What Is TenX?

TenX is a cryptocurrency platform that recently completed its presale. Find out everything you need to know about TenX today in our review.

TenX, found online at TenX.com, is a cryptocurrency payment platform that consists of a wallet, physical debit card, bank account, ATM access, and more. Overall, the company wants to introduce products that make it easier for you to use your cryptocurrencies in the “real world”.

On June 14, TenX reached the target of its PAY token presale. They reached their funding goal of 100,000 ETH (around $39 million USD) in under 36 hours. The company is holding its TenX sale for the general public on June 24. Early investors in that sale will receive the same 20% bonus as they did in the presale.

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TenX is built on the Comit Network, the frictionless payments platform that could bring us a world with no financial transaction fees.

How Does TenX Work?

The main advantage of TenX is that it offers free spending and exchange fees. That’s a 0% fee. However, you’ll need to pay fees for physical and virtual cards, and there are spending limits in place. We’ll talk more about TenX’s fees down below.

To access the TenX platform, you’ll need to download the TenX wallet, which is available as a mobile app from the Play Store, or as desktop software from TenX.tech.

The TenX platform and the wallet supports blockchain assets across multiple blockchains. It supports Bitcoin, Ethereum, and DASH, for example, along with Ethereum ERC20 tokens. The company plans to add many more cryptocurrencies in the future.

Another key feature of the TenX platform is its decentralized security, which is based on smart contracts. You are a holder of the DSS key and you’re in full control of your funds. You can fine tune your security settings at any time with the smart contracts. You can adjust security settings for daily limits, portfolio spending, withdrawal settings, and more, for example.

Once you’ve setup the payment platform and wallet, you can start interacting with real-world products and services. TenX relies on the Comit Network for these services.

What is the Comit Network?

The Comit Network, found online at Comit.network, is a cryptographically secure off-chain multi-asset instant transaction network.

I won’t get much into the technical details of the Comit Network here, but you can read their whitepaper here. Essentially, it’s a payment platform that “can provide the same final and elegant solution as the internet did for information”. It promises to provide frictionless, cheap payments for users all over the world, including true global access without limitations to any asset or business process connected to the blockchain.

TenX relies on this seamless payment platform for its network. The TenX payment platform (including the debit cards, ATM, bank accounts, and wallet) interacts with the Comit Network to provide ETFs, exchange services, lending solutions, and security.

TenX is actually built on the Comit Network.

TenX PAY Tokens

Why hold TenX’s PAY tokens? The tokens have the potential to be a big moneymaker for token holders: for every transaction, the token holder receives a reward in the form of ETH. 0.5% of the transaction goes to TenX token holders. Additionally, token holders receive 0.1% cash back rewards in the form of PAY.

TenX Fees

TenX offers a surprisingly straightforward fee structure. Here’s how much you’ll pay for the various TenX services:

Who’s Behind TenX?

TenX was created by a team that includes Toby Hoenisch (Co-Founder and CEO), Michael Sperk (Co-Founder and CTO), Paul Kitti (Co-Founder and COO), and Julian Hosp (Co-Founder and CVO).

The company has received investments from Fenbushi Capital and ICH.

TenX has headquarters in Singapore and in London.

Convert and spend your virtual currencies in real life

The TenX wallet and card* have been tested by well-known figures in the industry with payments in 50 countries across the world. Available now on iOS, Android, and the web.

Real-time, transparent rates

What you see is exactly what you get. No complicated fees. Use blockchain assets with the same convenience like your local currency. The minimum fee lets you convert and spend your assets with your mind at ease whether locally or when you are abroad.

Fees Table

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TenX supports blockchain assets across multiple blockchains. We currently support Bitcoin. Ethereum, Ethereum ERC20 Tokens (DGX, REP, TRUST, ANT, etc.), and DASH are in closed beta testing.


You are the holder of the DSS key and in full control of your funds. You can fine tune your security settings at anytime with the smart contracts. From spending limits, Daily Limits, Portfolio Spending, Widthdrawal setting etc.


The platform connects assets and businesses on blockchains to the real-world in a decentralized manner. Developers can develop security smart contract modules, businesses can connect their users and usecase to real-world payments.

Getting Started With TenX

TenX Pte. Ltd. is a Singapore based company with strong industry support having graduated from the PayPal startup incubation program. The team also won first place at the DBS Blockchain Hackathon as OmniChain.

Our claim to fame is the TenX card, a multi-blockchain debit card tied to a mobile wallet that allows users to spend their crypto-assets anywhere in the world, online and offline, without incurring forex or transaction fees. In mid 2017 we successfully completed beta testing with 1,000 users in Singapore as well as further beta testers in all major countries. Today we have thousands of users worldwide, and are onboarding more users daily.

Where can I use my TenX card?

You can use your card at anywhere where Visa is accepted. Not included are US-sanctioned countries. Issuing cards in the US is part of our road map, but cannot be supported initially. You can view all countries we do ship to (and do not ship to) here: https://www.tenx.tech/fees.html

Are there any fees for using the TenX card and app?

