TenX – the credit card for digital currencies

TenX, the credit card from a StartUp. The big advantage that crypto currencies have over any traditional currency is the speed with which transactions are processed. However, they have the disadvantage that they are not accepted everywhere – credit cards that allow payments in a traditional currency do.

Who stands behind onlinebetrug.net/en?

The three Tyroleans Michael Sperk, Julian Hosp and Toby Hönisch met the onlinebetrug Thai Paul Kitti by chance in the Asian metropolis of Singapore in 2014 and realized in conversation that they share a common passion for crypto currencies. Together they founded a startup in Singapore and had raised around 80 million US dollars in June 2017 as part of a so-called token sale. Julian Hosp, the CMO of the young company, says:
“We hadn’t even planned to sell so many TenX tokens. But we were one of the few blockchain start-ups that already had a finished product.

The goal is to offer customers a TenX Card. This card contains a TenX Wallet, which customers can link to their respective crypto currency. This makes it possible for customers to pay with digital money on their TenX Debit Card wherever Master or Visa Cards are accepted as means of payment.

The internal allocation of roles and the further strategy are also already in place. For example, Toby Hönisch holds the role of CEO after his studies in security technologies and artificial intelligence, while Michael Sperk holds the position of CTO. The number of employees is to be doubled to 40 in 2017.

Crowdfunding for Bitcoin Revolution

TenX had created the “PAY” token itself for https://www.onlinebetrug.net/en/bitcoin-revolution/ crowdfunding. Depending on the TenX exchange rate, a total of 4,000 buyers had invested up to USD 80 million in the company via various digital currencies. In return, the buyers received PAY tokens. These, in turn, can rise strongly in value if the young company’s business is positive and, consequently, the TenX price or the TenX coin price also rises.

Hosp says the financing for the plans to establish the TenX card worldwide is secured for five years after crowdfunding. 50 percent of the income from crowdfunding has been converted into traditional currencies, while the rest is held as a reserve in crypto currencies. After the rates of all crypto currencies were subject to strong fluctuations in the previous months, the company may receive much more capital if – as the founders expect – the rates develop positively in the future.

What is a Token Sale?
In principle, the token sale – also known as the ICO in the industry – is similar to crowdfunding. This means that anyone who wanted to buy TenX made a bet on the positive development of the company. TenX Coin, i.e. PAY, thus gains value, whereby the buyer profits from the future success of the company. TenX ranks among the ten largest ICOs in the first half of 2017. These are the ten largest ICOs:

Tezos with a volume of 208 million US dollars
IO with a volume of 200 million US dollars
Bancor with a volume of 153 million US dollars
Status with a volume of 95 million US dollars
TenX with a volume of 80 million US dollars
MobileGo with a volume of 53.3 million US dollars
SONM with a volume of 42 million US dollars
Basic Attention Token with a volume of 35 million US dollars
Civic with a volume of 33 million US dollars
Storj with a volume of 30 million US dollars
The founders not only want to profit from the price increases, but have also included real revenue opportunities in their planning: TenX receives a small share of the turnover if the owner of a credit card pays with it. Of this revenue, 0.5 percent is distributed to the owners of the tokens. Customers who pay with their credit card are additionally rewarded with a bonus of 0.1 percent. However, it is not yet clear whether this idea will really be able to assert itself on the market. The success of the card is likely to depend largely on the TenX Whitepaper and the published TenX News. This is because the state regulatory authorities act in completely different ways.