Over the past couple of years, the crypto industry has had quite a lot of success and a recent surge in its overall growth and popularity, that too at a rate that was never really anticipated. Not just that, from the looks of it, it doesn’t seem like it is going to slow down anytime soon! Also, the industry has had a wonderful journey so far by being able to lure in potential investors from all across the globe and managing to make a name for itself in the global marketplace.
Having said that, I believe a majority of you are already familiar with the basics of the industry and I am sure that you are eagerly waiting for us to start with what we have with us today but, for some of you who are new to this whole thing, it’s best if we have a brief look at the industry first.
To begin with, cryptocurrencies as the name suggest is nothing but a form of online or virtual currencies that can easily be made use of for a variety of purposes including the purchase and sale of goods and services as well as for the purpose of trade and exchange over cryptocurrency exchanges available online.
In other words, crypto is a blockchain-based platform that is known to be decentralized to its very core. Being decentralized, the crypto world becomes more than capable of stepping outside the overall control and jurisdiction of central authorities and can work freely without any unnecessary government interferences as well.
Also, when the industry was first introduced there were not many currencies to choose from and honestly, not many people were looking to be a part of it either as people back then were very skeptical with respect to the return on investments they could expect as well as the safety of their money too.
That is surely not the case anymore as today, we have pools of currencies available for investors to choose from, with newer ones coming in with each passing day and tons of new investors joining in every hour.
Speaking of a lot of currencies available today in the marketplace, some of the most popular ones worth investing in includes Bitcoin, Cardano, Baby Doge, Ethereum, Dogecoin, Polkadot, Binance Coin, PancakeSwap as well as EverGrow Coin to name just a few of course.
In addition to this, it feels rather interesting seeing such a rapid growth of the industry over the past couple of years and so, let’s look at some of the major contributing factors responsible for this huge success including portability, high-profit margins, volatility, negligible response time, convince it offers, intuitive nature as well as ease of use of course.
Being volatile, it is important for you to be aware of the fact that, it is not always possible to predict the price changes and act accordingly as the price fluctuations in the crypto marketplace are almost immediate, thus leaving no time to plan. Therefore, whenever dealing in online currencies, keep in mind that, if the industry is providing you with an opportunity to earn huge profits and make quick money, if not done right, you could also end up having significantly huge losses as well.
Not just that, as per the chatter amongst some of the leading experts on the field, it has come to our notice that, crypto is rapidly progressing towards completely revolutionizing the global payment system and from where I stand, it looks like it has already started to do so as many merchants and businesses have started accepting crypto as an official mode of payment from their customers.
Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, SXP. To know more, I suggest you read further!
Everything to know about SXP (SXP)
Swipe is nothing but a platform that focuses on forming a bridge between the cryptocurrency as well as fiat worlds with its API that is designed in order to create global payment cards that are said to be powered by its native utility token, SXP. Not just that, this entire ecosystem is known to be powered by the said SXP token, which functions as the so-called fuel for the Solar Network.
Not just that, unlike other virtual currencies, Swipe is not just another protocol that is known to be powered by a distributed network but is rather a digital wallet and software ecosystem that together are said to be designed in order to allow users to easily purchase and spend digital assets as well as cash at digital and physical locations.
In addition to this, being a product of a for-profit company, Swipe wallets can further be connected to Visa debit cards as well as a smartphone application, thus providing an experience that is much more familiar to the traditional mobile wallets, which includes customized cardholder perks, such as the so-called ability to receive up to eight percent cashback in Bitcoin along with free Spotify accounts.
Before moving any further, it is probably worth noting that, Swipe was founded by an early Bitcoin investor and an individual with a wealth of experience when it comes to startup businesses, Joselito Lizarondo. On a similar note, Lizarondo is currently known to serve as the CEO of the said platform. Moreover, according to reports from July 2020, Swipe was acquired by Binance, which we all know by now is one of the world’s leading virtual asset exchanges.
Also, SXP is said to be the native utility token of the Swipe platform, which as a matter of fact can be used for a variety of purposes on the platform itself like being used for securing Solar networks with the help of governance and bonding as well as for paying transaction fees. Coming back to the topic, know that, Swipe wallets are enhanced by simply a host of new features which are made possible only by the integration of its custom currency, SXP.
For instance, Swipe is one such platform that does not charge any fees for its debit cards. Instead, users on the platform can easily stake SXP tokens in order to access debit cards wth several additional perks. Having said that, the more SXP tokens users lock in special contracts on the Swipe network, the more perks they are bound to receive in return.
As mentioned, Swipe has managed to be that platform whose currency powers the largest cryptocurrency exchange, all across the globe, Binance as well as FTX, by simply connecting to the world’s largest payment network, Visa, via its Swipe API.
Apart from this, the Swipe API is said to enable real-time virtual currencies to fiat conversions with just a swipe of a debit card at the point of sale of course, or even an e-commerce transaction which enables Swipe to create a frictionless user experience for its clients.
Lastly, Bundled in the Swipe API is Swipe Rewards, which is nothing but a card-linked offer cashback network that easily lets cardholders earn nearly 30 percent back at participating retailers.
Now that we have talked much about SXP, some of you must be wondering, whether or not it is a good idea to invest in the platform? If that’s the case, then let’s find out, shall we?
Investing in SXP (SXP)
As of today, the price of SXP is about 1.33 US dollars with a twenty-four-hour trading volume of 34,068,037 dollars. Not just that, in just the past twenty-four hours, the value of SXP has gone up by 0.70 percent, and with the current market cap of 637,503,478 US dollars, SXP is currently placed at #114 position as per the CoinMarketCap rankings.
Also, it is worth mentioning that, the current circulating supply of SXP is 479,937,576 SXP coins, but unfortunately the maximum lifetime supply of the token is not yet available. In just the past week alone, the price of the platform has fallen by 18.89 percent.
Reading so far, you must have gotten a fair understanding of the platform and by now, you should be able to figure out on your own whether or not investing in SXP is the right thing for you to do. Seeing what it has to offer when combined with its performance in the recent past as well as its plans for the near future, I certainly believe that SXP can prove to be a profitable investment in the near future, which is likely to provide you with higher returns and it is a possibility that your current investment may increase in value. But again, nothing can be said for sure!
As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, It is very important for you to understand the fact that just like any other currency in the crypto marketplace, SXP does have its own risks as well and you should invest only if you are willing to take those risks and bear any and all losses if at all necessary.
If you are wondering, where can you buy SXP? Let me help you with that. Currently, SXP is available on all major crypto exchanges but, some of the popular exchanges that have SXP listed on them include FTX, Binance, Bybit, HitBTC as well as CoinTiger to name a few.
In conclusion, what are your thoughts on SXP? Do let us know in the comments area below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!