Where can I spend Bitcoin? The question is frequently asked and speaks directly to the mass adoption of cryptos. Introducing Flexa Coin, a token that allows payment via various coins’ networks into the merchant’s own bank account.
What is Flexa Coin?
Even though headway has been made with the mass adoption of cryptos, the adoption of crypto payments by various merchants is slow. This is mainly due to the extreme volatility in the market and merchants being unsure if they would get their price when selling an item for cryptos. It has also become a challenge for both merchants and crypto spender which cryptos are accepted as payment? Bitcoin, Ethereum, Ripple or any of the other 1000 coins currently on the market?
This is what makes Flexa unique. It allows one to spend any crypto at specific merchants. It’s a global network that allows anyone to use any coin, across any border via an app. Make instant payments at retail point-of-sale with the Flexa network. The network acts as a temporarily secure ‘holding’ place for a cryptocurrency transaction that is awaiting confirmation on the blockchain. If a transaction is not confirmed due to blockchain vulnerabilities or malicious activities, for example, the Flexa Coin collateral will be liquidated in order to cover the fiat advance. This means there is no risk for merchants when accepting Bitcoin as payment and is fraud-free. The company is based in New York.
Staking Flexa Coin
The deal is as follows: If you allow your funds to be used as collateral for secure Flexa payments by means of staking Flexa Coin, you will be paid a transaction fee on every transaction processed through the app. In the near future, Flexa Coin stakers will be able to choose projects that determine how much stake is due across the network. Both businesses and developers can stake value on the network to enable merchant payment processing.
Learn more about staking with Bitmart’s blog ‘What is staking?’
How does it work?
Easy to use and obtain. This is Flexa Coin’s goal and it promises to be ideal for both developers and consumers. For this reason, the coin has not been developed on a new blockchain but on the ERC20 network.
A private sale was held in 2018 during which time $14 million was raised. The proceeds have been used to build the Flexa network and various infrastructure partners have come on board. The token sale saw the likes of 1kx, Access Ventures, Nima Capital and Pantera Capital climbing on board.
When paying, no personal info will be exposed as opposed to paying with a credit card. The Flexa network acts as a crypto-friendly bridge. Therefore, the Flex Network Protocol (FNP) has been designed to enable payments in any crypto and from any wallet to any merchant around the world, online and in-store. All you have to do to shop is scan an embedded QR code.
Trading with Flexa Coin
Since 23 April, the price of Flexa Coin has seen a steady increase from $0.0025 to $0.0064. Check out the chart on Coinmarketcap, click here. The coin is currently trading on IDEX and CoinExchange.