What Is Pundi X?

What Is Pundi X?

Pundi X will help to generate demand for new and old, as well as big and small cryptocurrencies. No other online cryptocurrency exchange can bring in new cryptocurrency users from this segment and in the same number, thanks to their powerful focus on attracting the consumer market.

From 9 million to 100 million

With future growth in mind, let’s look at some relevant statistics as of October 2017:

• – Bitcoin price is approximately USD 6,000
• – Bitcoin market capitalization is approximately USD 100 billion
• – Trading frequency is 250,000 times
• – Trade volume is USD 900 million.

With trading volume accounting for 1.1% of total volume, the reason bitcoin had such respectable numbers is because there may be as many as 5.8 and 11.5 million – an average of 8.7 million – active wallets. However, the global bitcoin wallet ownership numbers do not even reach 2% of the population of South East Asia.

Just take a few seconds to absorb this information … what if we could introduce another 10 million, even 100 million users … what kind of impact would this have on the cryptocurrency landscape?

100 million users in 3 years

Pundi X is concentrating initial traction efforts on South East Asia. Half of all South East Asians live in Indonesia. We have local team with a deep understanding of the Indonesian market – plus we have track record, connections and products to match the local market’s needs.

• Overview – Table of Contents
• What Is Pundi X?
• Getting Started With Pundi X
• How To Get A Pundi X Wallet?
• Pundi X Resources
• How To Buy Pundi X?
• How To Earn Pundi X?
• What Is Pundi X Mining?
• Latest Pundi X News

We will spend the next two years building an extensive coverage of convenience stores, shopping malls, retail shops, chain outlets, cafe, restaurants and other outlets. We will use Pundi apps to coverage an even greater number of smaller sellers. their goal is for users to be able to buy and spend cryptocurrency within a five minutes walk of any location in Jakarta.

With their initial outreach in Indonesia, we intend to expand into Thailand, Malaysia, Singapore, Japan and other regional markets simultaneously. their plan is to cover South East Asia within three years. At the same time we will explore other parts of Asia, the Americas and Europe using their open source and open specification for adoption of their protocol. In this way we can achieve their objectives in sales of cryptocurrency; usage of cryptocurrency; and growth of cryptocurrency.

100 million to 1 billion in 5 years

Pundi X Platform will be provided as open source and the hardware reference implementation specifications will be provided under Creative Commons. The Pundi X solution will therefore be readily deployable across the world in regions outside of Indonesia. With these international deployments, Pundi X will be able to reach the 1 Billion user mark.

The new decentralized stage would like to rearrange digital money for clients and make it significantly simpler for them to make buys. They anticipate disseminating 100s of their ‘purpose of offer’ brilliant gadgets to retailers so they can acknowledge instalment with their new token, this will prompt lower exchange charges for the retailer.

They state in their whitepaper that they’re meaning to be the Walmart of blockchains by enabling clients to effectively offer their digital money on the new system.

They would like to be the greatest decentralized disconnected digital money deals arrange. Likewise with all digital forms of money Pundi X will keep running on the blockchain which will record all exchanges. By conveying their purpose of offer frameworks to disconnected retailers they would like to make disconnected buys utilizing cryptographic money considerably more typical.

Point Of Sale device

The team behind the new platform will start distributing their new POS devices in Indoensia, the largest country in South East Asia.

The new device will allow users to either purchase their new token directly or to use the cryptocurrency that they already have stored in their wallet.

The POS will be a smart device that is connect to the Pundi X blockchain that runs on the Ethereum network.

The team behind the project believe that their new device will have many advantages over Bitcoin ATM’s:

• Much lower cost.
• Smaller more compact size.
• Offers many more services.
• Hopes to distribute over 50k devices in a year, Bitcoin ATM’s are still only estimated to be around 1500.
• High mobility, allowing traders to use the device whilst travelling.
• The system will be open to Developers.

Fast Growth

They say that the rate of growth they can aim for will depend on the amount they raise from their ICO, saying that if they manage to sell 35 million tokens then they’ll aim to have 100,000 devices distributed in the first 3 years. Once they’ve reached a total of 50,000 devices in Indonesia they will then expand into out Asian countries such as Thailand and Malaysia.

