TenX Debit Card Now Available in Europe as its PAY Token Battles Crypto Market Turmoil

In summary:

  • The TenX crypto debit card hit a new milestone as it is now available in Germany and Austria.
  • TenX services were initially only available within the Asia Pacific region.
  • The TenX crypto debit card currently supports Bitcoin (BTC) and Ethereum (ETH).
  • Its PAY token has not been spared by the crypto market turmoil and is down 10% in the last 24 hours. 

Crypto debit cards and mass adoption of digital assets go hand in hand. Such cards provide an avenue to convert our favorite cryptocurrencies of Bitcoin (BTC) and Ethereum (ETH), into their fiat equivalent for the payment of goods and services. One such example is the TenX (PAY) crypto debit card project that was one of the top 10 ICOs of 2017. With a total of $80 Million raised during the ICO, investors and fans have been patiently waiting for the delivery of card services to their respective countries. In June of 2019, the project was the first crypto funded project to be granted an e-Money license in Singapore.

TenX (PAY) VISA Debit Card Now Available in Germany and Austria

In a recent announcement, the team at TenX (PAY) informed the crypto community that the card was now available for users in the two countries of Germany and Austria. This achievement was made possible via the Financial Market Authority of Liechtenstein, granting the project an e-Money license in 2019. The announcement went on to explain:

Users [in Germany and Austria] will have access to the full suite of TenX services: You can now buy bitcoin directly in the TenX Wallet app, and pay instantly using the TenX Visa Card.

With the E-Money License granted by the Financial Market Authority of Liechtenstein in 2019, we are able to operate in a regulated and compliant manner across the EU and EEA markets.

Many fans of the project had placed orders for the card as way back as 2017, therefore their availability was an event to celebrate as can be seen in the following tweet.

Brief Market Analysis of TenX (PAY)

Further checking Coinmarketcap, we find that PAY is currently valued at $0.0234 and also in the red as the crypto markets continue to bleed amidst the global effects of the Coronavirus.

Checking the PAY/USD daily chart on Tradingview, we see that the PAY token has some support in the $0.0158 zone. Its current value is below the 50 (white) and 100 (yellow) daily Moving averages indicating that it is in the control of the bears.

PAYUSD Tradingview 16th March - TenX Debit Card Now Available in Europe as its PAY Token Battles Crypto Market Turmoil

PAY/USD Daily chart courtesy of Tradingview.com

However, the daily MACD lines seem to be attempting a shift to the upward direction with the corresponding histograms indicating a reduction in selling pressure. This might, in turn, mean that the token will experience some sideways movement awaiting more favorable crypto market conditions. However, caution is advised when trading altcoins with Bitcoin also showing signs of weakness.

(Feature image courtesy of Ansgar Scheffold on Unsplash.)

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Crypto Gazette or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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John P. Njui Author

Crypto Enthusiast. Terrible dancer. Former DJ. Amateur Marathoner. Electrical Engineer. Kool kat.

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