SWFTCoin

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Discover SWFTCoin's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is SWFTCoin?

SwftCoin (SWFTC) is a cryptocurrency that operates on the Ethereum platform and is part of the SWFT Blockchain ecosystem. It is a decentralized, ERC20 token that facilitates cross-blockchain transactions and serves as the primary trading fee on SWFT Blockchain exchanges. SWFTC can be used to pay for transaction fees, service fees, and offers discounts for users. The token has a capped supply of 10 billion and is listed on various exchanges.

How is SWFTCoin used?

SwftCoin (SWFTC) is the native cryptocurrency of the SWFT Blockchain platform. It is used primarily as a utility token to facilitate transactions and provide benefits to users within the ecosystem. Here are the key ways SWFTC is utilized:

  1. Transaction Fees: SWFTC is used to pay for transaction fees on the SWFT Blockchain platform. Token holders receive a 50% discount on these fees, making it a cost-effective option for users.

  2. Service Fees: SWFTC can also be used to pay service fees within the system, further enhancing its utility.

  3. Cross-Chain Swaps: SWFTC enables seamless cross-chain swaps across multiple blockchains, including Ethereum, Binance Smart Chain, HECO, and others. This allows users to swap cryptocurrencies efficiently and securely.

  1. Discounted Fees for Large Holders: Wallets holding 500,000 SWFTC or more receive a 50% discount on fees for all transactions on the SWFT AllChain Swap, reducing fees to 0.1%.

Overall, SWFTC plays a crucial role in the SWFT Blockchain ecosystem, providing users with a convenient and cost-effective way to manage and swap cryptocurrencies across different blockchains.

How do I store SWFTCoin?

To store SWFTCoin (SWFTC) tokens securely, you can use a variety of wallets that support the cryptocurrency. Here are some options:

  1. Atomic Wallet: This wallet supports over 1000 coins and tokens, including SWFTC. It is private, secured, and offers 24/7 online support. No registration or KYC is required to use the app.

  2. SWFT Blockchain Wallet: This wallet allows you to store and manage over 500 cryptocurrencies across numerous blockchains. It offers a user-friendly interface and supports cross-chain swaps, making it easy to manage your assets.

  3. Metamask Wallet: This wallet supports millions of assets and blockchains, making it suitable for trading SWFTC on decentralized exchanges.

  1. Hardware Wallets: It is recommended to transfer your SWFTC tokens to a hardware wallet like Ledger or Trezor for added security.

These wallets provide a secure and convenient way to store and manage your SWFTCoin tokens.

How to buy SWFTCoin?

To buy SWFTCoin (SWFTC) tokens, follow these steps:

  1. Create an Account:

    • Register on a reliable centralized exchange (CEX) like Coinbase, Binance, or KuCoin, or a decentralized exchange (DEX) that supports SWFTC. Ensure you provide necessary information, including your email address and a secure password.
    • Complete any required identity verification steps and set up two-factor authentication for added security.
  2. Choose a Funding Method:

    • Select a payment method that suits you, such as credit/debit cards, bank deposits, or third-party payment channels. Some exchanges also offer peer-to-peer trading options.
  3. Buy SWFTC:

  • Navigate to the exchange's Buy & Sell section and select SWFTC as the cryptocurrency you want to purchase.
  • Choose the order type that best fits your needs, such as market orders, stop orders, limit orders, or TWAP orders.
  1. Transfer to Your Wallet:

    • Once you've purchased SWFTC, you can either hold it in your exchange account or transfer it to your personal cryptocurrency wallet, such as Metamask or Trust Wallet, for additional security and flexibility.
  2. Trade or Hold:

    • You can trade your SWFTC for other cryptocurrencies or hold it for potential long-term gains. Keep track of market trends and adjust your strategy accordingly.

Remember to research the exchange's reputation, read user reviews, and compare different exchanges to find the most suitable one for your needs.

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History of SWFTCoin

The history of SwftCoin (SWFTC) began in January 2018 when it entered the open market. Initially, the token experienced a high price of $0.09186 due to the crypto market bubble at the time. However, as the bubble burst and the token was considered overpriced, its value fell significantly, reaching less than a cent by the summer of 2018.

During the subsequent crypto winter, which lasted for about 18 months, the SWFTC token price remained low. It hit an all-time low of $0.0004686 on March 13, 2020, largely due to the impact of the Covid-19 pandemic on the markets.

In early 2021, the market began to recover, and SWFTC performed well, reaching $0.007 in April. However, the Great Crypto Day crash of May 19, 2021, caused the price to slide down. The token spent the summer of 2021 below $0.002.

In August 2021, the market picked up, driven by growing interest in non-fungible tokens (NFTs), and SWFTC reached a daily high of $0.002977 on August 18. Although there was a fallback in September and October, the token started to gain momentum in November, reaching a periodic high of $0.003789 on November 12.

