How do Pundi X (PUNDIX) crypto and its retail business work?

A few cryptos were swimming against the tide on Tuesday amid the continuing decline in the global crypto market, which fell 1.89% to US$944.68 billion, dragged down by losses in Bitcoin (BTC) and other major cryptocurrencies. 

Bitcoin (BTC) fell 1.93% to US$21,019.91, and Ethereum was trading at US$1,219.98, down 1.04%. However, the altcoin Pundi X (PUNDIX) jumped 3.22% to US$0.4482 at 6:45 am ET.

The token gained traction after opening its 11th crypto store at a Turkey shopping mall. 

The company plans to host an AMA session with Ramp Network on June 29. Ramp is a payment infrastructure platform for crypto assets. It also shares insights into Pundi X and the Ramp ecosystem.

What Is Pundi X (PUNDIX)?

Pundi X develops blockchain-enabled Point-of-Sale devices to transform retail business. These devices allow buying and selling and crypto payments for various store purchases.  Its PoS solutions enable consumers and merchants to execute blockchain transactions instantly.  

Pundi X was founded in 2017 as the world’s first PoS solution.

It brought its initial coin offering (ICO) in 2018. After the successful ICO, it launched other services such as XPOS, XWallet, XPASS and BOB/XPhone. 

XPOS is the blockchain-powered wireless PoS for cryptocurrencies. The product is designed so to accept all cryptocurrencies. XWallet is a mobile app to manage digital assets, including transfers, check balances and top-ups.

XPASS is a card issued to every XWallet registered user, while Blok-on-Blok (BOB or XPhone) is the world’s first blockchain phone built on Android 9.0, enabling decentralized internet. 

In 2019, it launched an ‘Open Platform’ to cater to more blockchains and DeFi developers.

The Singapore-headquartered company has offices in London, Jakarta, Sao Paulo, Tokyo, Seoul, and Taipei. According to its website, it had more than 100 employees as of January 2022.

Zac Cheah and Pitt Huang founded the Pundi X project after they struck with the idea in 2012 during a meeting of the HTML5 Interest Group. Currently, Cheah is the CEO, and Huang serves as the CTO and COO of Pundi X.

PUNDIX token:

The PUNDIX token has a market capitalization of US$115.8 million. 

Its volume catapulted to US$55.4 million, up 358.12% over the last 24 hours. The token has a circulating supply of 258.5 PUNDIX, the same as the total supply. FTX, Binance, KuCoin, DigiFinex and Upbit are some crypto exchanges that offer the PUNDIX token for trading. 

Bottom line:

Pundi X solutions are used in over 25 countries, including the US, Australia, Spain, Taiwan, Argentina, and Korea. The token fell nearly 57% YTD.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

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Spooked By Crypto? Here’s How You Can Spot Fake Crypto Exchanges

The rising popularity of crypto has led to a rise in the number of crypto investors as well as genuine and fake crypto exchanges. 

A cryptocurrency exchange is a marketplace, where cryptocurrencies can be bought and sold. Crypto exchanges provide storage for crypto as well as trading services and price discovery through trading activity.

Incidentally, cyber security company CloudSEK, has revealed in a recent study how Indian investors have been duped of more than Rs 1,000 crore by a fake crypto exchange scam.  This is not the only case though, as according to data shared by Chainalysis, a Singapore-based Blockchain data platform, crypto scammers stole a record $14 billion in 2021.

Amid all this, crypto industry experts have now suggested ways by which investors can spot such fake exchanges. 

How To Spot Such Exchange and Stay Safe? 

According to crypto industry experts, one of the easiest of ways to identify and perform basic due diligence is to check for the details of the registered company, including its founders’ information, media coverage, and customer reviews.

Checking for the data of the registered crypto exchange is the simplest approach to discover and undertake basic due diligence.

“Companies that are registered outside of India shouldn’t be trusted with digital assets because it is hard to do due diligence, and there is no legal recourse when fraud is found,” says Mark Tighe, founder of Catax, a crypto taxation, auditing, and forensics start-up. 

Tighe said that Bitex and Franc Exchange, which are copies of known exchanges like BitMEX and Binance have emerged to dupe customer on the pretext of crypto services. 

Crypto industry experts have also said that if any crypto platform is giving very high yields, that’s the first red flag. 

“Dubious and non-descript crypto platforms offer “too-good-to-be-true” returns on digital assets. If you spot a platform offering very high yields, that’s the first red flag. Given the uncertainty and turmoil in crypto markets, generating high yields on crypto is not feasible,” says Sharat Chandra, vice president, research and analysis, EarthID, a Blockchain-based company. 

Mantras to Stay Cautious from Fake Crypto Exchange 

Experts have also suggested ways and means to stay cautious from fake crypto exchanges.

“If an exchange promises a rate of return on an investment that seems way too good to be true, it most likely is not true. Any offers of guaranteed returns should be considered as suspicious as well. Given that the cryptocurrency market is very volatile, you will never know how much you will gain or lose. I would say potential investors should use only trusted exchanges if they wish to invest in cryptocurrencies,” says Dr. Oriol Caudevilla, board director at the Global Impact FinTech Forum (GIFT) and FinTech Advisor. 

