SXP is the native cryptocurrency of Swipe, a project designed for businesses that want to secure their place in the future economy. Swipe enables companies to issue their own custom branded cards, which then they can distribute among their clients. SXP is used to pay for Swipe’s services. At the same time, SXP is also a viable payment method outside of the Swipe ecosystem. Businesses can accept SXP as a payment option from their customers for their products and services. Moreover, SXP can help companies significantly boost their operations.
Key Points:
- SXP is the native coin of Swipe.
- SXP enables businesses to achieve better privacy and transparency.
- Businesses can use NOWPayments’ tools to accept SXP payments.
Open your business to new customers
As mentioned above, SXP is an excellent payment solution which is on par with Bitcoin, the dollar, or any other currency. As a result, people who hold a certain amount of SXP in their wallet are always willing to actually use it as a currency and buy something with it. Unfortunately, rarely do they get such a chance simply because only a small number of merchants let customers pay with SXP. Basically, currently, the supply fails to meet the demand. If you decide to feature SXP payments, your business will certainly be spotted by the Swipe community. So, you can expect a rise in the interest for your products and possibly an increase in sales coming from crypto enthusiasts and investors. Moreover, SXP is a cryptocurrency which exists on both the Ethereum and Binance networks which means that owners of ETH and BNB can easily exchange their coins for SXP. This further expands the potential clientele for businesses that decide to deploy SXP payments. The crypto community is highly supportive, and its members are always ready to help companies that become new adopters of cryptocurrencies. NOWPayments assists businesses in deploying their own SXP payment gateways using different solutions.
Ensure better privacy
Blockchain was intended as a decentralized system that would not have any central governing body able to deny certain users the ability to utilize the network. Today, the majority of blockchains continue to adhere to this principle and thus deliver an exceptional level of privacy to all users. Since blockchains are decentralized, they do not imply undergoing registration or a KYC procedure. Therefore, anyone can use blockchains anonymously, avoiding exposing their personal information and details. Both Ethereum and Binance blockchains guarantee complete confidentiality to users. As a result, businesses, by accepting SXP, can present their clients with a payment method which is anonymous and respectful of their desire for privacy. Thus, SXP payments can be an actual source of competitive advantage for companies that will attract customers who want to preserve their confidentiality when paying for products online. After all, not everyone is ready to share their credit card details with online payment systems. SXP payments enable people to conduct payments without disclosing their sensitive data to any third party. Additionally, SXP payments also can be perfect for sending payments to suppliers and contractors who once again wish to stay anonymous. Basically, SXP is a powerful tool for upholding the highest standards of privacy.
Facilitate international transfers
Every business owner that has ever encountered the need for sending or receiving an international transfer understands that it can be a really tough task. Despite constantly marketing themselves as client-oriented, banks are extremely slow when it comes to processing international transfers. As a result, companies may wait for several days before they receive a transfer from their clients living abroad. This is not only annoying but also unacceptable when judging by the standards of the modern economy. Businesses need to receive payments from their clients instantly, just like consumers want to get their hands on the products they paid for as soon as possible.
SXP can solve the issue of international bank transfers, bringing their processing speed to mere minutes. It takes several minutes for an SXP transaction to reach its destination. Moreover, it does not matter how far people live. The transaction speed always stays the same. Businesses can significantly improve the speed of their operations by accepting SXP as payment. SXP can be particularly important for companies when working with foreign clients, contractors, or suppliers. With the help of SXP, businesses can easily streamline their processes and once again get a competitive advantage by being able to deal with foreign orders in a fast and efficient manner.
Lower your expenses
SXP transactions also can solve another problem often experienced by businesses, namely, it can help them to significantly reduce costs, especially those inherent to bank operations. Every time a business receives a payment from their client, they always need to pay a certain share of it to the bank in the form of a fee. Although at first glance, such a fee may seem negligible, each of them adds up to a pretty sizable sum at the end of the year. Sometimes businesses end up paying thousands of dollars in fees to banks. Additionally, there are always service and maintenance charges which are regular.
SXP transactions, compared to bank transfers, are cheap. Moreover, since SXP tokens exist on two different networks, users can actually choose between them depending on the network fees at a particular moment. Basically, when using SXP as payment, businesses gain the capacity to bring down their expenses and save hundreds and thousands of dollars annually. In a similar fashion, by paying to contractors and suppliers in SXP, businesses once again can decrease their operational costs. Even while using providers such as NOWPayments to accept SXP, you can still get a better deal than when utilizing banks’ services.
Bring more transparency to business operations
Finally, blockchain technology, despite being private, is also transparent. In other words, blockchains record information about each transaction and make it public. Essentially, any person can get a chance to check the current balance and all transactions of a certain crypto address. While it may seem quite risky and not confidential, it is actually a great feature. First of all, there is no reason to raise privacy concerns since, as mentioned earlier, all transactions are anonymous, so it is hard to pin down one particular crypto address to a certain person or company. There are also services such as NOWPayments, which can assist companies in processing crypto payments and thus prevent the client from discovering the actual crypto address of the company they bought products from. Moreover, every transaction not only gets recorded but also stays permanently on the blockchain, thus, allowing businesses to track all of their financial activity. Such a level of transparency lets companies ensure better accountability and eradicate any kind of fraud on the part of the workers. The transparency offered by SXP can serve as the foundation for complying with strict accountability standards. Additionally, it can also help the company to clearly assess its financial performance and make adjustments to achieve growth in the future.
Conclusion
SXP is a cryptocurrency that can benefit businesses in a variety of ways. For instance, it can help them to reduce their expenses and expand their clientele. NOWPayments enables merchants to accept SXP as payment in a fast and reliable way.