Emirex Token (EMRX) is the native token of the Emirex Ecosystem, a cryptocurrency platform that offers a range of services including a fiat gateway, user-friendly interface, and advanced trading tools. EMRX has multiple use cases, such as listing fees for tokenized assets and transactional fees, and is issued as an ERC-20 token on the Ethereum blockchain with a limited supply of 500,000,000 tokens.
The Emirex Token (EMRX) is the native token of the Emirex Group, designed to facilitate transactions and interactions within the Emirex ecosystem. It is primarily used for several key purposes:
- Payment for Services: EMRX can be used to pay for various services and fees within the Emirex infrastructure, such as transaction fees, listing fees, and application fees, with users receiving discounts for using the token.
- Priority Participation: EMRX holders enjoy priority participation in Initial Exchange Offering (IEO) projects.
- Referral Program: Users can earn bonus EMRX by inviting new users to register with Emirex.
- Cryptodust Conversion: Users can convert small amounts of cryptocurrency, known as "cryptodust," into EMRX tokens.
These functionalities aim to incentivize users, drive network growth, and enhance the overall utility of the token within the Emirex ecosystem.
To store Emirex Token (EMRX) tokens, you can use the Emirex Wallet, which is a highly secured cryptocurrency wallet designed to store and manage EMRX tokens securely. This wallet allows users to store all cryptocurrencies traded on the Emirex exchange and facilitates easy transfers. Additionally, you can use the Atomic Wallet, which is a fast and secure wallet app for both desktop and mobile devices, supporting over 1,000 cryptocurrencies, including EMRX.
To buy Emirex Token (EMRX) tokens, follow these steps:
Find a Reliable Centralized Exchange: Look for a trustworthy centralized exchange where EMRX is listed. You can refer to CoinMarketCap.com for a list of exchanges that support EMRX.
Create an Account: Sign up for an account on the chosen exchange, following their registration process.
Deposit Funds: Deposit the required fiat currency or cryptocurrency to your exchange account.
Search for EMRX: Find the EMRX token on the exchange and navigate to its trading page.
Place an Order: Enter the amount of EMRX you want to buy and the price you are willing to pay. You can choose between a market order or a limit order.
Complete the Purchase: Once your order is executed, the EMRX tokens will be credited to your exchange account.
- Transfer to a Wallet (Optional): For added security, consider transferring your EMRX tokens to a secure wallet like Atomic Wallet, which supports EMRX and over 1000 other coins and tokens.
Remember to always follow the exchange's guidelines and security measures to ensure a smooth and safe transaction.
The Emirex Token (EMRX) is a cryptocurrency that was launched as part of the Emirex Group's mission to bring traditional businesses into the 21st century by tokenizing real-world assets and businesses. The token was designed to be the native utility token of the Emirex Ecosystem, which includes an exchange and a marketplace where users can exchange various stores of value for digital assets.
EMRX is an ERC-20 token, compliant with the public Ethereum blockchain, and it has a total supply of 500,000,000 tokens. The token has multiple use cases within the Emirex Ecosystem, including listing fees, transactional fees, custody and servicing fees, commission and partner incentive schemes.
The token's functionality is structured around the utility it provides, aiming to create a growth spiral through the built-in mechanism where ecosystem participants can earn EMRX for their participation. This encourages proactive engagement with the wider community of traders, investors, issuers, and partners, driving growth and generating a network effect.
Emirex has a token burn mechanism, where up to 50% of all EMRX received for the sale of its products and services is burned every quarter until the circulating supply reaches 250,000,000 EMRX, which is 50% of the originally issued tokens.
The token's price has fluctuated over time, with an all-time high of $2.39 in May 2020 and an all-time low of $0.02971 in September 2019.
The Emirex Token (EMRX) is the native utility token of the Emirex Ecosystem, which is designed to power the infrastructure for the new digital economy. Here's how it works:
Token Supply and AllocationThe total supply of EMRX tokens is limited to 500,000,000, issued as an ERC-20 token compliant with the public Ethereum blockchain. The tokens are allocated among various stakeholders, including those participating in the Initial Exchange Offering (IEO), the Emirex team, private sale participants, and long-term partners. This allocation aims to balance the interests of different groups to maximize the long-term beneficial effects for the Emirex ecosystem development.
Use CasesEMRX tokens have multiple use cases within the Emirex ecosystem:
- Payment: Users can pay for products and services using EMRX tokens, which provides discounts compared to traditional payment methods.
- Listing Fees: EMRX tokens are used for listing fees for tokenized assets.
- Transactional Fees: EMRX tokens are used for transactional fees from buy/sell transactions.
- Custody and Servicing Fees: EMRX tokens are used for custody and servicing fees.
- Commission and Partner Incentives: EMRX tokens are used for commission and partner incentive schemes.
