MinexSystems, which develops blockchain-based financial products, offers its customers cryptocurrency cards ordered via its service MinexPay, which can be used to pay for daily shopping and crypto withdrawal at the nearest ATM with a commission starting from as little as 0%. The first ordered cards have just been sent out to customers, according to the press release made available to Comparic.pl portal.
Meet MinexPay and Minexcoin
Payment cards ordered via MinexPay are directly linked to the Minexcoin cryptocoin. As the representatives of the company explained: “As an integral part of the ecosystem, demand for Minexcoin should increase due to the overall amount of MNX held on cards as a minimum deposit. Minexcoin is an integral part of the MinexSystems network. Therefore, the more people use the network services, the greater the demand for MXN”. MinexPay offers four different tariff plans — from standard, gold, platinum to Infinite (limited to 1000 cards only) — in each of them the user must have a different minimum amount of funds deposited in MNX in their account and benefit from different levels of commission, limits, and fees. Depending on the tariff plan you choose, ATM fees start at 0%, allowing you to withdraw your money free of charge while getting 1% of the cashback for your purchases. More information on tariff plans, fees, and limits can be found here.
“We successfully launched the card program before the end of 2018,” says Boris Shulyaev, founder and president of MinexSystems. “And although we didn’t manage to issue MinexPay cards before the winter holidays, we’re working on it and we’ll present branded cards this year in the near future.”
Depending on the type of plan, the ATM withdrawal fee starts at 0%, which means that users can withdraw cryptocurrencies for free and receive up to 1% cash back for card payments purchased from MinexPay. According to the press release, MinexSystems intends to issue up to 30,000 cards before the end of the second quarter of this year, which will result in more than 3 million MNX being held on the balance of pay-as-you-go cards. Currently, one MNX coin is valued at a value of about a dollar, in terms of capitalization, taking a place among the largest 400 cryptocurrencies.
Up to 45% yearly profit for parking MinexCoin with MinexBank
An additional service offered by MinexSystems is the system of “savings accounts” maintained within MinexBank. Each of the MNX holders who declare their willingness to keep them on their account within a specified period of time can count on a guaranteed rate of return after its expiry. MinexBank describes its offer as a “parking”, providing up to 45% return on an annual basis. In addition, shorter deposit periods are offered — from one day to one month (generating 0.073% or 2.8% return). At the same time, it should be noted that these values may increase or decrease depending on the demand and supply on the MNX market. ”Thanks to this mechanism, anyone can receive Minexcoin free of charge as interest for their balance sheet assets in MNX without having to transfer funds to third parties.” – informs MinexSystems in a press release.
More information about MinexBank’s services and rates of return can be found on the official website.