On the 2nd of November Swipe (SXP) was listed for trading in the Emirex exchange. Swipe is a debit card and wallet platform that enables cryptocurrencies to be spent as fiat currencies in real-time. It allows both in-chain and off-chain transactions. Current available trading pair on the Emirex exchange: SXP/BTC, SXP/USDT.
Swipe features a utility token, SXP, that can be used for paying for transaction fees, as a medium of exchange, and to receive discounts on the fees.
Swipe includes cross-chain support for two of the most used blockchains in the world: Ethereum & Binance Chain.
Swipe is a cryptocurrency system that includes a decentralized wallet with the ability to buy and sell coins, a visa debit card, and a functional SXP token designed for staking, reducing fees, and more. The app is available for IOS and Android.
The platform allows users to make transactions both inside the network and outside it. Cryptocurrencies that are served offline can be immediately converted to fiat currencies (EUR, USD). When Swipe Network is activated on the platform, users automatically receive a wallet smart contract, in which the SXP token is used during the operation. Since the wallet runs on the Swipe Network, 80% of the transaction fees charged by SXP are burned. The deflationary business model works so that there are fewer and fewer SXP tokens in circulation, and their price rises regularly.
The payment card platform allows users to optionally pay with cryptocurrencies in fiat currencies. The exchange takes only a few seconds. The goal of the platform is to popularize cryptocurrencies and their introduction to everyday financial activities. According to the founders, this will be possible by connecting existing payment networks to cryptocurrencies.
Swipe allows users to deposit cryptocurrencies into Swipe wallets, allowing those funds to be spent immediately in fiduciary currencies. They can be spent using traditional Visa debit cards.
The Swipe (SXP) Token is the native cryptocurrency that powers the Swipe ecosystem of products and governs the decentralized protocols. SXP serves as the primary means of payment, a payment protocol currently acting as a debit card platform and a digital asset wallet.
- Fees & Discounts
Users may use SXP towards transaction fees on the Swipe ecosystem of products such as the Swipe Wallet and Swipe Card. SXP can also be used for discounts on fees.
- Governance & Staking
SXP token holders have the ability to create proposals and vote for protocol changes on the Swipe Network. SXP can be bonded within the network to secure the protocol and receive staking rewards.
- Transactions & Payments
Swipe users can utilize SXP to pay at over 60 million merchants worldwide and transfer within the Ethereum & Binance blockchains.
- Q2 2020: Expand service coverage throughout the Asia-Pacific region and Southeast Asia.
- Q3 2020: Launch interest-bearing accounts, credit, and lending products within the wallet.
- Q4 2020: Expand service coverage in North America.
- Q1 2021: Add support for more payment channels to expand service coverage in Latin America and Africa.
Swipe has a promising future as it successfully delivers functioning products to its consumer base and has notable partnerships. The token is distinguished by technologically advanced solutions and a platform that has gained the recognition of crypto traders. Swipe supports the adoption of cryptocurrencies on a large scale. And the greater popularity of the application may translate into an increasingly higher price of the token.