Swipe is a blockchain platform that has recently become popular. Its native token, SXP, is the only currency used on the platform, offering investors various benefits. The coin has experienced notable price changes, similar to the broader crypto market. We aimed to explore what the future may bring for the SXP token and its potential price path.
Besides providing an SXP coin price prediction, we also reviewed the exchanges that offer the coin and mentioned factors investors should know before investing in the coin. Let’s get into this in-depth guide about SXP investing.
How to Buy SXP Crypto – Quick Steps
Our quick-steps tutorial shows investors where to buy SXP crypto. Investors will know exactly where to go, what to do, and how much to deposit to own SXP.
- Step 1 – Register a Bitstamp Account – Visit Bitstamp.net and fill in an email and a password.
- Step 2 – Deposit Funds – Investors can choose several payment methods to fund their accounts. Opting for a bank transfer will require investors to deposit at least $10.
- Step 3 – Search for SXP – On the dashboard, click on the top right box where it says ‘Find asset’. Type in SXP and select SXP when it pops up.
- Step 4 – Buy SXP – Enter the total amount to buy SXP, then click ‘Buy’ at the bottom.
Cryptoassets are a highly volatile unregulated investment product.
Where to Buy SXP Coin
Although investors can buy the SXP coin from several exchanges, we found three that offered low fees, great benefits, and easy steps to buy the SXP coin.
1. Bitstamp – Overall Best Exchange for Buying SXP Coin
Bitstamp has been in business since 2011 and has added more than 73 cryptocurrencies to its platform. One of the reasons for its popularity is that it has developed a platform catering to new and pro traders. It’s easy for new traders to buy SXP with a few clicks, and pro traders can incorporate advanced indicators and strategies for their technical analysis.
After investors have registered an account and verified their identity with a passport or an ID, they can fund it via a bank transfer, cards, and cryptocurrencies. European investors can opt for SEPA. The minimum amount to deposit is $10, and ACH and SEPA deposits are free. An international wire deposit incurs a charge of 0.5%. ACH withdrawals are free. Crypto deposits are free, but withdrawals are charged based on the coin.
Traders with a monthly volume of less than $10,000 pay 0.5% for trading. Exceeding that volume decreases the trading fees to 0.25%. Traders can use their cards to invest in the best altcoins, but Bitstamp charges 5%. The platform also charges a €10 monthly fee after 12 months of inactivity.
Making money from crypto isn’t only generated from trading it. Bitstamp enables investors to stake coins. That requires them to lock in their coins on the exchange for a particular period. The only two coins that can be staked on the platform are Ethereum and Algorand. Ethereum will provide investors with a 4.26% annual percentage rate, and Algorand offers 5%.
Bitstamp wanted to ensure clients that it takes their fund management seriously by being regulated. Bitstamp is regulated by the Luxembourg Financial Regulator, the Commission de Surveillance du Secteur Financier.
Cryptoassets are a highly volatile unregulated investment product.
2. Binance – Platform that Owns SXP and Offers More than 600 Cryptos
In July 2020, Binance decided to acquire the majority share of Swipe. Then in December 2021, the crypto giant revealed its intention to acquire the remaining shares. So it’s not surprising that it lists SXP, but it also offers more than 600 other cryptos. It’s easy to see why Binance has the highest trading volume of all exchanges.
Investors can use various methods to deposit funds such as bank wire, in-person cash, Paypal, and cards. Binance doesn’t charge deposit fees and enables investors to buy cryptos for only 0.1% trading fees, making it one of the cheapest exchanges. Using Signet for withdrawals is free, but SWIFT withdrawals incur a $15 fee.
Investors won’t struggle to find some of the best DeFi coins such as Uniswap, PancakeSwap, Dai, Compound, and Avalanche on the platform. It also enables investors to stake top crypto and access the best DeFi staking coins. What makes Binance unique from most of the other exchanges is that it offers coins that have provided staking investors with more than 100% in returns after 90 days.
Another great feature of Binance is the NFT marketplace.
Cryptoassets are a highly volatile unregulated investment product.
3. FTX – Popular Exchange Offering SXP
Another popular exchange that caters to SXP investors is FTX. It’s an exchange that has gained a lot of popularity points amongst crypto investors for striving to bail out several crypto firms amid a bear market. Although beginners can buy SXP by inputting the amount and clicking ‘Buy’, FTX has designed a platform specifically for advanced traders.
Opening an account with FTX is simple, then traders can deposit funds via bank transfers, cards, and cryptocurrencies. The platform doesn’t charge for deposits, but withdrawals are charged for Ethereum, ERC-20 tokens, and small Bitcoin withdrawals.
The platform splits its trading fees between takers and makers. Traders with a volume of less than $2 million a month will pay 0.07% as takers and 0.02% as makers. FTX offers fee discounts to traders holding FTT, its native token. Traders should note that FTX also charges commissions. The maker order fees are taken in the proceeds currency – currency that traders receive. Taker order fees are in the quote currency, whether entering a buy or sell position.
