FXPay (FXP) is a decentralized cryptocurrency token issued by FXPay Inc. FXP is a registered ERC20 token based on Ethereum blockchain technology. The FXP token utilizes smart contracts to ensure investment security and token management. Below is the list of terminology that you may come across while reading this article
● FXP - token issued by FXPay inc.
● FXPay - the creators of FXP
● ERC20 - token issued and run on the Ethereum blockchain
● Liquidity Provider [LP] - a bank or similar institution that provides Forex to brokers
● Premium Broker - another term for liquidity providers
● Broker - an intermediary that acts on behalf of a trader to execute Forex transactions
● Trader - an individual that participates in the Forex market
WHAT’S FOREX?
Forex is short for foreign exchange and no matter where you are in the world, the foreign exchange will affect you. The foreign exchange (Forex) market is a global decentralised market for the trading of currencies and determines the foreign exchange rate. It includes all aspects of buying selling and exchanging currencies at current or determined prices. Through this market, different currencies are continuously exchanged by millions of people. Unlike the stock market, there is no central marketplace for foreign exchange. Instead,
currency trading is taking place electronically over the counter, which means all transactions occur via computer networks between traders around the world rather than through one centralized exchange. The need for adaptable currency is what makes Forex the largest and most liquid financial market in the world.
WHY FXP?
FXP is a gateway solution which will unify the Ecosystem and Forex industry based on the blockchain technology.
Solution Offered By FXPay
By introducing blockchain technology to the Forex market, FXPay is able to address inefficiencies in the market that, until now, have not had a solution. By offering a digital currency to brokers and traders, FXPay provides a medium through which to effortlessly convert fiat currency into FXP tokens.
Once it is securely logged on the blockchain, it can be converted into any of FXPay Forex pairs. Traders can then use Forex credit to participate in the market. Once trading has ceased, traders can trade Forex credit back into FXP or any other digital currency. Alternatively, traders can choose to keep Forex credit, which can either be used to continue trading at a later stage, or withdrawn into fiat currency through the Forex trading platform, at minimal cost.
TRADER BENEFIT
Crypto / forex trader can enjoy various benefits from holding Fxp coins.
● FXP increases its value Everyone in FXP eco-system will exchange to FXP to get more profit and cheaper transactions .This also creates a vast cash flow that will go in to the exchange and it will be one of the strong factors to build the FXP foundation and make the price rise steadily.
BROKER BENEFIT
Brokers can enjoy the following benefits
● By transferring the money to LP or banks, FXP will act as a payment gateway but most importantly, we give discounts to brokers.
● By purchase/store of FXP, Brokers can easily buy FXP at a discount price then distribute to their traders or in house exchange .FXP is an optimal marketing tool to get more customers for the brokers.
TOKEN DETAILS
So if you are ready to be a part of something special, join FXPay in the digital revolution of forex trading here
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