The Aurix Chain Ecosystem came to life in 2016 as a means to simplify cryptocurrency solutions and encourage the transition from traditional to digital finance. Majed Mohsen, the founder and CEO of the blockchain platform, teamed up with fintech professionals to bring his vision to life. All they wanted was to create a high-end and fully scalable solution that would transform how people do business with cryptocurrencies.
What Does Aurix Chain Provide
Aurix blends multiple solutions and deploys them under one roof. There is an exchange where users can trade digital currencies. The exchange supports several trading pairs, features high daily trading volumes, and provides high liquidity. Besides, the platform supports Visa/Mastercard credit/debit cards, plus decentralized finance cashbacks. Cardholders with an Aurix account can pay using digital currencies at any time, anywhere. The best thing about Aurix’s arrangement with the payment processors (Visa & Mastercard) is users are not charged with annual fees.
Another feature is the eCommerce plugin, which allows businesses to accept crypto payments. Merchants and business people can integrate Aurix into their daily business and make transactions easier for customers. The platform has its native coin – the Aurix token – which gives its users discounts on transaction fees and allows members to upgrade their membership depending on the volume of Aurix tokens they trade.
Problems Facing the Cryptocurrency Industry
Majed’s vision for Aurix Chain was to solve several problems plaguing the cryptocurrency industry. These problems include :
- Inherent complexity
- Low liquidity
- Slow transaction speeds
- High/hidden costs
- Lack of security
Solutions Given by Aurix Ecosystem
To solve these problems, Majed and his team came up with the following solutions :
- A platform that provides the highest liquidity and guarantees users fast transaction speeds. Hence, Aurix users can trade as many coins as they want at lightning speed.
- Intuitive design with a friendly user interface to ensure all Aurix products were user-friendly and self reliant.
- Elimination of high and hidden commissions could increase the cost of trading digital currencies on the platform.
- High-security standards to ensure transactions are secure, safe, and autonomous; while at the same time implementing the best industry practices for data privacy and information.
The Aurix exchange is the ecosystem’s primary offering and supports BTC, ETH, LTC, and the Aurix Token. This exchange comes in both desktop and mobile versions. The mobile version means users can track down their trades, balances while on the go. Note that the mobile version is supported both on the Android and IOS environments.