SXP, short for Swipe, is the native utility token of Solar Network. It was originally launched as a cryptocurrency payment platform, enabling users to spend cryptocurrency in real time through services such as Visa debit cards.In 2020, SXP was acquired by Binance, and in 2021, it began operating independently and transitioned into the underlying native asset of the Layer 1 blockchain, Solar Network. SXP plays multiple roles within the Solar ecosystem, including paying gas fees, participating in on-chain governance, and staking to earn rewards.
Where to Buy SXP? A Roundup of Major Exchanges
SXP can be purchased and traded on several major cryptocurrency exchanges. Here are some common platforms that support SXP trading:
- Binance (Binance): As the world’s leading cryptocurrency exchange, Binance—which previously acquired Swipe—supports SXP trading. Users can view real-time SXP prices and trading pairs at Binance.
- Kraken: Kraken is another well-known exchange that supports SXP trading, offering trading pairs between SXP and other cryptocurrencies.
- Uniswap: SXP can also be bought and sold on decentralized exchanges (DEXs) such as Uniswap.
- Crypto.com: This platform also provides real-time SXP prices, charts, and trading services.
- HTX (formerly HTX): Users can check the current price, trading volume, and historical data for SXP on the HTX exchange.
- FameEX: FameEX offers SXP/USDT spot trading, along with price changes and market trend tracking.
In addition, platforms such as CoinLore list all platforms where SXP can be bought, sold, and traded, sorted by trading volume. Before trading, it is recommended to verify the latest prices and project information on information platforms such as Svmuu.
Complete Guide to Buying and Selling SXP
Buying and selling SXP on an exchange typically follows these basic steps:
- Register and complete identity verification (KYC): Choose a cryptocurrency exchange that supports SXP trading and register an account using your phone number or email address. Complete the identity verification (Know Your Customer, KYC) process as required by the exchange, which typically involves providing valid identification.
- Deposit Funds: Once your identity verification is approved, you can choose a suitable payment method (such as bank transfer, credit/debit card, or depositing other cryptocurrencies) to fund your exchange account.
- Search for SXP: In the exchange’s trading interface or search bar, enter “SXP” or “Solar” to find the SXP trading pair (e.g., SXP/USDT).
- Place a Buy or Sell Order:
- Buying SXP: Enter the amount of SXP you wish to buy or the amount you want to spend, then select a market order (executed immediately at the current market price) or a limit order (executed at the price you specify). After confirming the order details, click “Buy.”
- Selling SXP: If you want to sell SXP, select the “Sell” option, enter the amount of SXP you wish to sell, choose either a market order or a limit order, and then click “Sell.”
- Withdraw or Store: Once the trade is complete, you can choose to withdraw SXP to your personal cryptocurrency wallet (such as Trust Wallet, MetaMask, etc.; SXP supports the ERC-20 and BEP-2 token standards) to enhance the security of your assets, or continue to keep it in your exchange account for future trading.
Uses and Ecosystem of SXP
As the native token of Solar Network, the value and uses of SXP are primarily reflected in the following areas:
- Payments: SXP can be used to pay transaction fees on the Solar Network. Additionally, through the Swipe Visa card, SXP can be used for payments at merchants worldwide that accept Visa cards, enabling real-time conversion between cryptocurrency and fiat currency.
- Governance: SXP holders possess governance rights and can participate in the Solar Network’s decentralized governance voting, proposing and voting on protocol improvements and upgrades.
- Staking and Rewards: Users can earn staking rewards or other incentives by staking SXP.
- Discounts and Benefits: Users who hold and stake SXP can enjoy exclusive discounts and benefits within the Swipe ecosystem, such as premium debit card perks and transaction fee waivers.
- Deflationary Mechanism: SXP is designed with a deflationary model; a portion of transaction fees is “burned,” thereby reducing the total supply. The ultimate goal is to reduce the total supply from 300 million to 100 million.
The evolution of SXP reflects the crypto industry’s trend from payment solutions toward Layer 1 public blockchains. As the Solar Network ecosystem continues to expand and adoption grows, SXP’s long-term value is worth watching.
