The cryptocurrency sector is rapidly expanding, presenting an abundance of innovative projects that address a considerable array of challenges. As an example, the Solar network offers developers a decentralized platform with a focus on optimizing their productivity. The native coin of the Solar Network, SXP, acts as the driving force behind the Solar products and facilitates on-chain operations. The Solar blockchain’s efficiency enables SXP crypto transactions to be considerably faster than those of many of its competitors, including Ethereum. This translates into a smooth user experience and a whole host of real-world use cases. Any business or individual can capitalize on Solar’s ecosystem by accepting SXP as a payment method via NOWPayments.
Key points:
- The $SXP coin is a popular asset traded on dozens of exchanges.
- $SXP powers Solar’s products, including its metaverse District 53.
- NOWPayments helps companies and individuals to accept $SXP payments and donations.
What Is SXP Crypto?
SXP is the native coin of the Solar Blockchain. Solar is powered by a Delegated Proof of Stake (DPoS) consensus, making it a much more sustainable blockchain, compared to the Proof of Work (PoW) alternatives. Previously, SXP belonged to the Swipe project, yet, in 2022, it officially switched the blockchains and now can be found only on the Solar mainnet. The Solar Network SXP is used for a slew of on-chain purposes. For instance, Solar’s block rewards are distributed among network validators in SXP. The Solar network also lets users execute the burn function to burn (remove from the circulating supply) a certain sum of SXP. The coin is employed in numerous products of Solar and third-party services.
Use Cases
Travel
One of the coolest ways one can use their SXP is by booking hotels and flights via Travala, which is a prominent crypto-focused travel booking platform that features a selection of more than 2 million properties across over 200 countries. Travala was among the pioneers of the crypto travel industry and has been providing clients with the easiest solution to get accommodations in their desired destinations with crypto since 2017. Travala offers an astounding selection of payment options, including SXP, as well as many other cryptocurrencies and traditional payment methods. When using Travala, 24/7 customer support and a conveniently designed interface are always a given, so you will be able to easily locate the ideal place to stay and resolve any issues at any moment.
Exchanges
Just like any popular cryptocurrency, SXP is traded on numerous exchanges, both centralized and decentralized. For instance, recently, Solar struck a partnership with StealthEX, which is a non-custodial crypto trading platform, enabling users to exchange over 670 assets. SimpleSwap is another recent addition to the list of exchanges supporting SXP. SimpleSwap supports 600 different assets. There are also platforms that facilitate the migration of SXP from the ERC-20 version (the Swipe network) to the Solar mainnet version. If you have some old SXP lying around, you can go to Kucoin, the true people’s exchange, and get your fresh new SXP mainnet coins.
Payments
Thanks to NOWPayments, a payment gateway that features the SXP coin, users can integrate SXP as a payment method for goods and services. This use case can particularly benefit businesses that entertain the idea of tapping into the potential of the crypto economy. By utilizing NOWPayments’ tools, companies can let their clients make payments in the SXP crypto quickly, securely, and cost-effectively, without the need for traditional banking services. With NOWPayments, users are not required to purchase any proprietary hardware or software, as the deployment of the payment tools is absolutely free and can be done using a smartphone. NOWPayments supports the latest version of the SXP coin, the Solar mainnet one.
Donations
NOWPayments also makes it possible for people to not only purchase goods and services with SXP but also to use it as a donation method. With NOWPayments, organizations and individuals can utilize simple tools such as links or widgets that they can place on their website or social media to receive donations from their audience. NOWPayments’ interface makes the entire donation process effortless and secure. SXP coins are the perfect choice for those looking to make donations, as SXP transactions take only a few seconds and cost mere cents. What’s more, NOWPayments’ auto-conversion feature lets organizations automatically exchange their SXP for fiat, without having to worry about manually converting their coins.
Payouts
Payouts are another use case of SXP that businesses and individuals alike can enjoy. NOWPayments provides users with the opportunity to quickly send out multiple payments in the SXP coin, allowing them to save time and resources in the process. In fact, with the help of the Mass Payouts feature, users can send a batch of payments with just a few clicks, eliminating the need to manually fill out information for each payment separately. The Mass Payouts feature simply frees up your valuable time for other tasks. The service ensures that payments are made securely and instantly.
Wallets
Solar currently offers one wallet for managing SXP, that being the desktop wallet. It lets users interact with the Solar blockchain. With the wallet, users can easily transfer SXP or participate in voting for delegates and earn staking rewards. It is also the place where users can burn their SXP. If you need a wallet to accept SXP payments, the official SXP crypto wallet is the ideal solution here. The mobile wallet and browser versions are expected to be released in the near future.
Metaverse
Finally, the Solar network has launched its own metaverse called District 53, which serves as another massive use case for SXP. Currently, users can enjoy the Beta version of the metaverse. The metaverse is made by the Dokdo team. District 53 allows users to purchase land, as well as trade resources with SXP coins. Moreover, users have a chance to earn SXP within the metaverse by participating in battles and get rewards for various kinds of achievements.
How Can I Accept SXP Payments?
At NOWPayments, we strive to ensure that our clients always have flexibility when it comes to accepting crypto payments. This is why we provide several tools, which are convenient for different types of businesses and contexts. Here are the solutions you can utilize to receive SXP payments.
- eCommerce plugins: These plugins are compatible with PrestaShop, WooCommerce, Magento 2, WHMCS, OpenCart, Zen Cart, Shopify, and Shopware.
- Payment Link and a PoS terminal: Businesses can use a payment link and a virtual Point-of-Sale terminal.
- Recurring Payments: Some companies may deploy special recurring invoices.
- Custodial Recurring payments: It allows companies to set up separate billing accounts for their customers and let them top up these accounts with the cryptocurrency of their choice.
- API: NOWPayments’ versatile API enables businesses to create custom crypto payment solutions.
- Payouts: You can send mass payouts as a salary, bonus, reward, or rebate automatically to as many addresses as you wish.
In order to deploy an SXP payment link, follow these steps:
- Enter your public SXP crypto address.
- Press “Create payment link.”
- Enter the details of your payment link and click “Confirm.”
- You will receive a payment link that your clients will be able to use by simply scanning its QR code.
Conclusion
The SXP coin powering the Solar network can boast an impressive collection of use cases. NOWPayments enable businesses to deploy their own payment gateway by accepting SXP as a payment method.