Swipe is a platform that provides products related to cryptocurrency financial products including Wallets, Cards, etc. In today’s discussion, we will have a look at the various offerings by Swipe Team and why I think it’s undervalued today. But as always before starting, here’s a quick disclaimer.
This Article is not a piece of financial advice. In no way we are recommending people or readers to invest in any crypto assets without the proper information. We take no responsibility for your losses/gains by investing in any project after reading this article. It’s an educational article and a beginner’s guide on Swipe Project and SXP token.
Components of Swipe Ecosystem
Swipe is the key founding company that develops products like Wallet, Cards, and more for Swipe users.
The parent company which holds majority stake in the Swipe and has partnered to bring in more growth and development for the platform. Binance cards are also powered by Swipe.
Swipe Ecosystem includes partners, dApps, Community which together form the ecosystem.
Swipe was founded in 2018 by Joselito Lizarondo with the mission to bring flexible cryptocurrency interoperability with Fiat Money and Swipe was later acquired by Binance in June 2020 at an undisclosed sum.
Swipe white-paper has a mention of $100M insurance and it states that all cryptocurrency investments are stored with custodians to make sure that they are safe and secure.
Swipe announced in 2019 that they established a strategic relationship with Coinbase Custody to provide a custodial solution for it’s swipe wallet client deposits.
The SXP token is the fuel and the native cryptocurrency of the Swipe Ecosystem of products and services. The Token economics are made such that the total supply will decrease with time as the network is utilized.
Swipe wallet is a multi-asset wallet application that enables users to buy/sell, exchange, and pay with their cryptocurrencies and fiat currencies which is currently available in over 180 countries on the Apple Apple Store and Google Play Store.
Key features of Swipe Wallet
- Multi-Asset Wallet which gives access to over 50 cryptocurrencies, stable coins, and fiat currencies.
- Users can buy/sell crypto with a linked debit card, credit card, or bank account with SEPA and Swift wire transfers.
- Swipe Swap will allow users to convert and swap one cryptocurrency with another instantly.
- Swipe Debit Card powered by Visa allows direct payment to merchants across the world with security features and benefits.
This is another interesting feature that enables merchants and consumers to pay or get paid in cryptocurrency seamlessly with the option to auto-convert in real time to over 20 fiat currencies.
Customers can pay in over 30 cryptocurrencies with no fees and send the same to anywhere in the world with iMessage or the Swipe Wallet for free.
Merchants can save upto 90% of the processing fees by using Swipe Cards to accept payments over traditional banking cards. Also, it supports instant crypto to fiat conversion option.
Swipe Wallet users can also utilize the Swipe Savings facility to deposit their cryptocurrencies and stable coins in interest-bearing accounts in the platform. Swipe Savings gives users options to utilize flexible accounts with no lock-up period or utilize higher interest rate lockup accounts to gain maximum interest on their cryptocurrencies.
The reason why it’s undervalued
- The SXP token has a market cap of less than $200 million only whereas, a project with so many offerings must have at least 10 times the present market capitalization.
- Binance is a global giant in the crypto space and generally projects which Binance owns or acquires turn out to be gold in the future.
- It hasn’t beaten its previous all-time high of $5 in 2021 when all tokens are pumping and making new ATH’s one after another.
Thanks for Reading 👏🏻, here’s a video on the same in Hindi.
Buy/Sell SXP in India : https://wazirx.com/invite/6gk4cu3g