Is TenX any good?
TenX is a relatively new cryptocurrency. They are creating a way to use cryptocurrencies wherever you want to. TenX may potentially be a market disruptor in the transactions industry. You will be able to store you Bitcoin, Ethereum, etc. in the app or TenX card for you to use at shops to purchase things. This is a problem that cryptocurrencies have. Cryptocurrencies aren't accessible enough for you to use at any given time anywhere since it is probably kept in your wallet in your PC where you will have to process a withdrawal which can be quite tedious. Additionally, you are able to use any cryptocurrency at the TenX wallet. TenX also allows instant transactions at any given currency's real-time value.
If you're wondering whether storing your cryptos in TenX will render you unable to earn dividends such as GAS for NEO you will not have to worry about it. You will still be able to generate gas regardless. It is largely popular in the crypto world and is expected to grow its user-base significantly in the future. It currently has 36 million points of acceptance both online and offline, which smashes a lot of hurdles that cryptocurrencies face. TenX is regarded as one of those coins that can bring cryptocurrency to mainstream usage.
One indicator to judge whether TenX is a good long-term investment is to watch for potential partnerships with credit card companies, such as, Visa or MasterCard. This is one possible future that you can consider.
On the other hand credit card companies may decide to create their own system similar to TenX making TenX inessential.
However, a common business practice of large companies is to simply acquire smaller companies that already have the existing technology rather than having to spend resources and effort to create their own, which is not very cost-efficient given their choices. Having said that, the possible future of a potential credit card company partnership is more likely than the latter.
If you're wondering what their transaction fees are, it is at 0% for spending and exchange fees. However, there is an annual fee if you spend less than 1000 Euros per year at 10 Euros which is not much.
The TenX ICO performed very well mostly due to the fact that Vitalik Buterin, the founder of Ethereum, is behind TenX as well. Vitalik supports what TenX is doing and the problem they are solving.
If you haven't already figured it out, TenX has its own token (PAY). You might have thought of why it has its own token when the system allows the usage of different cryptocurrencies. Where does the token get its value from? What do you get for holding the token?
PAY increases in value as bigger and bigger transaction volumes are being conducted through TenX. The interesting thing is that a larger user-base doesn't necessarily increase PAY's value rather it is the amount individuals spend in every transaction.
Token holders will be able to receive 0.5% of the entire settlement volume paid out from the card, which will be rewarded in ether. This is much like bonus point programs for credit cards.
To sum it all up, TenX has a great team and a very practical technology that can be widely adopted in the transactions industry.
If you would like to know how to get started with crypto trading you can check this book out. Once you've learned the essentials of cryptocurrency, you can head over to HitBTC and start trading TenX.
Please do not take my word as financial advise. I am not a financial expert. Invest at your own risk and do your own research.