Issuing Fees

There is a $15 issuing fee for new physical cards that covers issuing and shipping costs. In addition, if you activate the virtual card (when the feature becomes available) there is $1.50 issuing fee.

Annual Fees

There is a $10 annual fee associated with the physical card and a $10 annual fee for the virtual card. These fees will be waived if you spend $1,000 or more during the year.

Foreign Exchange Fees

TenX does not charge any forex fees for your transactions.


A $2.75 transaction fee will be levied for every ATM transaction. Please check to ensure that your wallet has enough money to cover the withdrawal and the ATM fee, otherwise the withdrawal will be rejected.

How do I pay the fees associated with ordering and using the card?

Fees will be deducted from the cryptocurrency stored in your TenX app wallet. We are currently not accepting or storing fiat.

Do I have to store my PAY tokens in the TenX wallet?

You do not need to hold PAY tokens in the TenX wallet exclusively — they can be stored in any ERC20-enabled wallet! Storing your PAY tokens in your TenX wallet does not confer any additional benefits beyond making your PAY tokens spendable via the TenX card.

How do I purchase PAY tokens?

With the closure of the token sale phase on 24 June 2017, TenX no longer sells PAY tokens directly.

You can purchase PAY tokens on the open market at cryptocurrency exchanges where PAY is listed. More and more exchanges are listing PAY every week. For an up to date list of exchanges that list PAY, please refer to Coinmarketcap.

Where should I store my PAY tokens?

For long term storage, we highly recommend storing your PAY tokens in an ERC20-enabled wallet to which you control your private key.

TenX recommends using the following wallets because they provide support for the PAY token natively, without requiring extra configuration on the part of the user.

Note: The TenX wallet does not currently have ERC20 functionality, and thus cannot yet be used to store your PAY tokens.

How To Get A TenX Wallet?

The TenX Wallet is the major game changer as it enables users to spend their blockchain assets through their smartphone or a physical debit card at over 36 million points of acceptance online and offline.

The TenX App (called the TenX – Blockchain Asset Wallet) is downloadable for free on Android and we aim to launch the WebApp and iOS versions from July and August 2017 respectively (with the specific launch dates being subject to achievement of the relevant milestones in the TenX Initial Token Sale, as explained below).

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Once the user has downloaded the TenX App, he simply enters his phone number and email address to set up an account.

tenx coin

A multi-currency wallet will be created automatically, which the user can then fund with different cryptocurrencies. The private key to each TenX Wallet is currently secured via an industry-standard hot & cold storage solution. By the end of 2017, we will directly link the TenX Wallet to the COMIT network, thereby allowing users to store their own private keys.

tenx coin

The cryptocurrencies do NOT need to be converted to fiat money until an actual transaction happens, in which case such conversion will be conducted in real-time. The user can choose between different blockchain assets as a source of payment within the TenX App. Further, the user can conveniently convert a wide range of blockchain assets such as BTC, ETH and DASH from one to another by simply using his TenX Wallet.

tenx coin

The user can choose to order a TenX Card, a virtual and/or physical debit (and in time to come, credit) card, directly within the TenX App. As a security measure, we allow a user to lock and unlock his card through the TenX App. This makes our system more secure than traditional credit and debit card systems.

tenx coin

The user can withdraw his blockchain assets and transfer them to another cryptocurrency wallet without incurring any fees for such transfer at any time.

Product advantages

TenX Resources

How To Buy TenX?

Cryptocurrency is that slow and steady technology that is making its way up the rungs in the current market. Initially, the rise was discrete, but its exponential valuation is now raising the question of exchange. This is where TenX comes into play as it enters the race to develop one of the best crypto debit cards.

TenX has developed a debit card system funded by cryptocurrencies with a mobile wallet accompanying it. The wallet and card are interlinked and is compatible with any crypto-asset.

Now, all cryptocurrency accounts are maintained via a block chain. Blockchain technology requires a public ledger to be updated and thus it needs to be connected in a decentralized manner.

TenX uses a protocol known as COMIT for this purpose which is secured to offer transactions off the blockchain and using multiple crypto assets instantly.

TenX is configured to be used in 200 countries with an aim to support its mobile wallet on all Android and iOS platforms. It has partnered with Visa and Master Card thus branding itself and ensuring hassle free transactions. Credit card companies generally charge their merchants 2% of the total transaction amount to generate revenues.

TenX, on the other hand, generates its revenue via a revenue share basis with its card holders. All token holders will receive 0.5% of the whole transaction value done through the TenX debit card. The payments will be made in Ether crypto asset.Thus more the transaction volume greater is the revenue.

TenX, on the other hand, generates its revenue via a revenue share basis with its card holders. All token holders will receive 0.5% of the whole transaction value done through the TenX debit card. The payments will be made in Ether crypto asset.Thus, more the transaction volume, greater is the revenue.

