NPXS (Pundi X) review
Use digital currency anytime, anywhere.
In this review of Pundi X and NPXS you will learn:
The Pundi X team behind NPXS wants to make it as easy to buy and sell cryptocurrencies as buying a bottle of water. And they’ve taken that approach literally by wanting to put their XPOS devices in every corner around the world.
Ever since their launch in 2017 the Singapore HQ based team has been busy bringing cryptocurrencies to the world. The cryptocurrency startup launched in Indonesia with a key aim of bringing financial inclusion to parts of the world where parts of, or the entire population is nearly unbanked today, with the power of blockchain and cryptocurrencies. And in the heart of all this lies their cryptocurrency called NPXS (formerly PXS).
This is how it works
The XPOS is comprised of 2 parts, 1 being the merchant, and 1 being the user. Furthermore there are XPASS cards. Which are physical cards used to keep the balance of a users cryptocurrencies (basically a wallet) and used when paying for anything on the XPOS devices, or at any other shop or store that accepts cryptocurrencies. Whether that’s physical brick and mortar shops or eCommerce shops.
The use of the NPXS token
What basically NPXS does is the core token used in the Pundi X ecosystem, and their XPOS devices (physical payment devices). It basically the fluid or gas that keeps the ecosystem going. And every time something triggers the use of the NPXS token it basically means that part of the total supply of NPXS tokens will be burned. Today the total supply of NPXS are 274 billion tokens. And this is a finite number. Meaning of tokens are being taken out of existence it should have a positive effect of the price and value of the remaining tokens.
The NPXS token is by the time of writing this post valued at $ 0.000716 and 0,00000014 BTC.
Pundi X (NPXS)
- A user wants to buy or sell cryptocurrencies, or pay with cryptocurrencies using the XPOS device = NPXS is used for paying those transactions and part of NPXS used will burned and taken out of the total supply
- A brand wants to promote themselves and advertise on the XPOS devices = NPXS is used to pay for the ads and taken out of the total supply
- A cryptocurrency startup wants their token/coin to be listed on the XPOS devices = NPXS is used to pay for that listing and part of NPXS used will burned and taken out of the total supply
- In the future both loyalty programs, and future products, claiming goods and services from merchants will all be paid for in NPXS = Part of the NPXS used for that will burned and taken out of the total supply
For the Pundi X merchants
- They will be able to sell and accept cryptocurrencies at their shops, restaurants, hotels or other venues and by doing so attract new customers.
- They can sell cryptocurrencies to users and get a percentage of the transaction fee
- They will also be able to use the XPOS devices to earn revenue by getting 1% percentage of the fees from all the transactions made on their devices.
- They will also be able to sell XPASS cards and get a percentage
- The XPOS can setup a merchants loyalty program, running ads, print smart receipts and inventory
For the Pundi X users
- You can buy cryptocurrencies easily in physical shops
- Pay using cryptocurrencies with the XPASS cards
- Get special discounts as a XPASS holder
The current technology that exist in the Pundi X ecosystem is:
- A XPOS device (Point of Sale device for cryptocurrencies). There are three different types of XPOS devices. With the standard XPOS, then there is a smaller device called XPOS Handy, and a larger device called XPOS Desk. The latter two are not yet shipping ready and still in production.
- XPASS card (a physical card used in shops paying with cryptocurrencies)
- XWallet, the underlying wallet used in the XPASS cards but also as a separate mobile application
- XPhone a blockchain mobile phone that can run completely without a centralised operator. Working as a normal phone, giving you the tools to be even more in control of your data The XPhone is powered by the Function X blockchain. Users can easily switch between Android or Blockchain mode. There will be 5,000 devices made and shipped in 2019.
The Pundi X XPOS device support
- Support BTC, ETH (ERC 20), NPXS, XEM, QTUM (QRC 20), ACT, XLM, and other popular digital assets.
- Support digital asset payment cards, such as the Pundi XPASS.
- Support mobile payment apps, such as Alipay, E2Pay, Go-Pay, Pundi-Pundi, and WeChat Pay.
- Support blockchain-based wallet payment, such as Qbao, X Wallet, Nem Wallet, and many others.
Not only has the team been active in shipping XPOS devices around the world, creating a whole new blockchain, one of the world’s first blockchain phones, but they have also secured some very promising partnerships along the way.
