XferMoney is a secure and transparent currency platform (P2P) developed in the Ethereum chain of blocks that allows instant and reliable international transactions. This platform was designed to change and replace the traditional form of money transfers by establishing an immediate connection between users to exchange money and avoid the use of intermediaries, banks or brokers, in addition to the costs involved.
Xfermoney is a token based on ethereum blockchain with security and transparency between peers (P2P). Xfermoney itself is involved in the field of currencies that we can exchange our money in a very secure, fast and transparent way. Xfermoney will certainly make it much easier for us to change our currency when we want to travel abroad. we don't need to take too long at the bank just to change our currency. Xfermoney will be a very good solution to solve the problem, in addition to currencies. Xfermoney also has a multi-currency debit card, so we can store our currency in a card as a debit card.
Characteristics
Market Opportunity
With a $2 trillion economy that includes $600 billion in remittances and $1.4 trillion in retail currency conversion by travelers, Xfermoney will replace the traditional form of money transfer by connecting participants directly and reducing the costs associated with the intermediary.
Market Advantage
The first to carry the P2P trust delivery platform in blockchain gives Xfermoney a clear advantage and is ready to become the leader in this space with its highly experienced team.
Unbeatable Exchange Rates
Both buyer and seller enjoy the current exchange rate and the same, which makes it the best rate with zero spread.
Lower Transaction Fees
The platform's minimum fee with zero exchange rate differential makes transactions lower in cost.
Faster than ever before
Real-time and instantaneous funds transfers.
Insurance Insurance Insurance
All transactions are executed through blockchain, which makes it secure and provides full transparency to customers.
Customer Service
Customer service with live online chat service to provide faster response to all customer inquiries.
24/7 Availability
24/7 platform availability, accessible worldwide.
The Problem
All currency exchanges are made through third parties such as banks, brokers and other intermediaries. This increases the costs, time and complexities of the process. Normally, private consumers generally have to pay a very high price for having the benefit of exchanging one currency for another.
For the foreign exchange world, the world's leading banks that engage in $5 trillion a day foreign exchange trading reserve the best interest of their most important clients, such as large corporations, governments and institutions. For these clients, the spreads on trading operations are very small due to the competitive nature of the foreign exchange business.
However, retail customers, and partly small and medium-sized enterprises (SMEs), have long faced significantly higher prices due to the power of established intermediaries (i.e. banks) and the absence of other alternatives for currency exchange. However, they now have a sustainable and much cheaper alternative in the form of peer-to-peer (P2P) currency exchange networks.
In the meantime the P2P Forex platform has started to sell in the market, who claim to charge a very nominal fee. However, our evaluation shows that even in this process the customer must pay a global transfer fee of 0.75% non-nominal. In short, no one has made the democratisation of this reality a reality and there is still a lot of work to be done so that retail customers do not have to worry about this money transfer.
Functioning
With XferMoney, everyone can send money abroad and it works in a few steps. A user (Sender) opens an account at XferMoney and deposits money in their account in local currency. Then place an order in the desired currency with a designated account in the foreign country, then XferMoney matches the order with other users with orders in the opposite direction and processes the transaction. The recipient (account designated by the sender) receives the money via local XferMoney transfer, the same applies to orders in the opposite direction.
Multi-currency Debit Card
XferMoney will bring a multi-currency debit card and all customers will open an account with XferMoney to access it. Customers with the debit card will be able to spend money abroad as their local currency in whatever they have in their XferMoney account.
Mainly, customers who do not have a bank account abroad, for example, tourists, travelers will enjoy the benefits of our multi-currency debit card as they can convert their money and spend it abroad at no cost.
For example: the client in Australia opened an account with XferMoney, deposited the amount in AUD and then converted their AUD amount to EUR. You can now spend the amount in Euros with your XferMoney debit card in countries that accept the EUR as their primary currency at no charge.
Objective
The main objective is to provide retailers with the opportunity to exchange money globally with other people, businesses or their own accounts in another country at minimal cost. This should benefit all those who have paid high fees to existing banks, institutions or brokers to transfer funds to other countries. Experience in the software development, block chain and currency market industries allows us to create a P2P solution to benefit end consumers and improve currency exchange security around the world.
Route Map
Q3 2017
Incubation of ideas, market analysis and feasibility analysis, team building.
Q4 2017
Launch of the Whitepaper, Architecture and Platform Design.
Q1 2018
XFM token offerings, brand recognition, exchange listing, platform development, Q2 team expansion.
Q3 2018
Platform development, regional licensing and approvals
Q4 2018
Alpha Release, Basket 1 Currency Pairs.
Q1 2019
Beta Launch, BASKET 1 and 2 currency pairs Q2.
Q3 2019
Launch of multi-currency debit card, support for new currency pairs.
Token
Symbol: XFM
ICO period: 16 February 2018 to 31 March 2018
Total XFM supply: 250,000,000,000,000
Distribution of sales: 87,500,000
Selling Price: 1 ETH = 8000 XFM
Selling Price: 1 ETH = 8000 XFM chips
Maximum collection limit: 5M (USD)
Team
Sumit Kumar Founder / CEO.
Shivam Kumar Technology Leader.
Dipankar Mishra Major Business.
Gaurav Jha Technology consultant.
chetas Sankhesara Senior Software programmer.
Vipin Goyal Resource Manager Project.
Important Links
Website: https://xfermoney.io
White Paper: https://xfermoney.io/wp-content/uploads/2017/12/XferMoney_Whitepaper_1.0.pdf
ANN: https://bitcointalk.org/index.php?topic=2667864
Facebook: https://www.facebook.com/Xfermoney-136308600385196
Twitter: https://twitter.com/XferMoney
Telegram: https://t.me/xfermoney
Reddit: https://www.reddit.com/user/xfermoney
Medium: https://medium.com/@xfermoney
Author
bitcointalk user: Criptosistemas
Profile: https://bitcointalk.org/index.php?action=profile;u=1425520
Myetherwallet: 0x10aF61e98fB8264d9dc653a32D60319591B303bf