Paypex is a platform that is aiming to enhance the payment system based on the Ethereum blockchain and smart contracts. They plan to accomplish this by increasing the efficiency, decreasing the cost of money transfers and be able to send or receive cross-border payments within a snap of two fingers.
This allows Paypex to form the backbone of a range of payment gateways for individual and business. However, all this seems to good to be true and with the white paper which is only four pages, I believe this coin is very suspicious as you will see explained in the following main points below.
● Improving Blockchain
● Stole Paypal Logo
● No Open-Source code
● No Team Members on Website
Stated on the website the token claims to be faster than Ethereum yet it is based on the Ethereum Blockchain which means the same transaction fees and transaction speeds. So this pretty much renders their mission statement of “increasing the efficiency, decreasing the cost of money transfers and be able to send оr receive cross-border payments within a snap of two fingers” useless. They explain this in a video but what else makes this sketchy is the video in an automated voice which could mean the team behind this coin are trying to hide their personal identity.
They have a similar logo to the PayPal logo both have the infamous “P” in common and also to have similar names such as ‘Pay-Pal” and “Pay-Pex” what I assume they are trying to do here is to look like a version of PayPal but in crypto to make new traders/buyers think it is the same.
Open source software is collaboratively produced, shared freely, published transparently, and developed to be a community good rather than the property or business of a single company or person. Paypex has no open source code this is really shady, as well with four fake links to in the press section which falsely shows they are being “Supported” by major press establishments when in theory they aren’t.
Paypex has no Team Members in any category shown anywhere on their site this proves even more suspicious to the coin being a scheme of some caliber, as they are trying to hide their identities by staying “off the grid”.
-Not listed.
In conclusion, Paypex seems very shady with multiple suspicious flaws around the Token, it may be rising up but this is clearly a Ponzi scheme so stay away or risk falling for it.