In 2022, despite the overall crypto market decline, SWFTC showed growth. The listing of SWFTC on the Gate.io exchange in February boosted its price to $0.004896. After a brief decline, the token spent several months above $0.002. However, the depegging of the UST stablecoin and the collapse of LUNA in May 2022 caused a significant drop in the SWFTC price to $0.0007688. The token recovered slightly but then fell again due to the Celsius crypto lending platform's withdrawal cancellation in June.

The listing of SWFTC on Coinbase and KuCoin in July 2022 led to a significant price increase, reaching $0.003894. At that time, the token had a market capitalization of around $14 million and was the 680th largest crypto by market capitalization.

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How SWFTCoin works

SwftCoin (SWFTC) is the native token of SWFT Blockchain, a cross-chain swap aggregator that enables fast, secure, and low-cost transactions across various blockchains. Here's how it works:

Key Functionality
  • Cross-Chain Swaps: SWFTC allows users to swap cryptocurrencies across different blockchains, including DeFi, GameFi, Metaverse, and more, with a low fee of only 0.1% for SWFTC holders.
  • Discounted Fees: Holding SWFTC provides a 50% discount on transaction fees charged by SWFT Blockchain, making it an attractive option for frequent users.
  • Governance: SWFTC is expected to become the governance token for SWFT Blockchain's upcoming DEX aggregator, giving holders a say in the platform's future development.
  • Utility Token: SWFTC is primarily used as a utility token for transactions and governance, rather than for trading or holding as an investment.
Technical Details
  • Blockchain Support: SWFTC operates on multiple blockchains, including Ethereum, Binance Smart Chain, and HECO, ensuring compatibility and flexibility.
  • Artificial Intelligence Integration: SWFT Blockchain combines blockchain technology with artificial intelligence to optimize transactions, making them faster and more efficient.
Products and Services
  • SWFT Blockchain Wallet APP: A mobile app that allows users to perform one-click cross-chain swaps, access additional features like social media red packets, payment, and group buying.
  • SWFT AllChain Bridge: A web-based platform for direct, one-click cross-chain swaps without registration or login.
  • SWFT Cross-Chain Swap API + Widget: An integration tool for third-party wallets and platforms, enabling seamless cross-chain transactions.
  • SWFT NFT Aggregator: A platform that aggregates multiple NFT marketplaces, allowing users to purchase popular NFT projects with any tokens.
Staking and Earning
  • Staking: Users can stake their SWFTC to earn interest, with rates up to 125% APY, through platforms like CoinUnited.io.

In summary, SwftCoin (SWFTC) is a utility token that powers SWFT Blockchain, enabling fast, secure, and low-cost cross-chain transactions while providing holders with discounted fees and governance rights.

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SWFTCoin's strengths

SwftCoin (SWFTC) is a cryptocurrency token based on the Ethereum blockchain, used as a medium of exchange within the SWFT Blockchain platform. The platform allows users to own, transfer, and trade cryptocurrencies across different networks swiftly and securely.

Strengths of SwftCoin (SWFTC)
  1. High Staking Rates: SwftCoin offers high staking rates, with the potential to earn up to 125% APY. This means that users can earn significant interest on their holdings without any hidden fees or minimum balances.

  2. Discount on Transaction Fees: Holding SwftCoin provides a 50% discount on transaction fees within the SWFT Blockchain platform. This makes it an attractive option for users who frequently use the platform for transactions.

  3. Security: The SWFT Blockchain platform is designed to be secure, protecting users' sensitive data with measures such as two-factor authentication.

  1. Growing Ecosystem: The SWFT project has received funding from leading venture capitalists and has been part of the Berkeley Blockchain Xcelerator, indicating a strong foundation for growth and development.

  2. Potential for Long-Term Growth: Price predictions suggest that SwftCoin could experience significant growth in the long term, with some predictions reaching as high as $0.0698 by 2030.

These strengths make SwftCoin an attractive option for investors looking for a cryptocurrency with a strong ecosystem and potential for long-term growth.

SWFTCoin's risks

SWFTCoin (SWFTC) carries financial risks due to its volatility and market fluctuations. The cryptocurrency market is known for its rapid price changes, which can result in significant losses if not managed properly. Additionally, SWFTC's price can be influenced by various factors such as global economic conditions, regulatory changes, and adoption rates, making it difficult to predict its future performance.

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Did SWFTCoin raise funds?

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SWFTCoin’s team

  • Ramble Lan: Founder & CEO of SWFT Blockchain, the platform behind SwftCoin (SWFTC). He has extensive experience in blockchain and cryptocurrency, having founded several successful projects, including SWFT Blockchain, Silicon Valley Blockchain Catalyst, and North America Blockchain Association.

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