Published on Feb 21, 2020
TenX started life as OneBit, a payment card linked to a bitcoin wallet. When Bitcoin began to give up some of it’s cryptocurrency market share, the OneBit team identified an opportunity in developing an exchange platform that could open their project to this broadening market. The platform they came up with is called the COMIT network.
The TenX Wallet is the major game changer as it enables users to spend their blockchain assets through their smartphone or a physical debit card at over 36 million points of acceptance online and offline. The TenX App (called the TenX – Blockchain Asset Wallet) is downloadable for free on Android and we aim to launch the WebApp and iOS versions from July and August 2017 respectively
Once the user has downloaded the TenX App, he simply enters his phone number and email address to set up an account
A multi-currency wallet will be created automatically, which the user can then fund with different cryptocurrencies. The private key to each TenX Wallet is currently secured via an industry-standard hot & cold storage solution. By the end of 2017, we will directly link the TenX Wallet to the COMIT network, thereby allowing users to store their own private keys
The cryptocurrencies do NOT need to be converted to fiat money until an actual transaction happens, in which case such conversion will be conducted in real-time. The user can choose between different blockchain assets as a source of payment within the TenX App. Further, the user can conveniently convert a wide range of blockchain assets such as BTC, ETH and DASH from one to another by simply using his TenX Wallet.
● Multi-asset (any blockchain asset compatible with and accepted by the TenX Wallet)
● Assets stay in cryptocurrency
● Best available foreign exchange and transaction fees (with no other charges)
● Decentralized and trustless storage
● Global access to 36 million points of acceptance online and offline in close to 200 countries
● Any user from non-US countries can sign up now (sign-ups in the US to follow by the end of 2017)
● Users earn a 0.1% reward for every purchase they make. This incentive will be transferred to the user in form of PAY tokens initially on a monthly basis, which additionally gives them the opportunity to become token holders and further benefit from a potential value upside of the tokens (see the section below entitled “TenX Initial Token Sale” for further details). Going forward, TenX aims to distribute the reward more frequently, with a target of reward distribution on an hourly basis
An Initial Token Sale (ITS) is an event in which a new cryptocurrency project sells part of its cryptocurrency tokens to early adopters and enthusiasts in exchange for funding. For the party offering the tokens for sale, this has become a well-documented and well-respected way to raise funds to upscale an existing product or service.
