Cryptocurrencies are rapidly becoming extremely popular with more and more currencies being developed and consumers increasing exponentially. Blockchain has given us Currencies like Bitcoin and Ethereum, but an issue still exists. One that is concerned with the conversion of assets and adaptability - a situation described as “nice to own but difficult to spend”. This relates to the difficulty in converting digital assets into physical currencies like the US Dollar.
FuzeX is an innovative payment solution that intends to solve the cryptocurrency usability problem through the FuzeX ecosystem. The essence is to make fiat and cryptocurrency easily interchangeable, make more cryptocurrencies easy to spend through the integration with the merchant-friendly FuzeX ecosystem.
⭐️ About FuzeX Card
Spending cryptocurrencies sometimes present challenges. This is due to the fact that there are limitations in their scope of acceptance among merchants. Also, it requires some processes in converting them to forms that are universally acceptable. This is because the level of adoption is still minuscule due to the novel nature of the innovation.
Therefore, holders of coins are sometimes faced with the problem of spending them on goods and services they desire to purchase. There are times that the vendor may not even be aware of the existence or value of digital currencies necessitating conversion to fiat before making purchases.
Other times, financial institutions have been known to place restrictions on accounts associated with digital currencies causing holders to find it difficult to make coin-related transactions. Payment processors such as VISA and MASTERCARD also have been known to place embargo on cryptocurrencies, suspending support, thereby creating a need for platforms that are not just crypto-friendly but capable of full support of a wide range of digital assets.
Due to these challenges, the process of spending digital coins is mostly not straightforward. Many holders of these virtual assets typically convert them to fiat before making purchases, which undermines the entire process of a digital token economy.
Even with the effort made by some fintech startups through the introduction of debit cards with crypto-supporting abilities, the use cases of these are limited in the sense that the number of coins supported by these cards are few. This still hampers wider adoption of currencies and necessitates an introduction of payment platform that supports a wider range of digital coins.
Fuzex cards have following features that help to reach to the customers very quickly. They distinguish the Fuzex card from the existing cards in the market. They are,
Storing and managing, up to 30 credit, debit, reward and cryptocurrency accounts
Being able to do all the functions on the Fuzex card itself. Eg. Buttons to power on/off, entering pin codes, making the selections, authorization of payments.
Using E-Paper Display (EPD) to view the balances across accounts
Being available, barcodes for reward card scans, and QR codes for blockchain addresses
Being available EMV (IC Chip) for multi-cryptocurrency payments
Being available Near Field Communication (NFC) for credit and debit card payments
Barcodes for reward payments
In the case of P2P transfers, there are QR Code for cryptocurrency wallet addresses
Ensuring security by the Bluetooth connection between FuzeX Card and FuzeX Wallet
Clearing data from the FuzeX Card by using Remote wipe technology
Having battery life between 45~60 days
Having a sleek, slim, rechargeable portable battery bank
Having a smart card
Having hosted wallet and Smart contract
Due to these factors, there is a high barrier to entry for the competitors. Therefore partners of this project also can be benefited for a longer period of time. Not only that, they can pay for their Tokens through FuzeX Card. Thereafter, they can access and offer tokenized services to FuzeX Card holders, FuzeX Exchange users and FXT Token holders. Finally, the partners of this project will be given a strategic price for their FuzeX Card if they are inside the ecosystem.
Further, the FuzeX Card offers the following benefits to its FXT Token Holders.
Ability access a variety of services through FuzeX Ecosystem using their FXT Tokens
Saving of time and fees since FXT Tokens can be exchanged freely in the FuzeX Exchange for other partner tokenized services
benefit from a more competitive pricing structure
benefit from deals specifically targeted to FXT Token holders
befits from the strengthening of the exchange rate of FXT Token
Accordingly, these FuzeX cards provide benefits to cardholders, partners, Token Holders and Merchants as well. Therefore it is widely accepted and well established.
⭐️ Comparison with competitors
Fuzex supports more currencies and is still expanding its range as compared to others like TenX.
It uses a Hosted Wallet and Smart contract system as compared to Token Card that uses just the Smart Contracts.
Fuzex Card is a debit card whereas the other cards available are all pre-paid cards.
There are no transaction fees for holders and the barrier of entry for competitors is very high.
⭐️ For further information
Website: https://fuzex.co/
Twitter: https://twitter.com/FuzeX_co
Facebook: https://www.facebook.com/FuzeX.co
Whitepaper: https://fuzex.co/wp-content/uploads/2018/01/FuzeX_whitepaper.pdf
Telegram : https://t.me/FuzeX
⭐️ About Author
Bitcointalk Username : Lucifereya
Bitcointalk URL : https://bitcointalk.org/index.php?action=profile;u=1352423
MEW Address : 0x6de8F6D2f7E2CD5A28cB582a94a94CE8Fd46f93c