SXP (SWIPE) is a great looking token for your everyday usage - its the token which powers the Swipe Mobile Wallet and Credit Card, which effectively bridge the FIAT and crypto world.
What you get with Swipe is a wallet that incorporates storage, swap and defi options and the option to apply for a linked credit card that allows you to cash your crypto out, straight for fiat.
The Swipe wallet
The wallet is easy to download for Apple and Android devices, and you can use it store SEVERAL crypto currencies.
You can also exchange tokens via the wallet and there are even DEFI options - you can collateralise your crypto through the wallet!
Credit Card Options
Swipe also allows you to apply for a credit card, which allows you to spend your Crypto as FIAT. There are four different levels of credit card available.
For example,
- The free 'saffron level' credit card gives you 1% cash back and $100 a day spend limit.
- For 300 SXP locked for sixth months you get access to the Sky level of credit card which gives you 2% cash back on purchases and a $200 a day limit.
- If you can stretch to a 3000 SXP lockup you get access to the Steel level which gives you 4% and a $300 spend limit
- There's also a 'silly level' of 100K SXP staked for 8% cash back and a $30K a day spend limit!
The SXP Token
There are currently just <90 M tokens in circulation out of a total supply of 300 million - and the plan is to burn 80% of all transaction and withdrawal fees until the supply comes down to 300 million.
New tokens will be minted until 2028 and a proportion of the tx fees will go to those who have staked more than 1000 SXP.
Currently you can get some pretty decent DEFI returns from pooling SXP - around the 100% per annum mark.
SXP worth buying...
This coin has a very clear use case, the wallet is very functional, and it's well set for mainstream adoption, which suggests this is a good buy.
I guess the only threat is from PayPal and other big companies who might just develop something even more seamless.
Find out more: Swipe on CMC.