What is TenX?
TenX is a multi-blockchain service that allows you to spend your crypto currency directly as currency in the real world.
This is their website.
Their main offering right now is a wallet and a card. But to be honest, not many people care about the wallet part of the thing. The cool part is the card. The card is basically a pre-paid VISA card that is funded by your Ten X crypto currency wallet.
When you sign your card, Ten X handles (and bares the risk) of converting your fiat to crypto allowing you to transact immediately.
Another thing they are trying to build is a network which allows different blockchains to become inter-operable. Something they are calling the COMIT Network.
What is PAY?
PAY is the token they offered in their ICO and is currently the thing that best tracks the value of the Ten X company. There are 2 main interactions around PAY, one for the token holder and another for the card holder.
Token holders basically get paid out based on the amount of PAY they have. They are paid based on the transactions that happen in the network.
Card holders get PAY when they spend on their card. I think of it a little as reward points.
Which currencies are supported?
Right now their main coin is BTC. However it is said that ETH and some ERC20 coins are coming soon.
I wanted to take some time to help introduce people to TenX. I want to make clear that I don’t work for the company, so I might be wrong. I hope someone has found this useful.