FTX offers several marketplaces. Investors can use this platform to buy NFTs. Institutional investors wanting to transact large blocks can use the platform’s over-the-counter (OTC) feature. The advantage of using OTC is that investors don’t pay any additional fees and receive tight spreads.
Referring friends to the platform entitles investors to certain rewards such as discounted trading fees.
Cryptoassets are a highly volatile unregulated investment product.
What is SXP Crypto?
SXP is definitely one of the best cryptos to watch out for. Swipe is a global cryptocurrency debit card issuer. It’s a platform enabling businesses to create card programs for users to buy whatever they please. Swipe is expanding its reach in the DeFi space and provides users with the Swipe Visa Card, as well as a multi-asset DeFi app.
Swipe’s DeFi app enables users to convert between fiat, cryptos, and stablecoins.
The platform has partnered with major payment networks such as Visa, Mastercard, Google Pay, and Apple Pay. The partnership helps businesses facilitate cryptocurrency to fiat-funded card programs. Users can tokenize their cards with Swipe, enabling access to Google Pay, Apple Pay, and Samsung Pay.
One of the advantages of businesses issuing this card is that it serves as a virtual and physical card. While users wait for their physical card, branded with a business’s logo, it’s possible to issue them a virtual card to transact. Businesses can issue cards with features such as foreign transactions, MCC restrictions, PIN controls, and locking the card.
Swipe is responsible for KYC and identity verification requirements and enables clients to leverage their licenses and banking partners to get access for launch. The platform offers two accounts: standard and premium. The key benefits of opting for a premium account are that it provides marketing support, a cardholder benefits program, and a cashback rewards program.
Choosing the premium account means being entitled to Swipe waiving the setup fee and providing cheaper processing fees and card issuance fees. Processing fees are paid in SXP, so investors need to buy the token to conduct also other transactions on Swipe’s platform.
Why Buy SXP Coin?
When investors buy SXP coins, most do so because of the coin’s utility. Buying SXP provides investors with several benefits. To receive these benefits, investors must own the SXP coin.
Purchases
Businesses wanting to issue debit cards to their clients can develop a platform through Swipe. The great thing about using Swipe’s platform is that businesses can enable their clients to buy anything. Whether it’s buying NFTs or commodities, Swipe enables businesses to create card programs.
Businesses using Swipe enable their clients to transact while waiting for a physical card because they can issue a virtual card. Swipe Ramps provides a fiat channel for payments in and out of any asset class.
Customize a Platform
Swipe gives businesses the freedom to develop cards that suit the needs of their clients. They can issue cards with controls such as MCC restrictions, re-issuing lost cards, foreign transactions, locking the card, and PIN controls. Businesses can customize the access they want users to have on demand.
Developing the cards doesn’t require months of customization, and it’s simple to do with Swipe’s API. Businesses can leverage Swipe’s licenses and banking partners to get the access they need for launch. But Swipe clients don’t have to worry about KYC and identity verification requirements because it’s taken care of via an API call.
Capital Gains
The crypto market has revealed that it can make some investors 10x returns. And the best part is that some altcoins have provided such returns within a few months, even weeks. So it’s unnecessary for investors to wait years for such returns as with the stock market.
Investing in certain altcoins can potentially provide investors with great returns, and the SXP coin may have the potential to do that. Although SXP has been in a downtrend in the last few months, it has shown that it can rally almost 10x in less than six months. Most altcoins follow the general crypto market, which has been in a bear market for months.
So SXP is down from its all-time high (ATH), but what if the altcoin crypto market rallies? It could take SXP up with it.
Offer Clients Rewards
Swipe provides businesses with several benefits when choosing a premium account. Some of the benefits include waived setup fees and reduced processing fees. Businesses are also entitled to lower fees for virtual and physical cards. They also receive perks such as on-demand issuing and marketing support. But businesses can also offer their clients rewards.
Clients using the card can be part of the cardholder benefits program and cashback rewards program. Since processing fees are paid in SXP, it means that everyone using the cards from Swipe’s platform needs to buy SXP. The higher the demand for SXP, the higher its prices will be.
Staking & Defi App
Since the crypto market is highly volatile, some investors are uncomfortable with day trading it. They can lose a tremendous amount of money if the trade doesn’t work out. But what if there was a safer way to make money from crypto? The answer for many risk-averse investors is staking. It requires investors to keep their coins locked on an exchange for a certain period.
Locking coins in for a year usually provides the best returns. But some of the best day trading crypto platforms enable investors to choose the staking period. Some offer fixed options while others provide flexi options. That enables investors to choose the exact number of days to stake their coins.
The great thing about using the Swipe platform is that it enables users to stake coins from trust wallets directly to Swipe. Cardholders can use the Binance Smart Chain to start their SXP staking journey.