They also hope to form partnerships to target the rest of the world.

One of the reasons they’re targeting South East Asia is due to the fact that 73% of people still don’t have a bank account in the region.

Basic Information on Pundi X

• Project Name: Pundi X
• Sign: PXS
• Total tokens: 175 million tokens
• Total Hardcap: $ 35 million (have raised 23 million then you).
• Price 1 PXS = $ 2.1 (pretty chatted)
• Time to open ICO sale: Start selling on 21/1 to 1/3 (I think it will end soon somewhere 5 minutes).
• ICO purchase limit: Minimum 0.1 ETH and no maximum limit (too delicious)
• Website: https://pundix.com/

Despite launching into the grim January market conditions, Pundi X sold out their initial coin offering in less than 90 minutes with the promise of becoming the ‘Walmart of blockchain’. Now, Pundi X are confident they can become the biggest decentralised offline cryptocurrency sales network and capture the next generation of crypto speculators and traders with the heightened convenience of their mobile wallet and Point of Sale (‘POS’) devices. Ease of access is the name of the game for Pundi X, and if successful, then we will enjoy a world where “buying cryptocurrency should be as easy as buying a bottled water.”

Technology and Use Case

Pundi X has emerged in response to the harsh difficulty curve for those entering the crypto markets. With the exception of Coinbase and the soon-to-be-released Robinhood app, most exchanges lack the intuitive functionality needed to ease new users in. Further, the reality of juggling multiple personal wallets, keys, and authenticators can leave even veterans struggling to properly manage their funds. Pundi X offer a solution with three interplaying pieces of technology: The Pundi X Platform, mobile wallets, and card payment.

A novel feature about the Pundi X tech is that devices are integrated into both the Ethereum and NEM blockchain—the latter being a popular software in the Asian sphere that is employed by various various financial institutions.

The Platform

The Pundi X POS device will be available in various retailers and allow a customer to either purchase cryptocurrency or pay for goods with cryptocurrency already stored on a wallet. Pundi X claim this service is superior to Bitcoin ATMs because these have lower costs, more services, and are a more compact size (roughly the size of a current PayWave device). The Pundi X token will play a role in supplying gas for transactions and advertisements, as well as qualifying customers for discounts.

These devices will be prolific. Pundi X pledged to distribute 100,000 devices (compared to Bitcoin’s alleged global total of 1,500) within the next three years if they met their $35 million ICO hard-cap—which they did. The team will initially be focusing on Indonesia, the largest country in South-East Asia with a population of 250 million, before spreading out to other markets.

While it’s promising to see the team is on track to distribute their platform, it’s difficult to imagine the feature of crypto being purchased from a POS device while waiting for a coffee taking off anytime soon.

Team

The Pundi X team appears to be a talented cohort poised to distribute their technology in the South-East Asia market.

The management team largely consists ex-computer engineers turned serial entrepreneurs. Pundi X’s President Advisor, Constantin Papadimitriou, has had a long history in the financial tech space, founding two of Indonesia’s largest Fintech companies—Infinetworks and E2Pay. With Papadimitriou’s extended history of scaling financial technology businesses, Pundi X is positioned to capitalise on the Indonesian crypto market and make good on the team’s promise of installing atleast 100,000 POS devices within three years.

While there are some examples of the Pundi X C-suite demonstrating a history of scaling technology projects, CEO Zac Cheah oddly seems lacking in this area, where his most recent venture is building HTML games. While not ideal, Cheah will undoubtedly have strong guidance from Papadimitriou and other key members in the oncoming months.

• Overview – Table of Contents
• What Is Pundi X?
• Getting Started With Pundi X
• How To Get A Pundi X Wallet?
• Pundi X Resources
• How To Buy Pundi X?
• How To Earn Pundi X?
• What Is Pundi X Mining?
• Latest Pundi X News

The Pundi X research and development team operates out of Shenzhen with 14 employees (made up largely of engineers), whereas the management and operations team have offices in Jakarta and Indonesia. This is the core team that launched Pundi-Pundi at the beginning of 2017, their ‘MVP’ cashless payments system. Reported in September, the Pundi-Pundi project has generated over 100,000 downloads with over 500 merchants, a figure which can only have grown since. The developers will now be spending most of their time building hardware integrations and working towards to roll out their Pundi X offline payments machine throughout South-East Asia over the next months.

