The shipment of cards with global coverage ordered through MinexPay has begun. This was announced by MinexSystems, a company specializing in the development of blockchain projects. The MinexPay cryptocurrency cards from MinexSystems will allow their holders to pay with cryptocurrencies anywhere ordinary cards are accepted, and, more importantly, to withdraw cryptocurrencies into fiat money at the nearest ATM with a minimum fee from 0%.
"We successfully launched the card program by the end of 2018," says Boris Shulyaev, founder and CEO of MinexSystems. "And although we did not manage to release cards with the MinexPay logo before the winter holidays, we are working on it and will present branded cards soon this year."
At the moment, MinexPay offers four different pricing plans for the ordered cards: Standard, Gold, Platinum, and Infinite. Depending on the pricing plan, cash withdrawal at an ATM starts from a 0% fee, meaning users can withdraw cryptocurrencies into fiat for free, as well as receive up to 1% cashback on payments made with the MinexPay card.
According to the requests, MinexSystems expects sales of around 30,000 cards by the end of the second quarter of 2019. If the forecast comes true, the volume of minimum balances on the cards will amount to over 3 million MNX, which is 75% of the total number of tokens. This will positively affect the demand for MNX.
The Minexcoin (MNX) token is an integral part of the MinexSystems network. And given this, demand for it is expected to grow thanks to the total amount of MNX in the minimum balances of the cards. That is, the more people use the service, the more in demand the MNX token becomes. In the case of cards purchased through MienxPay, users need to top up the minimum balance by 1,000 MNX to withdraw cryptocurrencies from 0%, or by 200 MNX — to withdraw cryptocurrencies from 2%. This minimum balance belongs to the cardholder and they can withdraw it, but to use a low cryptocurrency withdrawal rate, you need to have a certain amount of MNX on your card balance.
In addition to global cryptocurrency cards, MinexSystems offers various blockchain products. For instance, one of the company's unique services, MinexBank, is the first bank to offer Minexcoin holders to store MNX in wallets for the purpose of saving. Thanks to this mechanism, everyone can receive Minexcoin for free as interest for storing MNX on their balance without transferring funds to anyone.
MinexBank uses parking as confirmation of a Minexcoin owner's intention not to withdraw coins from the wallet into market circulation for a certain period. This intention is confirmed by the owner by creating an application within the MinexBank algorithm. MinexBank offers various parking rates depending on the time period. For example, at the moment users can receive a reward of up to 45% per annum.
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