Swipe is a multi-asset digital wallet system that comes along with a debit card. It gives you options to pay real-time using over 20 cryptocurrencies. They have a clear and concise plan to run their global operations. John Kenneth, COO of Swipe strives to bring the end user of the crypto community to use their products. They are committed to bridging the gap between crypto and fiat currencies. Both the Swipe network and its tokens operate on the Ethereum blockchain.
SXP token & pricing details
The SXP tokens are the native currency in the Swipe ecosystem. They add a whole lot of value to the product line. Users can spend, use, share and redeem the tokens from the app. It is used to activate on chain features in the Swipe network. It enables all transactions fees to be counted in SXP tokens. Regardless of whether you use Swipe tokens or Bitcoin, the fees will always be shown in SXP tokens. By the end of December 2019, Swipe tokens barely crossed over $1.09. Now it is closing in on the $2 per SXP mark. It has seen a positive 10+ % change in pricing since the start of August. There has been a strong bullish trend established so concretely.
Each bitcoin will buy you approximately 6055 SXP tokens at the moment. The all-time low is at roughly $0.16, recorded just over five months ago. The all-time high was also recorded this year at $2.26 by 25th July. The circulating token supply and total token supply are 66 million and 300 million coins respectively. The market cap is a whopping $123 million that puts SXP at market cap rank of #79. For most part, the SXP tokens are traded on Binance platform. With EtherScan.io, you can explore all addresses and transactions in SXP.
80% of the fees are destroyed on the blockchain to ensure sustainability of the project. It is done as per the programmed and audited smart contract, which can be changed when required. The Onchain utility features of SXP, delivers on more number of use cases. It gives a certain edge for the project against the top competitors. The only drawback is Swipe does not extend its services to US citizens or residents. Both US and Philippines comes under the list of restricted territories.
Swipe wallet
The swipe wallet is built to mandate using SXP tokens to perform any function. Users can pay with their crypto funds, even for fiat payments directly from the wallet. The wallet app and gift cards enable smooth exchange between the supported assets. You need to deposit 1 SXP token to activate the wallet. The smart wallet contract administers the use of Onchain functions. The protocol is built on and for Ethereum network.
Swipe Visa Card
Swipe Visa Card is a derivative of the Swipe wallet. It is the ultimate crypto to fiat funded debit card. Swipe incentivizes your card usage by 1% cashback on all purchases. The card offers ATM cash access and up to $1000 in referral rewards. Card usage does not mandate the staking of SXP tokens. Basically, it is dual interfaced card supporting NFC and EMV standards. You can order your Swipe card from the company’s official website.