Sandeep Shukla, a professor of Computer Science and Engineering at IIT-Kanpur, and co-director of the National Blockchain Project, advises that investors should never choose an exchange based on social media ads or direct messages.

“Always do research and most of the time you will find a real exchange that they are faking,” he says.

“Also the behaviour of the crypto exchange, in terms of how they advertise, how they lure customers, the nature of ad they put on social media or via email are important and to be notified,” he adds. 

Fake Crypto Exchange 

Over 900 investors were reportedly defrauded out of Rs 1,200 crore in March 2022 by a website advertising a bogus cryptocurrency named Morris Coin.

In March 2022, over 900 investors were allegedly duped of Rs 1,200 crore by a website offering a fake cryptocurrency called Morris Coin. This coin was listed as Franc crypto exchange, a fake crypto exchange by some industry experts. 

Morris Coin was launched by K Nishad, a resident of Malapuram, Kerala in 2020 through the initial coin offering (ICO) of ‘Morris Coin’ a new cryptocurrency token as the main promoter of the cryptocurrency.

According to reports, 900 people contributed to the ICO. Investors were required to hold the tokens in cryptocurrency wallets provided by the promoters for 300 days after purchasing 10 Morris Coins for Rs 15,000. At that point, the token was expected to be listed on the Franc exchange, a Coimbatore-based cryptocurrency exchange. The tokens’ proponents guaranteed that their value would increase many times after being listed, but all these turned into a big scam. 

Nishad was later booked and arrested by Enforcement Directorate for the Morris Coin scam.

Delhi Police DCP (Cyber Cell) KPS Malhotra told Outlook Money that there are several platforms that pretend to be crypto exchanges and circulate links on WhatsApp/Telegram groups through which some investors do trading, which opens the gateway to fraud.

According to him, investors should make payments through the main exchange websites only, rather than through links. 

Chandra adds: “These platforms do not have any due diligence or framework for listing tokens, and often come with an anti-dumping clause for tokens. Investors should examine the credentials of the project owners, the developer team and the community before investing in any crypto-token.” 

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VAYK To Present Cuba Vacation Rental Cryptocurrency Backed

Dallas, Texas, May 10, 2022 (GLOBE NEWSWIRE) — Vaycaychella, Inc. (OTC Pink: VAYK) (“VAYK”) today announced the company plans to host a live, interactive presentation to provide details on its previously announced cryptocurrency backed expansion strategy to grow its portfolio of short-term vacation rental properties in Cuba. 

The company originally planned to host a small group of select investors on the ground in Cuba.  Unfortunately, last week Cuba suffered a serious explosion of a historic hotel in Country’s Capitol. The Hotel Saratoga, in Havana exploded as a result of what appears to be a gas leak

“The loss of a Cuban monument across the street from Cuba’s Capitol Building is very sad and the resulting loss of life makes it tragic,” said Bill Justice, CEO of Vaycaychella. “I have stayed in the Saratoga.  I remember wondering if I was in the room where Mick Jagger slept when the Rolling Stones played in Havana.  VAYK is a tourism focused business, and the tourism industry of Cuba’s command economy needs time to address the aftermath of the Saratoga.  This is not the month for VAYK to arrive with new proposals.  I expect Cuba will welcome our tourism expansion plans more than ever, but two weeks after the Saratoga tragedy is too soon.  Alternatively, we will host our cryptocurrency backed expansion plans to a wider audience in an effort to accelerate our expansion plans. Look for details coming soon on our online cryptocurrency backed expansion strategy to grow its portfolio of short-term vacation rental properties in Cuba.” 

VAYK is a technology company that last year introduced an award-winning Peer-2-Peer Alternative Finance Application (APP) for sourcing financing to purchase income producing vacation properties.  In the face of rising interest rates, VAYK management anticipates userbase growth as conventional real estate finance gets more expensive. 

Adding to the existing functionality democratizing access to financing for the purchase of short-term rental vacation properties, the next version of VAYK’s Peer-2-Peer Alternative Finance APP, launching soon, will introduce fractionalized investment where multiple investors will be able to back a single short-term vacation rental project. 

The next version is a first step towards adding the ability to invest in short-term vacation rental projects through the purchase of cryptocurrency. 

VAYK has recently purchased a cryptocurrency exchange and work is underway to promptly launch the exchange. 

VAYK originally planned to host an event in Cuba later this month to baby step its way through the first cryptocurrency offering.  We thank everybody that expressed interest and we will continue to follow up with all of you to schedule a future trip. 

VAYK is organizing an initiative to raise funds through the issuance of an initial cryptocurrency to fund additional properties in the same vicinity as the existing short-term vacation rental properties in VAYK’s pilot project are located. 

VAYK launched a pilot short-term vacation rental business in Cuba just outside of Havana in 2018.  VAYK backed the renovation of ten Art Deco style beach properties originally built in the 1930s and 1940s now operated as vacation destinations available through Airbnb and VRBO.  Since that time, the company has added a small boutique hotel in Havana. 

The Cuba pilot served as a model for the company’s design and launch of its award-winning Peer-2-Peer Alternative Finance Application (APP) for sourcing financing to purchase income producing vacation properties.

To learn more and keep up with the latest updates at Vaycaychella, and to access the Vaycaychella App, visit

Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.

VAYK Contact:
William “Bill” Justice
(800) 871-0376

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