Beginner’s Guide to TenX

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TenX Pte. Ltd. is based in Singapore and has strong support through within the industry. TenX earned the first-place title during the DBS Blockchain Hackathon under the name OmniChain and graduated from PayPal’s startup incubation program.

TenX Website

When most people think of TenX, they picture the TenX card, which is a debit card of multiple blockchains that is linked to your mobile wallet and allows you to spend cryptocurrency assets anywhere, both offline and online. Using the TenX card doesn’t incur transaction or foreign exchange fees.

As a Singapore-based company, the first users were from Singapore. The TenX card and wallet underwent beta testing that involved 1,000 users in Singapore. Following this, there were additional beta testers around the world. Since then, the number of users has expanded into the thousands with more joining every day. At the moment, the TenX card and wallet have been used in more than 50 countries, showing its usefulness around the world.

TenX Payment Card

What Assets Are Supported?

TenX is constantly working to expand the list of supported assets. Currently, assets of multiple blockchains are supported. These include Bitcoin, Dash, Ethereum, and various Ethereum ERC20 Tokens, the last of which includes ANT, TRUST, REP, DGX, and others.

What Are the Rewards?

In addition to a lack of fees for foreign exchanges and transactions, TenX users receive rewards that provide additional savings. Holders of TenX tokens get 0.5 percent rewards in Ethereum currency. TenX cardholders receive 0.1 percent rewards in PAY currency. All rewards are given monthly at first, with the target of rewards being distributed more quickly in the future. The TenX card is a Visa, so keep that in mind when conducting transactions.


Keep in mind that while you don’t have any exchange or transaction fees, there are other fees with the TenX app and card. Both the physical and virtual card have a $10 fee, but they are waived if you spend over $1,000 in the year. You also have to pay $15 for a new physical card, which covers the issuing and shipping. If you activate the virtual card, this costs $1.50 for issuing. There is also an ATM fee of $2.75, a minimal amount. All fees are deducted from your cryptocurrency account automatically.

What about Non-Card-Based Payments?

You can access the web app and the TenX iOS wallet, allowing for smooth transactions via your mobile device or computer, as well.  Remember that you can only be signed into your TenX account on a single device at once, but this should change in the future, letting you log in on multiple devices. Even so, your account is automatically linked across platforms, including Android, iOS, and the web app, as the TenX account is based on your phone number and email address.

What Are PAY Tokens?

PAY is the currency for many transactions conducted by TenX. The token sale phase of TenX ended June 24, so it doesn’t directly sell tokens anymore. Instead, you can buy them at cryptocurrency exchanges. The number of exchanges offering PAY tokens is constantly expanding, and you can find a list of those markets online. You can store your PAY tokens where you want, including in your ERC20-enabled wallet. Just remember that to spend them with the TenX card, they must be in your TenX wallet. Other than this, there is no benefit to storing them there.

How to Create a Ten X Wallet

The PAY token can be stored on a mobile app available to download for iOS or Android devices from their website. This will allow you to send and receive payments and store your PAY tokens.

There is also a web interface available where you can create a wallet, signing up is very straightforward – you will need to enter your name, email and a phone number and verify your email address and phone number via a text message they will send you. After choosing your local currency, you are granted access to your online wallet where you can then deposit cryptocurrencies, send payments or order the TenX payment card.

TenX Wallet

Unless you have a special code, you will be required to pay $15 for the physical payment card.

How to Buy TenX Pay

The easiest way to purchase it at the moment is by buying either Bitcoin or Ethereum and then swapping these for it on an exchange.

In this section we will show you how you can purchase cryptocurrency with a Credit or Debit card using the Coinbase website and then swapping it for PAY Tokens at Changelly.

Register at Coinbase

For first time buyers of crypto currency, we recommend that you use Coinbase to make your first purchase – its easy to use, fully regulated by the US government so you know it is one of the safest and most reputable places to purchase cryptocurrency from. Coinbase offers the ability to purchase Bitcoin, Litecoin and Ethereum with a credit or debit card or by sending a bank transfer. The fees are higher for cards but you will receive your currency instantly.

You will have to carry out some identity verification when signing up as they have to adhere to strict financial guidelines. Make sure you use our link to signup you will be credited with $10 in free bitcoin when you make your first purchase of $100.

Coinbase Website

To get started, click the “Sign up” button where you will be taken to a registration form where you will need to enter your name, email and choose a password.

