FXPay PROJECT ((ICO 2018))-THE FOREIGN EXCHANGE TRADING PLATFORM

in #dprince22816 years ago

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Hello! everyone all over the world, As usual ! all of you know's, I always carry you along with any information about good crypto related projects through my blog.

INTRODUCTION:

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The foreign exchange market (Forex, FX, or currency market) is a global decentralized or over-the-counter (OTC) market for the trading of currencies. This market determines the foreign exchange rate. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world, followed by the Credit market.

The main participants in this market are the larger international banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. Since currencies are always traded in pairs, the foreign exchange market does not set a currency's absolute value but rather determines its relative value by setting the market price of one currency if paid for with another. Ex: 1 USD is worth X CAD, or CHF, or JPY, etc.

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The foreign exchange market works through financial institutions, and operates on several levels. Behind the scenes, banks turn to a smaller number of financial firms known as "dealers", who are involved in large quantities of foreign exchange trading. Most foreign exchange dealers are banks, so this behind-the-scenes market is sometimes called the "interbank market" (although a few insurance companies and other kinds of financial firms are involved). Trades between foreign exchange dealers can be very large, involving hundreds of millions of dollars. Because of the sovereignty issue when involving two currencies, Forex has little (if any) supervisory entity regulating its actions.

The foreign exchange market assists international trade and investments by enabling currency conversion. For example, it permits a business in the United States to import goods from European Union member states, especially Eurozone members, and pay Euros, even though its income is in United States dollars. It also supports direct speculation and evaluation relative to the value of currencies and the carry trade speculation, based on the differential interest rate between two currencies.

In a typical foreign exchange transaction, a party purchases some quantity of one currency by paying with some quantity of another currency.

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The modern foreign exchange market began forming during the 1970s. This followed three decades of government restrictions on foreign exchange transactions under the Bretton Woods system of monetary management, which set out the rules for commercial and financial relations among the world's major industrial states after World War II. Countries gradually switched to floating exchange rates from the previous exchange rate regime, which remained fixed per the Bretton Woods system.

The foreign exchange market is unique because of the following characteristics:

its huge trading volume, representing the largest asset class in the world leading to high liquidity;
its geographical dispersion;
its continuous operation: 24 hours a day except weekends, i.e., trading from 22:00 GMT on Sunday (Sydney) until 22:00 GMT Friday (New York);
the variety of factors that affect exchange rates;
the low margins of relative profit compared with other markets of fixed income; and
the use of leverage to enhance profit and loss margins and with respect to account size.
As such, it has been referred to as the market closest to the ideal of perfect competition, notwithstanding currency intervention by central banks.

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According to the Bank for International Settlements, the preliminary global results from the 2016 Triennial Central Bank Survey of Foreign Exchange and OTC Derivatives Markets Activity show that trading in foreign exchange markets averaged $5.09 trillion per day in April 2016. This is down from $5.4 trillion in April 2013 but up from $4.0 trillion in April 2010. Measured by value, foreign exchange swaps were traded more than any other instrument in April 2016, at $2.4 trillion per day, followed by spot trading at $1.7 trillion.

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The $5.09 trillion break-down is as follows:

$1.654 trillion in spot transactions
$700 billion in outright forwards
$2.383 trillion in foreign exchange swaps
$96 billion currency swaps
$254 billion in options and other product

In reference with the motion of this article, Today, I will be presenting you a particular undisputed project called: FXPay

WHAT IS FXPay?

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FXPay is an exciting and highly prospective business opportunity that brings innovative technology to the Foreign Exchange (Forex) market. FXPay believes we can intelligently mitigate risk and increase the speed of transactions in the Forex market through the utilization of its FXP token, an ERC20 token based on Ethereum blockchain technology.

By introducing blockchain technology to the Forex market, FXPay is able to address inefficiencies in the market that, until now, have not had a solution. By offering a digital currency to brokers and traders, FXPay provides a medium through which to effortlessly convert fiat currency into FXP tokens. Once it is securely logged on the blockchain, it can be converted into any of our Forex pairs. Traders can then use Forex credit to participate in the market. Once trading has ceased, trader scan trade Forex credit back into FXP or any other digital currency. Alternatively, traders can choose to keep Forex credit, which can either be used to continue trading at a later stage or withdrawn into fiat currency through the Forex trading platform, at minimal cost.

ABOUT FXPay

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FXPay Inc. aims to create a large, international, eco-friendly community on a digital platform that is made to meet the demands of Forex liquidity providers and traders. The primary focus will be premium brokers who require a new transaction method which is made cheaper and faster through the use of blockchain technology. FXPay Inc. aims to expand on this becoming our own premium broker. This will allow clients to freely invest in the Forex market with our token. This will provide a platform with both established users and significant daily volumes, which will steadily increase the price over time.

