As we’re progressing with our token sale campaign, we’re getting more and more followers. This leads to interesting discussions and sharing of opinions. It’s really great to read insightful comments, to answer non-trivial questions and challenges.
This article is about essentials of our payment system - USDX Wallet app. What are its features? Who can use it? What problems does it solve?
What problems - or “pains” - we’re addressing?
There are several issues which make existing cryptocurrencies rather “unusable”: low transaction speed, complicated wallet addresses leading to errors and typos, intolerance towards small transactions (fees surpasses the transaction sum), pseudo anonymity of Bitcoin (in fact, users can be traced), lack of handy apps and services to interact with blockchain. And of course, cryptos are volatile.
How we’re addressing these problems?
USDX Wallet is a secure payment solution with stable crypto assets. There are two cryptos: USDX token and LHT coin. Based on an exclusive Lighthouse Blockchain, LHT serves as a collateral for USDX. The app has the following features: intuitive interface (also easy for beginners), instant transactions (Lighthouse Blockchain can process 100,000 transactions/second), high-level security (2FA), privacy instead of anonymity, effortless payments, no fees for individuals, friendly usernames (easy to remember!).
Your main achievements?
First and foremost, we have an up-and-running product. Not an idea, not a project, not an MVP - we have a working solution, which everyone can download and test. Aside from that, we: completed seed round of fundraising in August 2017 and round A in May 2018; assembled a great team (entrepreneurs, financial and marketing professionals, developers).
Your plans?
We have to milestones to reach: 10,000 users by December 2018 and crypto exchange listing in January 2019. The app will become even more smoother and secure with implementation of TouchID and FaceID features.
Another wallet, another stablecoin? How do you differ?
The thing is, we don’t strive to become THE only ones. We’re actually pro-competition, because it stimulates the creation of mind blowing solutions and products. Yes, the competition is already tough in the industry, but not all of our competitors have working products (in fact, almost no one has), most of them are web-based and have fees even for individuals, some of them have a complex operation system making them to be like traditional banks.
We offer: a working product, an easy-to-use mobile wallet app, no fees for individuals, high-speed transactions, a system based on Graphene which brings proven stability, security and agility. We’re focusing on crypto transfers, while our competitors prioritize fiat into crypto conversions. Our payment solution is truly universal, everyone can use it - a crypto newbie or a pro crypto investor.
What about mobile banks? How do you differ?
In order to use mobile bank services, you have to open a bank account and to pay for its maintenance. Plus, all operations have fees and commissions. Maybe it’s not that difficult to open a bank account (although it very much depends on bank’s country), but what about unbanked people? Our system is fee-free and limitless for individuals.
So who are you targeting?
We have a multiple-step strategy. Currently, we’re targeting crypto owners who's looking for alternative options to store their digital assets and to increase their value. As the number of users will grow, we’ll implement various solutions, including the possibility of purchasing our cryptos for fiat.
What else is cool about USDX Wallet app?
We’re currently in token sale stage, that comes with 3 types of bonuses:
