FAQ

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FAQ

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What problems Everex solves?
Everex is focusing on solving financial inclusion problem by applying blockchain technology for cross border remittances, online payments and currency exchange. Today over 2.5 billion people in the world have no or limited access to financial services. The average cost to send money to another country is about 8%. There is absolutely no reason why financial companies and banks charge so much money for such simple operation.
Everex can provide access to credit and money transfers for everybody in the world without complexity of the current system.
What is CryptoCash?
CryptoCash is your money in a digital form, secured by blockchain and backed by real cash. You can send it around the world from user to user, app to app within 30 seconds and it's virtually free. Just like traveler checks represent monetary value stored in a simple piece of paper, we offer another store of value, only using crypto technology. Cryptocash exists in forms of different currencies like CryptoUSD (USDEX), CryptoEUR (EUREX), CryptoJPY (JPYEX) and so forth.
What does Everex offer?
Everex is a wallet application that lets you send, receive, hold and exchange any national currency, over blockchain. But this is much more than just remittance. It also can be used for online payments, payroll solutions, p2p lending, and forex trading. No bank or broker is needed as everything is sent P2P over public blockchain, where all transactions and balances are transparent and immutable.
What is your advantage over competition?
The main advantage and difference over competition, that all system transactions are fully transparent and visible on blockchain. Similar to bitcoin blockchain this feature safe guards against any wrong doing from system administrators or participants. Any user at any given time can always watch and monitor all transactions. Second advantage is decentralization. Other payment systems, like Paypal or Alipay, actually keep user funds in their bank accounts. With Everex any financial company can be the underwriter and anybody can be the issuer. Everex, however, will never have access to the reserves that back Cryptocash.
How do I start?
If you are individual user, business, or consumer, you can download Everex wallet application for Android from Google Play store, or use web version for iPhone or computer. If you are a money service business or payment transfer organization, please contact us to learn how to benefit from adding CryptoCash trading to your services.
How Cryptocash is different from existing currency forms?
The main difference of Cryptocash is that it exists on blockchain and allows transfer of monetary and non-monetary values directly between users, without involving a financial counterparty. For the first time we have technology that allows sending money people understand and recognize directly to each other across the borders as easy as passing cash. Using CryproCash brings huge savings in time and costs. It takes about 30 seconds to complete the transaction between wallets and for the individual use it's free for the first 100 transactions per month.
Who are your customers?
We target our solution to a few major groups of customers. There are over 300 million migrant workers sending money home every month. Global remittance market, if you count informal channels, hits over a trillion dollars a year. Businesses that import and export goods and services, is our second customer segment. Online merchants that are classified as high risk by payment processors, such as airlines, travels, gaming and even electronics can also benefit from accepting CryptoCash as the form of payment. CryptoCash settlements are nearly instant and cost a fraction of what payment processors charge today. Factories employing large numbers of migrant workers can use CryptoCash for payroll solutions allowing employees to send money back home directly from Everex wallet, without standing in lines in the banks.
We also focus our services to a money service operators and foreign currency traders as they can benefit from using Cryptocash in their businesses.

Who can issue CryptoCash?
The issuers can be anybody who has enough fiat money and want to use them on blockchain, like bitcoins. However, only licensed financial entities after necessary due diligence and approval processes can underwrite the issuance of cryptocash and be custodians over financial reserves. The process of issuing and underwriting CryptoCash must be fully compliant with laws and regulations of participating jurisdictions. Everex is the technology provider and our job is to make sure that system works and is fully secure.
How do I withdraw or deposit CryptoCash?
You will be able to deposit and redeem CryptoCash via our independent network of exchangers within your country. It can be done with bank to bank transfers, thru ATM network or in cash. The cash-in and wallet to wallet transactions are free in the system. If you want to withdraw, there will be a small commission for cash out. The Everex model is to work together with licensed money service businesses and exchangers to provide seamless cash in and out operations. CryptoCash is fully backed by actual cash reserves, therefore it can be accepted and exchanged anywhere.
How does wallet work and how long the transaction takes and costs?
Everex wallet is a simple enough application that does 4 major functions. You can deposit, send, receive and redeem the CryptoCash both in your local or foreign currencies, depending where you are in the world. Sending CryptoCash peer to peer is free for personal use up to 100 transactions a month. For business users who accept CryptoCash as payments we offer only half percent in fees. Transaction usually takes no more than 30 seconds.
Who are the issuers, underwriters, and custodians of the currency and gold reserve funds which are used to back up your assets?
Everex only partners with high capitalized banks and licensed financial institutions. Banks and financial companies with large amounts of declared capital are eligible to be the underwriters of cryptocash. However, the technological part of issuance is only conducted by Everex. We are ensuring that the amount of issuing units is directly corresponding and equal to the declared financial guarantee from the underwriter. The gold bullion reserves are held by 3rd party vaults such as Brinks and Malco Amit, and are under the custody of 3rd party insurance companies. At no point in time will Everex have access to either currency reserves or gold!
I want to use Everex technology and platform in my country to improve local economies. How do I do that?
Everex offers great partnership terms. No software development is required from your side. We take care of this. Build your business, raise funds, improve people lives and make money doing it.