In the last 2 months, SXP had an ROI of 223%. This has made many investors pay attention to it.
Today, let's learn about the Swipe project as well as what is the SXP token?
- 1 What is Swipe?
- 2 What problem does Swipe solve?
- 3 What's outstanding about Swipe?
- 4 What is Swipe (SXP) token?
- 5 Basic information about SXP token
- 6 Token Allocation
- 7 Token Sale
- 8 Token Release Schedule
- 9 Swipe rate (SXP) today
- 10 What is Swipe (SXP) token used for?
- 11 How to earn Swipe (SXP) token?
- 12 Swipe (SXP) token storage wallet
- 13 Swipe (SXP) token trading support
- 14 The future of Swipe (SXP) tokens
- 15 Should you invest in Swipe (SXP) token?
- 16 Summary
What is Swipe?
Swipe is a crypto-fiat gateway that allows cryptocurrency to be used as fiat money in everyday life to be built on the Ethereum blockchain.
Swipe provides users with a wallet (Swipe Wallet) to store, send and withdraw electronic money. User can pay for services with Swipe Visa debit card anywhere Visa payment is supported. This is the easiest visualization of Swipe for a typical user.
In other words, Swipe is a crypto wallet, which allows storing tokens / coins similar to Coin98 Wallet. In addition, they also expand other products and services such as cards ...
However, during the research on this project, I found that Swipe is not only a wallet to store coins, but this company is also building an ecosystem around it.
Here are the components in Swipe Network:
- Swipe Protocol Components:
- Swipe Wallet
- Swipe Card
- Swipe Smart-Contracts
- Swipe Network - Mainnet v1
- Swipe Network - DAO & Staking v2
In the framework of this article, I will mention more about its token. The other ingredients, the brothers can actively dig deeper.
This project received more attention from the community when CZ CEO's Binance repurchase and list of SXP tokens on Binance.
Maybe you are interested in: What is Binance? How to use Binance Exchange?
What problem does Swipe solve?
Swipe was born with the mission of "making crypto finance mainstream by connecting existing payment networks with cryptocurrencies".
Swipe allows users to deposit cryptocurrencies into their Swipe Wallet. Then the user can convert the electronic money to Fiat through the Swipe Visa debit card to pay in life.
What's outstanding about Swipe?
Here are some highlights of the project:
- Fast Conversions: Converting cryptocurrency to Fiat takes only a few seconds.
- Scalability: Swipe Visa card works anywhere allowing payments with Visa.
- Security: All user assets have custodial insurance. Swipe has been certified to the Payment Card Industry Data Security Standard Level 1 (PCS / DSS).
- User-friendly: Cardholders don't need to manually convert cryptocurrency to Fiat because Swipe Network already supports all conversions.
- Inflation reduction: When users use Swipe Network and use SXP tokens, 80% of transaction fees and withdrawal fees will be burned directly by Smart Contract.
What is Swipe (SXP) token?
SXP is the official token of the Swipe payment system. SXP token is built on blockchain Ethereum according to ERC-20 standard.
SXP tokens are issued through Private Sale and Public Sale on August 01, 08.
Basic information about SXP token
- Ticker: SXP
- Blockchain: Ethereum
- Contract: 0x8ce9137d39326ad0cd6491fb5cc0cba0e089b6a9
- Decimal: 18
- Token Standard: ERC20
- Token type: Utility Token
- Consensus: Proof of Stake
- Total Supply: 300,000,000 SXP
- Circulating Supply: 66,012,799 SXP
With an initial total supply of 300 million tokens, SXP is distributed by the development team into 5 parts with the following proportions:
- 120 million tokens are used as reserve fund.
- 60 million tokens are held by Founder.
- 60 million tokens are held by Team.
- 4.044 million tokens used for Public Sale.
- 1.956 million tokens used for Private Sale.
Project organizes the sale of SXP tokens through Public Sale and Private Sale.
Below are detailed information of the sales rings.
Token Release Schedule
SXP will be unlocked all tokens by 2027. Below is the detailed information about the time and number of SXP tokens unlocked.
Swipe rate (SXP) today
What is Swipe (SXP) token used for?
In the project's ecosystem, the SXP token is used for the following main purposes:
Swipe plans to use a PoS mechanism in which validators are required to contribute a certain amount of SXP to participate in staking.
In return, the validator will receive a reward for their contributions on the network.
Users stake SXP tokens and receive a discount fee.
