As you, the reader, might know, in this vast space that is the cryptocurrency space, you know that something that gets it a step back in terms of adoption is ways to spend it and use it. There aren’t many big retailers accepting cryptocurrencies as a payment method, so most of the times, when you want to spend your cryptocurrency, you end up needing to go the existing exchanges with cryptocurrency to local fiat markets and exchange your cryptocurrency to your local fiat to be able to spend it, that is as you might know time-consuming and may come with high fees.
CoVEX Prepaid Card Service goal is to allow that exchange from cryptocurrency to local fiat to occur in real-time and in any location, and be accepted in any retailer that also accepts credit cards as a payment method, all this with minimal fees comparable to any common cryptocurrency transaction.
Those who hold a CoVEX Prepaid Card will be able to use any of their Blockchain assets to purchase goods and services from merchants who already accept the know credit cards solutions. CoVEX platform will go through the cross-chain payment channels to allow the real-time exchange from your Blockchain asset to local fiat and allow for a local fiat payment to merchants, and make it look like any other credit card payment.
So, like any other credit card, the Cardholder will go to any merchant and pay using his CoVEX Prepaid Card, the platform behind the Prepaid Card Service will request an authorization for the amount required for the payment, and the Cardholder will then receive an invoice from the cross-chain payment channels, the Cardholder will then select the cryptocurrency he desires to use to pay for the product/service, and after that the CoVEX platform will approve the payment to the merchant.
In every transaction made using CoVEX Prepaid Card Service the CoVEX Platform will charge a fee to the merchant and will reward his users with CoVEX Coins, all the coin holders will also receive a fraction of the entire payment as an incentive to keep being a coinholder.
For more information regarding CoVEX Coin please visit our website at: https://www.covexlabs.com/
Also, if you have any questions regarding CoVEX Coin or would like some extra information check out our social media:
Telegram: https://t.me/joinchat/FGqocRL7Oj3p-YYV3mu2Ng
Twitter: https://twitter.com/CoVEXcoin
Facebook: https://www.facebook.com/covexcoin/
Bitcointalk Forum: https://bitcointalk.org/index.php?topic=3343211.new
Discord: https://discordapp.com/invite/sVufdss
Official Bounty Telegram: https://t.me/CoVEXBountyPrograms
E-mail: info@covex.io