What is Pundi X?
Pundi X (NPXS) is an Ethereum token with a mission to “make buying cryptocurrency as easy as buying bottled water.” By featuring an all-in-one mobile wallet app, users can easily buy and sell Pundi X using fiat currency or other cryptocurrencies, and also trade a number of other cryptocurrencies as well. It also accomplishes the same for retailers by offering an advanced Point of Service (POS) app that makes it easy to accept Pundi X and other cryptocurrencies for purchase payments. The design of its wallets and hardware are made to insure seamless, risk-free transactions between all members of the network, from wallet users, to customers, to merchants.
History of Pundi X
Pundi X was founded in September 2017 and is based in Jakarta, Indonesia. They currently have operations all around the globe in an effort to encourage a widespread userbase. CEO and co-founder Zac Cheah previously had several years experience working on in-browser and mobile game development. The rest of the core executive team is comprised of computer scientists as well as finance and legal experts.
The Pundi X ICO took place on one day only, January 21, 2018, and met its goal of raising $35 million. A total of 280.755 billion Pundi X tokens were created with approximately 88 billion released in circulation. After being listed on its first major exchange, it opened with a market cap of over $300 million, making it one of the most successful coin launches of all-time.
How Pundi X Works
Pundi X is an Ethereum token and as such, it enjoys the technology and security that underlies the Ethereum blockchain. Since their focus is on making cryptocurrency easier to use for beginners and those without much technological skill, their apps are developed with simplicity in mind. Pundi X’s own XPOS hardware acts as a Point of Sale processor, much like a credit card swiper or other POS system. The main difference is that it is connected to the Pundi X Network which features several services in order to aid in transaction processing. The team plans to sell between 100,000 and 700,000 within the first 3 years of operation in order to help create a widespread network of users. They are also pursuing a broad range of business partnerships to help bring value and utility to their network.
Why Pundi X?
Pundi X is largely based on the premise that much of the world has access to cell phones but not full computers. As such, it is heavily mobile-oriented, and features several new various kinds of apps to aid in the purchase and usage of cryptocurrency. Some of these include:
Pundi XPASS – wallet/exchange combo, used to store cryptocurrency securely as well as enable buying and selling it with “a single swipe.”
Mobile Payment Integration – wallets which support Pundi X can be used to instantly buy and sell other cryptocurrencies.
Top-up Supported – Pundi X mobile wallets can be instantly “topped up” using fiat payments from bank cards, replenishing wallets with NPXS instantaneously.
Point of Sale (POS) Solution – Pundi X’s POS Solution for businesses has been developed to support retail intelligence, inventory management, order management, marketing, and loyalty programs. It also allows for the establishment of customer credit history in order to reduce financial risks.