How to convert crypto currency
Most people cannot yet imagine paying with crypto currencies like Bitcoin in the normal way in everyday life. The blockchain company TenX has decided to change that and is now also offering its functions in Germany.
Buy cryptocurrencies in the app and pay with a VISA card
TenX was founded in 2015 and was part of the PayPal Incubator Start-Up Program in 2016. TenX's service now consists of two parts: a digital wallet in the form of an app and a VISA debit card. The app can be used to buy crypto currencies such as Bitcoin, Litecoin and Ether and use them to top up the card. The TenX Card can be used to process payments and withdraw money online and offline in almost 200 countries. During the transaction, the cryptocurrencies are automatically converted into fiat currencies, which the trader then receives. Fiat currencies are the money we normally use to pay, e.g. euros or dollars. Until recently, the card was only available in Singapore, Malaysia, Hong Kong, Australia and New Zealand. It is now also available in Germany and Austria. Spending can be tracked via the app and purchase limits can be set.
TenX values security and data protection
Users don't have to worry about possible security gaps. TenX has an e-money license from the Lichtenstein financial supervisory authority, which allows the company to promote the use of cryptocurrencies in the European economic area. Fraud protection is guaranteed, among other things, by two-factor authentication and the option of unlocking the app using fingerprints or facial recognition. If the end device is lost, the purchased cryptocurrencies can be restored.
Paying with cryptocurrencies should be as easy as sending a message
TenX has set itself the goal of making the in-app purchase of crypto currencies, charging the card and the process of switching between crypto and fiat currencies as easy as sending a text message. The company wants to inspire customers who are interested in crypto currencies but do not know how to get started with its business model. "[TenX] wants to make sure that they can get digital money easily and securely," says co-founder Paul Kittiwongsunthorn. We are curious to see whether TenX can assert itself against the competition in the crypto market and integrate crypto currencies across the board into everyday life.
Image source: © TenX Pte Ltd
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