PointPay’s vision is to provide universally accessible crypto banking services to enable financial freedom. And our native ERC20 token — PXP — lies at the heart of our platform, acting as a means of exchange. It’s a utility token that you can use to maximise the benefits of the PointPay ecosystem.
What is the PXP utility?
PointPay customers who own PXP tokens receive a number of perks and incentives:
- You can dynamically reduce Maker/Taker fees based on how many tokens you hold in your account;
- You can earn up to 10% per annum by holding PXP tokens in your PointPay Bank Savings account;
- You can earn up to 20% return on your PXP investments, depending on the number of tokens you stake;
- Holding PXP tokens in PointPay Bank lowers the interest rate on instant crypto loans;
- You can send instant payments to other customers for free within the PointPay ecosystem;
- If you hold at least 2,000 PXP tokens in the PointPay ecosystem, you can watch premium video tutorials on cryptocurrencies and trading in our Crypto School.
We are constantly working on launching new products that will only increase the utility and value of the token. One of our latest products — Launchboard — would give PXP token holders exclusive access to the promising projects in the crypto space.
In addition, Launchboard will have a voting system where PXP holders will have a right to vote in the selection of projects that will be listed on our platform. We are currently working on the program, so it is still subject to change. Right now, we plan to let you use PXP tokens to vote on the next coin or project we support. Staking will count as votes and allow you to earn rewards in our token or another token of your choice. Our team will shortlist the projects that receive sufficient support.
Our plans for this year also include the introduction of margin, futures, and options trading. Holders of the PXP token would be able to reduce margin trading fees if they store the PXP token. We also plan to allow our users to convert small amounts in their wallets to PXP.
What is the future of PXP?
We use a deflationary token model, which is considered the most sustainable in the long run. Through regular token burns and the increase in utility, we aim to ensure that our token’s value is retained even during a bear market. Since September 2021, we have burned 22,7 million PXP tokens with an aggregate worth of $883,225.
The listing of PXP tokens on four exchanges — BitGlobal, Bitrue, Bittrex Global, and Whitebit — has allowed the daily trading volume to reach as much as $10 million in December 2021.
As our network grows, we must maintain a growing demand for our token. If we reduce the supply while increasing its utility, we can build an economic model that benefits all stakeholders. The decrease in the token supply and the growth in its utility make our token a lucrative asset for long-term portfolios.
Besides earning profits when the price of PXP grows, our investors also help improve the global financial system. PointPay crypto bank allows people around the world to access quality banking services.
Where can you buy PXP?
As of April 6, 2022, our token is now available on four exchanges: Bittrex Global, Bitglobal, Bitrue, and WhiteBIT. Bitrue leads the PXP market in terms of the trading volume.
What is the difference between the various PXP markets?
The PXP token can be traded on different exchanges to make the token accessible to a wider audience. There are key considerations when choosing the platform that best suits your needs.
- Bittrex Global is a Lichtenstein-based company that has gained popularity since its founding in 2014. It is one of the top exchanges in the United States and in over 50 countries. With a daily trading volume of over $90 million, it is one of the 20 largest exchanges in the world. Bittrex Global provides corporate accounts for high-frequency trading firms, hedge funds, private trading firms, market makers, crypto exchanges, and other institutional clients.
- WhiteBIT is a centralized European cryptocurrency exchange founded in 2018. It ranks among the top-40 by daily trading volume and serves more than one million users worldwide. The exchange was founded by an international team with extensive experience in finance and blockchain technology.
- Bitrue was founded in 2018 and is based in Singapore. It is one of the fastest-growing exchanges and offers hundreds of mainstream currencies and altcoins for trading. Bitrue’s trading platform combines the benefits of a decentralized ecosystem with the convenience of a centralized exchange. The trading platform now serves over 4 million users who can use it to easily trade, borrow, and earn interest on various digital assets. Bitrue offers its users access to margin trading and allows them to trade instantly without going through the KYC process.
- BitGlobal is an exchange for cryptocurrencies that was launched in 2019. It was rebranded by the company previously known as Bithumb Global. Bithumb Global is a highly liquid South Korean digital asset exchange, with a daily trading volume of $459 million (as of April 6, 2022).
Exchanges charge different commissions and fees. Please note that these trading and withdrawal fees are subject to change. Therefore, please check the website of the exchange you are using before making your purchase or trade.
All four exchanges complement each other perfectly. PointPay is committed to providing a simple and convenient platform for its token holders. All of these efforts are part of PointPay’s goal to be listed on a Tier 1 exchange.
Why can’t you trade PXP on the PointPay exchange yet?
PXP is not available yet on the PointPay exchange due to the requirements of the Tier-1 exchanges. If our native token is listed on our own trading platform, top-10 exchanges will find it difficult to verify the real volume of PXP tokens traded. Since one of our main goals for 2022 is to list on the Tier-1 exchange, we have eliminated the access to PXP on the PointPay exchange. We will be able to open PXP trading on the PointPay trading platform immediately after listing it on the Tier-1 platform. So stay tuned for updates, as we’re in talks with several exchanges!
