6-0.8 range, with a market capitsalition of nearly $60 million distributed over 109 million tokens, out of a total supply capped at 205,218,256 tokens.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Jun 01, 2018

0.930243

0.945646

0.904013

0.913146

6,332,880

101,440,000

Mar 01, 2018

1.48

1.86

1.48

1.65

8,846,680

155,126,000

Jan 01, 2018

4.05

4.15

3.74

4.03

16,548,300

423,356,000

Oct 01, 2017

2.70

2.80

2.57

2.73

3,566,410

282,157,000

Aug 01, 2017

0.886312

0.976305

0.854581

0.948275

1,974,540

92,762,600

Support & Long Term Vision

  1. The goal at TenX (PAY) seems to be to link each and every cryptocurrency to one account, giving users the option to choose which currency they want to spend via a debit card or mobile app.
  2. The company has come up with solid looking technical plans and a good business outlook.
  3. They already have support from PayPal, and from the employees at Citibank.
  4. The concept of this is unique - and primed to assist cryptocurrency adoption, since different currencies can easily be accessed by a single app or card for the users.

 

#5- How is TenX(PAY) different from different cryptocurrencies?

  1. Rather than standing out as yet another cryptocurrency for its users, TenX is bridging the gap between other cryptocurrencies in the industry by allowing users to use cryptocurrencies directly for transactions.
  2. Unlike other cryptocurrencies, TenX pay allows you to buy a $15 ‘Debit’ card or a smartphone application, which allows you to use your bitcoins for transactions in the day to day life.
  3. In this manner, you can settle your bills directly with your choice of cryptocurrency, and once you pay to the merchant, these transactions will immediately be settled with TenX.
  4. TenX is fairly compatible with day-to-day life for consumers, and is making it easier for the general public to not only familiarize themselves with the concept of TenX pay and other cryptocurrencies, but is also making it easier for them to use these cryptocurrencies as a means of currency. I
  5. It works just like a Visa or MasterCard card, except that its transaction fee is very nominal.

 

#6- Should you invest in TenX?

  1. Cryptocurrency adoption is a longstanding problem - with most cryptocurrencies remaining relegated to the realms of hype and not seeing real-world usage, not as much as the enthusiasts would like, at least.
  2. This is an important problem being solved by the TenX coin, which seeks to make it easy for the end user to use cryptocurrencies by removing the hurdles associated with keeping different wallets and using them separately.
  3. From an investor standpoint, this can be seen as disruptive, which is why the TenX cryptocurrency may have already accumulated over $58 million in market capitalization as of June 2018.
  4. As with all other investments, it is wise to do your own research, but seeing that TenX seems to be solving unique problems, it may certainly be worth a look.
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