About Pundi X
Pundi X is a decentralized project that aims to simplify crypto spending, to the point where you can use it as a credit card. The NPXS token developers aim to have Ethereum-based Point-of-Sale smart devices distributed to hundreds of retailers. The retailers will then be able to accept crypto payments in Pundi X tokens which in turn will let users buy goods and services with digital money. This system will incur lower transaction fees for retailers.
Does the project have potential?
The device was developed to be connected to the Ethereum blockchain with Xplugins via two layers. The communication layer will have the role of delivering the buy request while the other blockchain layer will record the sale transaction.
The platform enables small stores to interact with the blockchain. The platform’s design lets developers set their transaction fees depending on the country they reside.
The project intends to become the biggest crypto sales network in the world. By using POS devices, the firm hopes to make offline purchases with cryptocurrencies more common and accessible to consumers. Thus, Pundi X can further support crypto adoption by making the technology available to people that are not connected to the crypto space.
Pundi X Technology
Pundi X makes use of three interconnected pieces of technology: The Pundi X platform, mobile wallets, and card payments.
The unique Pundi X network integrates its devices into two blockchains – Ethereum and NEM. NEM and its coin XEM was selected for its collaborations with Asian financial institutions, as it can make payments almost instantaneously through its technology.
The Pundi X Card Payment System
The company developed its XPASS card, which is compatible with the mobile app and wallet, and lets you make payments and deposits by card that are taken from the mobile wallet.
Users are also able to view the current market price of each cryptocurrency before making the payments, allowing them to use the cryptocurrency that is most advantageous for them.
By being able to easily pay with cryptocurrencies is what will finally give them real value in a widespread sense. But the whitepaper states that most cryptocurrencies can only be used to buy other cryptocurrencies, which limits its use for most people.
Pundi X Wallet
The mobile wallet makes it easier for users to store and manage the public and private keys, using a password system similar to a standard online system. The wallet was designed to support several different cryptocurrencies, as well as fiat currencies.
The NPXS Token
Pundi X held its ICO back in January, raising their $35 million hard cap in just 90 minutes. Pundi X first had the ticker PXS, but in March it changed to NPXS on account of its mainnet launch.
Due to the crypto market crash at the beginning of 2018, the token hovered in between $0.001 and $0.0007-0.0008 by April.
After the Bancor Network listed the NPXS token its price rose to $0.004 or so, but then in May the price increased again, reaching nearly $0.015 before correcting itself. The price went up again to $0.015 in June when they announced the shipment of their first 500 XPOS devices. Since then the prices kept on declining. The months of September and October saw the value remain constant to $0.001 levels, and in November the price dropped below that mark.
The token is currently priced at $0.000455, being ranked in 55th position according to a market cap of $75,782,707. Currently, NPXS tokens are supported by a number of exchanges, including Binance, Upbit, DigiFinex, and Gate.io. It can be traded against BTC and ETH.
Should You Invest in the NPXS Token?
Pundi X developed its platform and crypto based on a unique and useful idea. But this will not guarantee that a high number of retailers will start adopting the POS device.
Even though the crypto’s development has not seen amazing growth, the token has a great potential to increase if a large number of retailers with will start using the POS devices. For the time being, the crypto’s long-term potential is still a matter of speculation.
Pundi X is an ambitious project that aims to simplify how cryptocurrencies are used in the payment process. While there is still a long way before cryptocurrencies will be accepted by mainstream businesses and physical stores, Pundi X is making bold steps towards that direction.