Swipe (SXP) and META 1 Coin provide decentralized solutions to the market. These platforms enable users to interact in a secure and reliable manner with the decentralized economy. Notably, these projects share some common goals like simplifying onboarding for new investors. However, there are some serious differences between the two platforms that place them at opposite ends of the spectrum in terms of market niches.
What is Swipe (SXP)?
Swipe operates as a cryptocurrency card payment infrastructure platform. The protocol was built to provide merchants a streamlined way to issue and accept blockchain-based cards. By enabling the rapid creation of crypto-to-fiat funded card programs, Swipe empowers investors to leverage blockchain technology in new ways.
Notably, Swipe offers high interoperability within both markets. For example, users can buy and spend both crypto and fiat assets using the platform. Additionally, a custom-built Smartphone application complements the network’s VISA debit card. This card allows you to spend your crypto anywhere that accepts VISA globally. Notably, in July 2020, Binance, the world’s largest exchange in terms of market cap, acquired Swipe for an undisclosed amount.
What is META 1 Coin?
META 1 Coin is the main stablecoin for the META blockchain. This fourth-generation network provides users access to a host of next-gen DeFi features including a VISA debit card and a high yield savings account. META 1 is unique because it represents an evolution in the sector. It’s the first self-appreciating multi-asset-backed coin to enter service. It’s also the first coin to employ smart contracts to protect token value from whale dumps
What Problems was Swipe (SXP) Built to Alleviate?
Swipe was built to alleviate a variety of problems in the market. The network provides easy integration with traditional financial systems and PoSs. Notably, firms can integrate blockchain payments without the need to add any additional hardware or software. This strategy reduces the technical barriers for merchants and users alike. In this way, Swipe promotes the large-scale adoption of cryptocurrencies.
Another major concern for Swipe developers was high fees. Recently, networks such as Ethereum have experienced high gas fees. These fees have limited the network’s ability to operate as a reliable electronic cash system. Swipe was built from the ground up to eliminate these fees for all parties. For example, the network doesn’t charge fees for its debit cards
What Problems was META 1 Built to Alleviate?
META 1 was built to provide individuals a way to generate wealth that is separate from the current financial system. The network was constructed in a manner to provide these services from both a technical and legal standpoint. For example, META 1 Coin is based outside of US corporate regulatory control. This enables the network to provide services without the interference of the SEC or IRS.
META 1 Coin introduces a new level of stability to the market. The coin is backed by appreciating assets. As such, the token’s value is set to rise for the foreseeable future. META 1 plays a vital role in providing META Exchange DEX users with a means to escape market volatility and exchange value in an easily accountable way.
How Does Swipe (SXP) Work?
Swipe introduces a variety of services that make crypto adoptions easier than ever for businesses. For one, the network provides the tools for enterprise and small business clientele to create, manage, and distribute branded virtual and physical cards. The network saves these firms money in multiple ways.
Swipe manages all the regulatory, compliance, and network responsibilities associated with blockchain integration. The platform streamlines the entire process for businesses. It handles all of the KYC and identity verification requirements per region. Additionally, the network has secured multiple high-level banking partners across +30 countries.
Notably, Swipe was built atop the Ethereum blockchain. The network integrates complex smart contracts to convert your crypto into fiat at the PoS. To accomplish this task, Swipe launched an off-chain API that allows for compatibility with traditional payments infrastructure.
Swipe is very flexible. The network currently supports +30 cryptocurrencies and 135 fiat currencies. Merchants and users enjoy some additional perks such as up to 8% cashback in Bitcoin. There are also free Netflix and Spotify subscriptions given to all custom cardholders.
Swipe-powered debit cards provide interoperability with Apple Pay, Google Pay, and Samsung Pay as well. This approach helps promote a touchless experience during the current pandemic. Consequently, Swipe provides safer transactions compared to traditional fiat currency.
How Does META 1 Work?
META 1 Coin users join the METANOMICs universe to regain control over their financial destiny. This network includes a variety of features that makes it ideal for users seeking ROI opportunities. For one, the META 1 stablecoin provides protections against whale dumps via its smart contract 6. This system blocks large sales of META 1 coins for under token value.
Additionally, the system introduces a KYC human verification function to ensure that only individuals own the token. The motivation behind this protocol is to create an environment that is conducive to the well-being of the average token holder and not large whales or investment firms. By eliminating corporations, investment firms, and governments from partaking in the METANOMICS ecosystem, the protocol provides a fairer and more democratic financial system to the public.
The META Exchange is the native DEX (decentralized exchange) of the network. This feature enables users to easily buy, sell, and trade cryptocurrencies in a peer-to-peer fashion. Notably, this non-custodial DEX improves security when compared to large CEXs due to the fact that your crypto remains safely stored in your wallet until your trade executes.
Swipe (SXP) vs META 1 Coin – Promoting Crypto Adoption from Opposite Sides
Swipe was built to provide merchants with a simplistic way to start accepting Cryptocurrencies at their locations. The network serves a vital role in this regard. In comparison, the META 1 coin offers similar services to Swipe but is geared towards users rather than merchants. While both of these projects help drive adoption, META 1 provides a more inclusive DeFi ecosystem when compared to Swipe. However, given Swipe’s success to date, it’s safe to assume both of these projects have a lot of potential moving forward.