Getting Started With Pundi X

Many people knew about this virtual currency a.k.a cryptocurrency, but most of them still couldn’t get the clear idea on how to sell, to buy or to spend their cryptocurrency. Moreover, having themselves to wait for hours or days to convert their crypto to fiat is not a happy thing to do. By using XPOS machine we don’t need to deal with these problems anymore, you can just imagine a world where you can buy cryptocurrency as easy as buying a bottled water.

Have you checked out how the device looks and how it works? We are delighted to meet and to introduce Pundi X POS device to Tara Basro -one of the famous Indonesian actress. Tara wasn’t very familiar with the whole idea of cryptocurrency but after a short introductions and showing her how their device works, everyone has to check on what she can share about it.

The token behind the project is the new PXS token. Investors in the project should be rewarded with the growth of their investment as the project progresses.

The token can also be used as ‘gas’ to make transactions and ads in the new ecosystem. People who want to use the new system will have to buy the new token which should increase the price.

The ICO sale will be distributing a total of 30% of the available tokens. 20% will go to investors. 70% of the tokens will be distributed to users who hold the token, offering an incentive for investors to keep out of their asset.

Token holders will also receive discounts when they use the new devices.

Pundi X ICO details

• Price: 1 ETH= 500 PXS
• Methods of payment: ETH and Bitcoin.
• Discounts: 15% extra tokens during week 1, 10% week 2, 5% week 3.
• If the ICO doesn’t sell atleast 35,000,000 tokens then the team reserve the right to launch a second ICO which will be at a higher price.
• Hardcap: 280,000 ETH.

Pundi X POS

They keep improving and optimizing their POS solution with their suppliers, including hardware, software and security. The mass production has started in February 2018. Pundi X will deploy over 100,000 Pundi XPOS devices in more than 12 countries.

Mobile Payment

Pundi XPOS supports payment from both cryptocurrency wallets and traditional mobile wallets, including Alipay, the Bitcoin wallet, and more. All you have to do is to have one Pundi XPOS device in your store, and you get all these payment channels integrated into one place.You can also increase revenue from the ads space on the side screen of Pundi XPOS device. This area allows advertisers to purchase with NPXS.

Pundi XPOS device has an easy-to-use interface and helps the store owners to facilitate transactions, including buying and selling BTC, ETH, XEM, QTUM, or ACT. It also has check-out menu to complete the transactions with cryptocurrencies. Membership, order, and inventory management are all integrated here.

When the staff conducts a transaction, for example, buying Bitcoin, the customers can see the price in the local currency. Then they show QR code from their wallets for the scan and complete the transaction immediately.

Once the transaction is successful, Pundi XPOS device will print out the receipt for customers and the store owners to keep. For the advertiser, they can also purchase ad inventory on the receipt with NPXS so that the store owners can increase revenue.

Card Payment

Pundi X team is now establishing the partnership with exchange platforms, cryptocurrency wallets, fashion brands, and chain store to launch cryptocurrency payment card. For the customers who don’t know how to use the mobile payment to conduct a transaction, they can buy and use cryptocurrencies with ease.

It is very easy to use. When it comes to the payment, the staff will ask the customers to use their Pundi XPASS cards.

The customers will see the rate of the selected cryptocurrency on the screen. Once confirmed the rate, they can tap the card and complete the transaction.

Pundi XPOS will print out the receipt for both customers and the store owners.

Type of Cards

Main card

The customers use the main card to conduct transactions, just like how they use the metro top-up card. The main card contains the private key information, encrypted.

</h4>Product Line</h4>

Security card

The security card is only for activating and recovering the main card. The customers need to keep the security card safely and never bring this card together with the main card.

