What is SwipeCoin?


Introducing you to Swipe Visa card: it enables instant switching between crypto assets, fiat currencies and even stable coins, all powered by the native coin SXP.

What is SwipeCoin?

Unlike other speculative tokens, SXP is the native token of the Swipe ecosystem. It is in fact a utility token. Further, these utilities provide incentives to investors to hold the token. Most similar DeFi (Decentralised Finance) projects require investors to stake their cryptos to enjoy the debit card benefits. However, this is not a requirement with SXP. Even holding SXP is not a prerequisite. With SXP, you can enjoy top-tier card benefits like Netflix and Spotify subscriptions, zero fees for foreign transactions, discounts on Starbucks, Airbnb, Uber, and Apple Music.

Read About: What is SXP & How you can Earn it?

Swipe acts as a bridge. This means, it brings in the traditional financing and the crypto world closer together through interoperability between regular fiat currencies as well as the crypto assets. Through a partnership with leading payment networks, Swipe’s powerful API creates a unique product for seamless, interlinked transactions. Swipe does not charge any fee for the debit card facilities—a welcome benefit, especially for those tired of paying high transaction fees with crypto assets.

Swipe offers multiple benefits. Some of them are:

  1. An easy onboarding system for users who are still learning about SXP.
  2. The flexibility to choose from over 30 crypto assets and 135 global fiat currencies.
  3. Other cashbacks and discounts, such as an 8% cashback on purchases using Bitcoin. 

Is the SXP coin a good investment?

To determine whether SXP is a good investment or not, one needs to importantly look at regulatory approval. Swipe manages region-wise identity verification and compliances related to KYC to ensure that it has all regulatory approvals in place, and has a globally accepted protocol with its presence in over 30 countries.

Through Swipe, businesses can launch their own physical or virtual cards and get access to Swipe’s banking partners. Meanwhile,  the compliance responsibility remains solely on Swipe.

Like most other decentralised apps, Swipe was created on the Ethereum blockchain. One of the advantages of being on this blockchain is that it provides added security and compatibility with other apps. SXP and other crypto tokens can be stored in wallets or decentralised exchanges that are compliant with ERC-20 standards.

Swipe (SXP) Wallet

One can access multiple assets through a single wallet, the Swipe SXP Wallet. This wallet is used to buy SXP coins. What’s more, it can be connected with other payment platforms as well.

Instant Conversions

Investing in SXP could be considered a great choice because of this feature. Instant conversions protect investors from the risk of volatility even as they can instantly use their crypto to make a purchase.

Swipe (SXP) Card

The Swipe is their core feature due to its partnership with Visa. The card is accepted in all the places where a Visa card is accepted. Through smart contracts, crypto can be converted to fiat currency and back almost instantaneously. The off-chain API (transactions outside the blockchain) helps facilitate smooth transactions with traditional financing methods.

Where can I buy SXP?

Available for very affordable prices, you can invest in SXP through safe crypto exchanges like ZebPay. ZebPay stores 98% of the crypto coins in a cold wallet, making it extremely safe. The popular exchange also offers many additional offers for you to leverage your crypto investment effectively.

The Potential Future of SXP 

Savings Accounts

Crypto savings accounts are the next big thing in the crypto ecosystem since they would be a method for investors to earn interest on long-term crypto investments while providing liquidity to the platforms.

Credit Cards

Swipe has shown interest in launching credit cards in the future. This process will be the first of its kind but might take inspiration from crypto lending protocols.

Merchant Payment Channels

As more businesses come on board and accept Swipe as a valid payment method, its popularity is only set to soar. More investors will consider SwipeCoin as an option to make payments. Therefore, a system to integrate smoother merchant payments could be a beneficial step.

Parting Thoughts

Through Swipe, businesses and users both stand to enjoy multiple benefits. By expanding the use of the Swipe cards, their network stands a chance to become a lucrative investment option, thus removing all doubts about SXP being a good investment.

Stay tuned to the latest news about SXP and other crypto-assets with ZebPay. Join two-thirds of India’s crypto investors and start trading on ZebPay today!

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Each investor must do his/her own research or seek independent advice if necessary before initiating any transactions in crypto products and NFTs. The views, thoughts, and opinions expressed in the article belong solely to the author, and not to ZebPay or the author’s employer or other groups or individuals. ZebPay shall not be held liable for any acts or omissions, or losses incurred by the investors. ZebPay has not received any compensation in cash or kind for the above article and the article is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

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