We have written lots of articles about VPN providers throughout the years. But, now is the time to present a cryptocurrency and a platform that might challenge the VPN providers as we known them today. Time to say hello to IPSX!
IPSX the name of the cryptocurrency which you will use on the IPSX platform later. IPSX is the idea of an IP exchange, but not like a traditional VPN provider handing out IP addresses to their subscribers. The IP Exchange will be a decentralized exchange, in which you can both provide IP addresses and request IP addresses.
We love writing about cryptocurrency related topics, but once we discovered a cryptocurrency that actually stepped into the VPN world, we just had to dig deeper. After looking around, asking questions and reading a lot, we will try to present to you IPSX in this article, based on what we have discovered and learned.
Who needs the IPSX platform?
IPSX is a utility token. A utility token is a token that is used to pay for a certain service on a platform, and it is connected to a real-life service. But, who will pay to use the platform? Lots of people! The VPN business is booming in the world today. Why?
- Every day we read news about nations restricting the Internet, blocking sites, and filtering the content available online. What is the solution? A VPN!
- As you travel the world you will often use free and open WiFi networks as you travel. This is dangerous, as sniffers steal your data and passwords as you do so. What is the solution? A VPN!
- You live in Scotland, but really want to watch the most recent episode of The Handmaid’s Tale on Hulu in the USA. It can’t be done, as Hulu is only available to people in the USA. What is the solution? A VPN!
There are other usage areas of VPN’s as well, but these might be the most well-known areas. The IPSX platform will become a competitor to the current VPN providers, but they offer much more than a normal VPN provider.
What can I do on the IPSX platform?
Every young person’s dream is to earn money with their computer. With the IPSX platform that can be done easily! There are two kinds of people existing in the IPSX universe: Providers and Requesters. A provider is someone who decides to share their own IP address(es), and for this, he will receive payment in IPSX tokens. In other words, anyone with an Internet connection can make a passive income by becoming an IP address provider.
On the other side, you have the requester. Those are the people who want to get hold of an IP address somewhere else. They might need it to bypass a geographical block, or they might do it to secure their Internet connection. While VPN providers only let you sign up for 1 month (minimum), the IPSX platform will let you borrow an IP address elsewhere for a much shorter amount of time. This will let people save money, and buy exactly what they are looking for. Since it is a decentralized platform, payment will happen directly between provider and requester, using a built-in payment system.
Can a requester pay without owning IPSX tokens?
One of my main concerns as I read about the project, was whether a requester can pay for an IP address without owning any IPSX tokens. Just imagine your grandmother sitting in her beach house in Spain, wanting to watch BBC online, but now she gets an error message saying it is impossible because she is abroad. She contacts you, and you tell her about IPSX. But, before that, she needs to register on a cryptocurrency exchange, then deposit money from her bank account, waits for the money to arrive, then she needs to buy Ethereum/Bitcoin, and then she can buy IPSX tokens. With those tokens, she can start using IPSX… No, it would be too stupid! And, the people at IPSX also knows that. Asking the question, I got the following explanation of how this will work.
“There will be a system of matching the market price of IPSX tokens and we intend to allow everybody to purchase tokens using traditional payment methods like Visa and PayPal. Simply said a new user will enter our platform and he will be able to purchase tokens and in the back we will buy them from the market. At the market price of the moment of submitting the buy order.”
So, it looks as if IPSX has a plan for how to make it easy for anyone to use the platform and the services provided on the decentralized IP exchange.
What about security? Will IPSX protect the providers and the requesters?
My second great concern with a platform like this is the safety of the providers and the requesters. I haven’t received 100% clear answers to my questions, but I deeply sense the intention of the IPSX crew to come up with solid solutions to these questions.. What’s the problem? If I become a provider, letting other people use my IP address, what will happen if someone uses my IP address to do criminal stuff online. Will the cops come and put me in jail?
The simple answer to the question is no. Information about the requester will be stored on the blockchain, and thus that information can be used to see who has actually done the crime (which is someone else).
