The crypto-currency-credit card TenX has grown in the past week, a crypto-currency. Like the TenX, and also Litecoin founder Charlie Lee, to confirm, you can use the TenX credit card to pay in the world, with Litecoin at all Visa and Mastercard acceptance locations.
On the company blog of TenX was yesterday to read that Litecoin has already implemented a week ago, the Litecoin (LTC) support, both on the TenX Wallet App for iOS as well as Android.
The delayed announcement TenX justified by the fact that during the slower acceptance phase, the Live test could be completed. This procedure is also to apply for other future crypto-currency implementations, to ensure stability and wide availability.
Furthermore, the TenX Team has announced that a partnership with the Litecoin Foundation is received. In the context of TenX and Litecoin will be a Co-Branded credit card, which will be available soon. The TenX Team, said:
We hope to become the preferred payment platform for Fans and owners of Litecoin, and can’t wait to see how you can make use of our Wallet and the Revolution to join!
Charlie Lee, the inventor of Litecoin, confirmed the announcement of TenX and could not resist a nod to the failed project of LitePay: “LitePay who?”
LTC is a third party, the crypto-currency that is supported by the TenX credit card. So far, the owner of the card Bitcoin and Ethereum could use to payment on the TenX card.
According to TenX Support website for more Kryptos are already in development. The ERC20 Token Standard is in internal testing (Alpha Version). The implementation of Dash is in Beta testing stage.
It is important to know that the TenX cards are currently invalid. Since the company has no banking licence (is the aim), had to TenX refer to the maps via an intermediate provider Wave Crest. At the beginning of January was, however, known that the Wave Crest of Visa has to get the permission revoked cards. Of forced was also affected TenX. According to the Update from 29.03. is not yet clear when the new cards can be issued.
The main goals for 2018 to be the attainment of a banking license. In order TenX could issue their own cards.
The basic idea of TenX it is crypto-currencies convert, by use of a credit card in Fiat money and crypto-currencies make owners for everyday use.
The credit card in combination with the Smartphone-Wallet allows owners of card payments to all Visa and MasterCard acceptance locations around the world with crypto-to-pay currencies. Thus, there should be a total of 36 million acceptance points.
The functioning of the credit card is quite simple. In the case of a purchase in euros or in USD TenX takes the equivalent amount of crypto, sold for EUR/ USD, and sends this to the seller. For this performance, the company reserves 0.15 to 0.02% of the transaction amount.
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