People's discontent with traditional financial institutions drove the massive acceptance of cryptocurrencies as they provided a decentralized look. In fact, the concept of digital assets that did not depend on government or financial entities was one of the main reasons for the success of cryptocurrencies. Eventually, we will witness DeFi (Decentralized Finance) projects and how they have changed the game, serving as investment platforms by providing liquidity to other initiatives.
In this opportunity, we will talk about a particular project (SXP) and we will answer those who wonder "What is Swipe?" about the definition of this cryptocurrency and what is the objective behind its creation.
Disclaimer: this post should not be considered investment advice. This is only for educational purposes only. Never invest more than what you are able to lose and always ask for information to your professional financial advisors. We are not financial advisors.
Swipe (SXP) can be defined as a utility cryptocurrency token that works as gas and fuel for operations carried out on the Swipe Network. This token was designated for the Swipe platform, which is a decentralized platform that supports crypto products that are used thanks to SXP.
The fundamental components of the project are:
It should be noted that using SPX tokens on the platform will give you discounts on the network fees.
Swipe security has different fronts to protect user funds. On the one hand, we know that it is backed by Binance's SAFU (Secure Asset Funds For Users) fund, which is basically an exchange fund to protect the savings of users on the platform, so we know that our money will be in good shape. hands.
Coinbase and Bitgo also provided Swipe with $100 million insurance, added to Binance's existing insurance, as if they were layers of protection.
The platform has a PCI level 1 certificate, thus increasing the security levels of the interface and largely avoiding computer breaches.
In addition, Swipe is perfect as an "all in one" platform, since you do not need to withdraw your funds to other exchanges to buy/sell or carry out certain operations. Thus, you can save a lot of money on fees and commissions that they take from you when making transactions.
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