- American Chamber of Commerce Korea, AMCHAM Korea and Pundi X has signed a strategic partnership. To promote the use of Pundi X devices and NPXS around Korea. The members of AMCHAM Korea are around 1,800 individual members from almost 900 member companies like; MacDonald’s, Star Bucks, Hyundai, United Airlines, Citi, Hawaiian Airlines, MetLife, Ford, Honeywell, Johnson & Johnson, Bayer, Cisco, HUB, Nike, Oracle, Kelly, Philip Morris, Hyosung, Cigna, Kim & Change, Pfizer Korea, and more
- Ebooc (Government UAE) Ebooc and Pundi X will provide several other applications for consumers such as making retail payments; paying for government services, fees and fines; utilities and bills; telecommunication bills and school fees on POS devices running a stable, digital equivalent of traditional fiat currencies in the region.
- NEM, (Deal to deploy additional 20k XPOS units) A commitment to use NEM’s blockchain technology to produce 20,000 of the world’s first NEM-based POS terminals, called NEM XPOS.
- Ubivelox, they have become an international innovator in the development of smart cards, mobile communications and blockchain (ranked 6th largest in the world). Pundi X and Ubivelox will work together on XPOS and XPASS technology development, security and market deployment, which will not only facilitate the promotion of Pundi X and accelerate the growth in global markets
- QEX Fund SP; At Consensus: Invest 2018 in New York, Pundi X introduced the QEX fund in partnership with Quantum Energy Asset Management (QEAM). QEAM & R.E. Lee International Capital unveil $100 million fintech-focused hybrid fund, QEX Fund SP.
- Cambodia Smart City initiative – Pundi X have recently announced that they are working with Cambodia’s Smart City. Where their XPOS devices and the Pundi X ecosystem will commerce the initiative with their POS devices – read more here
This is a really exciting project as it gives the XPOS solution another dimension and demonstrates how the XPOS can play a part in a Smart City ecosystem. The project is still in very early stages and what we are looking to do is to start putting down the basic framework and get this going in Cambodia in a smaller scale to start getting learnings. We are targeting to get this kick off very soon in coming weeks.Soohan Han – Director of Marketing at Pundi X interview
Busy times for the Pundi X team
Fast forward to 2019 and the team behind NPXS have been very busy shipping XPOS devices around the world, signing new partnerships but also created a whole new blockchain, called Function X (fx). The Pundi X team wants to move away from the Ethereum blockchain to their own blockchain. Which will then be the underlying technology supporting the NPXS token amongst other use cases.
So right now NPXS holders have the option swap their NPXS’s for Function X tokens. Many token holders are finding it difficult to advise themselves if swapping between the two is worth it. No matter which one you chose to keep or invest in, you’ll find out that the Pundi X team is one of the more ambitious crypto startups.
Read more about Function x here
The Pundi X team has also recently secured CE (Conformité Européenne) tests and received the certification. Which is hugely important for Pundi X’s continued growth in Europe for example.
“This is integral step towards proceeding our commercial shipment in Europe.CE certification verifies that our device is compliant with EU requirements essential for entering European Economic Area markets in areas such as wireless, electromagnetic compatibility, health, safety and environmental protection standards”Pundi X team – blog post
- Very driven team behind it, with a clear business idea and focus. They have proved that they can deliver. With XPOS devices shipping around the world, partnerships, the one of a kind blockchain XPhone and the new blockchain Function X
- Secured good partnerships and with a strong presence in parts of the world with great potential
- Super clear use case for the NPXS token. Every little thing connected to the XPOS devices and more will need to use the NPXS token and trigger a burning event. Causing scarcity and therefore should increase the price.
- Lots of upside in potential value for the NPXS in coming months. With (fx) conversion, quarterly burning of tokens, end of airdropping and partnerships potentially increasing growth
Final thoughts about Pundi X
We really like the Pundi X team, and the clear use case of their NPXS token. It just works. It’s a great idea and the supporting technology behind it seems easy to use. When you learn about the facts that cryptocurrencies could bring financial inclusions to parts of the world when hundreds of millions of people are today unbanked, then you realise how far Pundi X could go. And they’ve also nailed one of the most important things. Being super easy to use and understand. You could tell any of your friends in a minute or two and they’ll get it. That goes a far way in the cryptocurrency world where most things are hard to graps, and far too complex to understand for everyday people.
Reddit page: Pundi X
Website: Pundi X website
NPXS price tools
Convert NPXS prices to Fiat (USD, GBP, EUR, etc) here
Convert NPXS prices to other cryptocurrencies (BTC, ETH, XRP, etc) here
Other cryptocurrency guides:
Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that wants to see better and smarter products and services that makes our lives better and easier