Price for today
0,35 USD 1,24%
0,00000557 BTC 1,24%
Name: Swipe
Symbol: SXP
Circulating supply: 0 $
Max supply: 0 $
Price: 0,35 $
Volume 24h: 1.024 M $
Market Cap: 220.419 M $
Percent change 24h: 1,2 %
Swipe is a cryptocurrency system which includes a decentralized wallet with the ability to buy and sell coins, a VISA debit card, and a functional token Swipe Token (SXP), designed for staking, reducing commissions and other areas. The application is available for iOS and Android. The platform continues to actively develop. Recently, almost all commissions for buying and selling cryptocurrency, for using cards were removed, a test mode of the Swipe Network was launched, and cooperation with WBTC was established. Also, delivery of cards has become free. Swipe Card is a debit card that enables users to spend crypto assets on purchases from more than 50 million merchants around the world.
With the popularity of cryptocurrencies increasing by the minute, people are looking for convenient ways to spend and use them. This has contributed to the widespread adoption of crypto debit cards that are proposed by major exchanges such as Coinbase, Binance, and Crypto.com.
However, there’s one project that stands out from the crowd — Swipe. Below, we delve into detail on how this groundbreaking technology works and why it might become the backbone of all future crypto card payments.
Swipe is a platform that acts as a cryptocurrency-to-fiat gateway. Clients can use their Swipe card to spend their cryptocurrencies, as the blockchain converts them into fiat in real-time.
Since Binance acquired Swipe in July 2020, the platform has operated as a business-to-business protocol provider, covering all of the regulatory and legal needs for companies to be able to use their service. They include:
Anyone using Swipe services will have to pay fees on the network. Businesses need to pay an upfront cost of 25,000 SXP tokens to be able to order branded debit cards. On the other hand, the end customers will be charged withdrawal and transaction fees whenever they use their card.
The SXP coin has multiple uses:
On the SXP chart, we can see the live SXP price in the daily timeframe. Since the beginning of 2021, the coin has registered some erratic price action. There were no less than four price rallies that were followed by sharp price declines.
However, each time, the SXP showed some resilience and recovered in the following weeks. And every time, the price during each dip was higher than the previous one, showing a healthy uptrend, albeit peppered with high volatility.
At the end of May 2021, there was another sharp price drop, with SXP landing at around $2. To date (June 17), the SXP rate has yet to return to its previous high of $5.86, lingering around $2.
Because of its high volatility and numerous use cases, Swipe is quite a popular token in the crypto trading community. As such, users can purchase it on a large list of cryptocurrency exchanges. The most popular trading pairs for Swipe are:
With that said, exchanging it through Godex is a much better option than anything else present on the market. There are multiple reasons for this:
So, let’s have a look at how this works in practice:
Step 1 - Select SXP crypto from the drop-down menu and type in the amount you wish to exchange.
Step 2 - Select the coin that you wish to receive in exchange. Godex will automatically calculate how many of this token you will get upon exchanging your Swipe coins.
Step 3 - Enter your cryptocurrency wallet address where you wish your coins to be sent. Ensure the address is correct by double-checking each number and letter.
Step 4 - Initiate the exchange and complete the transfer of Swipe tokens.
Depending on the saturation of the blockchains, you should receive your coins within 5-30 minutes.
All the SXP crypto have already been created prior to the release of the Swipe blockchain protocol. Consequently, you will be unable to mine SXP or acquire them in any manner other than purchasing them on an exchange such as Godex.io.
Recently, the operation of the Swipe network has been transformed considerably. Most of the features of the Swipe project such as the direct-to-consumer debit cards, wallet app, and the Swipe credit line are gone.
Instead, Swipe now offers a B2B model for creating a debit card payment network for anyone that wants their customers to use the Swipe network to pay with crypto and convert to cash seamlessly.
Additionally, the network has conserved one of the main features of the network: Swipe Swap.
Swipe Swap works as an automated market maker (AMM), and runs on both the Ethereum and the Binance Smart Chain protocols. As a result, users can use either blockchain for trading and coin swapping just by toggling their preferred blockchain in the Swipe user interface.
Because it needs liquidity to be able to function, users can become liquidity providers for Swipe. Users that lock their coins through smart contracts and earn 0.3% of the fees of every swap, proportional to their share in the liquidity pool.
Furthermore, the Swipe crypto can be staked to gain voter’s rights and decide upon the future of the Swipe protocol and the trading pairs that can be added to it.
More than just a crypto debit company, Swipe is a for-profit organization that sells its services to other businesses. Banks, payment processors and providers, and other financial institutions can use Swipe to issue their branded crypto debit cards.
Swipe carries the needed regulatory licenses in more than 30 countries to make things easier for their customers. In return, Swipe collects the transfer and withdrawal fees when the end consumers use their cards or Swipe-powered digital wallet. As a result, Swipe can become a facilitator for many financial institutions that are willing to take a step toward cryptocurrency adoption.
There are 95,181,302+ SXP coins in circulation. This represents 40% of the maximum supply of the Swipe crypto. The 100% supply should be reached somewhere in 2028, according to the project’s whitepaper.
Swipe has seen quite a number of highs and lows in this bull market, 4 to be exact. While other coins only experienced one huge crash in May 2021, the price of SXP has been wildly fluctuating in the past 6 months.
With that in mind, the SXP coin didn’t manage to recover from the last drop as it did with every previous one. The daily candles are in a sideways trend that could go either way, and the global market will be the deciding factor whether we can see another bullish recovery for the SXP price.
The DigitalCoin website places SXP above the $20 mark in the next 5 years, a 1,000% increase from the current price in June 2021. WalletInvestor is equally bullish on the token, predicting an over 300% increase by the end of 2023.
