XCARD ~ FACILITATING THE CONNECT BETWEEN THE FIAT AND CRYPTOCURRENCY IN REAL TIME?..
INTRODUCTION :
( XCard ) is burdened with the responsibility of connecting paper money and cryptocurrencies. Enabling ease of making seamless and instant transactions, also decreasing the cost of the transaction and increased security.
Problem Statement
Cryptocurrencies have changed the way transactions are being carried out around the world today, but with this trend, we have also found it increasingly difficult to make payments in regular shops, taxi systems, and even transactions online.
Why does this problem persist?
Through research, XCARD have discovered the following as problems in crypto transactions
Risk of Frozen Fund
High Inflation rate
Currency volatility rate
Low opportunity to use cryptos
Risk of a frozen fund?
Hitherto, crypto users have been operating and transacting using a pre-paid card system, this makes the individual or individuals totally dependent on what supplier which is no way good for risk prevention and is classically violating the rule of blockchain decentralization. The questions that arise from this system is, what if the card issuer decides to stop supporting cryptocurrency or simpler said, decides to fold up or close shop? like the classic example of Coinbase freezing WikiLeaks account without explanation.Or what if the country where the business is based becomes blacklisted by the payment provider
High Inflation Rate?
This is most common with Fiat currency. It is a common factor to see fiat currency depreciate in value. In the past 100 years, we have watched and experienced countries’ currency loses value from the US dollars to the Chinese yen and the Nigerian naira. Hence identifying these currencies as unstable by the American standard. The market potential for attractive and user-friendly cryptocurrency solutions is high in countries that have traditionally been under-served by global payment providers: XCARDS is satisfying this demand.
Currency Volatility Rate?
One of the greatest crises that have befallen cryptocurrency is that they are not instant and in real-time. When a currency is to be transferred from one person to another the exchanged rate may have increased. This will be true and continuous as long as people carry out transactions in FIAT. Prices are pegged with FIATs; customers convert their cash to crypto and purchase and then FIATs are converted back to crypto possible in larger or smaller amounts as the case may be depending on the rate of volatility. This is a huge risk.
Poor opportunities to use Crypto?
Checking the internet today, there are exaggerated stories of how cryptos can be used to pay for goods in local shops, which are obviously false. In the world, the number of commercial establishments that accept crypto as payment is not more than 0.1% and many of them just ran a test run on the prospect and shut down in no distant time. The problem with merchant adoption of crypto is solved by XCASH
The XCARD solution: why should XCARD be adopted
XCARD will contain the following features
1,Verve powered credit card
2,Ease of use
3,Onboarding
4,Best execution rate
5,Supports the use of crypto and FIAT
6,Credit options for users
Verve powered credit card?
Powered by visa it allows the user to use cryptos or FIAT assets and it allows ATM and POS transaction
Ease of use
After signing up on the platform, the card is issued to users and it supports multi-currency.
Onboarding
The project has made the process of opening an account easy and buying crypto has become very easy as well.
supports the use of crypto and FIAT
over 200 cryptos are registered on it, and it accelerates the conversion of crypto to FIAT and vice-versa.
Credit option for users
It runs a very impressive credit facility where users can purchase items and pay later.
HOW THE CARD WORKS?
Highlighted below are the various steps that are taken to set up and use the XCARD:
A personal bank account must be opened and the user must possess a physical payment card (it should be noted that payment would also be issued by XCARD)
Users can then top-up XCARD Cryptos or receive a loan.
To use the service, users are required to download the mobile app which connects automatically with the credit card.
Getting a loan on XCARD
A flagship feature, users can choose to obtain loans using cryptocurrency as collateral. In such a case, the crypto is not spent and credit can be paid back without conversion. Interest rates are calculated after a month when the due date for payment has expired, and payments are made in FIAT or crypto. Before receiving credits, the equivalent of the credit will be deposited as cryptos which will be used as collateral.
How XCARD become a perfect crypto wallet
With the increase of Fintech, a lot of companies have been trying to adopt a cryptocurrency payment system. But to date, we still can’t use cryptocurrencies in exchange for FIAT in our day to day transactions. Due to low adoption, volatility rate cryptocurrencies are not being used as a means of payment. With XCARD, these problems will cease and it will be achieved by:
It enables users to connect any payment card of choice
It allows spending on any existing credit card
XCARD connects the users’ current credit card by either of the following processes; International Bank Account Number, Original Credit Transaction for Visa and Master Card.
It allows for instant and fast transaction using visa cards
Loans can be procured by users
It supports multi-wallet
XCARD will ensure that transactions are carried out with zero fees other than its membership requirement with MBM token
Choosing the Cryptocurrency Wallet Best for you
This can be very challenging considering several factors ranging from wallets universality, security and cost of transactions. So many wallets have been created but none of them is perfect.
Wallets universality
It wouldn’t make any sense to get a wallet which won’t give you the desired function as many of this wallet are designed with limited functions
Security
Many false promises by wallet creators are made which is quite misleading. In reality, users face many problems in transferring assets, most times the assets get lost in the system or are hacked.
Anonymity
Most wallets collect user info and they struggle to keep the users anonymous.
The solution to theses is the MOBILUM wallet, it enables real-time currency transfer at point of sale on the user’s current payment card. And it is powered by the [MBM token][(ttp://xcard.io/) and it stores crypto assets in the ERC20 standard. It doesn’t store user data and is completely decentralized. Some other features include;
1,Allows investing in other cryptos
2,Allows loans to be acquired.
TEAM:
The Xcard team is a collection of vastly experienced and technically savvy individuals with the pedigree that stand tall anywhere in the globe, This is further demonstrated in the success recorded so far in the project.
For more information, please click on the links below:
Website: http://xcard.io/
WhirePaper: http://xcard.io/static/XCard-Whitepaper-21082019.pdf
Twitter: https://twitter.com/xcardbymobilum
Linkedin: https://www.linkedin.com/company/mobilumcom/
Medium: https://medium.com/mobilumcom
Telegram: https://t.me/mobilumcom
BTT PROFILE ID: ( https://bitcointalk.org/index.php?action=profile;u=2305955 )
Mytherwallet: 0xA32436df1c536E052FA9AEb6993A01D88084b7Bf