Cryptocurrencies are sweeping the world, threatening to undermine established currencies and monetary system, but they have an Achilles heel. That Achilles heel is high costs, something which is preventing digital currencies from making a serious, credible threat to established currencies. Few digital currency platforms have looked to fill the void and make payments and transfers easier; few that is until Paypex (PAYX) came along.
But what is Paypex?
Founded with easing the payments and transfer cost-bottlenecks that exists in the blockchain ecosystem, PAYX has emerged as the answer to the problem of burdensome costs. Its founding ethos builds it up as a platform that empowers and enhances payment systems. PAYX was built on the Ethereum blockchain and the notion of smart contracts, the latter being the accepted standard of digital and financial communication among users, traders and investors looking to capitalize on the explosion of digital currencies.
PAYX has promised to increase the efficiency of transfers whilst simultaneously decreasing the cost of money transfers. Developers have also created a system aimed at facilitating easier cross-border payments in an instantaneous environment.
The intricate working and integration of Paypex with existing system is no small feat. At the moment PAYX connects directly to payment service providers. The platform is also integrated with fraud management platforms as well as being deeply embedded with several cryptocurrency and other payment-related solutions. This has allowed developers of the platform to give its users greater opportunities for protecting revenues as well as increasing sales and reducing payment costs.
The actual working of Paypex is no different from the regular digital currencies out there. Users are able to buy, sell or trade their tokens. This exchange is done on the usual paradigm of demand and supply and provides a balanced ecosystem, for the exchange of PAYX tokens. Where PAYX pushes slightly ahead of many of its rivals is in its interface with fiat money. Thanks to deep platform integration, users of the token can save their tokens on either MyEtherWallet or Mist. The goal of this level of integration and transfer capacity is to enable Paypex to act as bridge between existing digital tokens and the overarching system of currencies that drive the fiat money system around the world.
The PAYX wallet also has one distinct advantage over most digital tokens. Unlike the standard setup where digital wallets can and do change value over time and depending on market forces, Paypex wallet leaves value intact. This allows users of the platform, to perform instant transactions in a zero-fee transaction environment. Naturally this incentive has helped to drive popularity of Paypex.
Also helping to drive popularity of the wallet and token is its simple system for users to get started. All a user has to do is signup at the platforms main portal, after which a PAYX token can be deposited securely to the user account. From there funds can transferred directly into the Paypex wallet following which the free movement and transfer of value can be done by the user. This is arguably one of the simplest and most straightforward gateway systems out there. Given the inherent complexities of the blockchain technology and the myriad deployment standards among individual developers, it’s a mark of ingenuity that PAYX has achieved such universality in its use from the start.
This popularity and universal user-friendliness has enabled traders and investors to showcase the popularity of the coin. In May PAYX hit a high of $2.52 before pulling back below $1 at the end of the month. Since the steep decline at the end of May, PAYX has started to inch further up, reaching a high of $1.32 on June 4, 2018. All eyes will be glued to the token as traders and investors wait for a much bigger potential rally.