When you’re making a regular money transfer, what do you normally wish for? Well, it’s not rocket science as we all want the same things: low (or, even better, zero) costs and fast speeds. Since blockchain technology illuminated the path, a lot of inspired entrepreneurs and developers have followed suit, and Atom Solutions is one of them.
About Atom Solutions
Atom Solutions was established in 2010 in Japan as a fintech project. Later on in 2015, inspired by the possibilities the blockchain technology has to offer, they started issuing their own cryptocurrencies “Eternal Token and Eternal Coin”. Since then, the company has been on a mission to improve the efficiency of financial services worldwide. Their main goal is to reduce costs and build an advanced transaction system. Atom Solutions aims to become a solid leader of the virtual currency exchange space and blockchain industry.
How XET and XEC Work
As we’ve mentioned earlier, the company issues two cryptocurrencies Eternal Token (XET) and Eternal Coin (XEC).
You can use your XEC in the company owned wallet (Eternal wallet) to exchange Fiat currencies cheap and fast. Currently, payments are possible between Korea, Hong Kong, and the Philippines, but the company has big plans for the future. They aim to expand to different countries that can send money to Asia, Africa, and throughout the world.
- An approximate 5 Japanese yen will be charged when making overseas payment using Eternal Wallet or buying and selling Eternal Coin.
- 50% of the fee accrued in Eternal wallet is distributed once a week to all Eternal Coin owners (the percentage is based on how many units of XEC the user is holding).
- You can make money transfers using a user’s phone number.
Eternal coins can be purchased on authorized exchanges, considering you’re a resident of the country in which the exchange is registered which clearly is not always the case.
The other way to get some XEC is to exchange XET to XEC.
How to make an XET wallet in Lumi Wallet
XET is Atom Solution’s ERC20 token with 200 million issued already. So if you’re not a resident and have no access to the authorized XEC exchanges, you won’t be left out. Just purchase XET on your regular crypto exchange (like IDAX, InstantBitex, or OEX) instead.
XET cannot be stored in Eternal Wallet, it requires an external wallet such as Lumi Wallet.
Once you’ve purchased XET, make sure to transfer it to a safe place. Lumi Wallet is a client-side multi-currency crypto wallet, so you’ll sleep safe knowing that nobody else except you has access to your private keys and digital assets.
Download Lumi, set a pin, and go to the ‘Wallets’ section, then tap on the ‘Manage wallets’ button. Type in XET, tick it, and tap ‘Ok’. And that’s basically it: now you have your very own XET address you can use to transfer the funds to or from the exchange.
Go to your XET wallet and tap on the ‘Receive coins’ button. There, you can copy your address and use it to transfer your tokens from the exchange or receive a payment from a friend.
Apart from managing your XET, you can use Lumi Wallet to store, buy, and sell coins like BTC, ETH, EOS, BCH, and the majority of ERC20 tokens. Easy and pleasant interface, price graphs and the entire transaction history are included.