SXP token is used to pay transaction fees and withdrawal fees on the network.
Users are required to stake SXP tokens in order to gain access to a premium debit card and higher cashback rates.
Medium of exchange
Users can store SXP tokens in their wallet and use them for Fiat payments.
How to earn Swipe (SXP) token?
Brothers can participate in staking SXP on the network to receive rewards from the project.
Or you can buy SXP token on exchanges that list it.
Swipe (SXP) token storage wallet
Swipe launched Wallet, so you can store it here. Wallet is supported on both PC and Mobile. Click the link below to download it to your computer: https://swipe.io/
In addition, you can choose Coin98 Wallet for storage.
Saw Coin98 Wallet: This is a multi-chan wallet product from Coin98 Finance team. Allows storing most of the tokens of popular blockchains such as Bitcoin, Ethereum (ERC-20, ...), Tron, Binance Chain (BEP2), TomoChain (TRC-20). So with the SXP token in the ERC-20 form, you can store it on the Coin98 Wallet safely and conveniently.
Refer to this article: Instructions for using USDT Coin98 Wallet
Swipe (SXP) token trading support
After nearly a year of launch, SXP coin is currently ranked 81st on CoinGecko and traded on many different major exchanges such as: Binance, KuCoin.
The average total trading volume in the past 30 days reached more than $ 74 million. That has to show liquidity of the SXP token is too good at the moment.
Maybe you are interested in: What is liquidity? How to check the liquidity of any coin
The future of Swipe (SXP) tokens
According to the Business Model of the project, the need to buy SXP tokens will depend on users using Swipe Visa to make payments globally.
With the launch of Swipe Visa that allows payment for services in crypto, this will attract a large number of users who are traders and holders. They can both trade crypto and use it to pay for services using Visa. They are required to buy SXP tokens to pay transaction fees as well as withdrawal fees.
Plus 80% of transaction fees and withdrawal fees will be burned, which reduces the supply that contributes to the value of SXP.
In Q4 this year, Swipe will expand its services to many new markets such as North America, Africa, Latin America. This will help more people know about the Swipe service and have the opportunity to attract more users.
Should you invest in Swipe (SXP) token?
I believe that you have learned the basic and necessary information about the SXP token after reading this paragraph.
I will note some main ideas for you to easily make investment decisions:
Below is the roadmap of the project in the coming time:
- August 10 launched the SwipeFi Whitepaper.
- August 22 launched Staking.
- Launch of Wallet Finance.
- Testnet launch.
Expanding service coverage to North America.
Q1 / 2021
Adds support for more payment channels to expand service coverage in Latin America and Africa.
Since the launch of the crypto community until now, Swipe has had many famous major partnerships that can be mentioned such as:
Coinbase Custody: Swipe and Coinbase Custody form a strategic relationship to provide custody solutions to Swipe's customers.
BitGo: BitGo is a multi-signature wallet platform and custodian. BitGo provides multi-signature service support for Swipe, while Swipe provides custody services for BigGo.
CertiK: CertiK is an official verification audit firm specializing in blockchain technology. Swipe and CertiK work together to launch different components of the Swipe network and audit Smart Contract before implementing Mainnet.
chainlink: This partnership allows Swipe to access decentralized data sources chainlink.
Currently, Swipe has 2 official products for users:
Supports storing, sending and withdrawing fiat currencies, stablecoins and other cryptocurrencies. Swipe Wallet also provides live market data for supported cryptocurrencies.
At the same time, Swipe Wallet allows users to buy and sell crypto with fiat, stablecoin or other supported cryptocurrencies. Users can also purchase cryptocurrencies backed with a linked bank account and credit or debit card.
Swipe Visa debit card:
Swipe Visa offers users two options: Swipe Saffron and Swipe Slate. Swipe Saffron Card does not require staking and is 2% refundable in BTC. The Swipe Slate card requires a certain amount of SXP to stake but is fully refundable 1% of the money in BTC.
Users can use Swipe Visa to make payments anywhere Visa is allowed.
At the end of Q3, Swipe will launch Wallet Finance with many new features for users.
SXP is a Utility token used for the following purposes: Staking, Reward, Fee, Burn, Discount, Rebates.
Hopefully, my last article has helped you to have a better overview of the Swipe project as well as the SXP token.
And you guys, what do you think about the coin after this article? Please share your opinion in the comment section or join the discussion with 17k people in the community Coin98 Finance.
Goodbye and see you in the following article.