Today swipe released a new white paper
they just announced a new product manual
containing a new range of products
plus new car tiers this is going to make
them a direct competitor of crypto.com
swipe is still working on implementing
all these features but we can already
make a small comparison
so the swipe card or the crypto.com card
which
is better swipe was founded in 2018 two
years later in july 2020 it was bought
by binance one of the biggest exchanges
in the world in a nutshell swipe offers
a wallet
a debit card and the swipe network the
swipe network contains the functionality
of their coin
sxp swipe token is a utility based
cryptocurrency designed to be the guess
and fuel of the swipe network so the
swipe token will be used in
staking and the payments and network
fees etc
so let's look at the cards currently
swipe offers two cards
the saffron one and the slate one in the
updated white paper they'll add two new
cards
which brings them to a total of four
cards let's look at the first card
the saffron card this is a card that
gives you one percent cashback on all
your expenses
the cashback is paid in bitcoin and on
top of this you get 100 rebate on
spotify
to get this card currently and i don't
know if they're going to update this
but you'll have to pay a one-time
membership fee of 25$
so this is a really good deal you pay a
one-time fee of 25$
then you get a one percent cashback all
your expenses and on top of this you get
free spotify i think a regular spotify
account
is about 10 and a family one is around
15 or something so the one-time
membership of 25
pays itself back in approximately two
months
or faster depending on how much expenses
you make then the next card the swipe
sky card this one requires a 300 sxp
stake and it gives card folders 2
cashback in bitcoin
and 100 rebate on spotify netflix
and amazon prime so the new white paper
announcing these cards was announced
today
and immediately the price of sxp shot up
currently one sxp is worth 2.93 dollars
for the sky card you will need to stake
300 sxp which make it
a total of 879 dollars then the next
card is the swipe
steel card this one requires a 3 000 sxp
stake and a 4
cashback plus 100 rebate on spotify
netflix
apple music and amazon prime and a 10
rebate on traveler and
uber so for this card you would need to
stake 10 times the amount of the blue
card
so that's 3000 sxp which at this moment
in time is 8
820 and then the final card the swipe
slate black card this requires a stake
of 30 000 sxp
which is around 88 000 but you get a 5
cashback in bitcoin on all your
purchases and you get 100 rebate on
spotify
netflix apple music hulu amazon plus a
10
rebate on traveler airbnb starbucks and
uber so this sounds really interesting
they offer some really nice benefits
competitors at this point
in time don't yet but they kind of feel
rather expensive
if we would compare this with the
crypto.com card as you can see they
offer a little bit less benefits
but the card is a lot cheaper if you get
the ruby card which you will need to
stake 1000 cro for
this is around 160 us dollars at the
moment of this video
we would compare this to the swipe sky
card where you also get a cashback of
two percent
for this one you need to stake 300 sxp
which is around 885 dollars
so the current amount that you need to
stake in us dollars is a lot more if you
want a swipe card
but you have to take in account that the
sxp coin is really increasing in value
just this morning it was only worth
around two dollars forty cents and now
it's worth
two dollars ninety cents crypto.com
however recently changed their staking
requirements
at first you needed to stake mco their
first coin
which they swapped out to their second
coin cro when this swap happened the
card staking requirements went
up by a lot but as a compensation for
the swap they lowered the card fees
which brought him to the low amount of
cro that you need to stake to get a card
if the price of sxp continues to climb
like this it could be possible that
swipe will do something similar and
lower the prices but there's no news
regarding this
yet another big advantage to the system
of staking is that a lot of these
services
offer interest so for example if you get
the jade
green card of crypto.com you would have
to stake 10 000
cro this cro is staked on their platform
and you would get an annual interest
rate of 16
so on top of getting the three percent
cashback and the 100
rebate on spotify and netflix you also
get an annual interest of 16
on your saved amount which gets paid out
weekly so swipe is going to offer
something similarly but there's not a
lot of information
regarding this yet one thing they
mentioned for example is that swipe
savings will enable users to earn up to
40
of their idle crypto holdings on the
swipe wallet application
so for swipe the staking is not yet
available but they're working on
a big difference in how swipe is going
to work compared to crypto.com
is the way that the card works so if you
have a swipe card
you have cryptocurrency on your wallet
if you use that card the cryptocurrency
will get converted
to fiat money so you pay with your
cryptocurrency
however there will be a fee on this
conversion of one percent
for the crypto.com card you have to top
up your amount
you can do this with cryptocurrency or
fiat money so if you want to do a
transaction
of 100 us dollars you will first have to
top up the card with 100 us dollars or
you take cryptocurrency convert it to us
dollars and put it on the card this
means that there is no immediate
conversion
which means you don't have to pay a one
percent fee next up is
availability the swipe card is currently
available in most european countries and
the uk
i'll put a picture of the list right
here and if we compare that to the
crypto.com card you can see that
crypto.com is a little bit more mature
in this aspect
they are currently available in europe
uk in the usa and
singapore but swipe has announced
officially that they're working really
hard to expand their current
list so for the last point of our
comparison list i'm going to look at
the coin swipes coin sxp vias crypto.com
coin
cro so as you can see there's a big
difference in price
one sxp is worth two dollars ninety two
cents
and one zero is worth around 0.168
dollars cro has a market cap 15 and a
half times
bigger than sxp and one of the most
important things
the total supply of sxp is around
300 million while the total supply of
cro is
billion of the total supply of 100
billion cro there is currently around 18
billion cro in circulation
so there's still over 80 billion ceo
currently in the hands of crypto.com
that's going to be put in circulation
so there's going to be a lot of
inflation a big advantage
that sxb has over this is that they'll
use a deflationary model there's a total
supply of 300 million sxp
there's currently 65 million of this in
circulation
so over time there will be less and less
sxp until there's only 100 million
remaining
they're going to do this by destroying
coins that are being used to pay
fees with this is why probably sxp is
going to be a really good investment
the value will probably go up so to
summarize
swipe announced two new car tiers which
will be added to their two
existing car tiers they're gonna offer
benefits that some of their competitors
don't yet
offer but the amount you need to stake
to receive the card will be
slightly higher if you compare it to
crypto.com so in a nutshell
more interesting benefits but a higher
cost to stake
when you pay with a swipe card there
will be an instant conversion of your
cryptocurrency to
fiat money the downside of this is that
there will be a one percent
fee but the more sxp you stake the less
this fee will become
with the crypto.com cards you have to
top up your card before you use it
which means you can avoid a fee the
swipe card is currently only available
in most european countries but they're
working hard on expanding this list
while the crypto.com card is currently
available in europe uk
the usa and singapore then the final
point the coin where
sxp will use a deflationary model where
they use a total supply of 300 million
coins but they will deflate this to
100 million coins which will probably
make the coin more
valuable while cro has a total supply of
100 billion
currently almost 20 billion of this is
in circulation
which means that there's still 80
billion cro that will be released
so what am i going to do i'm probably
going to buy quite some sxp and i'm
going for the sky card or the
steel card i currently have the
crypto.com ruby card and i don't really
have any complaints
i have to add to that i didn't really
agree with the decision of crypto.com to
swap mco to
cro but in this video i just wanted to
give an objective comparison of the two
companies
so anyway that was it for this video i
hope everything was clear
if you have any questions please leave a
comment i also have a discord server
that i'll link in the description
here we can discuss cryptocurrency or
investing in general
if you enjoyed the video please leave a
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in the next video
bye
