The cases of blockchains changing the names of their native coins are quite common in the crypto sector. However, the opposite scenario, in which currencies change blockchains, is very rare. SXP is arguably the most prominent example of a cryptocurrency that has switched its core projects. Initially, SXP was created as the utility token for the Swipe ecosystem, and it was released on Ethereum and Binance Smart Chain. However, SXP is no longer associated with Swipe and now serves as the native coin of the newly created Solar network. Furthermore, today, SXP has its own blockchain. SXP is utilized in a variety of fields, including the travel industry. NOWPayments enables travel companies to accept SXP token payments using a trusted crypto payment-processing technology.
Key points:
- SXP is the native coin of Solar Network.
- SXP payments offer privacy and global availability.
- Travel businesses can get SXP payments via NOWPayments.
What is SXP crypto?
SXP constitutes the native asset of the Solar network. Solar is a permissionless and open-source blockchain that utilizes a mix of fundamental and state-of-the-art components. It relies on the Delegated Proof-of-Stake consensus and is protected by 53 voted-in delegates that generate blocks and validate transactions. A delegate’s primary function is to contribute to the blockchain network by ensuring security, delivering code updates, and promoting marketing and brand development. Delegates earn SXP rewards from blocks generated on the blockchain network, which they normally split with their voters. Holders of SXP can vote for their favorite delegates.
An 8-second block time makes Solar one of the industry’s quickest and most robust blockchains. The unique protocol powering Solar allows it to be sustainable, efficient, and entirely decentralized, as opposed to standard Proof-of-Work blockchains, which are energy demanding and vulnerable to centralized attacks.
Since SXP is older than its current project, holders of the Ethereum- and Binance Chain-based SXP can swap it for the new version of the token. The swap ratio is set at 1:1, meaning that users can easily exchange their SXP without losing a bit of value. Overall, the switch to a new project has positively impacted SXP’s growth and has strengthened the perception of the investor community about SXP being an asset which is worth investing in.
Which travel companies accept SXP?
Bitcoin.travel
Bitcoin.travel lets users book trips using Bitcoin, SXP, and many other cryptocurrencies. It is an excellent service for finding low-cost flights, hotels, resorts, accommodations, and even car rentals. Is an all-in-one platform that makes it possible to organize your entire journey without leaving the website. Crypto payments are not the only advantage of Bitcoin.travel. It is also an affordable service since it features options, which are much cheaper than those provided by its competitors. You can save up to 40% when booking with crypto on Bitcoin.travel. It also often features special deals.
Travala
Travala is one of those services that do not need an introduction because it has already become iconic in the crypto industry. It is safe to say that this is the most popular platform for booking flights and accommodations with cryptocurrencies by a wide margin. If you have not used the platform yourself, chances are some of your friends actually have done so. The SXP token is one of the coins accepted by Travala. As a result, on the platform, you can pay for your next vacation with SXP without exchanging it for fiat or some mainstream coin such as Bitcoin.
Fast Private Jet
If you are used to traveling in fashion, Fast Private Jet is your kind of service. Fast Private Jet focuses on business aviation. It makes it easier for clients to access major executive airlines by searching the market for the best aircraft available for all types of flights. Fast Private Jet makes sure to keep prices low by relying on a curated network of air taxi businesses that operate in the private jet segment. Fast Private Jet accepts all kinds of payments, including in the form of cryptocurrencies. For example, you can utilize Crypto.com to pay for your flight with SXP on Fast Private Jet.
How to book your next trip with Solar Network
As you can see, SXP is quite common among travel businesses and you will not face any problem booking a trip with Solar Network’s native token. Still, making payments in SXP may be somewhat confusing for some people. Here is a short guide on how you can book your hotel on Travala using SXP:
- Make sure you have some SXP crypto in your wallet (you can buy it on a crypto exchange).
- Go to Travala’s official website.
- Choose your location and enter other details about your desired type of accommodation, as well as the timeframe of your stay.
- Browse through the options offered by the service.
- Once you locate a place you would like to stay in, specify the period of your stay and pick the room.
- Next, you will be asked to share some info about yourself.
- Once you are past that, you will be able to choose your payment method.
- Click “Cryptocurrency” and find SXP.
- Select SXP as your payment method and make the payment.
What are the benefits of paying for travel with SXP?
SXP possesses several crucial advantages that ultimately turn it into a great payment solution. Travel businesses, especially hotels and airlines, can use SXP as a way to make their services more accessible to global clientele. SXP transactions are not limited by any jurisdictions or geographic borders. As a result, SXP can be transferred seamlessly across the entire globe. This significantly facilitates the payment process for travel businesses. Basically, companies can offer their clients a chance to pay in SXP in situations when they have no other option available to them. There are many regions in the world where PayPal, bank transfers, and similar coins simply do not work. Therefore, SXP can become a valid solution for making payments for people in such regions.
SXP payments are ideal for travel companies and their clients because of their low transaction costs and fast speed. SXP transactions are processed in the blink of an eye thanks to the scalable infrastructure of the Solar Network. Unlike Bitcoin, Solar Network is capable of handling hundreds of transactions per second, making transferring your assets on it a walk in the park. Thanks to this functionality, travel businesses can accept payments in SXP quickly. In addition to a fast speed, SXP transactions are inexpensive because their fees are almost non-existent.
Privacy is another important component that travel businesses can benefit from. Many tourists do not like to share their personal information when booking hotels. By limiting their selection of payment methods to mainstream solutions such as credit cards, hotels lose many potential clients. This is due to the fact that credit cards and other similar solutions are ultimately custodial and non-private. In order to address the problem of the lack of privacy, hotels can begin accepting SXP, which is peer-to-peer and anonymous. Thus, by switching to SXP payments, guests will be able to book a room without sharing their private info with third parties such as banks.
What are the disadvantages of paying for travel with SXP?
The key downside of paying with SXP for travel services is the market fluctuations that may significantly affect the price of the asset. SXP’s price may experience substantial spikes and dips even within 24 hours, which makes it less convenient to use as a payment method, especially when traveling.
How can I use SXP on my traveling platform?
SXP payments can be deployed by any travel business with the help of NOWPayments’ tools. NOWPayments is an SXP payment gateway that provides an extensive range of effective ways of accepting SXP as a payment. These are the tools you can use to get paid in SXP:
- 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.
Here is a guide on how to set up Recurring Custodial Payments that will let your clients top up their balances on your travel platform with SXP:
- Add your SXP wallet address and generate an API key.
- Integrate the Recurring Custodial Payment API by following this guide.
- Create deposit accounts for your users via the Billing API.
- Set up a recurring payment plan.
- Allow your customers to top up their deposit accounts.
- Charge your users automatically based on their activity on your platform.
Conclusion
SXP is Solar Network’s native coin with fast block production and inexpensive transaction fees. NOWPayments enables travel businesses to accept SXP crypto payments via its reliable toolset.