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Swipe
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About Swipe

The price Swipe today is 1.68 USD, and the trading volume in 24 hours - 179,732,401 USD. The crypto asset has grown by 3.9% over the day. Currently, the coin’s market capitalization is 179,433,747 USD, and has 106,981,302 coins in circulation with the max supply of 289,612,084 coins SXP.

What is Swipe (SXP)?

Swipe is a platform that aims to form a bridge between the worlds of fiat currency and cryptocurrency with its three main existing products: 

  • multi-active mobile wallet Swipe,
  • Swipe debit card, funded by cryptocurrency,
  • Swipe Token (SXP)

The Swipe wallet acts as the primary access point to the Swipe ecosystem and can be used to store and manage a wide range of assets, including both cryptocurrencies and fiat currencies. The wallet can also be used to manage Swipe's second product, the Swipe debit card. This debit allows users to spend their cryptocurrencies on Visa payment terminals and is offered in a variety of options, each offering additional perks and benefits.

This ecosystem is powered by the Swipe Token (SXP), which functions as fuel for the Swipe Network and is used to pay transaction fees. SXP token holders are eligible for exclusive discounts in the project app, and the token can be used to make fiat payments using a Swipe debit card.

Who are the founders of the Swipe?

Swipe was founded by Joselito Lizarondo, one of the first Bitcoin investors and a man with a wealth of experience in startups. Lizarondo is currently the CEO of the platform.

In addition, former Vibial Group senior creator John Hennett is Swipe's Chief Operating Officer, and Anesita Sotomil, former head of Tax and Legal Services at PricewaterhouseCoopers, is its Chief Legal Officer (CSO). Finally, the project's executive team is complemented by a new CTO, Henry Nidoise, an experienced CTO with more than thirty years of experience in banking, retail, and financial technology.

In July 2020, it was announced that Swipe had been acquired by Binance , one of the world's leading digital asset exchanges, for an undisclosed sum.

What makes Swipe unique?

Swipe is designed to allow users to fully control their cryptocurrency and fiat funds through an easy-to-use mobile app and its associated range of crypto-debit cards.

One of its key distinguishing features is its ease of use. Swipe is designed to be accessible to users with any level of experience, making it easier to store and manage cryptocurrencies in the wallet app or spend cryptocurrencies with a Swipe Visa debit card.

As mentioned earlier, the Swipe token (SXP) is at the heart of the Swipe ecosystem. Users will need to have a fixed minimum SXP amount to be eligible to purchase a Swipe Sky, Steel, or Slate debit card - and therefore take advantage of the benefits these offers offer, such as a refund of up to 8% cashback on purchases, improved spending limits, and zero foreign transaction fees.

How many Swipe (SXP) coins are in circulation?

The maximum number of Swipe tokens (SXP) is 300 million tokens. As of January 2021, there are already 83,936,975 SXP in circulation.

According to the project's technical document, a total of 1.2 million SXP will be available each month for ecosystem rewards, in addition to an additional 600,000 SXP for the company's operations. In addition, 10 million SXP will be provided annually to the Swipe team and the founders.

How is the Swipe network protected?

Swipe (SXP) is an ERC - 20 token, as a result, its integrity is supported by the Ethereum Proof-of-Work (POW) consensus mechanism and a massive network of nodes.

In addition, Swipe Wallet users receive a $ 100 million insurance plan offered through Coinbase Custody, and have the option to lock their Swipe debit card when needed through the Swipe Wallet app.

Swipe is authorized to distribute Visa debit cards in various jurisdictions, including more than 30 countries in Europe, but also recently received the green light to launch its Visa debit card wallet and products in the United States.

Summary

  • To own your crypto assets, you need to manage your own private keys.
  • Ledger hardware wallets make private key management easy and secure.
  • Each unique 24-word recovery phrase creates a new set of private keys.
  • Make sure you secure your 24-word recovery phrase properly.
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