Swipe Coin: Worth Investing Or Just Another Crypto?

Swipe (SXP) is a cryptocurrency card payment infrastructure platform that empowers the decentralised economy. It was founded in 2018 by entrepreneur Joselito Lizarondo and acquired by Binance in 2020. The platform enables merchants to create card-based, fiat-funded card programs that allow them to accept both fiat and cryptocurrencies with ease.

SXP is the native token of the Swipe ecosystem and is used for payment of transaction fees and as a governance token for voting on protocol changes and improvements.

Swipe has found its place in the crypto payments landscape, and its acquisition by Binance helped to increase Swipe's adoption with access to Binance's massive user base. However, as with any cryptocurrency, there are risks involved with investing in Swipe.

Swipe's ease of use and everyday payment potential

Swipe is designed to be accessible to all experience levels, making it simple to store and manage cryptocurrencies on the Swipe wallet app and spend them using the Swipe Visa debit card. The Swipe app is the main access point to the Swipe ecosystem, where users can store and manage a wide variety of assets, including both cryptocurrencies and fiat currencies. The wallet can also be used to manage the Swipe debit card, which allows users to spend their cryptocurrencies at Visa payment terminals.

Swipe's key products are its Visa debit cards and multi-asset DeFi wallet, which allows instant conversion between cryptocurrencies, fiat currencies, and stablecoins. The Swipe Visa debit card comes in three options: the Cryptocurrency card, the Ether card, and the USD coin card. The user can choose the card they prefer based on the type of cryptocurrency transactions they are likely to make.

Swipe's wide network of payment partners allows high interoperability in making these exchanges, which is often challenging for DeFi ecosystems. Swipe's mobile Dapp enables access to Apple Pay, Google Pay, and Samsung Pay, allowing users to connect all their payment methods and do away with annoying keypads and cards.

Swipe is an API service that enables businesses to issue cryptocurrency debit cards, both virtual and physical. The service connects the world's largest payment networks with the world's largest cryptocurrency exchanges. Users of the system are able to pay with cryptocurrency at more than 70 million locations in more than 30 countries. The system supports the exchange of cryptocurrencies for over 135 fiat currencies.

Swipe simplifies the onboarding process for new users. Entering the decentralized economy can be confusing for those unfamiliar with cryptocurrencies. Swipe makes it easy for new users to convert their fiat to cryptocurrencies via its fiat on-ramp. Best of all, you can purchase cryptocurrency directly from your Swipe wallet.

Swipe's acquisition by Binance

In July 2020, Binance, the world's leading crypto exchange, announced that it had acquired Swipe, a multi-asset digital wallet and Visa debit card platform. The acquisition amount was not disclosed.

Swipe is a cryptocurrency card payment infrastructure platform that empowers the decentralised economy. It allows merchants to create card-based, fiat-funded card programs that enable them to accept both fiat and cryptocurrencies. Users can also buy and spend crypto and fiat assets using the platform via its connected Visa debit cards and Smartphone dapp.

Binance CEO Changpeng Zhao (CZ) said that the acquisition would help to further mainstream adoption of cryptocurrencies by bridging the gap between fiat and digital assets. He also stated that the Swipe Wallet acts as a digital bank account for its users, providing access to traditional banking services.

Swipe CEO Joselito Lizarondo added that partnering with Binance would help to make cryptocurrencies more accessible to millions of users worldwide. He also mentioned that Swipe's goal is to further synchronise crypto with fiat currency-based transactions.

Following the acquisition, Binance listed Swipe (SXP) and opened trading for SXP/BTC, SXP/BNB, and SXP/BUSD trading pairs. Binance also received a portion of SXP from the acquisition and has committed to helping the long-term, sustainable growth of both SXP and the Swipe ecosystem.

Swipe's API service and business utility

Swipe (SXP) is an API service that enables businesses to issue cryptocurrency debit cards, both virtual and physical. The API service connects the world's largest payment networks with the largest cryptocurrency exchanges. This allows users of the system to pay with cryptocurrency at over 70 million locations in more than 30 countries.

Swipe's API service is designed to empower the decentralised economy. Merchants can create card-based, fiat-funded card programs that enable them to accept both fiat and cryptocurrencies with ease. The API service also allows businesses to create, manage, and distribute branded virtual and physical cards. Swipe manages all the regulatory, compliance, and network responsibilities of the integration.

