TenX
TenX is a blockchain project which ambitiously entered the ecosystem in 2016 by announcing a crypto debit card. The card was supposed to store cryptocurrency in native blockchain tokens until the moment a user decides to spend them, liquidating as needed. Fast forward to 2019 - have 3 years of development resulted in a good wallet experience?
TenX is a fully custodial multi-chain wallet, supporting Litecoin, Bitcoin and Ethereum. Fully custodial means the company (TenX) keeps the private keys to your wallet, much like an exchange would, and thus is in full control of your funds at all times. This is an extremely insecure practice - so much so that even they decided to remove themselves from any responsibility should a "hack" or an actual hack occur. As stated in their most recent whitepaper supplemental:
The card is not available in most countries. Its existence in those where it is available is questionable.
The company makes money on the spread of crypto prices. For example, at the moment of writing this, the Ethereum price on CoinMarketCap is $168, while in the TenX app the price is listed as $162. Because there is no way to top-up your cryptocurrencies from within the app, only from the outside, what TenX does when you pay for something in a store with the TenX card is they sell enough ETH to cover the expense and keep the rest (around 3.5% per transaction, like a typical credit card).
Predictably, the card is not available in most countries. Its existence in those where it is available is questionable.
The wallet is rudimentary, more so because it's simply an API client for their servers - TenX is holding all the payment logic on their end, which means your wallet is merely doing API call instructions to that remote wallet on what to do with that money.
Since there is absolutely no cryptography happening in the wallet app, this also means they cannot support ERC20 tokens (not even the most popular ones) unless they manually add them, and they cannot support dapps - so a web3 experience is out of the question.
The TenX wallet is a ticking time bomb, and you would do well to steer clear of it.
In terms of security, the wallet has not been audited and the source code is closed, so the best we can do is trust the team at their word that they won't run off with the money. Given their earlier broken promises, that would be overly optimistic. The wallet also asks you to KYC with them which means that if their servers get breached, not only is your financial information public, but also the address, phone number, and other personally identifiable information. This company is putting their customers in direct risk of getting kidnapped for crypto ransom.
If we take into account the various controversies, the president's connection to a pyramid scheme, the fact that every single deadline promised by the team so far has been missed by a very wide margin, more skepticism, the issue of private keys being owned by a company which declared that they are not responsible if anything happens to said keys, the TenX wallet is a ticking time bomb, and you would do well to steer clear of it.