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With a mission to make buying cryptocurrency as easy as buying bottled water, Pundi X created a point-of-sale device to allow brick-and-mortar stores to accept cryptocurrency as a form of payment. The Jakarta-based blockchain startup has secured some solid partnerships and has big plans for growth in the coming months and years.
Pundi X’s native currency, NPXS, launched in March 2018 and can be bought and sold on many popular exchanges.
Compare exchanges by deposit methods, fiat currency support and total cryptocurrencies offered. You can currently buy NPXS tokens on the following cryptocurrency exchanges:
If you want to buy some NPXS, here’s how you can go about it:
Compare the features and fees of exchanges that list NPXS in one or more currency pairs. Choose the exchange that best meets your needs, and register for an account by providing your email address and creating a password.
Depending on the platform you choose, you may also need to supply your personal details, phone number and proof of ID to satisfy Know Your Customer and Anti-Money Laundering (KYC/AML) requirements.
The next step is to transfer funds into your exchange account so you can buy NPXS. Exchanges choose what payment method they accept, so you may have to pay by bank transfer, credit card, bank transfer or even with another cryptocurrency.
The final step in the process is to navigate to the “Exchange” or “Markets” section of your chosen platform, search for the Pundi X token and purchase. Make sure you have a place to store your Pundi X tokens, as leaving them on the exchange is not recommended.
Unless you’re planning on exchanging your NPXS tokens soon, storing them on an exchange for any length of time generally isn’t recommended due to the security risks involved. Instead, moving your tokens into a private wallet that lets you control your private keys is a much more secure option.
NPXS tokens are ERC20 tokens on the Ethereum network, so you’ll need to store your tokens in an ERC20-compatible wallet. Examples you may consider include MyEtherWallet, the Ledger Nano S and TREZOR hardware wallets, and the MetaMask browser extension.
Pundi X sets out to tackle one of the key problems facing all cryptocurrencies: the lack of mainstream adoption. Though bitcoin and an increasing range of other digital currencies now experience a higher level of public awareness, the proportion of the population that actually transacts with crypto on a regular basis is quite small.
To overcome this obstacle, Pundi X offers a platform for “consumerizing cryptocurrencies” by allowing their use in retail point-of-sale systems through a mobile app and contactless payment card. There are three key components to what Pundi X is offering:
Pundi X will incentivize participation by providing free hardware to retail stores in its initial target market of Indonesia. Subsequent expansion will target Thailand, Malaysia, Singapore, Japan and other regional markets in Southeast Asia in the next three years, with plans to roll out between 100,000 and 700,000 devices during that time.
The Pundi X team is based in Jakarta, London, Taipei, Shenzhen and Singapore. The blockchain startup was launched by Wokoworks Technology, a Hong Kong registered company, and held an ICO in January 2018 that raised $35 million.
Cryptocurrencies are notoriously volatile and also highly complicated, so you should never buy any digital currency without thoroughly researching it first. You’ll need to carefully consider the factors that could potentially have an impact on the price of a coin or token before you buy.
If you’re thinking of purchasing any NPXS, take the following factors into account:
Whether Pundi X has the products, the backing and the team to achieve its ambitious vision remains to be seen, so do your own research before deciding whether to buy any NPXS tokens.
At the time of this writing, the author holds IOTA and XLM.
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