Swipe's API service also supports the exchange of cryptocurrencies for over 135 fiat currencies. This is beneficial for merchants as it allows them to avoid any volatility in the market. The API service runs an off-chain API that provides secure interaction with the network, allowing compatibility with traditional payment infrastructure.

Swipe's business utility is focused on providing payment solutions for small businesses. The SwipeSimple Register Software Package is a point-of-sale system that is fast, reliable, and easy to use. It is packed with tools to make every transaction effortless, such as automatic adjustments of item prices and the elimination of guesswork in calculating tax rates for different jurisdictions. The software package also includes a suite of tools that save time, deliver insights, and help boost the bottom line.

Swipe's native token, SXP, and its functions

Swipe's native token, SXP, has several functions in the Swipe payment ecosystem. Here are the key functions and benefits of the SXP token:

• Payment of Transaction Fees: SXP can be used to pay for transaction fees on the Swipe network, including transfers made through the Swipe Wallet and Swipe Visa Card.
• Governance Token: SXP holders can participate in network governance by creating proposals and voting for protocol changes affecting the Swipe network.
• Staking: SXP holders can stake their tokens to obtain higher-tier Swipe Visa cards, which offer benefits such as subscriptions to Netflix or Spotify, no foreign transaction fees, and discounts at select merchants.
• Discounts: Holding SXP can provide discounts on fees within the Swipe ecosystem.
• Cashback: Users who stake 30,000 SXP for six months become eligible for a cashback of 8% on all purchases made with the Swipe Visa card.
• Voting Rights: SXP holders can vote on platform modifications and community decisions, such as changes to network operations and the selection of delegates.
• Decentralized Digital Currency: SXP serves as a decentralized digital currency, allowing users to pay at over 60 million locations worldwide that accept cryptocurrency or the Swipe Visa card.
• Deflationary Asset: SXP is designed to be a deflationary asset, with a reducing supply over time through coin burns. This can potentially increase the token's value as the supply decreases.

Swipe's price predictions and history

Swipe (SXP) is a cryptocurrency that powers the Solar Network, a decentralised layer-1 blockchain. The SXP token was founded by Joselito Lizarondo in 2018 and acquired by Binance in 2020.

SXP has a fully decentralised, efficient, and sustainable blockchain, resulting from its DPoS (Delegated Proof of Stake) consensus system. The SXP blockchain is essentially the integration of three digital currencies: Cosmos, Solana, and Ethereum.

The Swipe network grants users a highly secure framework to access close to 150 cryptocurrencies in over 70 million regions as a medium of transaction and payment. The native SXP token serves various functions within the network, including governance and staking rewards, multichain transactions, on-chain and off-chain payments, and card issue fees.

• According to PricePrediction.net, the bearish price prediction for Swipe (SXP) in 2025 is $2.30, with a potential high of $2.73. In a bullish scenario, Swipe might surpass $1,501 by 2050.
• Wallet Investor estimates the average price of SXP to reach $1.90 in 12 months. Its five-year SXP/USD projection suggests it could drop to $0.036 in 2027.
• Digital Coin predicts that the price of SXP could hit an average of $1.23 in 2022, $1.40 in 2023, $1.90 in 2025, and $4.30 in 2030.
• Price Prediction believes the average price of SXP could be $1.72 in 2022, $5.72 in 2025, and as high as $34 in 2030.
• Trading Beasts predicts that the 2022 SXP forecast shows a maximum trading price of $0.408, a minimum price of around $0.277, and an average price of $0.326.
• According to Margex, the 50-day SMA shows a short-term buy signal that might not be sustained, and the 200-day SMA shows a strong sell signal. The RSI is bearish and indicates a strong sell, while the MACD trade signal is currently neutral.
• CoinPedia predicts that the price of SXP might hit a maximum of $0.4086 by the end of 2022.
• According to CoinMarketCap, SXP has returned a 374% ROI since its inception and is considered a rewarding DeFi token.

Please note that the content of this answer is specific to the date of the search (24 August 2024) and may not reflect the most recent data. Additionally, the provided information should not be considered financial advice, and you should conduct your own research and consult a financial advisor before making any investment decisions.

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