Project Penelope POS System


For immediate release: 8/16/2018­­


Bitcoin Exchange for up and coming blockchain projects. 

TCXhub is proud to announce the introduction of our new merchant point of sale system. With a working title of Project Penelope, the official name will be announced when the project is released from its beta phase. Following the opening of the cryptocurrency exchange, the company will launch a pilot program for consumers to spend cryptocurrency at retailers via a turnkey solution offered exclusively to TCXhub members. 

“These two projects have been a long time in the making even though they will be hitting the market around the same time.” stated CEO David Reeve who continued, “One of the biggest barriers to retail acceptance of cryptocurrency is the conversion to fiat in order to pay suppliers and cover traditional operating expenses. Our program will have a $50 million reserve pool funded by a private equity firm that will give retailers the option to accept cryptocurrency or convert the cryptocurrency transaction to dollars on a single transaction level. This transaction will occur between an app on the consumers’ phone and the “Penelope” point of sale system.”

While details of the program as still under wraps, the team is confident of a late Q4 launch of Project Penelope program. “After the test market, we will evaluate the data and make the necessary adjustments,” according to CMO Rob Davis while continuing, “Our target date for universal market rollout is Q1 2019 with our marketing ambassadors meeting and signing up merchants into the program. The system and infrastructure are built to scale quickly because of several industry strategic partnerships.“

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TCXHUB Exchange Updates

 TCXhub - The Cryptocurrency Exchange That Will Revolutionize Trading

TCXhub is a revolutionary new cryptocurrency exchange that promises a trading experience that no other crypto exchange has yet to offer. Targeting a September 15th launch, TCXhub will be the world's first cryptocurrency exchange to offer "custom pairings" to its customers. What does this mean? The innovation of custom pairings can create thousands of trading markets that currently don't exist  - effectively allowing for the trading of any cryptocurrency against any other - while rendering obsolete a cumbersome crypto trading process that continues to frustrate many traders. The ease of use of TCXhub also includes a USD fiat on-ramp for U.S. residents (with additional on-ramps for other fiat currencies under exploration), positioning the exchange to become an easy choice for novice traders who are making their initial foray into the world of cryptocurrency trading.

A LIttle Recent History

In 2017, Ethereum's popularity and surging price gave rise to an ICO crowdfunding boom that eventually gave birth to hundreds of ERC-20 tokens, along with competing protocols and other crypto projects that were not built on Ethereum. The resulting proliferation of "altcoin" cryptos created an opportunity for rampant speculation and trading activity - while the surrounding infrastructure of crypto exchanges raced to keep pace with the rising demand created by a robust bull market. With Bitcoin reigning supreme and Ethereum gaining in prominence, the two bellwether cryptocurrencies served as the primary gateways to the altcoin marketplace. To this day, with few exceptions, whenever a trader wants to buy a specific crypto, one or more intermediary steps must be undertaken that involve the purchase or sale of Bitcoin or Ethereum prior to the desired crypto trade taking place.

The Need For Custom Pairings

TCXhub removes the unnecessary "middle trade" by allowing for the creation of custom pairings that serve as a direct means of trading any crypto against any other. For instance, let's say that someone wants to sell Stellar (XLM) and buy Tron (TRON). At any other exchange, doing such a trade necessitates selling XLM first for either Bitcoin or Ethereum, and then buying TRON with the BTC or ETH proceeds. This extra "middle trade" always incurs transaction fees and takes time, during which price can also move against the trader. Furthermore, a trade can become even more expensive, time consuming and inconvenient when a trader wants to sell one crypto for another but the two cryptos don't trade on the same exchange. In this scenario, there is no escaping the fact that a trader will be forced to transfer crypto from one exchange to another exchange in a process that is inefficient, time consuming and costly.

Enter TCXhub - The "All Inclusive" Exchange

The innovation of custom pairings and the extreme flexibility that they offer help to create a user experience that is second to none within the cryptocurrency exchange landscape. Users are encouraged to create their own custom pairings between any two cryptos that are listed on the exchange, and TCXhub aims to support all coins and tokens across all creation platforms. With four weeks remaining until launch, the number of listed cryptos on TCXhub currently exceeds 100, and that number is rapidly expanding. Rather than charging astronomically high listing fees, TCXhub is freeing up the exchange-listing marketplace by charging an extremely modest listing fee accessible to virtually any token development team, with this fee waived for verified non-profit crypto projects. 

Meantime, users can look forward to tremendous versatility accompanied by low transaction fees - in addition to the outright elimination of all transaction fees that would otherwise be incurred as a result of the "middle trade" and any transference of crypto assets from one exchange to another. Other significant benefits of TCXhub's all-inclusive approach include its lack of any required significant minimum deposits and its intention to never impose a lock-up on registration sign-ups. TCXhub also has an active and burgeoning Telegram community with members such as Funkydrummer and Lochinvar Lass already envisioning the potential benefits of the exchange. Both see the merit of trading coins that they have mined on their own in a custom pair at TCXhub for a different holding coin of their choice without a middle BTC trade and two sets of fees, price fluctuations and jumping from exchange to exchange.   

The TCXhub Mobile Pay System

TCXhub is also working on a crypto mobile pay system that will allow users of the exchange to seamlessly purchase products and services with cryptocurrency held in a TCXhub trading account. Initially dubbed "Project Penelope,"  the mobile pay app scheduled for launch in Q4 will connect TCXhub users with participating merchants who accept cryptocurrency as payment. What differentiates Project Penelope from other emerging mobile crypto pay systems is that it will provide participating merchants and vendors with the option to immediately convert the cryptocurrency they receive into US dollars. This feature alone could prove to be a magic bullet that helps accelerate mainstream adoption of cryptocurrency, given an expanding footprint of participating merchants and vendors within the TCXhub Mobile Pay system.

Get On Board

TCXhub, through its groundbreaking innovation of custom pairings and attractively low listing fee for projects, is positioning itself to become the world's Total Crypto Exchange Hub. Not only will it offer faster and less expensive trading, but TCXhub also stands to drive the entire cryptocurrency space forward as it attracts both new and experienced users through its extreme versatility and ease of use. Throw on the prospect of a mobile pay system and things get even more interesting for TCXhub, its users, and the entire cryptocurrency space. Check out now and pre-register your account to have 100 TCXB tokens (valued at $35) deposited into your account on launch day, absolutely free. TCXhub is coming September 15th. Are you ready?