In a significant relief for cryptocurrency users, Swipe has announced on August 17, 2020, to waive the 1% fee that the Swipe Wallet and Swipe Visa Debit Cardholders need to pay to buy, sell, and convert cryptocurrencies to and from fiat currencies.
Both the Swipe Wallet and Swipe Visa Debit cards enable users to spend cryptocurrencies in fiat currencies on-demand. Furthermore, Swipe card holders will have the privilege of paying no membership fees, which means that all Swipe cards will be zero commission-based, including shipping. However, staking will still be applicable for higher tier cards.
Swipe Wallet is a multi-asset digital application that allows users to buy and sell cryptocurrencies with a linked bank account and credit or debit card. Besides enabling users to deposit and withdraw fiat and other cryptocurrencies, it provides them with real-time price and volume data for cryptocurrencies they hold.
Swipe Visa debit card enables users to convert cryptocurrencies to fiat currencies. Also, it can be managed via mobile applications.
According to Swipe CEO Joselito Lizarondo, lowering the user fee is a step toward becoming the global leader in the crypto-fiat gateway. With no fees to pay, more new and existing crypto users will join its platform and will be able to access the services offered by it, thus creating substantial growth opportunities for Swipe.