TenX Card order & Account Verification update
Tags: Bitcoin, Ethereum, Tenx, Cryptocurrency, Blockchain

In the coming weeks, we’ll be making some major changes to the way that we handle new orders for the TenX Card.

If you’re a TenX user who hasn’t yet ordered a card, we’re no longer accepting paid pre-orders. Instead, we’ll be moving to a waitlist model.

We’re also introducing a new account verification process, which all cardholders have to complete in order to receive their card. If you have previously ordered a card, do expect to receive a notification about this prior to cards becoming available in your country.

We’ll begin introducing these changes in version 3.9.1 of the TenX Wallet app. Get it on iOS and Android.

What does this mean for you?

If you’ve pre-ordered the TenX Card, or you were previously a TenX cardholder that’s eligible for a replacement card.

If you’re an existing TenX Card customer, nothing will change for you. However, there are some things you need to note.

As an existing customer, you’ll always be on the top of the list to get a card, whenever it is available in your country, as your place is reserved.

However, at anytime, you can choose to request a refund for your pre-order (which will be refunded in Bitcoin, using the current exchange rate, deposited to your TenX Wallet).

If you ask for a refund, your old pre-order or order will be void. You’ll no longer be eligible to receive a card when it becomes available in your country. However, you can still join the waitlist or pre-order/order a card when it becomes available in your country.

Note that when cards become available in your country again, you will be required to verify your account in order for us to ship the card to you (see the section on Account Verification for more information).

If you haven’t yet ordered a TenX Card

You’ll no longer be able to reserve a TenX Card by pre-ordering one before it becomes available in your country. Instead, you will have the option to join the card waitlist to be notified by email and push notification when the cards become available in your country.

Why are we doing this?

The original rationale behind accepting paid pre-orders was to gauge interest before we made the necessary preparations to launch in a new country.

Launching in a new country represents an investment of capital and work from our team, so we wanted to ensure that we focused on the right countries by only allowing genuinely interested customers to pre-purchase their card and reserve their spot.

However, it has since become clear from the overwhelming response that our card is highly in demand in more countries than we can immediately support. As such, we’ve made the decision to only charge a card fee when it is clear that we’ll be imminently launching in that market.

A waitlist will let us continue to offer the ability to gauge interest from our fans, as well as to let you be among the first to know when the TenX Card becomes available in your country. We believe this is a better way for our users to indicate interest in the TenX Card.

What should I expect once the TenX Card becomes available in my country?

We’ll first open pre-orders a few weeks before cards are due to ship. This is to allow anyone who’s on the waitlist to reserve a card. If you’ve already pre-ordered, or you’re eligible for a replacement card, you will be asked to verify your account as we make preparations to print and ship your card. When cards become available in your country, it will be open for anyone to order. In cases of overwhelming interest, we might stagger this to only a percentage of users. At this point, we’ll ship out the TenX Card to users who have pre-ordered, and who have verified their accounts.

Just like before, pre-ordering or ordering a card is subjected to a card issuance fee of $15 USD, which is payable in Bitcoin, Ether, or Litecoin stored in your TenX Wallet.

What is Account Verification and why do I need to go through this process in order to receive my TenX Card?

In order to ensure legitimacy and compliance with each country’s financial laws, we require every cardholder to go through a short “account verification” process to prove that they’re a real person.

There are a few main reasons why we do this.

The first is that TenX gets to operate a legitimate business in your country, which allows us to offer our products and services to you in a sustainable way.

Secondly, we want to make sure that your card can be delivered to you, and that it will work reliably. Having the name on your card match your identification documents will help you avoid identity verification problems on many types of purchases such as flight tickets. In addition, checking your address allows us to verify if it’s an address we can ship to.

Lastly, by verifying your identity with us, you’ll always be able to recover your account and your funds, as long as you’ll be able to prove your identity again.

Because we uphold compliance with local laws and fraud prevention to the highest degree, TenX is able to operate in financial networks and legal jurisdictions that serve to protect consumers and merchants from bad actors, so you can be sure that it’s safe to transact with merchants in the real world.

While we believe that the future is decentralised, and there will be better ways to stay compliant and safe from fraud in a decentralised manner, debit cards still operate in a highly regulated and centralised world.

Ultimately, we’re trying to offer practical ways that you can use decentralised assets in the real world, and we believe that this is the best way for us to keep it trusted and secure.

When will I see these changes?

Updates to the card order waitlists and pre-orders will be released in version 3.9.1 of the TenX Wallet app.

Further improvements to the card order and account verification flows are currently being worked on, and will be released in the subsequent releases.

We’re constantly testing these features to make sure that they work the best for you. If you’d like to give our app a test drive, do sign up using this form.

If you want to keep up with our latest progress: