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In the commercial world we live today, intercontinental fund transfer is extremely difficult with a large sum of transaction fee, delays in processes and may take longer than expected to receive funds at the receiving end. There are also limitations in terms of regulatory bodies and locations. Traditional online payment methods for goods and services is relatively slow and exposes users' details to hacks. Thanks to the adoption of Blockchain technology that is power-driven by a smart contract.

Blockchain technology is a distributed system that has the ability to maintain a ledger of transactions for eternity. It is immutable, transparent, convenient, eradicates intermediaries, not prone to hacks, and it has a very high level of security.

What about paying for goods and services? Most online stores sell in fiat currency, which makes purchase difficult for customers in a different country. For instance, a Nigerian who wish to buy goods or services from a United State online retail store, have to undergo a strenuous process to create a domiciliary account or may just have to ignore the purchase or services, which is a loss of a customer to the retail store.

Most cryptocurrency wallets support just one type of crypto asset, and those that support various crypto assets, does not have the feature of exchanging crypto to fiat, fiat to crypto and crypto to crypto. Therefore, are not suitable for day-to-day online retail businesses.

WHAT IS XCOYNZ

The XCOYNZ platform is a London based, UK registered company. It is a multi-cryptocurrency payment gateway platform integrated with XCOYNZ exchange and other unique feature tailored to thwart the risk of internal and external cyber hacks thereby connecting individuals with e-commerce online retail platforms.

XCOYNZ will be solving the aforementioned and many other related issues faced in the e-commerce sectors such as the complexity in the cryptocurrency adoption and the high cost of a transaction fee. The platform will serve as a one-stop solution for payment gateway and means of fund exchange at almost no transaction fee. XCOYNZ will be a global exchange that will facilitate transfers of funds across the world without limitations. The XCOYNZ platform is a user-friendly platform that allows users to integrate their PayPal, Debit cards and other bank accounts to the XCOYNZ exchange for easy transactions.

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XCOYNZ FEATURES

The XCOYNZ platform has four (4) unique features:

The XCOYNZ Smart Algorithm Wallet (SAW): this is an unapparelled feature that enables individuals to have just one unique wallet address that holds various cryptocurrency. The XCOYNZ SAW incorporates XCOYNZ individual cryptocurrency wallets. When individuals use the XCNZ token, they also leverage the benefits of SAW features. This feature has multiple layers of security which also includes two-factor (2FA) authenticator.
The XCOYNZ payment gateway: this is the portal where both retailers and individual users receive and make payments for products and services respectively either in fiat (government issued currencies.) or cryptocurrency. It is a means of connecting individuals to the e-commerce retail platforms globally.
The XCOYNZ Smart card: This is a contactless payment card that will enable users to use their smart cards to buy goods and services from online retail stores. With the smart card, users can make withdrawals of fiat from ATMs, have access to their personal cryptocurrencies thereby enabling users to pre-load their choice of cryptocurrency assets.

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The XCOYNZ Exchange: this is a serene environment where individuals can securely exchange their funds effectively at almost no transaction fee either from (1) crypto to fiat (2) fiat to crypto (3) crypto to crypto.

HOW XCOYNZ PAYMENT GATEWAY WORKS

XCOYNZ platform will make the payment for goods and services so easy and convenient on the e-commerce sectors via a payment gateway that functions like PayPal. The XCOYNZ payment gateway will be in cryptocurrency thereby bringing crypto-assets to e-commerce sectors.

It is required for both retailers and individuals to have a registered account on the XCOYNZ platform and must pass the XCOYNZ know your customer (KYC) or Anti Money Laundering (AML) processes. This is to ensure the legitimacy and traceability of users. Which also serves as a security means. After the KYC or AML processes, the retailer or individual will have to subscribe to the XCOYNZ payment gateway.

Retailers will have to integrate the XCOYNZ payment gateway into their own online store or platform which in turn increases the adoption of cryptocurrency usage for buying of products and services online.

After the complete purchase of products and services by a user, he is left with the option to pay with XCNZ token. The user is then redirected to his XCONYZ account wallet, where he will have to log-in and make payments securely.

Note that the generated transaction ID made by the retailer will be visible in XCOYNZ account history of both the retailer and the user.

BENEFITS OF USING XCOYNZ PLATFORM

Users will be able to set their own exchange rate fee when exchanging from one currency to the other.
Users can make a direct transfer of fiat to their bank account.
It will enable an individual to have options of cryptocurrency as a means of payment. Using XCNZ token as a means of payment will attract no exchange fee.
It will facilitate users to leverage the benefits of SAW features when they make payment from their XCOYNZ SAW (Smart Algorithm Wallet). The XCOYNZ SAW wallet has different crypto options. The transaction fee is not applicable to XCOYNZ SAW wallet users.
It will boost retailers to receive payments in an option of fiat currencies direct to their specified bank account.
It will enable retailers to receive payments in an option of cryptocurrency to their personal XCOYNZ business wallet account.
It will facilitate retailers to leverage the benefits of SAW features when they receive payments to their XCOYNZ SAW.

XCOYNZ TOKEN AND USE

The XCOYNZ has a native token called "XCNZ" which is a utility token created on the Ethereum blockchain, power-driven by the Ethereum smart contract. The XCNZ token will serve as the fuel of the XCOYNZ platform that will be used as the standard means of transactions on the platform for all services across the globe. The major aim of the XCNZ token is to promote features that enhance the functionality of XCOYNZ daily business activities thereby adding more value to the XCNZ token. The XCOYNZ platform will launch a program whereby a certain agreed amount of the XCNZ token collected will be burned.

The XCNZ token will be used across the XCOYNZ exchange for the following purpose:

XCNZ token will be used by an individual to set their own transaction fee;
XCNZ token will be used for X-Swift withdrawals from crypto-to-fiat;
XCNZ token will be used by customers in retailer's shops as a payment gateway for goods and services. This is called the "Retailer payment gateway reduce fee."

Note that when a user fails to utilize the XCNZ token, a standard fee will apply on any transaction made by the user.