Coinbase will then send you a link via email to verify your email account, once you click the link in the email you will be taken to a verification page. You must then add your phone number and upload a photo of your ID – this can be a passport, driving license etc. You also have to add your payment details, so you can add your bank account or a debit or credit card as required – after a short period your account will then be verified and you can then make your first purchase.

Coinbase Verification

Purchase Ethereum or Bitcoin

For this guide, we will be purchasing Ethereum to swap for our target cryptocurrency. The reason for this is that it has far cheaper fees than bitcoin for sending and the transaction also happens a lot faster. So in Coinbase, visit the “Buy / Sell” tab at the top, select “Ethereum”, choose your payment method and enter the amount you wish to purchase – you can either enter a US Dollar amount or a number of Ether.

Buy Etherum

You will then be asked to confirm your transaction, if paying with a card you might have to complete a verification with your card provider. Once that’s complete, your Ethererum will be added to your account.

Using Changelly

The next stage, is to use the Changelly website to swap your Ether for PAY. Use this link and enter how many Eth you will like to convert and it will show you how many PAY you will receive in return, if you are happy then go ahead and click the green “Exchange” Button.

On the next screen you will be prompted to register an account which you can do so by using a social media account or entering your email address.

Changelly Registration

Once that’s done, you will be taken to a page showing the transaction details – check it over and make sure the amounts are correct. Once you are happy click the green “Next” button.

On the next screen, you will be prompted for your Waves wallet address where you will receive the coins. Paste this into the box and click the green “Next” button.

Changelly Wallet Address

You will then be shown a final confirmation screen, again, make sure all details are correct before proceeding.

Changelly Confirmation

Changelly will then provide you will an address to which you mush send your Ether, so copy the address that they give you and then head back to your coinbase account.

Changelly Send to

Send Your Ethereum or Bitcoin

In Coinbase, click the “Accounts” and Select your Ethereum Wallet on the left and then click “Send”.

Enter the address that Changelly gave you before.

Send Ethereum

Click “Continue” and then you may have to confirm the transaction with your email or phone if you have 2 factor authentication enabled.

The transaction will now be sent over the Ethereum network and will take a short while to arrive – you can check in your Changelly account where it will notifiy you of the following steps :

  1. Waiting for payment
  2. Exchanging
  3. Sending to your wallet

Once it’s complete a confirmation message will appear on the screen saying “Transaction Complete”. You can now check your TenX Wallet where you can confirm you now own your PAY tokens.

Changelly Transaction Complete

How Does TenX Provide Security?

With TenX, users have a Decentralized Security Smart contract (DSS). Since users hold their DSS key, they have complete control of their funds and security settings, the latter of which are easy to adjust. Just some of the settings that can be adjusted include portfolio spending, withdrawal settings, daily limits, and spending limits. TenX has a banking license in addition to the debit card, letting it legally be the hub for the blockchain systems and allowing it to provide this service.

Understanding the Payment Platform

The payment platform used by TenX works with a range of blockchain assets. It serves to connect businesses and assets on these blockchains with the real-world stores people visit in a way that remains decentralized. Businesses are able to connect with users to receive real-world payments while developers can create security smart contract modules. The platform allows transactions to occur across a range of systems, from bank accounts and debit cards to mobile wallets and physical shops, like convenience stores.

What Is COMIT?

In addition to the card, TenX is working to develop COMIT, a network whose name stands for Cryptographically-secure Off-chain Multi-asset Instant Transaction. This network will be used in parallel on the TenX backend. It will leverage payment channels, liquidity providers, and hashed time lock contracts as a way to develop a decentralized network made up of cross-chain asset conversion.

Comit Network

With the COMIT protocol, each blockchain is connected to the others. This off-chain transaction protocol essentially allows the ecosystem of blockchains to be scaled further, making it more inclusive.


TenX has a very bright future, particularly now the mobile applications have launched to the public. The TenX card already allows account holders to spend their cryptocurrencies seamlessly in countries around the world, working no matter where you or the currency that the store you shop at uses. As such, this will be a useful tool for travelers. With the mobile applications, it will provide the same ease of use as other mobile payment apps. This means that users won’t even need to carry their wallet with them to pay using cryptocurrencies. As cryptocurrencies grow in popularity, this is a simple way to spend assets without first having to convert them to FIAT currencies, something that the market appreciates.

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Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact

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