TenX coin is a cryptocurrency of the same-name platform, which offers crypto-debit cards and cryptocurrency wallets, as well as applications for Webapp, iOS, Android. The goal of the project is to provide users with the opportunity to pay for purchases using Bitcoin, Ethereum, DASH and other ERC20 altcoins.

TenX coin (PAY)logo

Tenx token Project website

ICO start date: 2017-06-24



COMIT compatible wallet, making global payments as cheap, fast and easy as sending a text message.


  • 2011. Toby Hoenisch[1] , the founder of TenX studied cryptography while studying at the university, but he did not believe in success of cryptocurrencies: he thought that only narrow circle of specialists were interested in them.
  • 2012. Toby got acquainted with a representative of the bitcoin-community from Osaka, who could not set up a bank account and therefore used a Tenx crypto currency. Hoenisch started trading Bitcoin.
  • 2015. Hoenisch and Michael Sperk[2] participated in the MasterCard hackathon[3]. Subsequently they established their first OneBit start-up: the debit cards, using which you can pay with Bitcoin[4]. However, the project was not popular .
  • 2016-2017. On the basis of OneBit, Hoenisch created the TenX project, which successfully underwent training in the PayPal Fintech-startups incubator (Singapore) and received legal support from the organization[5].


TenX (PAY) Cryptocurrency Coin Review: Debit Card Payment Platform
  • Advance sale of tokens, June 14. It was possible to raise 100,000 ETH, the minimum threshold was 125 ETH. Trading participant received a 20% bonus[6].
  • ICO, June 24. The goal for fund raising was achieved (the company collected 245,832 ETH, which was more than the planned 200,000 ETH)[7].
    • The sales lasted only 7 minutes
    • ERC20 tokens (20 kinds of different coins) were accepted, 1 ETH was exchanged for 350 PAY. In total more than 1112 deposits were registered in altcoins.
    • More than 4,000 people were able to become investors.
    • Total sales reached $83 million (at the ETH exchange rate at the close of trading).
    • Tokens were also issued for “surplus” of collected funds (45,832 ETH). TenX plans to use them to “achieve greater liquidity”[8] in the ecosystem.
    • Listing and the start of PAY trading on the Bittrex exchange, July 7[9]

TenX Price

TenX Price is available on COIN360 widget:


Distribution of tokens

The “White Paper” did not specify the maximum number of PAY tokens produced, only the number of ETH that the organizers planned to collect during the ICO.

In the long term, 80% of the tokens will be distributed among all members of the TenX community. In such case:

– 51% of PAY will be sold through ICO, which will provide the project with financing for 4 years.

– 29% of tokens will be distributed among developers and enthusiasts who contributed to the development of the project[10].

– In the future, all holders of TenX wallets will receive 0.5% in PAY from the total monthly turnover of transactions in the system[11].

That is, the advantages for holders of tokens are related to the number of users and the volume of payments of the platform. Information on the volume of transactions and the number of wallets is not disclosed by the developers, which was the cause to criticize TenX[12].

Technological characteristics

COMIT represents a protocol that allows transactions to be conducted between several blockchains. It is based on two principles[13] :

  • The Lightning Network: transactions are conducted off-chain. Hashed TimeLock Contracts (HTLC) are used for this purpose. This type of smart contract comes onto effect by the secret number x, which was initially possessed only by the creator of the smart contract. X number transferring the means transferring of money.
  • Liquidity must be provided for work of the Lightning Network. The system creates stimuli for TenXWallet users to keep funds in their wallets.

For detailed description of the protocol work see the «Whate Paper»[14] COMIT.

Specificity of application

TenX products

1. Debit banking cards. The cards keep Tenx crypto currency; when making a payment, it is immediately converted into fiat money.

  • TenX does not have any agreements directly with Visa and MasterCard. TenX cards are issued by the WaveCrest partner bank, which is a partner of the above payment systems[15].
  • The issue of physical card costs $ 15, virtual one – $ 1.5, service – $ 10 dollars per year (with spending> $ 1000 per year – free of charge).
  • The cardholder will receive a reward of 0.1% of all his or her transactions in the form of TenX tokens
  • After October 16, 2017, WaveCrest changed the conditions of the service: cardholders outside the EU will not be able to use them.

