Priority Ex is Thailand’s wallet service, brokerage, and a cryptocurrency exchange which holds an ICO for its own cryptocurrency. Their Initial Coin Offering (ICO) entitles owners to discounted transactions and dividends. The company’s goal is to make its platform an effective solution for the user’s needs regarding cryptocurrency investment.
With its base being in Thailand, PriorityEx’s main focus is to increase the marketing efforts in southeast Asia. This, however, does not exclude the fact that they will feature their platform in more than 15 languages which will allow them to cover most of the world’s population.
The company’s team consists of six founders, four advisors, and twenty employed individuals. Their website does not have biographies about any of them. They plan to hire a lot more in the near future in hopes of creating a multilingual support service and a team.
PriorityEx saw an increase in popularity on social media by having more than thirty thousand likes on their Facebook page and three thousand on their Twitter account. It needs to receive more publications in English regarding cryptocurrencies meaning that their popularity will most assuredly increase to new levels.
PriorityEx’s Main Product – PYX Product
Brokerages and Cryptocurrency exchanges are what is PriorityEx’s main product. Its aim is to address as many problems as possible. The problems are usually present in the competitors, and they include unreliable customer verification, a small variety of cryptocurrencies and fiat, unavailable non-stop customer service using 15 languages, and weak security through authentication. PriorityEx seeks to fix all aforementioned problems. They also want to offer a peer to peer exchange, centralized brokerage service, and built-in wallets with multiple currencies for users who do not have their own. There are two variations of their platform: in the form of the website and the app (for Android and iOS).
The company is currently in the process of raising the necessary funds by using the ICO so that the platform’s development is on time and live. The app’s first version is set to launch in April in 2018, according to the roadmap in the company’s whitepaper. Moreover, its peer to peer feature should arrive in June. Its wallet debuting will be up until the end of the year.
They are also working on their debit card system via which users can connect their multiple-currency wallets and use them in establishments. Many consider this technology to be ambitious, but if executed properly it can stand as an intriguing innovation.
The company’s Initial Coin Offering for their currency PYX started on February 1st in 2018 and is currently underway. It ends on March 31st. Investments are limited to five Bitcoins, and there are only 24 million of PYX coins currently available. Four million were sold in the period before the Initial Coin Offering (January) which means that the remaining twenty will be sold during the ICO.
PriorityEx prohibits users from U.S., Great Britain, China, Singapore, and New Zealand from participating in the ICO. These countries have very strict regulations which are not on par with those of the company. Those who can participate and become PYX token owners can benefit from each transaction on the platform. There’s a 25% of the initial transaction revenue which the company pays to the owners each month. In addition, another 20% of the revenue can be used to acquire tokens at the market.
Short Summary and Final Verdict
PriorityEx has the potential to become one of the more popular exchange services if it fulfills all the necessary requirements. Their focus is on expanding the platform and appropriating it to a wider audience by increasing its multilingual aspect. Another intent is to accept a sheer variety of fiat currencies which is likely to attract more users. Not only is it oriented towards serious investors but to casual ones as well. Their debit card system might be a groundbreaking innovation if executed properly.
Their PYX token offers more stability in comparison to some of the other cryptocurrencies, and it could prove to be a significant source of income in the future.
All in all, the company’s platform hasn’t been launched yet so there’s still room for potential improvement and things might change until the point of its launch comes. There’s still a lot that PriorityEx has to prove before winning the full trust of its potential investors.
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