Swipe: The Bridge Between Fiat and Crypto Payments

Swipe: The Bridge Between Fiat and Crypto Payments

Swipe is a platform that enables users to create and use global payment cards that can convert and spend cryptocurrencies and fiat currencies in real time. It also offers an on-chain product called Swipe Swap, which is an automated market maker that allows users to swap and provide liquidity for various tokens. In this post, we will explore the features, trends, updates, analysis, and outlook of Swipe and its native token SXP.

Coin Introduction and Features

Swipe was founded in 2018 by Joselito Lizarondo, a former Bitcoin investor and entrepreneur. The white paper for Swipe was published in July 2019, and the token sale was launched and completed in August 2019, raising over $5 million in ETH. The mainnet of Swipe launched in September 2019, after a successful beta phase.

Swipe’s core technology is an API that connects users to the world’s largest payment network, Visa, through Swipe’s own payment cards. Swipe’s payment cards allow users to convert and spend their cryptocurrencies and fiat currencies at any point of sale or e-commerce transaction, without any fees or markups. Swipe’s API also includes Swipe Rewards, which is a card-linked cashback network that offers up to 30% cashback to cardholders at participating merchants.

Swipe’s native token is SXP, an ERC-20 utility token that powers the Swipe network. SXP is used to pay for the fees and services on the network, such as registering a card, deploying a smart contract, or sending a transaction. SXP is also used for staking to run a Swipe node, which is a node that participates in the network and earns rewards. SXP holders can also participate in the governance of the network through the Swipe DAO, which controls network parameters and upgrades.

Market Analysis and Trends

SXP is currently trading at $0.3784 USD with a 24-hour trading volume of $46,217,143 USD1. It has a circulating supply of 128,900,445 SXP and a total supply of 300,000,000 SXP1. It ranks #258 on CoinMarketCap with a market capitalization of $48,760,321 USD1.

SXP has experienced significant price fluctuations in the past year, reaching a high of $5.01 USD on August 13, 2020 and a low of $0.10 USD on March 13, 20201. The price movements of SXP are influenced by various factors, such as:

• The demand and supply of payment cards and the adoption of Swipe’s platform and services.
• The development and innovation of Swipe’s technology and products, especially the integration with other platforms and protocols, such as Binance, FTX, and Ethereum.
• The competition and collaboration with other projects and platforms in the payment and crypto space, such as Crypto.com, Wirex, and Plutus.
• The regulatory and legal environment and the compliance of payment and crypto services with different jurisdictions and standards.
• The sentiment and behavior of the crypto community and the general public towards payment and crypto and Swipe.

Project Updates

Swipe is constantly working on improving its platform and products, as well as engaging with its community and partners. Some of the recent updates and announcements from Swipe are:

• Swipe Visa Card Launch: Swipe launched its Visa card in the US, UK, and EU markets in July 2020, offering users four tiers of cards with different benefits and features, such as cashback, rebates, discounts, and airport lounge access. Swipe’s Visa card supports over 30 cryptocurrencies, stablecoins, and fiat currencies, and can be used at over 60 million merchants worldwide2.
• Swipe Acquisition by Binance: Swipe announced the acquisition by Binance, the world’s largest digital asset exchange, in July 2020, for an undisclosed amount. The acquisition aims to enhance the collaboration and integration between Swipe and Binance, as well as to expand the reach and adoption of Swipe’s platform and services. Binance also listed SXP on its platform and added support for Swipe’s payment cards3.
• Swipe Swap Launch: Swipe launched Swipe Swap, an on-chain product that allows users to swap and provide liquidity for various tokens, in September 2020. Swipe Swap is a fork of Uniswap, SushiSwap, and THORChain, and is powered by SwipeChain, a sidechain that runs on top of Ethereum. Swipe Swap supports SXP and other ERC-20 tokens, as well as Binance Chain and Binance Smart Chain tokens4.

Analysis and Recommendations for Investments

Swipe is a promising project that aims to provide a bridge between fiat and crypto payments. It offers a unique and innovative solution for creating and using global payment cards that can convert and spend cryptocurrencies and fiat currencies in real time, using an API that connects to Visa. Swipe enables users to enjoy a seamless and convenient user experience, as well as to earn rewards and cashback from Swipe’s platform and services.

SXP is a valuable token that enables users to access and benefit from Swipe’s platform and services. It also represents a stake and a voice in the governance of the network, as well as the potential integration with other platforms and protocols. SXP holders can look forward to the development and innovation of Swipe’s technology and products, as well as the growth and support of the Swipe ecosystem.

Therefore, we recommend SXP as a good investment for long-term holders who believe in the vision and potential of Swipe and payment and crypto services. However, we also advise investors to do their own research and due diligence, as well as to be aware of the risks and uncertainties involved in the crypto market.

Outlook and Community Response

Swipe has a positive outlook for the future, as it continues to develop and innovate its platform and products, as well as to expand and engage its community and partners. Swipe has a clear roadmap and vision for 2021 and beyond, which includes:

• Swipe Card Expansion: Swipe plans to launch its card in more markets and regions, such as Asia, Africa, and Latin America, as well as to offer more card tiers and features, such as metal cards, virtual cards, and NFC payments.
• Swipe Chain Upgrade: Swipe plans to upgrade its sidechain, SwipeChain, to support more tokens and protocols, such as ERC-721, ERC-1155, and Polkadot. SwipeChain will also enable interoperability between Swipe’s platform and services and other blockchain networks and applications.
• Swipe Ecosystem Growth: Swipe plans to grow and support its ecosystem of users, developers, and partners, who will use and contribute to Swipe’s platform and services. Swipe will also collaborate with other projects and platforms in the payment and crypto space, as well as with regulators and policymakers, to foster the adoption and innovation of payment and crypto services.

Swipe has a positive community response, as it has a loyal and active fan base, as well as a strong and reputable team and advisors. Swipe has over 100,000 followers on Twitter, over 20,000 members on Telegram, and over 10,000 subscribers on Reddit1. Swipe also receives positive feedback and recognition from various media outlets, industry experts, and influencers, such as CoinMarketCap, CoinGecko, and Coinbase.