2. Wallets

  • Tenx crypto currency will be converted with the help of the COMIT protocol (Cryptographically-secure Off-chain Multi-asset Instant Transaction), which combines various blockchains[16].
  • Prior to the implementation of COMIT, the security of the key is ensured by the hot and cold keeping of the Tenx crypto currency[17].
  • TenX does not charge commission for payments.


The startup road map is written up for 36 months in advance.

  • End of 2017: starting COMIT
  • Mid-2018: Bitcoin and Ethereum integration in COMIT, transaction volume is 1B
  • 2019: Issue of TenX own cards, transaction volume is 20B
  • 2020: obtaining a banking license for work on the basis of the blockchain, the volume of transactions is 100B

It is possible that due to changes in the conditions of the agreement with WaveCrest, the road map will not be implemented on time. However, TenX developers do not allow panic among investors: they are actively communicating on their YouTube channel[18], (question/answer headings and report vlogs on the current state of affairs).

Meanwhile, the PAY price on the stock exchanges is falling: in the summer the token was traded near the $5 mark, in the autumn its value is fluctuating around $2. [19][20]

The main competitors of TenX are companies such as Monaco, Xapo, Wirex and TokenCard. Differences of PAY from the listed competitors are described in the “White Paper” of the project[21].


June 21, TenX representatives posted on twitter account an announcement about a swindlers’ site, the address of which differed from the company’s official website by only one character[22].

August 23 on Reddit appeared a first question from TenX about the AirDrop service through which free tokens were believed to be received[23].

Representatives of TenX said that they did not have such development, warned users about fraud. Reminders on protection of wallets, observance of safety rules in connection with work of AirDrop were issued in TenX account on twitter until September 26[24].

Social media

Tenx twitter

Tenx Slack

Tenx Facebook

Tenx Blog

Tenx Linkedin

See Also on BitcoinWiki


  1. https://www.crunchbase.com/person/toby-hoenisch
  2. https://www.crunchbase.com/person/michael-sperkM
  3. http://www.hackathon.io/one-bit
  4. https://bitbitecoin.com/archives/3759?lang=en
  5. https://bitcoinist.com/tenx-ico-raises-34-million-7-minutes/
  6. http://forum.cryptoinside.xyz/threads/ico-tenx-multi-blockchain.123/
  7. https://www.tenx.tech/tokensale.html
  8. https://www.ethnews.com/tenx-token-offering-results-are-in
  9. https://medium.com/@TenX/press-release-tenx-pay-token-starting-to-trade-on-bittrex-by-friday-4pm-utc-86634771fe63
  10. http://forum.cryptoinside.xyz/threads/ico-tenx-multi-blockchain.123/
  11. https://www.tenx.tech/whitepaper/tenx_whitepaper_final.pdf
  12. https://www.youtube.com/watch?v=h6ZmM11o9og
  13. http://www.comit.network/doc/COMIT%20white%20paper%20v1.0.2.pdf
  14. http://www.comit.network/doc/COMIT%20white%20paper%20v1.0.2.pdf
  15. https://www.tenx.tech/card-terms.html
  16. https://www.tenx.tech/whitepaper/tenx_whitepaper_final.pdf
  17. https://www.tenx.tech/whitepaper/tenx_whitepaper_final.pdf
  18. https://www.youtube.com/channel/UCrh49JX-9UQJbee6e4EGhog/featured
  19. https://bittrex.com/Market/Index?MarketName=BTC-PAY
  20. https://steemit.com/crypto-news/@rok-sivante/ico-review-tenx-why-i-love-the-project-but-am-passing-on-the-sale
  21. https://www.tenx.tech/whitepaper/tenx_whitepaper_final.pdf
  22. https://twitter.com/tenxwallet/status/877449648725794816
  23. https://www.reddit.com/r/indorse/comments/6xl1g9/indorse_airdrop_for_tenx_holders/
  24. https://twitter.com/tenxwallet/status/877449648725794816


Tenx Project website

Tenx Crypto

Tenx price and market state on Coin360