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Everex (EVX): Digitizing Local Currencies into efiat

Everex (EVX)

Altcoins

Everex (EVX): Digitizing Local Currencies into efiat

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Everex (EVX) is a peer to peer platform of payment that aims to solve the difficult task of transferring money across international borders. What it does is that it offers cross border transactions through a Blockchain network. The company is primarily aimed at improving the current payment methodology with a number of products that include; Ethplorer, Cryptocash, Chainy, and Everex Wallet.

The founder of Everex is Alexi Lane, who is a Fintech investor and an entrepreneur with over 15 years’ experience in the Capital market. He has also worked for two years in the Blockchain development field and financial services. The company also has a co-founder with Lane known as Morgan Stanley.

Everex (EVX): Benefits and Advantages

Everex (EVX)  also works with a reserved stablecoin known as Cryptocash and has every unit attached to a fiat currency. Users have the facility to convert their paper money digital Cryptocash at their local banks and use them via desktop wallet on a P2P network and through their mobile. This Crypto enables Everex to provide micro lending services without the rigours of traditional Crypto.

Everex (EVX)’s technology can be seen in three of its working products. They are; Wallet, Ethplorer, and Chainy. Everex wallet allows for the storage, purchase, and conversion of fiat currency by its users via its Blockchain network. Ethplorer is an Ethereum token with an open API. Chainy is an immutable and open source document management smart contract that is based on the Ethereum Blokchain.

Currency tokenization technology is at the core of Everex’s technological setup. What it does is that it digitizes local currencies into eFiat, thus acting as a bridge between Cryptos and fiat currency. efiat is actually powered by smart contracts, and what it does is that it removes the volatility that is attached to Cryptocurrencies.

The platform functions with SOA, that is Service Oriented Architecture. There are two sides to this architecture; THE Blockchain package and the Everex (EVX) system package. What these two packages does is that they address separate concerns between the capital transfer system and external Blockchains.

Where to Buy Everex (EVX)

Everex’s token EVX is useful as its internal reward system for both the users and developers that makes up the Everex ecosystem. Functions such as credit scores, membership, and incentive mechanisms are only available through the tokens.

Everex (EVX) tokens can be bought on various Crypto exchanges such as HitBTC, KuCoin, and Binance. Since it is an ERC20 token, it can be bought through any Ethereum wallet.

Everex (EVX): Storage

The Everex (EVX)  tokens can be stored in any Ethereum wallet. These wallets include; Mist, MyEtherWallet and lots more. all that the user has to do is to first download the wallet and finish its setup. There are also Hardware wallets that offer a secure means of storage for EVX tokens. Some of the hardware wallets that you might want to buy include Nano S and Trezor.

From what can be seen, Everex seems to be emerging into a good, long-term investment opportunity.

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Freddie is a professional journalist and feature writer. He participates on various movements that enable communities to initiate more in-depth understanding on essential topics. His views differentiates the effects on society's day to day life. He is now a full-time contributor to TODAY'S GAZETTE.

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