Cryptocurrencies are getting popular with every passing day. One of the biggest reasons for the popularity of cryptocurrencies is insane price rise that they have been experiencing over the past few months. Names such as Ripple grew by 36000% in the last year and Ethereum grew by 9000%. This led to a number of investors putting their money into cryptos. However, despite being seen as a major investment opportunity, cryptocurrencies are yet to be used as a means of payments and transactions.
MoxyOne is an Australian startup which intends to help make cryptocurrency payments mainstream! While there are some companies and retail stores which do accept cryptocurrency payments, it is still largely an online market. MoxyOne intends to introduce cryptocurrency powered debit cards which would allow users to make crypto payments to vendors for day to day shopping.
MoxyOne provides a simple and easy to use financial infrastructure that can be adapted by retailers and vendors with ease. MoxyOne also provides a wallet, as well as a virtual debit card. MoxyOne helps make crypto to fiat payments by swiping their Debit Card! Basically, the buyer would be making payments in cryptocurrencies while the merchant would be getting fiat payments.
These cryptocurrency to fiat payments are made possible with the help of SPEND tokens - which are the native tokens of the MoxyOne platform. Cryptocurrencies would be stored on the MoxyOne wallet, which supports multiple currencies. Upon making a transaction using the MoxyOne Debit Card, cryptocurrencies would be converted to the SPEND tokens and these SPEND tokens would then be sent to the merchant’s wallet, where they get converted into fiat currencies.
In addition to helping make these cryptocurrency to fiat payments, the MoxyOne Debit Card can also be used as an ATM card to withdraw cash from ATM machines! MoxyOne claims to be a bridge between fiat and cryptocurrency economies. MoxyOne also makes use of Artificial Intelligence powered technologies, called the MoxyAI which determines which is the best cryptocurrency to make the payment using, based on the current price of the currency.
In order to set up this infrastructure at a bigger, global scale, MoxyOne is looking forward to raise funds using an Initial Coin Offering (ICO) token sale. To participate in the ICO, a KYC process needs to be completed and a payment of 0.01 ETH needs to be made. This ICO will be live till the 14th of April, 2018.
The company aims at raising a minimum of 4000 ETH tokens. Those who invest within the first 24 hours would get a 40% bonus as well. The SPEND tokens would be immediately sent to all ERC20 supporting wallets. The bonus would arrive at a later date. For more details on the MoxyOne ICO token sale, as well as to participate in the ICO - head to https://moxy.one/token-sale.
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