FAQ

I have decided to use CROiNX. I believe, that as a first-time purchaser, the minimum amount I need to buy is just 0.01 CX i.e. one Croinet. How do I go about doing this?
You have made a smart decision.
  1. If you had reserved CROiNX before their general availability and were allotted all or some of the CROiNX you reserved, you will be considered as having already registered with EXIVOS. A CROiNX allotment notice will be emailed to you with details of your CXSA. Now you may purchase CROiNX and store them in your CXSA.
    To purchase CROiNX click on the BUY CX icon and follow the instructions provided. Once your payment is received, your CXSA will have CROiNX that reflects the net payment received (bank charges for the remittance and receipt will mean that the amount received will be a little less than the amount you remitted). You will be able to view the actual number of CROiNX in your CXSA. You're now ready to hold or effect transactions in CROiNX.
    Remember that as this your first purchase you'll need to buy at least 0.01 CX i.e. one Croinet. Subsequent purchases may be as little as 1 CROINET
  2. If you had NOT reserved CROiNX before their general availability, you may still purchase them from EXIVOS at the current selling price.
    To purchase CROiNX click on the BUY CX icon and follow the instructions provided. Once your payment is received, your CXSA will have CROiNX that reflects the net payment received (bank charges for the remittance and receipt will mean that the amount received will be a little less than the amount you remitted). You will be able to view the actual number of CROiNX in your CXSA. You're now ready to hold or effect transactions in CROiNX.
    Remember that as this your first purchase you'll need to buy at least 0.01 CX i.e. one Croinet. Subsequent purchases may be as little as 1 CROINET
How do I pay for my purchases of CROiNX?
When you click on the BUY CX icon you will be informed as to how payments for your initial and subsequent CROiNX purchases can be made. The most efficient method is by wire transfer from a bank or money remittance companies like the Western Union etc.
May I establish a CXSA by asking a friend to transfer some of his or her CROiNX to me?
No. You need to have a CXSA to receive CROiNX.
If I am a seller of products or a provider of services over the internet or in the real world, how do I receive CX from my customers?
First, you will need to have a CX Storage account (CXSA) with EXIVOS. If your customer has an adequate balance in her CXSA, she may use any internet connected device (computer, tablet, smartphones etc.) to instantly transfer CX or CROINETs from her CXSA to your CXSA.
  1. If the transaction is done on your website, all your customer needs to do is click on the TRANSFER CX icon on your website (once you have a CXSA, we will provide you the code for this icon FREE).
  2. If the transaction is done in the real world (like in your taxi, your restaurant etc.) your customer will be able to transfer CROiNX to your smartphone (RECEIVE CX function) from his or her (i.e. your customer’s) smartphone (TRANSFER CX function). The transaction will be authenticated and instantly completed.
When I or my business receive cryptocurrencies from my customers and need to exchange them for USD or other currencies, how easily can I do so? Are there any limits?
If the Transaction Settlement Software (TSS) you receive from your customers is the CROiNX, it can be sold through EXIVOS at the CX to USD (or other currencies) rate EXIVOS will quote you when you request for it (SELL CX function). There are no daily transactions limits imposed, only a per transaction limit of 10000 CX.
However, if you receive cryptocurrencies (which CX is not) you will need to know if there are any identifiable entities that have an obligation to provide you a tradable quotation for that particular cryptocurrency.
Companies that do accept cryptocurrency trading accounts only allow very small amounts of cryptocurrencies to be converted to say USD or Euros on a daily or per transaction basis.
Such limits will severely affect you and your business, if you are dependent on funding your life or businesses in fiat currency.
This is the single most important reason why CX is expected to become the preferred medium for settling online and real-world transactions.
Is there a minimum number of CROiNX my CROiNX storage account (CXSA) should have?
Yes. In order to keep the active status of your CXSA, your balance should not be less than 10 CROINETs.
What happens if the CROINET balance in my storage account drops below 10 CRT?
Your account will be classified as dormant. You will temporarily not be able to transact in CROiNX. In order to change the status from dormant to active, you will need to purchase or receive a minimum of 1 CROiNX. This does not include the less than 10 CROINETs you may still have in your CXSA.
If I purchase CROiNX and hold on to them as a long-term investment, will they go up in Value?
CX is a Transaction Settlement Software (TSS) with multicurrency features and not a cryptocurrency. CX is intended to be a safe and easily convertible multicurrency medium for settling both online and real-world commercial and non-commercial transactions.
The creators of CX did not intend it for speculative purposes. While the free market rate of CX could fluctuate with the rise and fall of major currencies against each other, the multicurrency feature of the CX will always act as a stabilizing factor.
Currency rate stability is very important to both individuals and businesses when they need to settle transactions with each other.
If I decide to sell all or just some portion of the CROiNX in my CXSA what should I do?
All you have to do is click on the SELL CX icon. EXIVOX will provide you a customized CX buying rate against your preferred fiat currency. If you accept the rate provided, you can just follow the instructions provided.
Alternatively, if you are not satisfied with the customized CX to fiat currency rate provided by EXIVOS, you may offer to sell your CX on the open market.
Although I don’t really understand how it works, I have been told that the total number of Bitcoins issued will be limited. What about CROiNX?
The total number of CX available at any point in time is based on the economics of supply and demand alone.
Furthermore, as EXIVOS has an obligation to quote customized Bids (buying price) and Offers (selling price) for CX, the numbers of CX are effectively controlled by the economic forces of CX user demand and supply.
In the case of cryptocurrencies (which CX is not) generally and Bitcoins in particular, the total number of Bitcoins outstanding is supposed to be limited through the operation of a complex, self-regulating, block chain technology-based, computer code.
Nobody really knows if this self-regulating system will actually work in the future or if the rules will be changed.
Creators of cryptocurrencies claim that their tamper-proof, computer algorithms will control the supply of their particular Cryptocurrency. We will just have to wait and see what actually happens in the future.