MinexSystems, a full-service development company specializing in blockchain products, has started shipping the globally accepted cards ordered via MinexPay. Soon, users from all over the world, without limitations, will receive the first batch of cards ordered with MinexPay service, allowing them to spend the crypto on goods and services where usual payment cards are accepted and, more importantly, cash out crypto at the nearest ATM starting at 0% fee. As an integral part of the ecosystem, Minexcoin is expected to grow in demand thanks to the general amount of MNX held at the minimum required card balances. MinexSystems also invites users to benefit from 45% yearly parking rates within its unique service — MinexBank.
Currently, MinexPay offers four different tariff plans for the ordered cards: Standard, Gold, Platinum, and Infinite. Depending on the plan type, the ATM withdrawal fee starts at 0%, meaning that users can cash out crypto for free and receive up to 1% cashback for payments with the card purchased at MinexPay. More information about the tariff plans, fees, and limits can be found here.
“We have successfully launched the card program until the end of 2018,” says Boris Shulyaev, Founder and CEO of MinexSystems. “And even though we didn’t manage to issue the cards with MinexPay logo before the winter holidays, we are working on that and will present the branded cards in the nearest time, already this year.”
Minexcoin is an integral part of the MinexSystems network. Therefore, the more people use any of the services, the more demanded MNX becomes. In case of the cards purchased via MinexPay, users need to have 1,000 MNX as the minimum required balance to cash out crypto at 0% fee, or 200 MNX — to cash out crypto at 2% fee. This minimum required balance in MNX entirely belongs to the card owner and they can withdraw it at any moment. However, to take advantage of such low fees, users need to hold a particular amount of MNX on their card balance, as shown in the example above.
According to the requests, MinexSystems is expecting 30,000 card sales by the end of Q2 2019, and, if the forecast is correct, there will be over 3 million MNX held at the minimum required balances, which is 75% from the existing circulation supply. Naturally, it will affect the Minexcoin price positively.
More information about the minimum required balances for each tariff plan can be found here.
Apart from the global crypto debit cards, MinexSystems offers various blockchain products. Thus, one of the company’s unique services, MinexBank, is the first that encourages Minexcoin owners to hold the MNX coins in their wallets with a savings purpose. Thanks to this mechanism, everyone can get Minexcoin for free as interest for their balance assets in MNX without transferring funds to anyone.
MinexBank uses parking as a confirmation of the intention of Minexcoin holder not to bring the coins from the wallet to the market within the specified period. This intention is confirmed by the Minexcoin owner by creating an application in the MinexBank algorithm. MinexBank offers various parking rates depending on the timeframe. For example, currently, users can benefit from up to 45% of the yearly rates. More information about MinexBank services and rates can be found on the official website.