Swipe Wallet is designed to require Swipe Tokens (SXP) to perform all functions and utility of a digital wallet, including to use in services and to make withdrawals. Users of the Swipe Wallet can buy, sell, and pay with their cryptocurrencies to fiat directly within the wallet application. Users can also purchase gift cards and make instant exchanges between all supported assets.
Users can use their SXP tokens upon launching, and there are also tiered benefits based on the SXP holding on the Wallet Contract. All Swipe Wallet users require a one (1) SXP deposit to activate and utilize on-chain functions based on an audited Smart Wallet-Contract. The protocol has been designed and built on Ethereum and destroys 80% of network and transaction fees, while 20% of the fees are retained by the company. SXP will be later used to secure the Swipe Network.
All conversion transactions that occur on the
Swipe Wallet are paid in SXP tokens. That means if
a user spends crypto with the Swipe Card or if he
buys crypto with his bank account the fees will
be in SXP.
Any network related transaction requires SXP as the
gas for the network fees. For example, if a user
withdraws Bitcoin from the Swipe Wallet, the user
pays a very a small SXP network fee.
Spend SXP as a currency such as at point-of-sale or
for gift cards directly within the Swipe Wallet and
Swipe Card at merchants worldwide. The SXP used
will be converted to fiat to perform the transaction
Users are able to get the higher Swipe Card with a
SXP stake of 300,000 for 6 months. Users are also
able to retain higher SXP balances for enhanced
discounts and enhanced rewards per the Whitepaper.