FXPay World's first forex token ecosystem enable financing, investing and trading on the blockchain FXPay is an exciting and highly prospective business opportunity that brings innovative technology to the Foreign Exchange (Forex) market. Our goal is to address the current inefficiencies within the market and to provide cost-saving solutions to brokers, traders, and liquidity providers. By utilizing blockchain technology, FXPay can intelligently reduce the risk for brokers and traders by providing more opportunities and increase the speed of transactions in the Forex market. FXPay is proud to bring our initial coin offering to the market and to allow investors to become part of our exciting new product and journey. The FXPay platform will immediately start addressing the issues within the current Forex market. Our proposed solution will demonstrate the tangible value of the FXP token.

COMMON PROBLEMS FACING FOREIGN EXCHANGE

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  • The fees incurred by the trader, broker, and liquidity provider when withdrawing and depositing funds.

  • The lack of consistency concerning broker fees, due to a lack of standardization When the individual trader wishes to exchange one currency for another, a fee is incurred.

  • Exchanging money is a convoluted process that can take multiple days.

  • Hurry sign up to get your limited time offer, as we expand globally.

  • By introducing blockchain technology to the Forex market, FXPay is able to address inefficiencies in the market that, until now, have not had a solution.

FXPay SOLUTIONS TO THE PROBLEMS MENTIONED ABOVE

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  • By offering a digital currency to brokers and traders, FXPay provides a medium through which to effortlessly convert fiat currency into FXP tokens.

  • Once it is securely logged on the blockchain, it can be converted into any of our Forex pairs. Traders can then use Forex credit to participate in the market. Once trading has ceased, traders can trade Forex credit back into FXP or any other digital currency. Alternatively, traders can choose to keep Forex credit, which can either be used to continue trading at a later stage, or withdrawn into fiat currency through the Forex trading platform, at minimal cost. This offers traders and brokers an attractive alternative to the traditional Forex structure, 8 Discount + FXP token FXPay LP ++ Broker + Trader Forex Credit by providing an innovative platform with highly reduced fees and faster transaction times. The result is increased profit margins and investment potential for traders, and cost savings for brokers when transacting with liquidity providers.

  • FXPay Inc. presents an attractive offering for Crypto investors, who can now choose to participate in the Forex market as well. FXP can be used as a great hedging opportunity in a situation of high market volatility. Crypto investors can easily swap their crypto for a more stable fiat alternative, until the market has stabilized.

  • FXPay will act as its own Premium Broker. Offering brokers the ability to purchase FXP at the prevailing market price, plus a discount. This provides leverage to brokers that choose to use our platform. Brokers can choose to manage their own risk and profit by using their leverage and deciding how much of their FXP they would like to allocate to traders.

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FXPay ICO ANALYSIS

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The ICO is a natural supplementary funding source to further accelerate the development and global adoption of the FXPay PLATFORM

FXPay is proud to bring our initial coin offering to the market and to allow investors to become part of our exciting new product and journey. The FXPay platform will immediately start addressing the issues within the current Forex market. Our proposed solution will demonstrate the tangible value of the FXP token. FXPay has so much confidence in our product that we will be offering early investors up to 100% of their investment back in FXP tokens, as a bonus and It can be redeemed immediately though one of our forex broker partners. When the FXP Platform goes live, it will quickly receive a large daily transactional flow, and within a few months, FXPay will be immersed in a major industry with expected turnovers of US$ 54 million per day.

FXPay TOKEN ANALYSIS

ERC20 TOKEN FXP is an ERC20 token that operates on the FXP is an ERC20 token that operates on the Ethereum network, one of the most robust and reliable blockchain technology platforms.

The FXPay Payment Gateway will be based on the Ethereum blockchain through the utilization of the FXP token. The ERC20 token will allow FXPay to take full management of hosting digital currency. Ethereum is a well established digital currency that acts as a backbone for the platform technology, which will ensure the cyber-security for all transactions.

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  • Token Symbol »» FXP

  • PreICO Price »» 1 FXP = 1.15 USD

  • Price »» 1 FXP = 1.60 USD

  • Bonus »» Available

  • MVP/Prototype »» Available

  • Platform »» Ethereum

  • Accepting »» ETH, BTC

  • Minimum investment »» 100 USD

  • Soft cap »» 30,000 ETH

  • Hard cap »» 90,000 ETH

  • Country »» UK

  • Whitelist/KYC »» KYC & Whitelis

CONCLUSION:

Thanks to Blockchain Technology and FXPay Platform for introducing better and incomparable ideas in the World Foreign Exchange Histories.

For more information about this project, please! follow the links bellow » » »

WEBSITE: https://fxpay.io

WHITEPAPER: https://fxpay.io/pdf/FXPAY_V.1.4.pdf

ANN TREAD: https://bitcointalk.org/index.php?topic=3851151

FACEBOOK: https://www.facebook.com/fxpayglobal

TWITTER: https://twitter.com/fxpayglobal

TELEGRAM: https://t.me/fxpglobal

••BITCOINTALK USERNAME: Dprince2281

••BITCOINTALK PROFILE LINK: https://bitcointalk.org/index.php?action=profile;u=1907552;sa=summary

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AUTHOR: Dprince2281

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