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.
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.
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.
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.
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.
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.
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.
An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.
There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.
Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.
If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.
Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.
The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.
The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.
To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.
There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.
If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.
There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.
To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.
Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.
Learn how to exchange cryptocurrency with the lowest fees or zero fees as well as how to find the best crypto exchange rates and choose the safest cryptocurrency exchange provider.