Blog Borrowing Swipe (SXP) coin review: What it is, Price, How to buy

Swipe (SXP) coin review: What it is, Price, How to buy

date October 15, 2020 time 3 min read

Swipe coin is the primary token used to buy products on the Swipe protocol. It shot to the limelight since it was purchased by Binance to roll out a new crypto debit card. Here’s how Swipe got its start, why it’s so big now, and where you can buy it today.

In just one year, the price of Swipe coin (better known as SXP) has increased more than 10x. Besides partnering with huge players like Binance and Coinbase, Swipe Protocol is moving to create a host of DeFi apps, and even dropped hints at becoming a bank.

In this Swipe coin review, we’ll be looking at the SXP’s impact on the DeFi movement and why it’s become one of the hottest cryptos on the market.

What is Swipe coin (SXP)?

SXP serves as the primary means of payment for products on Swipe, a payment protocol currently acting as a crypto debit card platform and digital asset wallet. 

You can use your SXP to cover transaction fees and debit card payments through Swipe. And all payments in SXP can easily be converted to fiat. Swipe also provides discounts if you use SXP on their card.

When the Swipe network is fully completed, SXP is planned to also be used for governance. This means users of the platform will be able to vote for certain changes using SXP.

What is Swipe coin (SXP)
Swipe coin could be the next big thing in crypto-to-fiat transactions (source: research.binance.com)

Why is Swipe coin popular?

Most credit the immediate rise in price and popularity of SXP to Swipe’s partnership with Binance in July and the subsequent launch of its crypto debit card. 

The Swipe card lets you make direct fiat purchases using cryptocurrency, a feature that is not offered by many crypto debit cards. The Swipe card also comes with up to 5% cashback reward on all purchases and 100% rebates on things like Spotify and Netflix accounts.

The credibility of Binance and the unique credit-card features helped push SXP from $1.5 per coin to $5 in a matter of days once it was announced.  

People are also excited about SXP becoming a governance token once the Swipe network is created. Having the power to determine how a promising platform like Swipe is managed has proved to be very attractive for DeFi investors.

Much of Swipe’s success can be attributed to its successful partnerships
Much of Swipe’s success can be attributed to its successful partnerships
(source: erticonetwork.com)

Where can you buy and store Swipe Coins?

Swipe is an ERC-20 coin so it can be stored in most ETH-based wallets
Swipe is an ERC-20 coin so it can be stored in most ETH-based wallets (source: flickr.com)

Where can you store Swipe coins? 

Any Ethereum-based wallet can store your SXP since it’s an ERC-20 token. Wallets that support SXP include Trezor, Ledger, Trust wallet, Atomic waller, and MyEtherWallet.

Where can you buy Swipe coins?

Presently, Binance is the most effective place to buy SXP.  Other exchanges like Bithumb, Coinbase, and Upbit also sell Swipe coin. However, there’s a slight price variation in different markets. While Binance and Coinbase sell for $1.50, Bithumb’s Swipe coin price is  $1.51.

Exchange prices can vary drastically. Often you’ll need to shift your crypto between multiple exchanges to get the best price on coins like SXP. However, today are better options.

Where to margin buy Swipe coins at the best market prices, guaranteed

If you’re looking for the best market price on your SXP, you can buy Swipe coins on MyConstant. We’re a P2P lending platform offering top of the line crypto-backed loans worldwide.

When you take out a loan in SXP on MyConstant we source the best prices on exchanges for you. You also get:

  • To select your rate and term
  • Borrow from as low as 6% APR
  • Early repayment
  • Your collateral secured in a secure third-party wallet
  • No extra exchange fees
  • 24/7 customer service
  • Borrow against 70+ different cryptos

Get in on the latest trend in crypto without selling your investment. Check out MyConstant crypto credit today.


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