Elon Musk Has Confirmed When IX Money Will Be Available, But Do You Know What To Expect?
The richest man in the world, Elon Muskconfirmed when public access to X Money will be available. This has raised speculation about what to expect from this feature, especially regarding possible crypto integration.
Elon Musk Reveals When Public Access To Coin X To Be Released Next Month
In an X postElon Musk revealed that early public access to X Money will be launched next month. This marks a major step forward as the world’s richest man moves to transform social media into a ‘All App.’ Crypto traders are currently predicting that the launch of X Money will not happen until the end of April.
In Polymarket, there is currently only a 15% chance that X Money will launch on April 10. Meanwhile, there is a 73% chance that it will launch on April 30. As for what to expect, the market analyst. Mario Nawfal said that the movement is growing Elon Musk’s IX on paymentsbanking, and crypto, with the goal of having everything in the ‘Everything App.’
He also noted that early access will allow users to test peer-to-peer (P2P) transfers, merchant payments, high-yield accounts, and crypto integration. The full release is expected later this year. Crypto pundit Satoshi Club commented that part of X Money’s payment features will include a debit card, physical and virtual.
In addition, users will enjoy high yields on their balances, with early testers reportedly earning up to 6% APY on cash. There will also be 3% cash back on purchases while deposits are FDIC insured through Cross River Bank. Users will be able to do it quickly P2P payments using Visa Direct.
Satoshi Club added that the most interesting feature is the Smart Cashtag. Users will be able to click Bitcoin, Ethereum, XRP, Dogecoin, and other cashtags directly on posts and buy or sell assets without leaving the social media platform.
The Dogecoin Angle
I Dogecoin price jumped nearly 7% amid Elon Musk’s announcement that X Money’s early public access will launch next month. The Crypto Pundit Wise commented that DOGE was the first crypto to react to the news about X Money, noting that this has happened many times before. The pundit added that Musk made the announcement, and DOGE pumped first, making the market think about a merger.
In line with this, Wise asked if X Money will end up providing real DOGE support to X or if this is just another hype-driven trade. Elon Musk has not yet confirmed the level of crypto integration on the platform or whether it will allow it payments in Dogecoin and other crypto assets.
Dogecoin payouts are always possible, especially considering the relationship of the world’s richest man with the leading meme coin. He also praised Bitcoin last year as being resistant to inflation, especially given that it cannot be printed out of thin air like fiat.
Featured image from Unsplash, chart from Tradingview.com
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