Frequently Asked Questions

Questions about Zeex

What is the problem and opportunity that Zeex addresses?
The problem Zeex addresses is the same problem everyone in cryptocurrency is dealing with right now: actually spending crypto. Almost no retailers accept cryptocurrency and the ones that do charge significant fees for the service; however, cryptocurrency ownership is definitely on the rise, so there is a very large opportunity for a solution connecting cryptocurrency directly to products. We tackle this issue by enabling users to seamlessly exchange cryptocurrency and corporate currency so that they can quickly and easily spend their money anywhere- with no fiat, and no fees!
How does Zeex prevent double spending or other manipulations by malicious users?
ZIX tokens act as collateral during a transaction in order to ensure there is no incentive for unscrupulous behavior.
What currencies does Zeex accept?
We accept Ethereum, Bitcoin, ZIX, Bitcoin Cash and more than 350 corporate currencies.
When does the platform launch?
We plan to launch the full platform in June. Does Zeex have a plan to prevent pump & dump and price manipulation after the token sale? A. Not really, we as a company cannot discuss price or trading as it is a utility token, not a security token, but in general due to the decentralized nature of the application it is impossible for the company to prevent users from performing actions. The company will hold 10% of tokens in escrow and the core team members will be restricted from flooding the market with their tokens as well.
How does Zeex differ from eGifter or Purse.io?
These websites accept one cryptocurrency (Bitcoin) through a payment provider that charges significant additional fees AND converts immediately to fiat currency. We have entirely eliminated transactional friction with our smart contracts and because we convert directly from crypto to corporate currency we don't have any fees or lag time.

Questions about the Token Sale

Is there a pre-sale and how can I participate?
There is in fact a pre-sale and you're welcome to contact us directly regarding that. Yaniv is our head of business development and his email is Yaniv.Barak@zeex.me.
When does the public sale begin and end?
The public sale is scheduled to begin in May and end in June.
When do I receive my tokens?
A few weeks after the token sale in the worst case, but most should receive their tokens very quickly.
How many tokens will be issued in the public sale and presale?
50% of tokens will be sold in the pre-sale and 40% will be sold in the public sale. 10% of the tokens will remain in escrow with Zeex.

Questions about ZIX

What kind of cryptocurrency is ZIX?
Zix is an ERC20 token which means that we have built it using smart contracts on the Ethereum network (the leading cryptocurrency development platform today.
Why does Zeex have its own token? Why not just use Ether or Bitcoin?
Using our own token gives us major advantages, specifically the mechanics of the platform itself, as with ZIX we can eliminate transactional friction (fees) entirely. If we used Ether or Bitcoin, we would just be another website that accepts payment in cryptocurrency. With our own token on the Ethereum blockchain, we become a proper P2P exchange with no middleman and instant validation.
Is ZIX a mineable token?
No. ZIX is on the Ethereum blockchain so no need to mine it.
Why did Zeex choose to use the Ethereum network rather than another network like QTUM?
The Ethereum network is the most trusted and established network available today and also has a great deal of flexibility, so it was our decision to work on that blockchain.
What wallets are compatible with ZIX?
As ZIX is an ERC20 token, you'll use an Ethereum address to store it. MyEtherWallet is a great solution for this and will allow you to store any ERC20 token on a hardware wallet like Ledger or Trezor. Find out more at https://www.myetherwallet.com/.
Is our code open source?
YES

General Questions

How is my data protected and how can I protect myself from malicious users?
We use the highest grade encryption available to protect all of our user data and all of our whitelisting will be done by trusted third parties to ensure the security of your private information. On your end, make sure that you use unique passwords for each account you have and keep these passwords safe. Never give your private data to anyone, Zeex will never request your password or anything of that nature, so if you see something like that it's almost certainly spam.
What is KYC/AML and why do you need this information?
KYC/AML or know your customer/anti money laundering is a universal standard required in order to verify that we know our customers and there is no money laundering occurring. No one wants to be associated with any kind of illegal activity or fraud, and so we need to make sure anyone investing with us is using their own, legally obtained funds. In general, we need a photo ID issued by a government, proof of address or residence, and sometimes other documentation depending on the situation. If you have any questions, our support is happy to help! Contact us at Support@zeex.me
What is a blockchain?
Blockchain is actually a pretty simple concept. Imagine a simple ledger with credits and debits. Eventually as transactions pile up, you will finish the book and need a new one. But you can't throw away the old ledger, it's important financial records! So what do we do? We take a new book and staple it to the old one and start again! In this analogy, the books are blocks and when they are stapled together they become a blockchain, a chain of blocks. This way all of the transactions ever recorded are stored together permanently, and the ledger is what is called append-only. This means that nothing can be erased or altered from the records, we can only record new transactions, and all of the records are completely public. The blockchain does not store names but it does store addresses, and while those appear as random strings of letters and numbers, experts can often tie addresses to real world bank accounts and individuals, so anonymity is not always guaranteed by a blockchain.
How does the Zeex blockchain work?
The Zeex Protocol operates on the Ethereum blockchain and piggybacks on it to execute transactions.
If there's no mining, how is verification done?
The Zeex Protocol uses smart contracts, so there is no mining necessary. See, a smart contract must either complete the entire contract, meaning that funds/corporate currency codes were exchanged instantly person to person and then the contract is complete, or it doesn't complete and the funds return to their points of origin. Because of this structure there is no need for further validation.
Please give me a basic walkthrough of how the Zeex Protocol works, pretend I'm not a blockchain expert.
The first thing you do as a user is open the app, select which corporate currency you want to buy and then pay instantly with ZIX or another cryptocurrency. Behind the scenes, the ZIX tokens are held in escrow (briefly) in order to confer benefits like priority and discounts, and the transactions occur within our smart contracts. Once the transaction happens (you won't even notice a lag time in the app!) you'll just see confirmed and then get the code for your corporate currency immediately, which you can spend right away on whatever you want. You can even do this inside the store! Say you're in Sainsbury's buying groceries and want to pay with Ether. While you're in line waiting for all the ordinary folks to pay with fiat currency, hop on the app and in 3 taps the cashier can scan your phone and you're out the door.