Emirex burns up to 50% of all EMRX tokens received for the sale of its products and services every quarter until the circulating supply reaches 250,000,000 EMRX tokens. This process, known as token burning, permanently removes coins from circulation, reducing the total supply.
Community EngagementThe EMRX token incentivizes ecosystem participants through various programs:
- Community Reward Program: Rewards are offered to active investors, asset issuers, contributors of work, and partner coins.
- Referral Program: Users can earn bonus EMRX tokens by inviting new users to register with Emirex infrastructure.
- Crypto Dust Conversion: Users can convert crypto dust (less than 0.001 BTC) into EMRX tokens.
- Community Voting: Holding EMRX tokens enables participation in community voting polls.
Lockups and vesting are applied to tokens allocated to the Emirex team, partners, and reserves. This emphasizes the long-term commitment to developing the ecosystem, as team bonuses are vested over three years quarterly.
Overall FunctionalityThe EMRX token creates a growth spiral through its built-in mechanism, where ecosystem participants can earn EMRX tokens for their participation. This proactive engagement drives growth and generates a network effect, making EMRX a key component of the Emirex ecosystem.
The Emirex Token (EMRX) has several strengths that contribute to its utility and potential for growth within the Emirex ecosystem.
Discounts and Priority ParticipationOne of the primary benefits of EMRX is the ability to pay for Emirex Group's products and services with discounts. Users who pay transaction fees, listing fees, or application fees in EMRX receive these discounts, which incentivizes the use of the token. Additionally, EMRX holders enjoy priority participation in IEO projects, enhancing their overall experience within the ecosystem.
Limited Supply and Token BurnThe total supply of EMRX is capped at 500,000,000 tokens, which helps maintain a level of scarcity. Furthermore, Emirex has a token burn mechanism in place, where up to 50% of the EMRX received for the sale of its products and services is burned every quarter until the circulating supply reaches 250,000,000 EMRX. This process helps reduce the total supply and can positively impact the token's value.
Community Reward Program and Referral SchemeEmirex offers various reward programs for active stakeholders, including rewards for active investors, paybacks for asset issuers, and airdrops with partner coins. Additionally, a referral program allows users to earn up to 7% on their friends' trades, fostering community engagement and encouraging the growth of the user base.
Security and ComplianceEmirex, the platform behind EMRX, is a secure and compliant exchange that offers a wide range of digital assets and services. The platform's focus on security and compliance helps build trust among users, which can contribute to the token's strength and stability.
Utility and Use CasesEMRX has multiple use cases within the Emirex ecosystem, including listing fees, transactional fees, custody and servicing fees, and commission and partner incentive schemes. This diverse range of use cases enhances the token's utility and encourages its adoption.
Strong Development Team and RoadmapEmirex has a dedicated team that has been developing the platform since 2014. The team's long-term commitment and ambitious roadmap, which includes plans to expand services to the Middle East, Africa, Asia, and Europe, contribute to the token's strength and potential for growth.
These strengths collectively contribute to the overall value and potential of the Emirex Token (EMRX) within the digital asset space.
Emirex Token (EMRX) has several financial risks that investors should be aware of. One of the primary risks is the volatility of the cryptocurrency market. EMRX, like other cryptocurrencies, is subject to significant price fluctuations, which can result in substantial losses for investors. Additionally, the token's value can be influenced by various market and economic factors, making it difficult to predict its performance.
Another risk is the limited liquidity of EMRX. With a relatively low 24-hour trading volume, investors may face difficulties in buying or selling the token quickly and at a favorable price. This limited liquidity can lead to significant price movements, further increasing the risk for investors.
Furthermore, EMRX is an ERC-20 token, which means it is built on the Ethereum blockchain. As such, it is exposed to the risks associated with the Ethereum network, including potential security breaches, scalability issues, and regulatory changes that could impact the token's value.
The token's supply and distribution also pose risks. The allocation of tokens among various stakeholders, including the team, private sale participants, and long-term partners, can lead to significant selling pressure if these stakeholders decide to liquidate their holdings. This could negatively impact the token's price and overall market sentiment.
The token burn mechanism, which aims to reduce the circulating supply by up to 50% every quarter, can also have unintended consequences. While it may help reduce supply and increase demand, it can also lead to significant price volatility and create uncertainty among investors.
Finally, the use of funds raised through the token offering campaign is another risk factor. The allocation of funds to various development initiatives, marketing, and operational costs may not yield the expected returns, which could negatively impact the token's value and the overall success of the Emirex ecosystem.
Overall, investors should carefully assess these financial risks before making a decision to invest in EMRX. It is essential to consult with an independent financial adviser and conduct thorough research to understand the potential risks and rewards associated with this investment.
- Grigory Rybalchenko: Co-founder of Emirex, involved in setting out to improve access to digital assets in the Middle East since early 2017.
- Irina Heaver: Co-founder of Emirex, involved in setting out to improve access to digital assets in the Middle East since early 2017.