FXPAY - The utility Crypto Forex marketFXPAY - The utility Crypto Forex market
Forex: The buying and selling of currencies at fixed and flexible rates. This transaction is done by over a million people around the world and the transaction is done online between traders; the want of a suitable currency on the crypto economy brought about what became the biggest and the most flexible market in the ecosystem.
Forex also known as the foreign exchange market is a worldwide market that deals in buying and selling of currencies and also determine the exchange rate of the currencies.
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THE OBSTACLES OF PRE-EVOLUTION FOREX STRUCTURE
=> The charges imposed by the middlemen, traders and other agents of the transaction for depositing or withdrawing funds is exorbitant and with the high rate of business traffic on the system, middlemen do impose charges on the transactions done by their clients and this is an unattractive way of doing business because many investors won't see the essence of doing business and being charged extra fees,the funds gotten from the charges are usually in large amounts and this is really unnecessary as it is cancerous to the growth of the system.
=> Fluctuating charges from the middlemen is also another hurdle to scale in the FOREX structure, the charge rates are not stable, it keeps on increasing and this is not acceptable because exploitation of customers is bound to occur and this fluctuations occurs because there are no lay down charge limit.
=> The money exchange process is a complicated process with its own multiple bends,and it also takes a very long time to complete and this can dampen the business morale of traders who are involved in the transactions.
NEW EVOLUTIONS IN THE FOREX STRUCTURE
With the introduction of blockchain technology Into the FOREX structure, there have been evolutions in the system,they brought about displacement of the existing loopholes in the FOREX structure and effecting positive change. The following changes became effective in the evolved FOREX structure.
=>A new and improved platform is introduced to the benefit of the traders and middlemen and this platform also have new features such as;low transaction charges,increased speed rate of transactions etc. This evolution resulted to more profit to the traders and cost savings to middlemen who do transactions with liquidity providers.
=> FXPay is a good investment position that is intended to offset potential losses especially in a market like the cryptocurrency market that is highly volatile.
The traders then reinvest their crypto assets so as to avoid losses due to instability of the economy.
=> FXPay is set to start playing the role of premium broker,hence it will give brokers the ability to buy FXP(FOREX token) at the current market price and even give discounts. The middlemen can then decide how they want to sell their tokens,with the power of making gains and losses out of FOREX system custody; the middlemen can then sell to the traders at rates,decided by themselves.
The FXPay Niche
The FXPay inc. Seeks to create a business ecosystem that will be favourable for all the participants of any transaction done on the system or done with the FOREX token. They are going to be the premium brokers and deliver quality services with the aid of the blockchain technology.
UTILITY COIN
FXP is an important utility coin whose value is always on the increase as its usage is also on the increase,its to be used for different transactions being done in the cryptosystem.
PAYMENT GATEWAY
FXP also plays the role of the payment gateway, which performs a wide range of tasks which are aimed at bringing about smooth payments between Giving banks and receiving banks. It ensures validity of transactions and also secures the information being shared by parties on the system,it also allows instant transactions between middlemen and liquidity providers etc. As a result of this the current transaction charges lies between 0.5% and 1%.
DEBIT CARD
FXPay have also been involved with MasterCard and Visa to produce FXPay debit cards that will be used to make on the spot payments which will be debited from their FXP token account. MasterCard will be the primary producer of the card so as to give the card a worldwide usage.
The FXPay touches all areas of the financial market and it offers a lot of incentives to it's service consumers and stakeholders. So many Evolutions have been made in areas involving Bonus,partnerships and other areas of the system.
FXPAY TEAM & ADVISORS
The FXPay was a dream brought to life by the productive endeavours of Patrix Liu(founder and CEO),Ollie Adkins(advisor),Dhammarat(international law advisor) and some other professionals.
CONCLUSION
FXPay brings to investors improved technologies that will address shortcomings in the cryptosystem and bring cost effective remedies to challenges faced by middlemen and traders by bringing new opportunities and new speed rate of transactions among other innovations.
FXPay brings benefit to both to brokers and traders as the trader gets to exchange his FXP token at cheap rates and make more profit,and the broker get to use FXPay as his payment gateway and also be able to buy and then sell FXP token to traders.
For more information visit the links below
https://fxpay.io/
https://fxpay.io/pdf/FXPAY_V.1.5.pdf
https://t.me/fxpglobal
https://twitter.com/fxpayglobal
https://www.facebook.com/fxpayglobal
Author: Adan jumphoih
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