EVX is the Everex platform token which is a key component of Everex system and serves as an enabler for system services. EVX serves three main objectives:
- it is the internal Everex service fee currency.
- the EVX token is the fuel of an internal reward system of the Everex micro lending ecosystem.
- It connects and enables the conversion between fiat currencies and selected cryptocurrencies via the Everex wallet service.
Everex has created an internal reward system that let users use EVX token to improve user-credit score. The more EVX token a user has, the better the offered load conditions are available for the user since they own a larger stake in the Everex system. Users can earn or buy additional EVX token therefore enhancing their creditworthiness.
Another feature of the EVX token is, it connects fiat and cryptocurrencies using the Everex wallet. Users that maintain and EVX balance in their Everex wallet are able to convert cryptocurrencies, (e.g. Bitcoin or Ether) on exchanges where EVX is listed into EVX tokens. Subsequently, the tokens can be then transferred to the user’s Everex wallet and cashed out into a fiat currency. The same process works vice-versa. In conclusion, EVX can be converted into any other cryptocurrency.
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