SwitchX(SprintX)

SwitchX will be the first Exchange oriented to adapt the blockchain functionalities. It will be able to unite the virtual and real world bringing the blockchain technology closer to the business needs and the new demands of cryptocurrency users. It’s about an advanced, safe, and democratic environment.

Some of the SwitchX characteristics are:
-Exchange.
-Debit Card Service.
-Assimilation to Airdrop.
-Adaptability to Forks.
-Hot and Cold Wallets.

Current Exchange status

Currently obtaining cryptocurrency, mainly Bitcoin or Ethereum, is done using an existing Exchange. An Exchange of cryptocurrencies is a web site dedicated to the exchange of cryptocurrencies directly or indirectly using a FIAT currency. The user who wants to obtain the cryptocurrencies enters in any Exchange using a real-world paid system that normally is a debit/credit card or a bank transfer. This transfer arrives to the Exchange parent account and once the amount received is verified, it is converted manually to the requested cryptocurrencies.

The Benefits of the operation is based on the use of commissions associated with each transaction. These commissions, as can be seen in other Exchanges, usually go from 0.10% to 0.25%. There are differents Exchange that base their business model on cryptocurrency trading, based on the rotation of the values using Bitcoin. The majority of Exchange have the politic based on the use of fictitious accounts and the reflections of the balances of the user from the calculation of the operation carried out with cryptocurrency. Also, the price of the cryptocurrencies generally it is usually adjusted and always has a margin used by the Exchange to obtain small profits on the sale of cryptocurrency. Although, the sale is fictitious. 

SwitchX’s future for the Exchange

At present, the type of cryptocurrency exchange systems has worked well and has marked the beginning of this service; However, its current characteristics and form of operation will be insufficient for 2018. Above all, because they have started from mechanisms of the real banking world to try to support the world of cryptocurrency. The new generation of Exchange will be supported by a new set of products/ services linked to blockchain with Smart Contracts, so they are accessible to any company or service provider, such as lawyers, service companies, supply chain, etc. This functionality is not currently available in any Exchange and will become required in the future due to how frequent this type of operations will become.

SwitchX will be the first product of a new generation of Exchange, which will integrate naturally and inclusively the real world and the virtual world. It will offer services adapted to the world of cryptocurrency and will seek maximum profitability for all its owners.

Switchx will be differentiated from the other Exchange in the following aspects:

⠂ Provide any user with a virtual debit card associated with the funds in their accounts, which will allow payments to be made directly using the funds of the Exchange immediately.

⠂Users will be provided with the necessary cryptocurrency accounts they need, and the possibility of providing them with cold and hot wallets.

⠂SwitchX will provide users with a virtual card that will allow payments to be made at any trade or website using Exchange funds. It will not be necessary to use other intermediaries to be able to use the money managed in the Exchange.

⠂A set of simple, powerful and accessible tools will be provided to companies or individuals without programming knowledge that allows to deploy Smart Contracts instantaneously on various types of blockchain (particularly Ethereum).

⠂Active support to all airdrops, be they Bitcoin or other cryptocurrencies that use the Bitcoin blockchain. The user will not have to request it, SwitchX will provide it when they occur.

SwitchX as an SRO

SwitchX will become a Self Regulated Organization (SRO) and will achieve a License with the following features:
1. Manage assets on behalf of customers (discretionary or nondiscretionary basis).
2. Accept or hold on deposit assets belonging to others and assist in the investment or transfer of such assets
3. Trade in securities (stocks and shares and value rights) as well as their derivatives, banknotes and coins, money market instruments, precious metals, commodities.
4. Open FX, CFD and commodity trading accounts for customers.
5. ICO allocations, Crypto Currencies trading and changing.
6. Carry out credit transactions (in particular about consumer loans or mortgages, factoring, commercial financing or financial leasing).
7. Provide services related to payment transactions, in particular by carrying out electronic transfers on behalf of other persons, or who issues or manage means of payment such as credit cards and travellers’ cheques (to use the firm for this will require significant additional costs, time and investment).
8. Make investments as investment advisers
9. Hold securities on deposit or manage securities.
10. Provides bank account signatory services for clients world wide.
11. Open bank/investment accounts for clients at banks without the need for a bank reference letter.
12. Open numbered bank & investment accounts for clients at select Swiss and Liechtenstein banks.

SwitchX APP

The SwitchX application makes it safe to store and use your digital coins and use them at any time with our debit card. You will be able to use the blockchain functionalities from the comfort of your mobile phone. It allows you to convert and spend your assets at ease, either locally or when you are abroad.

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