How To Get A Pundi X Wallet?

All Pundi X token holders are eligible to receive the monthly unlocked tokens till January 2021. During the swap period from March 20 to Sept 20, both NPXS and PXS token holders will get the unlocked tokens automatically. After Sept 20, only NPXS holders will get monthly unlocked tokens.

Please do NOT keep ytheir NPXS/PXS in the wallet of the public exchanges (except NPXS holders using Bancor wallet, Coinnest, Coinrail, Coinbene and Cashierest) because you will NOT get their unlocked tokens.

Bancor (wallet), Coinrail, Coinnest, Coinbene and Cashierest support the distribution of the April unlocked NPXS tokens. However, please do NOT send ytheir PXS tokens to these exchanges to receive unlocked token because you will lose ytheir PXS tokens.

For those do not swap for NPXS tokens, we recommend you AVOID SWAPPING ytheir PXS tokens from April 26 to May 8 as you may experience the delay of receiving NPXS tokens due to heavy traffic on the Ethereum network. If you swap PXS for NPXS between April 26-30, it is possible that you may not receive NPXS token in time and miss the snapshot.

Here is the detail of how we calculate and release the unlocked tokens:

• Snapshot time: 11:59 pm GMT+8 Singapore time, April 30 2018
• Execute date: 1st week of May.
• Amount: 7.316% of NPXS/PXS tokens you hold
• Method: Auto. The released token will be sent to the snapshotted wallet address.

How do you receive the unlocked tokens?

1. Make sure you hold NPXS/PXS tokens in a wallet that you own the private key, such as MyEtherWallet, Metamask, Nano, Trezor and Imtoken or hold NPXS token in Bancor wallet, Coinrail, Coinnest, Coinbene and Cashierest exchange wallets.

2. Keep ytheir NPXS / PXS tokens three hours before 11:59 GMT+8 (Singapore time) on April 30 2018, and three hours after 00:00 GMT+8 (Singapore time) on May 1. If you are not able to follow the timeline and the guidance above, you will not receive the unlocked tokens.

3. Pundi X team will distribute the unlocked tokens to NPXS and PXS holders who hold their tokens in the private wallets in the first week of May. We will prioritize to distribute the unlocked tokens to NPXS holders.

4. Exchange partners (Bancor wallet, Coinbene, Coinrail, Coinnest and Cashierest) will distribute unlocked tokens to NPXS holders in the first week of May.

Some frequently asked questions for you to know more about their monthly unlocked tokens:

Can I store my NPXS/PXS tokens in different wallets to get the monthly unlocked tokens?

Yes, you can. Make sure you hold the NPXS/PXS tokens in the wallets recommended above and follow the timeline.

Will I get the unlock tokens if I have bought NPXS from the exchanges?

You are eligible to get the monthly unlocked tokens when you own NPXS / PXS tokens regardless of where you purchase it. Unlocked token “ownership” is tied to the token holders. For example, if you buy the NPXS tokens on April 29, 2018, and transfer them to a wallet suggested above three hours before 11:59 pm GMT+8 (Singapore time) on April 30, 2018, you will receive the unlocked token as we can take snapshot to calculate ytheir unlock tokens in time.

On the other hand, if you sold NPXS / PXS tokens before 29th of April 2018, you would not receive any unlock tokens in May and onwards.

How long will it take to receive the monthly unlocked tokens after the snapshot taken?

We will execute the distribution in the first week of May. Usually, you will receive them within seven days after the snapshot is taken.

How many monthly unlocked tokens will I receive?

The amount of the monthly unlocked tokens is calculated based on how many NPXS/ PXS you hold in the supported wallet when the snapshot happens.

The rate of 7.316% applies to the monthly unlocked token for the first 12 months after completion of their public token sale on January 21, followed by 2.11637% for the next twelve months, and 0.88187% for the last twelve months. There will be no unlocked token after January 31, 2021.

Pundi X Resources

• Official Website
• Facebook
• Twitter
• LinkedIn
• YouTube
• eMail

How To Buy Pundi X?

