Full-Scale Banking With Passive Income up to 20% Monthly

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The history of money goes back deep into the past: it started with shells and pearls at the beginning of time and has now evolved into electronic money and cryptocurrencies. The blockchain-based money is the culmination of the evolution of exchange and saving. One can send cryptocurrencies instantly and without volume restrictions to any place on earth, while sending money through banks can take hours or even days. The difference becomes even clearer with international transfers, which are expensive and time-consuming in traditional banking. Then why do the majority not use cryptocurrencies? First, it’s still not easy from a technical point of view. However, the main reason is that 99% of the time it is still not possible to use cryptocurrencies to buy goods or services.

Cryptocurrencies are not accepted in stores and cannot be used for everyday shopping as the high volatility is constantly changing your balance and causing inconvenience for both traders and you. By selling goods for cryptocurrencies, vendors risk making less revenue at the end of the day if the cryptocurrency exchange rate drops. Further inconveniences arise from the fact that the crypto-fiat exchange still requires a third-party service with corresponding fees or a P2P service, where more lucrative offers are associated with a risk of fraud. However, MinePlex Banking aims to solve this problem for cryptocurrency users with its fully featured mobile crypto bank that is as secure as a traditional bank but as convenient as the most advanced services.

Using cryptocurrencies in real life

MinePlex is the CrossFi platform that combines the stability and liquidity of traditional financial instruments with the security and transparency of blockchain technology. As a modern person’s life revolves around their smartphone these days, the MinePlex banking solution is integrated into the mobile phone and runs around the clock.

Thanks to blockchain technologies and the use of smart contracts, MinePlex enables a user to take control of their digital assets and be their only rightful owner who decides where and when to send their money. The MinePlex banking ecosystem includes its own blockchain, mobile crypto bank, contactless debit cards, mobile application, P2P exchange, multicurrency and hardware wallets, as well as an education platform, an online shop and the marketplace with the platform coin Plex.

CrossFi is the future of decentralized finance

CrossFi stands for Cross Finance. Just like DeFi, it is a decentralized technology that serves as an alternative to the traditional financial system. CrossFi is based on the LPoS consensus algorithm (Liquid Proof of Stake). This algorithm does not require blocking the tokens that are used for staking and any token holder on the network can participate in the process of creating and validating blocks.

The advantages of the CrossFi system include fast and easy scalability, low transaction fees, full decentralization and low volatility of the core token. The MinePlex ecosystem is based on the most advanced area of ​​development in blockchain technology, CrossFi.

Passive income when using MINE tokens

MinePlex Banking offers users and partners two types of income:

  • Mining: All holders of MINE tokens participate in the emission distribution of PLEX, the clear exchange rate of which is based on the mathematical formula with which everyone can earn up to 20% monthly
  • Multi-tier partnership program and bonuses from structural income

MINE token is the native cryptocurrency of the MinePlex platform. It is used to process transactions internally, distribute bonuses and collect commissions. The exchange rate of the MINE token is fixed and is 1 cent for a token. MinePlex also has its own cryptocurrency PLEX, which is listed on exchanges. The rate of PLEX is constantly increasing according to the algorithm on which it was built. By holding MINE tokens in their wallets, holders automatically become participants in PLEX mining for liquid tokens with a limited supply. New coins will be distributed among MINE holders and mined at the rate of 20% of the monthly deposit.

It is important that MinePlex tokens are not frozen in the user’s wallet, as is the case with Ethereum 2.0, for example, if the holder is unable to withdraw a deposit that has been sent to the stakeout smart contract. MinePlex allows users to withdraw funds at any time without incurring any withdrawal fee. The 20% monthly deposit rate along with the bank-level security is an offer unparalleled in times when bank deposits are showing near-negative returns.

MinePlex Debit Card: Buy Coffee Using Cryptocurrencies

For many years, the community has complained that cryptocurrency users cannot buy a cup of coffee with their coins. Finally, MinePlex is making buying coffee with cryptocurrencies a reality. MinePlex debit cards are accepted anywhere in the world that accepts VISA, Mastercard or Unionpay. Now cryptocurrency holders can pay for any goods or services, and it has become as easy as paying with a regular card with fiat money.

The card account is tied to the user’s wallet for multiple currencies. The cryptocurrency on the wallet balance is automatically converted to fiat at the time of purchase at the cash register or at the checkout of the online shop. This saves time and money as the exchange is done directly without a third party service. Another important benefit of the MinePlex Banking Card is that its holders can withdraw money from ATMs around the world, which is convenient and reduces the restrictions on travel.

MinePlex Blockchain: Banking without the middle man

In traditional systems, one of the main functions of the bank is to verify the identity of a user in order to avoid fraud, non-repayment and other risks. The bank employees personally monitor the verification process or assess the customer’s creditworthiness. Transactions involving huge sums of money are subject to additional controls. Therefore, the funds can be frozen until the circumstances of the transaction are clarified. Needless to say, this takes a tremendous amount of time and resources, which is ultimately offset by bank customers in the form of fees and charges.

MinePlex Banking completely eliminates the need for manual verification and third party involvement. Instead of the banking security team, which is made up of employees who may occasionally commit mistakes or misconduct, blockchain technology handles reviews and monitors compliance with smart contracts in the MinePlex system. Blockchain does not require a salary and works around the clock. Therefore, the bank in the blockchain is a huge cost reduction. Hence, MinePlex Banking can offer its users really low commissions.

The MinePlex blockchain is flexible and allows developers to change infrastructure without the harsh risks, unlike most cryptocurrencies that hit the market earlier. The transactions on the MinePlex blockchain take seconds. For comparison: The validation of a transaction on Bitcoin takes 15 to 40 minutes, depending on the commission. In this case, the mempool of the first cryptocurrency is relatively free.

In summary, MinePlex solves the main problem of the crypto industry by making cryptocurrencies suitable for everyday shopping. With the MinePlex banking debit card, users can pay unlimited for purchases or rentals anywhere in the world, withdraw cash at any ATM in US dollars or another local currency, exchange fiat and crypto currencies without third parties, carry out international and cheap commission transfers, deposits of funds in a safe place, saving money and collecting assets that bring passive income.

In general, the project sees its mission as being to spread the influence of the cryptocurrency industry around the world so that cryptocurrencies are integrated into everyday life in order to free people from the traditional banking system that imposes their own conditions. For more information on the MinePlex blockchain, PLEX’s emission and rate growth mechanism, and technical details, see the MinePlex Banking Project whitepaper.