TenX Cryptocurrency Review: Introduction for Beginners
TenX is a cryptocurrency platform that is made up of a wallet, a physical debit card, bank account, ATM access which specializes with connecting assets and businesses on blockchains, enabling them to perform real-world payments.
How does it work?
TenX is built on the COMIT Network, which processes transactions rapidly across a blockchain.
To access the platform, you need to download the TenX wallet, which is available as a mobile app from the Play Store or as a desktop software from TenX.tech.
The platform and wallet support other assets across multiple blockchains, like Bitcoin, Ethereum, Dash and ERC20 tokens. The platform has stated that they plan on adding more digital currencies in the future.
The TenX platform benefits from decentralized security, which is founded on smart contracts. The owner of the DSS key is in total control of his funds and can set and adjust his security settings at any time via the smart contracts. You can set security settings for daily limits, portfolio spending, withdrawal settings and more.
The COMIT Network
The COMIT Network is a Cryptographically-secure Off-chain Multi-asset Instant Transaction network.
It is a payment platform that can offer the same final and elegant solution as the internet did for information. It promises to provide frictionless cheap payments for customers from all over the world, without imposing any limitations to assets and business processes connected to the blockchain.
TenX’s network relies on the technology of the payment platform that is COMIT. This platform combined with the COMIT network aims to provide users with exchange-traded funds, exchange services, lending options and security.
The token holders receive a reward consisting of ETH for every transaction, the TenX token owner being rewarded with 0.5% of the operation, while also getting 0.1% cash back in the form of PAY.
The TenX fee structure is simple to understand. There are the following prices:
-Foreign Exchange Fee: 0%
-Physical Card Issuing Fee (Covers Shipping and Tracking): $15 US
-Virtual Card Issuing Fee: $1.50 US
-Physical Card Annual Fee: Free (or $10 US if you spend less than $1,000 US a year)
-Virtual Card Annual Fee: Free (or $10 US if you spend less than $1,000 US a year).
TenX has certain limits when it comes to spending. Standard accounts have a limit of 200 EUR per ATM withdrawal and a daily spending limit which is 2,500 EUR per day. If you wish to increase your spending limits, you can upgrade your account and raise your limit to 10,000 EUR per transaction, 20,000 EUR per day and a 1,000 EUR per ATM withdrawal.
TenX is a payment platform that makes use of the technologies of the COMIT Network, eliminating most fees that come along with international banking and transfers. TenX provides physical and virtual cards that enable their owner to access products and services in real-world stores and facilities.
It is evident that this coin has attracted a great deal of attention in the cryptosphere, receiving support from Ethereum’s creator, Vitalik Buterin, but only time will tell if this company will succeed in this ever-growing market.
At the time of this writing, TenX is listed as the 96th on CoinMarketCap and has a value of $0.664607 USD and a market cap of $72,646,819 USD.