It was in 2017 when TenX announced its intention to meet the needs of crypto-savvy customers with a new type of credit card based on Bitcoin and Co. and accepted pre-orders. In December 2018, schedules had to be corrected, we reported. Now the waiting has come to an end, at least in Germany and Austria, TenX announced in a blog post to start sending the TenX Visa card. This was made possible by an e-money license in Liechtenstein, which allows TenX to operate legally in the regulated EU markets. TenX reminds previous pre-orderers that they must confirm their order and verify their account before the cryptographically secure credit card can be sent to them.
Background on TenX and its Visa card
TenX started out with the vision of issuing a credit card that would allow payments to be made directly in common crypto currencies such as Bitcoin (BTC). Other crypto-credit cards such as those from Coinbase convert the credit balance in crypto-currencies first into Fiat when used in everyday life. This sometimes leads to considerable fees and unfavourable exchange rates. The TenX credit card is therefore particularly interesting wherever merchants or service providers accept crypto currencies. The TenX Visa credit card works in conjunction with the TenX Crypto Wallet, which currently supports Bitcoin, Ethereum (ETH) and Litecoin (LTC). Litecoin in particular is known for its broad network of acceptance points. The TenX Visa card is also linked to a Fiat account, making it a hybrid.
TenX, although based in Singapore, has always placed a special focus on the German-speaking market through its founding team. In the meantime, Julian Hosp was also part of the TenX team before he was sacked in January 2019. Since then, TenX around CEO Toby Hoenisch has managed to regain momentum and offer an innovative product with the first real crypto credit card. This has been made possible in the background through cooperation with Wirecard.
Conclusion: TenX has taken a big step forward with credit cards
We will leave the quarrels about Julian Hosp aside at this point. TenX deserves praise for the staying power it took to bring this credit card to Germany and thus to the EU. The cards from Crypto.com are also currently being delivered in Germany.
- Pay directly with Cryptos without exchange
- High fees
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