An important point to understand here: It is not about more number of users, but about more volume of transactions.

A common question is raised about every technology that comes into play. The question is: What problem is TenX solving?

To answer this, we must first consider the risk factor that comes with virtual currencies.

The risk factor here is the volatility and the liquidity.

It is expected that 99% of the businesses all over the world will not accept cryptocurrencies as payment. Thus, currency exchange through a centralized exchange bank needs to be done which will take days. This is where TenX helps by immediate conversion of a crypto asset to fiat (government issued currency) when a transaction is done using its debit card.

TenX presently supports Bitcoins, Ethereum, Dash and all other crypto technologies with Bitcoins and Ether as its major players. In short, TenX is one of the biggest ICO (Initial Coin Offering) launched till date.

Have a look at this chart to understand how TenX is different from WireX & Xapo, Monaco or TokenCard.

tenx coin

Buy TenX (Pay) Coins

Where to store TenX Pay Tokens?

Once you have bought TenX, it is always recommended to shift it to a wallet.

a. TenX wallet for iOS: TenX wallet for iOS version is now out and you can store you Pay tokens there.

b. MyEtherWallet: You can also store your PAY tokens in your MyEtherwallet.

Latest TenX News

More Attempts to Bring E-Commerce to World’s Two Billion Unbanked

tenx coin

Taking e-commerce to the unbanked seems to be getting easier as the number of merchants embracing cryptocurrencies is increasing. From Overstock to Steam, Newegg to Edeka, many merchants are changing buyers’ user experience globally by leveraging the ease-of-use of digital currency.

This is partially fueled by an increase in the number of vendors registering with BitPay. That service allows merchants to accept Bitcoin but immediately be credited with cash rather than having to deal with the volatile digital currency themselves.

Things are improving on the consumer side too, with the increasing number of crypto-based debit cards. These make it possible to spend digital currency in the virtual shops of merchants who don’t directly accept it, by automatically converting a user’s cryptocurrency balance to fiat and using that to pay vendors.

In this environment, there are startups seeking to make things even easier and cheaper, eliminating as many middlemen as possible from digital currency transactions. So far, the introduction of crypto-backed debit cards has been pioneered by companies such as TenX and Monaco and it has changed several new users’ perspective about how easy to access digital currencies for everyday use.

Both Monaco and TenX make crypto spending easier for customers by offering a multi-currency debit card. Instead of a Bitcoin debit card, a Dash debit card, and so forth, both Monaco and TenX allow users to deposit various cryptocurrencies and access them with one single debit card. When it comes time to make a purchase, the appropriate amount of digital currency is instantly sold and the funds are transferred to the merchant seamlessly.

Centra is another startup aimed at helping bring e-commerce to the unbanked. It offers a multi-currency debit card along with a platform to connect buyers and sellers in a low-fee environment.

Other attempts have been made to cut out cross-border inefficiencies in the remittance space and decrease the number of intermediaries required in the legacy banking system. It is yet unclear whether these services will be successful in their endeavors. However, it is clear that whoever succeeds at making e-commerce available to a world where over two billion people are unbanked individuals will reap unparalleled rewards.

TenX PAY Tokens Are Tradable on Bittrex

tenx coin

The Singapore-based Blockchain company TenX which received over 200,000 ETH in their token sale end of June has announced that their PAY token will be moveable and tradeable on one of the largest crypto-exchanges in the world, Bittrex, this Friday (July 7th) at 4 p.m. UTC.

In total, there will be close to 205 mln PAY tokens that will become moveable, without anyone being able to do so before. This will provide an equal playing field for sellers and will give buyers a fair purchasing opportunity.

The team explained that they would start exclusively on Bittrex to provide maximum liquidity in one single place.

ETH rewards

Each PAY token is entitled to receive a part of the rewards from the entire TenX purchasing revenue, similar to how staking happens in other cryptocurrencies.

However, PAY tokens kept on an exchange will not be entitled to this reward.

TenX advises that users should, therefore, consider keeping their tokens in a wallet if they don’t plan on selling them and would want to receive ETH rewards, which will start being paid out soon afterward.

The Road Ahead

Anyone interested in buying the tokens should prepare their accounts and have funds ready on Bittrex ahead of time.

Over 30,000 people ended up empty handed after the token sale, and this will be a second opportunity for them to acquire PAY tokens once they trade on the exchange.

TenX originally had planned to have PAY listed on an exchange only by the end of July.

Julian Hosp, co-Founder and CVO of TenX, says:

“Working with Bittrex ahead of schedule at the beginning of July once again reaffirms TenX’s philosophy of under-promising and over-delivering, and sheds a positive light at the road ahead.”

TenX, which we have covered in a previous article, is a Singapore-based fintech company that makes cryptocurrencies spendable anytime and anywhere, by offering a debit card payment system to its users on the frontend, and by connecting Blockchains at the backend through the Commit Protocol.