I personally really believe in the concept of TenX.
I suggest you to take a good look at TenX and leave your thoughts right here.
Do you think PAY will go to the moon?
The website, their vision (making cryptocurrencies spendable anytime anywhere), their upcoming plans…
Also the co-founder is very interactive with his community.
I got very excited after seeing this interview with the TenX Co-founder.If you have some time to spare, definately check it out.
As cryptos go more mainstream, I think the public will like the ease of holding cryptos in a TenX wallet and then exchanging for fiat at point of purchase. Using all Visa or Mastercard merchants makes the card seem familiar and easy to use and transition to for crypto newbies. Also the card can be used to withdraw cash instantly at an ATM from your cryptos - very nice!
The card is live and coming to the U.S. soon!
Even bigger than the price appreciation possibilities of PAY token I think is the .5% reward distribution to token holders based on total card purchases- simply by holding PAY tokens in a private wallet. Debit card purchases is a huge potential market and over time if TenX user purchases can capture a fraction of the market the passive income stream could be significant, year after year! Also no more tokens will be made, it is limited to 205,218,255.
Alot of these coins are built on solid ideas and great vision… but being able to execute those cant be taken for granted. Can they actually bring it to market and execute that vision… if so:
-Will they be first?
-Will they be best?
-will they be cheapest?
Alot to factor in. It looks viable for sure. Still going through the white papers. but these are considerations for this and all investments… crypto or otherwise
If they can deliver and roll out the cards in the u.s. in the 4th quarter
and get on chinese trading sites soon, then it’s going up for sure.
TenX isn’t the first or the only one to do what they are doing. There’s also Monaco and TokenCard. As I stated before I put a certain amount of trust in the leadership behind a project and this is where Hosp really got me. He mentioned the competition in his interview explicitly and made a very good point: Competition is good. It spurs innovation and drives the market. You saw this over the weekend. When TenX started rising, so did Monaco and TokenCard.
I think the underlying technology of the Comit network is really what separates TenX . If a user can pay with the card regardless of the actual currency he is currently holding it greatly reduces the barrier for entry, as it becomes irrelevant what currency the vendor accepts, be it PAY, ETH, BTC or Fiat.
Tenx weighing the pros and cons:
Pros:
It has a working product, working app and about to release its IOS version. Works anywhere that accepts credit card. Its already released several cards.
It has responsive customer support. You can get in touch with the tenx team on their slack community if u have any problems concerning your card. There is always someone from Tenx team that’s always willing to answer your questions and the community seems good for now. One of the most responsive team i have seen out there.
It’s a unique debit card allowing a variety of cryptos to be change from crypto to fiat using a 3rd party exchange working with visa. The unique thing about Tenx is that it allows alot of the cryptos to be change to fiat in real time price. (I have seen a person on youtube bought starbucks with steemit tokens). this is a quote straight from one of tenx team from slack channel. “currently BTC, ETH. DASH + ERC20. Coming soon more will be added based on trading volume/popularity in the coming months”
one of its strength comes from how it markets it’s product. So far their CEO Julian is doing an amazing job using social media like a boss with live Q & A often on FB, youtube, slackchannel, twitter, medium, interviews and etc. Julian is chrismatic and knows how to talk and promote its product unlike alot of projects out their where they have weak marketing strategy or lacking a really good PR person. Tenx marketing is aggressive and reminds me of DASH in its early days trying to promote its stuff.
It has growing team of devs and other staffs such as customer support and etc. and is still hiring some more at the moment. started of with a team of 10 but they have 20 now and hiring some more.
is in the works of opensource Comit network where it is creating a blockchain where it eliminates 3rd party exchange which i have stated before.
if successful this is a huge game changer in Cryptoworld allowing cryptocurrencies to have intrinsic value and more freedom.
Tenx token is POS and an ERC 20 token which gives dividends based on how much transactions are made around the globe with tenx debit card. so the holder of Tenx tokens will generate more Tenx tokens when there are more transactions made in globally with Tenx debit card. But there is a problem to it which i will discuss on the cons.
Now i will state the cons:
The project itself is super ambitious and hard to say if they can really pull it off. Comit network sounds great and all which all depends how talented to the devs are. So far I don’t know how good their dev team is.
Tenx is an ERC 20 token which means that it’s working on ETH platform which is polluted with ICOs which may or may not have potential (many will likely fail). ETH platform is still in its alpha stage with alot of security flaws. we already have hacks such as DAO which was also an ERC 20 token causing a huge crash in the market. Anything bad happening to ETH can also take Tenx with it too. We already saw the parity wallet hack. What more is there to come?
Tenx product is new like any other projects out there. Just becoz it has not being hacked right now does not mean it could not be hacked in the future. Bugs may appear in the future and security flaws may be discovered.
Tenx has its competitors and so far it is ahead of its game with a working product but that does not mean it will stay ahead always. If any other company or project does better than tenx, it can fall apart or be left behind.
We can’t tell how stable tenx platform is. So far right now Tenx is restricting its release on their cards since they worry about how much transactions its platform could handle. At least they were honest about it. You can find out about it in boxmining interview with Tenx on youtube.
Overcoming government and lawmakers is going to be a challenge. So far Tenx is trying to earn it’s way to get a banking license which is not going to be easy. There will also be some chaos concerning tax policies and dealing with government institutions since it is trying to exchange Crypto to fiat.
It is restricted in US and Singapore for now but due to be released after 90 days from their ICO sales date.
In summary it is a very good coin to hodl but ofcourse its hard to see the future. So far it has being completing their objectives but future milestones seems really big and hard to say what would happen. I would like to believe in Tenx so that we can all benefit in crypto. If i have any information wrong please correct me for i am only human.
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