Swipe Overview – of the Swipe platform and token, characteristics, course, where to buy / sell, features, advantages and disadvantages – Swipe – a cryptocurrency system that includes a decentralized wallet with the ability to buy and sell coins, a VISA debit card, as well as a Swipe Token (SXP) functional token, designed for staking, reducing commissions and other areas.
The app is available for iOS and Android. The Bitcoinminershashrate.com editorial staff offers an overview of this platform and specifically its SXP token.
Key features of the service:
On July 7, 2020, the Binance exchange listed the Swipe (SXP) token and opened trading in SXP / BTC, SXP / BNB, SXP / BUSD pairs.
The platform continues to actively develop. So, 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 the WBTC network was established. Also, card delivery has become free.
The content of the article
SXP / USTD chart on Binance crypto exchange:
Name | Swipe |
---|---|
Official site | https://www.swipe.io/ |
Russian language | Not |
Year of foundation | 2019 |
Provided product | Wallet, exchanger, card, token |
Ticker | SXP |
Blockchain | Ethereum |
Total emission | 300 000 000 SXP |
Current issue as of 05.09.20 | 66 012 799 SXP |
Course on 09/05/20 | 1,96 $ |
Market Capitalization as of 09/05/2020 | 128 850 377 $ |
Wallet fee for converting to fiat and vice versa | 0% starting from 17 August |
Commission for card payments | 0% starting from 17 August |
Supported cryptocurrencies | Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Binance Coin, XRP, Stellar and 20 more coins |
Cryptocurrencies supported by the card | Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Swipe, XRP, Stellar |
Supported fiat currencies | USD, GBP, EUR, KRW (Korean Won), PHP (Philippine Peso) |
Replenishment methods | Cryptocurrencies, bank cards |
Verification | Need |
Security | 2FA, mobile number binding, PIN, biometric verification |
Mobile app | Yes |
Contacts | https://swipe.zendesk.com/hc/en-us/requests/new/ |
Resources | https://medium.com/swipe, https://github.com/SwipeWallet, https://twitter.com/SwipeWallet |
application Swipe Wallet available for mobile devices running iOS и Android.
To start using, you need:
Swipe Wallet includes five main sections:
Swipe Card Is a debit card that allows users to spend cryptoassets on purchases from over 50 million merchants around the world. Automatic conversion to fiat currency accepted by the merchant. The advantages of this method:
Since issuing a card in a given region requires interaction with local financial institutions and partners, this is not a quick process. The Swipe card is currently only available in the following European countries:
Austria, Belgium, Bulgaria, Hungary, Germany, Greece, Denmark, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Finland, France, Croatia, Czech Republic , Sweden, Estonia.
The Swipe network works using the Swipe API off-chain, and also partially on-chain on the Ethereum blockchain. With the help of a deposit in at least one SXP, a participant can get access to work with the Swipe network. All commissions within the wallet are calculated in SXP. Transactions are updated directly on the chain and then reflected in the Swipe API.
When a transaction is made on the Swipe Network, 80% of the fees denominated in SXP are automatically burned by the smart contract and 20% is withheld.
Other ways to use the SXP token:
It is most convenient to store the token on its native platform, Swipe. Moreover, the company provides a fairly safe and convenient wallet in which you can track spending statistics, the amount of all assets on the balance sheet, and changes in their value.
In addition, you can exchange one cryptocurrency for another at any time or withdraw it to fiat (as well as vice versa). Purchase of SXP from a bank card is available (but not in rubles).
You can buy a token directly through the application, but it is also present on some third-party exchanges. Swipe works closely with the Binance crypto exchange and, of course, this token is listed. To purchase it, log in to the trading platform and fund your account with the asset you are going to spend.
Then find SXP in the Spot Wallet section and click on Trade. At the moment, the following pairs are supported: SXP / AUD, SXP / BTC, SXP / BNB, SXP / BUSD, SXP / USDT. Choose from these options the appropriate one.
In the trading terminal, you get the opportunity to create an order of the required type, specifying either only the quantity (market), or the quantity and price (limit). After making a purchase, the cryptocurrency is immediately credited to the exchange account.
Pros:
Minuses
Swipe has not existed for very long, but in its first year of operation it has established itself as an effective, convenient and cost-effective service. With the abolition of fees in August 2020, an even greater influx of users is expected as a logical result of lower entry thresholds and active interaction with the Binance exchange, which has chosen Swipe as a payment provider for its Binance Card.
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