FxPay: The Gateway Decentralized To The World Digital Ecosystem

Introduction

The foreign exchange market (forex) can be referred to as a decentralized global market for exchanging currencies virtually. Simply put, foreign exchange is the conversion of one currency to another. As we move towards a global world, there has been a significant increase in the number of foreign exchange transactions over the past few years which shows massive adoption. In addition, its success in operations, it is quite unfortunate that the forex market is currently facing important problems that have not been handled properly. This includes high deposit and withdrawal fees, lack of consistency with regard to brokerage fees, delays in the entire exchange process and several others. 

The FxPay team is trying to utilize blockchain technology to help overcome the problems mentioned in the forex market. They focus on implementing cost-effective solutions for brokers, traders and liquidity providers.

Problem Room

Somehow it is amazing to see a market that is widely adopted in this dilemma. The transaction process in the forex market has proven to be less effective, complicated and also faces the problem of lack of consistency about brokers. 
Let's look at some of the big problems that hinder the extraordinary performance expected from the foreign exchange market.

The issue of transaction costs is something that cannot get out of the list. Individual traders are required to pay exchange fees ranging from 5-7% of the total number of transactions. This has created a barrier that prevents novice traders from entering the market and also contributes to the nature of the market that is not attractive to potential investors.

Brokers are also charged between 5-7% when transacting with liquidity providers. A large brokerage platform with a large number of investors is spending a lot of money on unnecessary costs which I don't think is the best. 
The integration of the foreign exchange market makes the money exchange process take several days.

FxPay Solution Model

FxPay focuses on the use of digital currency (FXP tokens) by traders and brokers to make life easier than what they already use. This will give them the ability to easily convert FXP tokens to fiat money on the platform.

Or, traders can use forex credit to participate in the market. After the trade ends, forex credit can then be converted into FXP tokens or other digital currencies. Because of its flexibility, traders can choose to maintain their forex credit for future trading or exchange it for fiat money through the forex trading platform at a very reasonable cost.

Cost reduction and transaction speed will be a key element in the FxPay Inc. solution model. They are trying to spread a trading platform that will look attractive to cryptocurrency investors because they will be able to participate in the forex market. Provisions have been made for high market volatility (FXP can be used as a large hedging opportunity). Crypto investors can exchange their crypto assets into fiat until there is stability in the market.

Benefits for Stakeholders

For crypto and forex traders, the FxPay ecosystem has been programmed in such a way that the price of coins will gradually increase according to time. Many benefits (less costs incurred by users, incredible speed etc.) FXP will lead to large cash flows on the exchange platform.

On the broker side, FxPay will function as a payment gateway for transactions between them and the liquidity provider or bank. What makes this interesting is a discount program. Brokers will enjoy discounts on their transactions. This broker means it will save a lot when it comes to transaction fees. 
FXP purchases will be available to brokers by offering extraordinary discounts and distributing them to their traders. FXP coins can be taught as a mechanism for customer acquisition and retention for brokers.

Conclusion

Having problems such as high transaction costs, slow transaction processes etc. on the existing foreign exchange market. This is quite frustrating for stakeholders and because of that, I think the motive of FxPay Inc. to overcome this problem must be considered and supported. The solution proposed in this report shows how comprehensive it is. The project also has experienced and good team members to spread the idea. In my opinion, this is a courageous effort towards good direction.

Token Details

Ticker symbol:  FXP  
Token Protocol  : FXP is published and operated under the ERC20 infrastructure. 
Total Supply: 500,000,000 FXP TOKENS

Private  Sales Token Sale  Period: 1ST - 30TH 2018 APRIL 
Public Pre-Sales Period: 1ST MAY - 31ST JULY 2018  
Public Sales Period: 1ST AUGUST - 31START 2018  
Cryptocurrency Received for FXP launch: Ethereum (ETH), Bitcoin (BTC), Bitcoin Cash (BCH), Tether (USDT), Tron (TRX), Happy Coins (HPC)

Token Allocation

Team member

    

Road map

Useful references

Website ---  https://fxpay.io/ 
Whitepaper ---  https://fxpay.io/pdf/FXPAY_V.1.4.pdf 
Telegram ---  https://t.me/fxpayglobal3 

Author By. Babatee

Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1096538

Ethereum Address. 0x2A01874926eFF79F4ED23761503B8E835CaaF178