Two Reasons Still Think TenX Will Be Huge

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I remember getting in to cryptocurrency last year. Like everyone else, I started with Bitcoin and then I discovered Steem. The next coin, or rather token that got my attention was TenX. TenX has been around for some time now and they aren't new. However, there was something that caught my attention about TenX. It was not the only project back in 2017 that wanted to revolutionize cryptocurrency payments, at that time Monaco (now known as crypto.com) also held promise. Despite that, I still went on with TenX for several reasons. Before I begin, for the sake of not confusing the reader, TenX will be referred to as TenX and crypto.com will be known henceforth as MCO.

TenX is a project based in Singapore that aims to offer the first cryptocurrency payment solution via a Visa credit card. MCO which has a similar project goal is based in Hong Kong. When I started researching TenX and MCO, there were a few aspects that I looked at. Now, mind you, both TenX and MCO are great projects. However, I found TenX a better project for a few reasons which I will be listing them below. That being said, I am aware that MCO has an investment feature, but I will only be talking about the payment card and app.

If you do a quick search at the moment TenX and MCO are currently leading the pack. Centra, another similar project is being charged by the securities commission, while Token card is still under development. In terms of first mover advantage, many would claim that MCO was the first to launch their product. Having launched their card on September the fifth 2018, they are seen as the first to offer the first cryptocurrency payment solution to the masses.

However, I would disagree on that and would argue that TenX was the first to launch their card. For one, their card was released and shipped to many in Europe and other countries in the first quarter of the year. Here's a snapshot of the different customers receiving their cards.

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I especially like how one of the customers even managed to buy a Macbook with the TenX card. This has at that time, been a revelation for many. It seemed at that time with TenX, people were finally able to purchase different goods with their cryptocurrency. As such, having moved a working product to the masses first, this makes TenX the company who has the first mover's advantage. However, problems quickly surfaced for TenX soon after.

TenX stopped issuing their cards when their business partner and card supplier, Wavecrest lost their card issuing license. With this, the issuing of their cards and payment function of their mobile wallets have been placed on hold until this day. It is now October and yet they have been unable to launch their product. Within that span of time, MCO has launched their card and mobile wallet app on the fifth of September. Despite this, I still think that TenX did a few things right.

For one, TenX launched during the cryptocurrency hype season. It was at this time, back in January 2018 when people were going crazy about cryptocurrency. MCO however launched when cryptocurrency is at a near all time low. In other words, it launched at a time when many have lost faith in cryptocurrency. Thus, it may not have been the best move as adoption of it may be lacking. Nonetheless, kudos for the MCO team for getting their card and wallet app out!

For this section, I will talk about each product's barrier of entry. In general, I will talk about how much it takes to obtain the card as well as to gain rewards from it. Between both cards, it can get rather subjective as to who has the lower barrier of entry, so let me explain. If you wanted the most basic of all MCO cards, you can obtain one for free. It does not cost you anything. However, there are limitations to this card.

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For one, you will only be able to withdraw up to 200 usd a month. Also, you will only be able to conduct a maximum amount of 2000 usd of interbank exchange a month. That is rather limited for a card. If you would like to have their full featured card, which gives you 2% cashback, Loungekey airport lounge access and unlimited interbank transfers, as well as a 4000 usd ATM withdrawal limit, this would cost you.

The price is to purchase and hold 50,000 MCO coins. This would set you back approximately 200,000 USD. As much as you still own the tokens, I find that it can be too expensive to start using the card. Although, with how many MCO tokens are staked and held, I am not surprised that MCO is holding its value rather well in this market. As such, if you do have the means and would want to invest in MCO, it is a great buy. I for one, do not have such means and thus, I prefer TenX.

I have a rather modest amount of cryptocurrency at my disposal. As such, if I really wanted to spend my cryptocurrency using a card, I would go with TenX's offer. In order for me to receive a card from them, I would have to pay a fee of 15 usd. As such, I find that TenX has a better barrier of entry as compared to MCO.

Furthermore, if I wanted to be cheap, I could just opt for the virtual card which would require a 1.50 USD activation fee. Furthermore, there are no limitations set by the different tiers of cards unlike the offerings of MCO. In addition, TenX does provide 1% cashback rewards for spending with their card. If you were to hold the TenX token however, you will receive 0.5% of rewards from the network. That is why I am still HODLing my TenX tokens.

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I would like to reiterate that I am in support of TenX because I like how they worked fast and got their card out rather quickly. Although some would call that reckless due to the issues with their card supplier. I would say that those are external issues. I just hope that they will be able to get their card out quickly. For now, I will continue HODLing and waiting for the time when I can get rewards from TenX's tokens. If you are keen to buy up some of their tokens, it is rather cheap at the moment, at about 64 cents. So do support this great project for the future adoption of cryptocurrency by the masses as well as some passive income.

If you would like to learn more, do head on to their site and social media. The links are below. Thank you for stopping by!

· Project Website: https://tenx.tech/en/

· Products & Services: https://tenx.tech/en/wallet and https://tenx.tech/en/card

· Wallet App: Android. iOS.

· TenX Team: https://tenx.tech/en/our-team/

· TenX Story: https://www.youtube.com/watch?v=OKhssqtezn4

· TenX Official Chat: https://chat.tenx.tech/home

· Facebook: https://www.facebook.com/tenxwallet/

· Medium: https://blog.tenx.tech/

· TenX Twitter: https://twitter.com/tenxwallet

· TenX Instagram: https://www.instagram.com/tenxofficial/

https://cryptobriefing.com/tenx-card/

https://coincentral.com/top-crypto-cards-tenx-monaco-centra-tokencard/

https://tenx.tech/en/

Many of the findings here are researched but are based on my own opinion. I welcome any debate and discussion but I am no financial adviser. As such, always do your own due diligence before selling your kidney to invest in anything.