But, then comes the next problem. If the IP address of the requester is stored on the blockchain, then my activity is no longer hidden, and I cannot stay safe. Who decides who gets to see what information? People use VPN to remain anonymous online, but if they do not remain anonymous, what’s the point? There will be different levels of privacy on the IPSX platform, but they are still working on solving these issues. More technical papers and information will be given on this subject later.
Beta testing, staking, and partners!
It is possible to beta-test the IPSX platform. If you want to sign up for beta-testing, go here. As a beta-tester, you can get a feeling of what the platform is like, and you can request tokens to pay for proxy solutions and give them a try. I have done some beta-testing myself and using a proxy in France I could, for example, watch French Netflix (outside France). It will be much easier and nicer as the full application will be launched (and they are progressing nicely with those according to the weekly updates), but for now, the beta-platform serves the purpose of testing.
If you own a good portion of IPSX tokens, you can also decide to stake them. You will then receive a reward for keeping your IPSX tokens in peace. If you are a hodler, then this is a beautiful chance to get an interest on your investment, without doing anything. To stake, you need to register between June 1st and June 10th, and you need to have a minimum of 200,000 tokens on an Ethereum mainnet address.
It should also be mentioned that George Bunea, the CEO of IPSX, has met several important persons in the blockchain community lately, for example, James Ahn (EdenChain) CEO and Amrit Kumar (head of research for Zilliqa). George later explained on Telegram that they plan on advancing with Ethereum, but they stay up to date on what’s going on with the other blockchains, and especially related to scalability. Other platforms such as Zilliqa, Cosmos, Edenchain, Quarkchain, and others can turn interesting in the future if they prove to be better for the ISPX product.
Where can I buy the IPSX token?
At the moment, you can buy IPSX on Qryptos, IDex and on Bibox. The largest volume is on Bibox (IPSX/ETH pairing), and that is where I do my IPSX trading, simply because it is by far the best of the three mentioned exchanges. If you do not have a Bibox account yet, visit the Bibox website and sign up. If you want to know more about Bibox and why I like it, check out my Bibox review in this article.
At the time of writing the price of one IPSX token is $0.007427. The price of the token during the ICO was $0.0122, meaning that you can now buy the token for under ICO price.
Will IPSX make me rich? When will IPSX moon?
IPSX is coming with weekly updates on their progress, and they are open about what’s going on. They are developing applications for all the different platforms and based on their reports, they are on track with all of these. They are planning on launching their working platform in Q3 in 2018, meaning sometime between July and September. By then the product should be finished and IPSX will be out there competing with big VPN providers like PureVPN, HideMyAss, ExpressVPN, IPVanish, PiA and the others.
IPSX is a token with a real-life product. The upcoming product launch will for sure bring excitement and expectations to the community. In a time when VPN providers are blocked big-time by TV stations and streaming services like Hulu, IPSX using all sorts of IP addresses all across the world, will have a much larger potential of working. If they do, the word of IPSX will be on the mouth of bloggers in a matter of days.
Since everyone love “free money”, lots of people will become providers, and there is no doubt that there will be thousands of requesters as well. I have big faith in this platform as it covers a real-life demand.
But, when will IPSX moon?
- As people open their eyes to this product they will want to invest. This will increase the price of the token.
- As people start using the platform, they will buy tokens to use it. This will create a constant demand for tokens, which will make the price go up.
- As the cryptomarket in itself starts to recover from five months of bear-market, all values will increase, including the Dollar price of the IPSX token.
The question is simply… do you believe this platform has a future? Do you believe that it will exist and blossom in the coming years? If your answer is yes, now is the time to invest!
Will IPSX become a competitor to the traditional VPN services?
Most VPN providers user lots of money on marketing. They also have big affiliate programs to receive recommendations all across the Internet. Few bloggers are willing to sacrifice income, in order to recommend a service with which they will not make an income. But, if IPSX gets going and they will launch with a solid product that will impress the world, and they will have good solutions to protect the provider, and at the same time take care of the privacy of the requester, then IPSX will become a serious competitor to the traditional VPN services!
Want to know even more? Look at the IPSX introduction video on YouTube right here.