Investors can use Swipe’s DeFi app to convert between fiat, cryptos, and stablecoins.
SXP Crypto Price
Many investors are wondering how to buy the SXP coin, but first, let’s look at its price and possible movements. The SXP coin price has consolidated since mid-May 2022. It has ranged from $0.29 to $0.60 and is currently at $0.38. Could it reverse and surpass its previous ATH or is there more downward movement for SXP?
SXP Crypto Coin Price Prediction
Determining the right time to buy or sell any asset is extremely difficult. It’s even more challenging when the asset has a limited history, as is the case with SXP. The coin started trading on major exchanges in July 2020. Investors who got in at the initial coin offering (ICO) would’ve bought the coin at around $0.60. That would’ve been the right move because what followed was truly epic.
The coin went on a massive bull, topping out at $5 in August 2020. That’s a return of 825% in just one month after it started trading. The catalyst for the price spike was Binance acquiring the majority of Swipe so that the two companies could merge fiat and digital assets.
And that wasn’t the only time when SXP’s price pumped. We showed the chart above in the capital gains section how the coin surged almost 1,000% from December 2020 to May 21, when it set an ATH of $5.86.
Although SXP has been highly volatile, investors who bought the bottom profited handsomely, and they didn’t have to wait long for massive price spikes. What could be in store for SXP next?
Since its ATH in May 2021, the coin has made lower lows. The price kept dipping until it eventually reached the ICO price of $0.59 again in May 2022. That’s where strong support was for SXP, but it didn’t manage to hold. SXP broke through support, then tested its new resistance and failed to break through.
We see that the price rebounded to $0.56 but failed to break through that level and has been ranging since mid-May 2022. Some investors may believe that it’s possible for the price to test the resistance again and break through. And while that is a possibility, we see that the coin could set lower lows because it faces more resistance at its current price.
If we connect the lower highs, we see that SXP’s price is going to need to break through at least two resistance levels if it is to start making higher lows.
Our SXP crypto price prediction is that the price will go further down. It’s difficult to determine how much further down since it has broken through its only major support. No other price on the chart can give us an indication of how low the price can go.
Best SXP Crypto Wallet
A key factor that concerns every investor is protecting their assets. Securing one’s assets is even more important considering all the hacks that have happened in the crypto ecosystem. Not only have hackers managed to hack into exchanges and steal coins, but they’ve also managed to decode crypto wallets and access them.
That’s the reason it’s crucial investors own a secure SXP crypto wallet. A company that specializes in providing secure asset storage is Exodus Wallet. It’s one of the most popular crypto storage companies operating across seven blockchain networks. It enables holders to send, receive, and swap more than 200 cryptocurrencies.
How to Buy SXP Crypto -Tutorial
Investors wanting to know how to buy SXP crypto will find our step-by-step tutorial helpful. Besides serving as a guide, it also includes screenshots of every step of the process.
Step 1: Open an Account
To buy the SXP coin, visit Bitstamp.net. Click ‘Sign up’, then fill in a name, email, and date of birth.
Step 2: Verify Account
Before Bitstamp allows SXP purchases, users need to verify their accounts by clicking the link in the email received from the platform. It’s also necessary to upload a government-issued passport or ID.
Step 3: Fund the Account
Investors need to fund their accounts before buying SXP. To do so, investors should click the Deposit icon at the top, and then check the left side of their screen. Select the preferred payment method. If it’s via a bank transfer, type in the amount to transfer and proceed.
Step 4: Search for SPX
In the dashboard, look at the top right box that says ‘Find assets’. Click in the box and type SPX. Investors can choose an SPX pairing with USD or EUR. Click the relevant one.
Step 5: Buy SPX
The default option is buy. Also, the order type is instant on default. Users can also choose a market, limit, and stop. Without changing options, users should type in the amount of USD to buy SXP with, then click ‘Buy’ at the bottom.
Conclusion
Businesses wishing to offer a customized debit card to their clients will find Swipe’s platform to be ideal. Owning the coin provides investors with several benefits such as potentially making high capital gains. The SXP crypto price had surged around 825% within one month of the coin’s offering. Clients owning the card developed from Swipe’s platform can use it to buy NFTs, commodities, or anything else they desire. Swipe offers one of the best DeFi wallets.
Our guide has detailed everything investors need to know about Swipe’s SXP token. We have provided a step-by-step tutorial on how to buy the coin on Bitstamp. The reason we chose Bitstamp as the best exchange to buy SXP is that it offers free ACH deposits, a 0.5% trading fee, and even enables investors to earn by staking coins. Once investors have earned their rewards, they can use ACH for free withdrawal.
Cryptoassets are a highly volatile unregulated investment product.
FAQs
What is SXP crypto?
What does the SXP coin do?
Is SXP crypto a good investment?
Is the SXP coin owned by Binance?
How many SXP coins are there?