Do you know where the exchange rate for purchases that are made with the TenX card is taken from? Is it from cryptocompare or from an exchange? Would be interesting to know.
TenX's backend trading engine bases the exchange rate on 2 factors.
No one single exchange is used to generate the exchange rate. Our engine queries a number of the top exchanges and attempts to conduct the trade on the best exchange based on BID price for each individual transaction.
It is highly important the currency exchange happens instantly as fluctuations in price are considered a high risk in the short time it takes our engine to make the exchange. Due to this, the exchange rate is set slightly below the current highest BID offer on the chosen exchange.
It is important to note TenX are not charging any additional or hidden fees during this process. The rate displayed in the app is the rate that TenX sell the currency for (after exchange + transaction fees).
On other note, yesterday i finally used my TenX card for a first time and i must say that i'm very excited about it.
It was easy-peazy and enjoyable experience. Very quick way to feel that cash in your hand and not virtual zeroes and ones.
When my wife saw it, she immediately wanted one for herself, so i ordered another card for her
.
To tell you the truth i was skeptical guys, but when i see now how the card is working i became a fan!
I will recommend it to all my friends also, its just really a great product.
P.S. My only regret is that i wish there are more currency's available than BTC, because sending money to the card is very expensive.
