What Is Pundi X and How to Exchange PUNDIX at the Best Rates?
There is something about Bitcoin that some developers just feel isn’t enough. We have seen developers come up with solutions to issues that plague the Bitcoin network. Some modify Bitcoin’s code itself while some even come up with new blockchain solutions altogether. Of those that come up with a new blockchain solution to address Bitcoin’s apparent issues is the Pundi X blockchain protocol.
Pundi X comes with the goal to commercialize the usage of digital assets after the founder of the protocol indicated that BTC doesn’t have real-life applications and crypto is generally losing its relevance in terms of real-life use cases. So, to this end, the protocol introduced a blockchain-based Point-of-Sale (POS) that can grant cryptos more relevance.
What is Pundi X?
Pundi X is a project that strives to make spending cryptocurrencies as easy as using your debit/credit card through its blockchain-based POS devices. Apart from removing third parties standing between consumers and retailers, the developers at Pundi X believe that the protocol will introduce vital financial services to a lot of people in the developing world and make access to such services simpler.
Pundi X has a huge ambition of making crypto as easy to use as buying a soda and its mission statement makes that clear as daylight. It states “making it possible for business and users to obtain and utilize cryptos at any time in any place”. The whole of this ideology is wrapped around Pundi X Point-of-Sale devices. The model used by the protocol enables merchants to transact and record their transactions straight on the blockchain network via Pundi X POS devices and removing their dependence on third-party traditional credit card services.
Pundi X was created in 2017 and had its initial coin opening in 2018. It was the pioneer Point-of-Sale blockchain solution in the world. Its successful ICO was followed by the launching of several Pundi X projects focused on retailing such as XWallet, XPOS, XPASS, and BOB – the first blockchain phone in the world.
The project headquarter is in Singapore and it has been able to send its blockchain XPOS devices to more than 25 markets that include Taiwan, Colombia, Korea, Spain, U.S.A, Argentina, Australia, and Spain.
Why was NPXS rebranded as PUNDIX?
The initial token of the Pundi X blockchain network was NPXS coin before it was rebranded to PUNDIX. The swapping of the NPXS coin to the Pundi X coin started on March 30, 2021. The name PUNDIX was chosen as the token ticker for the protocol based on the response from the Pundi X community.
The rebranding was necessary to introduce new features that were not available to old NPXS crypto. These features include token staking, token reduction at the ratio of 1000 NPXS coin to 1 Pundi X token. The protocol announced that swapping of the old coin for the new one will be supported for up to one year. Additionally, the Pundi X crypto supply is fixed and unmintable.
Key features of PUNDIX
Through its XPOS, Pundi X crypto is focusing more on retailers to help them eliminate third-party credit card services and migrate to blockchain-based solutions. The POS device will allow merchants to complete transactions in seconds and have those transactions done in several types of crypto including Pundi X coin.
The PUNDIX ecosystem is created around several blockchain solutions that the protocol has to offer such as XPASS, XWallet, and XPOS. The ecosystem runs PUNDI X token and NPXSEM to power rewards, incentives, transactions, and payments.
- XPASS cards: create frictionless transactions that allow you to buy and sell in just a single swipe.
- Mobile payment integration of the XWallet: covers several types of cryptocurrencies.
- Top up your digital wallet using bankcard or fiat currencies.
How Does PUNDIX work?
The protocol works through a combination of contactless smart card technology and a mobile application based on a blockchain network created by Pundi X. The goal is to allow cryptocurrency payments at the retail level through POS devices from Pundi X.
The Pundi X network has embarked on the global distribution of its protocols to make sure the network expands rapidly. To foster adoption, it ensures the delivery of free hardware to its target audience. The project initially targeted Indonesia’s retail market for its blockchain solutions. However, Pundi X has then expanded to have its presence in over 30 countries in the world.
The whole project was aimed at reducing the complexity of the blockchain network found in cryptocurrencies like Bitcoin when users want to use them for other things aside from crypto trading. With that in mind, PUNDIX is setting up crypto for mainstream adoption for payment methods of goods and services in retail outlets. To achieve this the protocol introduces its native cryptocurrency NPXS token that has now been rebranded to PUNDIX token.
Other components that were introduced aside from the native token are the protocol digital wallet, smart card, and the Pundi X platform that retail merchants can link their POS terminals with to allow crypto payments at their outlets.
Difference between Pundi X and Bitcoin
The key area where Pundi X’s NPXS crypto coin is different from Bitcoin is the complexity, which PUNDIX is hoping to solve with its project.
The creators of the Pundi X coin believe Bitcoin is too complex for average users to comprehend to use it. Things like managing public or private keys and other blockchain concepts may be out of the reach of the comprehension of an average user. Pundi X believes users should be able to use crypto in their daily payment activities without the need to understand what is going on under the hood. The way people are able to use smartphones without the need for technical manuals.
All this hurt the ability of the crypto-friendly retail merchants who are the first point of contact for consumers to use crypto for daily buying and selling activities of everyday products and services. This is what Pundi X Is aiming to correct by making cryptocurrencies easily accessible.
Why is Swapzone the best place to convert PUNDIX?
Converting your asset to PUNDIX can be done easily on Swapzone. You can trade NPXS crypto on the NPXS exchanges that Swapzone will compile for you or if you want the new PUNDIX coin, there’s also Pundi X exchange pairings.
Step 1. Visit Swapzone and select the suitable Pundi X exchange for you.
Step 2. Select any Pundi X coin pairing from the list of tokens. Swapzone will pull up all the NPXS coin exchanges regarding the selected token pairing.
Step 3. Input the amount of currency you want to exchange, then you can select the Pundi X exchange that suits you by clicking on the “exchange” button.
Step 4. Input the address where you want to receive the crypto.
Step 5. There is also an option for a refund address, which is the address where the asset you are swapping for the cryptocurrency will be refunded to incase of any issues.
Step 6. Once done, you click on the “proceed the exchange” button to carry out the exchange.
Step 7. Don’t forget to leave a review and rate the exchange provider to let us know about your experience.