A few days ago I purchased my TenX Pay Card. When this thing really gets going, it's going to be a game changer.
I already had my Wirex Debit Card for purchases with cryptocurrency but it was always such a hassle. You had to exchange your BTC (or other cryptocurrency) back into USD fiat for a fee, then make your purchase which I would get hit with another exchange fee because I live in Canada, and then exchange whatever is left of the fiat back to BTC and pay a fee on that as well. It worked if you were in a pinch, but it's not a really good system.
So, out came Tenx. I'm super excited to get this card. It's going to take a few weeks to arrive because if they send them out too fast they will become bogged down with all the people trying to use this card at once. According to the CVO, there are people throwing 30 ETH on the card and trying to spend it. Not just one person, but multiple, multiple people doing this. I can see why they need to limit how fast they issue these cards, especially as it's still in beta.
Here's a great interview I just watched with TenX CVO explaining a lot about the card and the PAY Token that goes with it. It's a wildspark link so you'll have to go to that site to see it but I suggest you check it out and give it some AMP while you're there.
https://l.wildspark.me:8000/H1B1LWUOW
The best part of this card for me;
There is no need to convert your cryptocurrency to fiat in order to spend it.
There is no exchange fees.
There is only a $10 annual fee if you spend less than $1000 a year.
There PAY Token holder receives 0.5% for every transaction, paid in ETH.
The TenX card holder receives 0.1% rewards in Pay tokens.
It works in A TON of countries.
They will be adding as many different cryptocurrencies as they can so you won't be limited to only spending your Bitcoin. Right now (or very shortly) they will support BTC, ETH, ERC20 Tokens, and DASH.
Check it out for yourself.
Imagine when they get things really going and they add steem to the list of coins you can use. Buying a coffee, gas, or any other day-to-day purchase directly with steem without converting to anything else would be amazing.
Very interesting and I have learnt something new. Time to look at this crypto more closely.
Thanks for posting @stephen.king989.
Upvoted and resteemed.👌
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TenX is the future of everyday Cryptocurrency-debit card usage. One of the best investments that is still starting up and is still undervalued. We needed this innovation to convince everybody who said they couldn't purchase anything with bitcoin except other crypto. Now you can literally purchase anything. :] Goodbye naysayers
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Great card it will change the use of crypto in several places of the world. i, m gonna buy this crypto and hold for a while.
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@covals Thats what i did. Its like investing in Green dot, Vanilla or Netpay before they became huge. Lets make some money!!
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Good Luck
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Good Luck to you too!
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Thanks for sharing your thoughts about the card and let us know how the services turns out :)
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I most certainly will. Thanks for the comment.
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You're a genius!
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I love the TenX card concept and will be looking to get one for myself in the near future. I had some PAY tokens, but sold them at a profit. I like the card better than the tokens.
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The card is definitely awesome. I like the idea of making 0.5% eth on all transactions though. The more people that use the card, the more rewards you get.
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Because it doesn't covert the cryptocurrency to fiat, does this avoid a potential taxable event? If so, that could be a game changer
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Hard to really say for that. I think it's still technically exchanged to fiat, but it's automatic at whatever the going rate at the time of purchase. I'm not sure how you would track it by the end of the year to figure out how much of what you spent on your coffee that day was profit from crypto.
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This card seems to be very practical and saves money and time. Do you know if its available in Europe? Thanks for posting !
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I'm pretty sure the only place you can't get it yet it USA....and even that will be coming pretty soon they just have to wait 90 dyas after the ICO. I could be wrong so don't hold me to it but there is a large list of countries on their site.
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Thank you @stephen.king989. I will search their site :)
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It`s incredible this card. I like the concept and its use is great. i am buying this crypto because it promise a lot. Thanks for the post.
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Thanks for sharing!
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Sound interesting, I never knew about it :)
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Great post! Please have a look at a recent post I made about TenX. I make an argument that it does have an excellent product and team with good long term value. However, the market hype caused by newcomers has currently overvalued it. Let me know guys what you think about that.
https://steemit.com/tenx/@seenmidnight/aug-25-cryptocurrency-predictions-tenx-pay
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