XferMoney is a secure and transparent (P2P) currency platform developed in the Ethereum block chain that enables instant and reliable international trading. This platform was designed to change and replace the traditional form of money transfers by establishing an immediate connection between users to exchange money and avoid the use of intermediaries, banks or brokers, in addition to the costs involved.
The problem
All currency exchanges are made through third parties such as banks, brokers and other intermediaries. This increases the costs, timeframe and complexities of the process. Normally, private consumers generally have to pay a very high price for having the benefit of exchanging one currency for another.
For the foreign exchange world, the world's leading banks engaged in foreign exchange operations of $5 trillion a day reserve the best interest for their major clients, such as large corporations, governments and institutions. For these customers, the spreads on trading transactions are very low due to the competitive nature of the foreign exchange business.
However, retail customers, and partly small and medium-sized enterprises (SMEs), have long faced significantly higher prices due to the power of established intermediaries (i. e. banks) and the absence of alternative currency exchange alternatives. However, they now have a sustainable and much cheaper alternative in the form of peer exchange networks (P2P).
Over time the Forex P2P platform has begun to sell on the market, who claim to charge a very nominal fee. However, our evaluation shows that even in this process the customer must pay a global transfer fee of 0.75% not nominal. In short, no one has made the democratisation of this reality a reality and there is still much work to be done so that retail customers do not have to worry about this money transfer.
it works
Multi-currency debit card
XferMoney will provide your multi-currency debit card and all accounts opened with XferMoney will have access to it. With the debit card, users who have an XferMoney account will be able to spend their money abroad as a local currency.
First and foremost, buyers who do not have a foreign account, for example tourists, will enjoy the advantages of our multi-currency debit card, as they will be able to convert their money and spend it abroad at no charge.
Example
Michael is an Australian citizen who is planning a trip to Europe, and needs Euros to spend on his travels.
- Open an account at XferMoney to opt for a debit card.
- Make a deposit in your local AUD currency to convert it into Euros.
- XferMoney gets an order and performs the conversion and Michael already has Euros on his Debit Card.
- Now Michael can easily use his money without being charged commissions for every transaction.
XferMoney Objective
The main objective is to provide retailers with the opportunity to exchange money worldwide with other people, businesses or their own accounts in another country at minimal cost. This should benefit all persons who have paid high compensation to existing banks, institutions or brokers to transfer funds to other countries. Experience in software development, the block chain and the Forex market enables us to create a P2P solution to benefit end consumers and improve currency trading security worldwide.
Why we recommend using Xfermoney.?
We highly recommend Xfermoney for its great advantages;
- Market Possibilities
- Connects the customer directly with the market without intermediaries.
- Unbeatable exchange rates
- Both buyer and seller benefit from the current conversion rate.
- Increased speed
- Real-time instant money transfers.
- Customer Support
- Customer support with a live online chat service for an easier answer to all customer questions.
- Market Benefits
- As it is supported by a blockchain platform you will benefit greatly.
- Lower transaction fees
- A minimum fee that minimizes transaction costs.
- Safe and reliable
- All transactions supported by the blockchain platform offer greater transparency, security and reliability.
- 24/7 availability
- It operates 24 hours a day, 365 days a year worldwide.
About the Token
Token XFM
The XFM is an ERC 20 token built on the Ethereum network and used to power the XferMoney platform. XFM is a way to reward or be rewarded for your collaboration on the platform and each of your funds transfer activities has the associated cost specified in XFM. As funds transfer operations are carried out on the platform, the platform itself will benefit from a commission from among the participants in the transaction.
Distribution of XFM
| Timelines (Phase 1) | Crowd-sale - 16 Feb 2018 to 31 Mar 2018 |
|---|---|
| Total XFM supply | 250,000,000,000 |
| Wholesale sales allocation | 87,500,000 |
| Retail price XFM | 1 ETH = 8000 XFM |
| Individual investment CAP | None |
| Pre-sale Available | Yes |
| Presales quota | Unlimited, same as large scale sales allocation |
| Retail price | 1 ETH = 8000 XFM chips |
| Max Stop | 5M (USD) |
Route Map
| Target | . |
|---|---|
| Ideas Incubation, Market Research and Feasibility Analysis, Team Building | Q3 2017 |
| Platform Architecture and Design, Whitepaper | Q4 2017 |
| Publication XFM Token Offers, Token Distribution and List of Exchanges, Brand Knowledge, Platform Development | Q1 2018 |
| Equipment Expansion Platform development, Licensing and regional approvals | Q2, Q3 2018 |
| Alpha Release, Basket 1 Pairs of Currencies | Q4 2018 |
| Beta Launch, Support for currency pairs of Basket 1 and 2 | Q1 2019 |
| Multicurrency Debit Card, Platform support for basket currency pairs 3 | Q2, Q3 2019 |
Team
- Sumit Kumar - Founder / CEO
- Shivam Kumar - Technology Leader
- Dipankar Mishra - Senior Business Advisor
- Gaurav Jha - Technological Consultant
- Chetas Sankhesara - Senior Software Programmer
- Vipin Goyal - Project Resource Manager
More Info
| Platform | Enlace |
|---|---|
| Sitio Web | https://xfermoney.io/ |
| White Paper | https://xfermoney.io/wp-content/uploads/2017/12/XferMoney_Whitepaper_1.0.pdf |
| https://twitter.com/XferMoney | |
| https://www.facebook.com/Xfermoney-136308600385196 | |
| Medium | https://medium.com/@xfermoney |
| Telegram | https://t.me/xfermoney |
| https://www.reddit.com/user/xfermoney | |
| ANN | https://bitcointalk.org/index.php?topic=2667864 |
By Bitcointalk user: jpirulo
Profile: https://bitcointalk.org/index.php?action=profile;u=1192567
Myetherwallet: 0x4312006E30A82664F5b7EF51B2cE5c864F54cb1f
by Jpirulo