Pundi X token sale step-by-step guidelines

1. KYC whitelist

You are KYC whitelisted (aka “approved to participate”). In other words, you have taken the KYC application process on their website by now, and received a KYC approved email from Pundi X. Visit Pundi X public token sale update page to see other ways you can check yout whitelist status.

2. Get ready

Alarm ready on 21st January 16:00 GMT+8. Token Crowd Sale starts on this date and will end once the hard cap is reached. For more info on hardcap, please visit Pundi X public token sale update page on individual hardcap and other information.

3. Visit https://pundix.com

Visit their website https://pundix.com and start participating by going through the process. Go through a page similar to below:

Input ytheir email address (ytheir approved KYC email) on their participation page, and you will get the address.

There is a ETH unique address for each participation. Please only send to this unique ETH address listed on their website https://pundix.com after inputting ytheir email address.

Please always send from an ETH address which you own the private key, which means not from exchanges!

4. Be safe!

Please triple check various source of information on their website https://pundix.com , their blog https://medium.com/pundix and their telegram group pinned message https://t.me/pundix

• Always make sure that you are on their official domain https://pundix.com.
• Make sure that you see the “lock” icon and the word “Secure” in the address bar indicating secure connection.
• There is a ETH dynamic address for each participation. Please only send to the ETH address listed on their website https://pundix.com, not others.
• If someone contacts you via any means saying that he/she is related or representing Pundi X please do not trust and always double check (We have taken safety precautions but please be extra careful still).
• Please do not send ETH from public exchanges such as Kraken, Bitcoin.co.id or Coinbase. Only send from wallets which you have ownership of the private key such as Metamask, Trezor, imToken,Nano Ledger and Electrum.

5. Confirm you receive PXS

Token generation will happen approximately 48 hours after the token sale concludes. The speed of PXS delivery will depend on transaction traffic of Ethereum blockchain. Please take a look at how to check the PXS token received (the article is written for Pre-token sales but the method to check the PXS tokens received is the same).

6. All done!

You are now the owner of PXS tokens.

Latest Pundi X News

Pundi X hires chief counsel: former Microsoft and Ethereum veteran, David Ben Kay

Pundi X has announced its new chief legal counsel, David Ben Kay, a lawyer to leading Asian technology companies and blockchain startups with over three decades of experience.

David is a specialist in international intellectual property and investment law and had a long career working in China, beginning with the leading international law firm Dentons.

In the following 30 years, David helped establish more than 250 companies in that country, including Microsoft’s China subsidiary which he helped set up in the early 1990s. David later joined Microsoft China as general counsel in 2003 and led the company’s work on intellectual property, anti-piracy, government relations and corporate social responsibility.

Expertise in legal issues of Blockchain technology

In recent years, he has advised over fifty start-up and early-phase technology companies and developed an expertise in legal issues involving blockchain technology.

David will assist Pundi X in navigating international legal and regulatory issues as it targets a global rollout of 100,000 XPOS devices over the next three years.

“I’m really excited about joining the Pundi X team and working with them to achieve their vision of mass inclusion: enabling consumers and merchants everywhere to use and exchange cryptocurrencies with ease,” David said. “I’m also hoping we can have a positive impact on the whole ecosystem through working with industry associations and government regulatory bodies to take a rational and encouraging approach to the blockchain and cryptocurrencies.

• Overview – Table of Contents
• What Is Pundi X?
• Getting Started With Pundi X
• How To Get A Pundi X Wallet?
• Pundi X Resources
• How To Buy Pundi X?
• How To Earn Pundi X?
• What Is Pundi X Mining?
• Latest Pundi X News

Passionate about Pundi X

“I’ve worked as an advisor to a number of blockchain-based startups, but it was Pundi X’s mission and the clarity of vision and passion of the Pundi X team that made me want to join them and contribute whatever I can to their success.”

David was an advisor and later a board member for the Ethereum Foundation, the Swiss non-profit dedicated to promoting the revolutionary blockchain-based distribution platform and smart-contract-enabled cryptocurrency of the same name. He joined Ethereum in 2015 and advised the foundation through a period of critical growth in 2016.