Swipe (SXP) is a cryptocurrency token published on the Ethereum platform. The current Swipe (SXP) price is $1.45 with a 24-hour trading volume of $11,931,998. Price is below -0.6% in the last 24 hours. It has a current supply of 60.1 Million coins and a max supply of 300 Million coins. The most powerful exchange that is trading Swipe is KuCoin. If you want to explore the address and transactions of Swipe on block explorers such as etherscan.io and ethplorer.io.
According to its whitepaper, the Swipe Token is the ecosystem’s primary cryptocurrency which feeds the services that are delivered on the Swipe product line. The Swipe Token will be issued on the Ethereum Platform as an ERC20 standard token. The SXP token is created with a deflationary financial supply as all transaction fees will consist of the use of SXP via the Wallet Smart Contract supported by the Swipe Oracle autonomously with the code printed openly and audited.
On Sep 27, 2019, Swipe had launched a contest on Kucoin to give away 10,000 SXP to the top 500 participants.
Swipe is a digital wallet application that allows users to purchase, sell, and pay with their cryptocurrencies. The Swipe Wallet is also a fiat for its users. Swipe Wallet is also linked with the Swipe Debit Card that enables its users to use their cryptocurrency in real-time at over a million places worldwide. The platform is supported by Swipe Token (SXP) that works as the platform’s gas and is expected to process transaction fees on the network. SXP can also be employed to fiat currency, applied to purchase digital gift cards, applied for higher membership debit cards, discounts on fees on the platform, and enhanced rewards.
Swipe Token Features
According to its whitepaper, the following are its features:
• Up to 75% discount on fees
• Enhanced Rewards of up to 1% on top of existing card rewards percentages
• Used as gas for the network fees on all transactions
• Can be spent via the Swipe Card to fiat at millions of merchants worldwide
• Deflationary Monetary Supply as 80% of transaction fees are destroyed by the network automatically via a smart contract on the Ethereum blockchain.
• Required to obtain the Swipe Slate Metal Debit Card
• Redeemed for payment on digital Gift Cards.
The cryptocurrency market is ever-changing and evolving. It will be interesting to see how companies, like Swipe, will put themselves to be at the lead of this revolution.
Disclaimer: This information should not be interpreted as an endorsement of any cryptocurrency. It is not a recommendation to trade. The crypto market is full of surprises and overhyped assets. Do your research before buying anything. Do not invest more than you can afford to lose.