Originally a Bitcoin debit card, TenX later added Ethereum, but pursued Dash recently under popular demand. According to Dr. Julian Hosp, co-founder and CVO, Dash’s impressive growth and positive community prompted TenX to seek integrating it next:
“Our initial idea at TenX was to only integrate Bitcoin. Then we had an investor who specifically wanted to have Ethereum on. Dash came to our attention when it climbed into the Top10 crypto currencies almost a year ago. It was then that I joined the Dash community to find out what was behind that currency. I saw how strong and positive the community was and is and that inspired us to offer the proposal to integrate DASH as well. We are not planning on integrating any other currency any time soon.”
The first Dash debit card to allow balance to remain in Dash?
Unique about the TenX card in the whole field is its ability for the user to maintain a balance in cryptocurrency. This means that a user can keep their entire balance in Dash, and it will be exchanged only when swiped, much like Coinbase’s Shift card for Bitcoin. Hosp sees this, as well as virtually no fees, as a game-changer:
“The 3 biggest differences are the extremely low fees, the multi-currency option and the benefit of leaving your money in Dash. We only charge 1.5 USD for a virtual card and 15 USD for a physical card. After that there are no fees. No FX fees, no usage fees, etc. If you spend less than 250 USD per year, we charge 1.5 USD for the virtual and 3.5 USD for the physical card to stay active. No other provider to our knowledge can offer this structure. We also allow our users to spend their money through different cryptocurrencies and not only one. This ties in with the third benefit: We do NOT change your money into Fiat, like pretty much most other providers do. We leave it in crypto and it is up to the user to decide whether they prefer to leave it in Bitcoin, Dash or Ethereum or in all 3. From June onwards we will also offer the possibility to exchange the currencies within the app, without using any third party. This way it is instant and safe.”
Regrettably, while the card will initially be available only in Singapore, by the end of the year it should be global, including coveted US availability, according to Hosp:
“Since everything that we at TenX are doing is pretty new to them, our debit card provider asked us to roll everything out step by step, starting with Singapore first and going globally afterwards. I do not have an exact date for when it will be available in the US, but for sure in 2017.”
An increasingly crowded field of Dash debit cards
In a cryptocurrency field still dominated by major player Bitcoin, options to use other coins remain limited. However, in this regard Dash is “punching out of its weight class,” gaining more debit card integrations than any other coin except Ethereum. Cards such as ShakePay and SpectroCoin, early staples in the Dash card field, are now joined by an increasing number of options, including TenX and an offering by early Bitcoin pioneer Charlie Shrem.