With the development of distributed ledger technology, blockchain-based wallets have gained a lot of traction, winning over 25+ million clients. Used to deposit money and make non-cash transactions, such wallets urge the creation of convenient solutions for crypto transactions. Stablecoins, which are becoming a real trend this year, make the need for such solution even stronger. USDX Wallet payment system seems to be an excellent one.
USDX Wallet is a blockchain-based application that enables multi-level security of transactions and instant transfers of assets via a phone number. Providing a bank for those without one, it features global availability, multi-level security, and extreme convenience along with lightning-fast remittances.
This payment system deals with such problems as volatility of cryptocurrencies, long and complicated wallet addresses, security issues related to storing and entering private keys. Excessive fees for small transactions, deceptive prices designated in cryptocurrencies, and low transaction speeds are also paid strong attention to.
The native blockchain is based on BitShares, allowing 100,000 transactions per second. Fitted with a slick design and smooth navigation, USDX Wallet is already available at Google Play and App Store. The app provides a two-factor authentication (2FA) via SMS or push notifications for even more security.
According to the whitepaper, all USDX services are based on AWS and the Google Cloud platforms, which foster scalability, maintainability, and the overall security of the system. Regular app updates are provided for both iOS and Android platforms. For example, developers plan to add Face ID and Touch ID features soon..
Cryptocurrencies Featured by USDX Wallet
USDX Wallet features two cryptocurrencies, USDX token, and LHT coin.
USDX is a price-stable token pegged to the US dollar at a 1:1 ratio via a smart contract, which controls its supply. Due to its stability, USDX is very useful as a means of payments and savings. It can’t be lost, stolen or damaged. USDX tokens can be purchased via the native app with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and a bunch of other altcoins.
A core cryptocurrency and a collateral for the USDX is the Lighthouse coin, or LHT, which refers to Lighthouse Blockchain Technology, the company behind the app. The smart contract guarantees that each USDX token is collateralized with at least 200% worth of LHT.
According to the developers, the combination of the LHT token and USDX stablecoin is boosting global cryptocurrency usage and increasing its safety.
The total amount of LHT coins is limited to 1 billion. The coins will be issued to the market gradually. In the first year, only 5% of LHT will be issued to the market. Another 5% will be locked on the blockchain to provide 200% collateralization. Withholding coins will ensure LHT owners that the value won’t suddenly evaporate if the market becomes flooded.
The token sale has started on November, 1 and will last until December, 31, or until all the allotted coins are sold from this first pool. The project has already got venture investment, that’s why there are no private sales or presales. The listing is scheduled for January 2019.
Until the end of 2018, buyers can get bonuses for any coin purchases. To get a 35% bonus, you need to download the USDX Wallet app, register, and get 35% extra tokens on your first purchase. For a 25% bonus, you have to invite friends. 10% more bonuses for second and all subsequent orders.