TenX | Comparison with Crytpo.com (Monaco) and Centra

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The major hindrance that keeps this dream from coming to fruition is the unavailability of a service that is solely dedicated to taking the use of cryptocurrency in a more tangible manner mainstream. Some others have tried to offer payment services but for some reasons, they haven’t been able to take the idea mainstream. Such companies include; Centra, Monaco, WireX and Xapo and on the other hand, we also have a company like Omisego taking care of the merchant side of the payment system for cryptos. These will all bring great things to the world of cryptocurrencies. I would like to write short descriptions of some of these projects so you can see which one is more flexible and easy to use. By the end of this article you’d also find out which one of them would be the most suitable to use while accessing specific services;

The Monaco project is a close competition to TenX with respect to their market cap when they started out. They have a native token that’s built on the Ethereum blockchain just like TenX. Most of the features and products of Monaco are branded. It uses the Visa and MasterCard networks as its payment processor. Monaco provides both credit and debit card services to its users.

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Monaco charges no monthly or annual fees. Each card they issue has a 2% ATM but once a user exceeds the monthly limit more cost would be incurred which varies from one card to the other. Monaco has four different types of cards; Midnight Blue, Precious Metal, Obsidian Black and Ruby Steel. All these cards are distinct and have different capabilities and benefits.

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Monaco also offers some incentives to users in form of reward on the card usage. Both the Ruby Steel and the Precious Metal cards have a reward of 1% and 1.5% respectively. However, the Midnight Blue has no rewards. The Obsidian Black has the highest reward (2%) and the lowest issuing fee which is about (50,000 MCO). The reward ranges from one card to the other and in the order of the payment for each card for a period of six months. All payments will be made in the denomination of their native currency.

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The Monaco cards haven’t been made available to the public yet. Once the service becomes fully operational, the use of Bitcoin and Ethereum will be supported and of course, their native token – MCO.

Centra has its own chain known as the Centrachain and this allows the building of other decentralized applications and tokens that can be supported by the Centra ecosystem. Centra offers three different types of cards, unlike Monaco that offers 4. They have the **Centra Blue, Centra Gold** and **Centra Black** the issuing fee for each card varies from the others. Each card also has its own limitations and reward compared to the others. The Centra cards have no spending fees attached to them. However, there is a $2.5 ATM charge for US dollars withdrawals and $3 ATM charge and an extra 1% charge for other currencies.

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Holders of these cards enjoy additional rewards depending on the type of card they have activated. The Centra Blue gives a 0.2% reward, Centra Gold is a 0.5% reward and as for the Centra Black holders, Centra gives a different category of reward which hasn’t been disclosed so far.

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There is no formal update with respect to the availability of these cards. A report came a few months ago that the two founders of the project have been arrested. However, the cards were made available to ICO contributors at some point. The promise was that it would support Bitcoin, Ethereum, Dash, Litecoin and more. No one is sure about the future of the project since the arrest of the two founders.

TenX initially had the largest market cap among others of its kind but now behind Crypto.com’s (Monaco) MCO. I believe this may have as a result of the team’s inability to meet the promised deadline of launching in the first quarter of 2018. Let’s quickly take a look at the technology behind this amazing project which in my opinion will be the most feasible and sustainable of all in its space. TenX leverages on the COMIT network which is a routing protocol that serves as a means of connection for many blockchain projects.
TenX also has a native currency, the PAY token which is trading for about $0.6 currently on CoinMarketCap.

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Their debit cards, though currently not available are the cheapest so far. The delay in delivering the TenX cards is as a result of the change of their card issuing partner. The fees are also encouraging and relatively cheap while comparing with others such as Monaco, Centra, WireX and others.

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TenX cards are $5 to order and the virtual card and cost $1.50 to activate them. However, they charge an annual fee for each type of card and this could vary if you spend above the sum of $1000 during the year. TenX also charges a $2.5 ATM fee for withdrawals. The charges remain the same irrespective of the currencies being used.

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Holders of the TenX card will be given a 1% reward on every purchase they make using the cards in the PAY token denomination. In addition to this, all token holders will enjoy a percentage share of the 0.5% of the network’s transaction volume (this reward is received in Ethereum).

TenX uses the Visa network, this means that the card will be accepted even outside the US in all places where VISA cards are accepted. They stopped issuing more cards since they lost their card issuing partner (WaveCrest). Their wallet currently supports Bitcoin, Ethereum, some ERC-20 tokens and Litecoin; more will be added in the future.

Take a look at the comparison extracted from their whitepaper to see this in a clearer form.

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If I were to choose one of these three amazing projects, I would go with TenX. It is cheap, easy to use and will be available in most countries. Thank for the reading, I hope you are able to get some helpful information from this. This is Bait and I’m bringing you words from the Offline Minnow School.