Changelly adds Swarm City Token, allowing credit card payments for SWT
Changelly is an online exchange that allows users to easily swap between cryptocurrencies, or between fiat and cryptocurrencies. SC users may usechangelly.com to quickly convert their local currency into Swarm City Tokens using their credit card.
The goal of Blockchain technology is to replace inefficient legacy banking systems. But, because the technology is still very young and adoption rates are relatively low, this will not happen overnight. Until then, the question is what is the best way to acquire cryptocurrencies like bitcoin or ether? If you don’t earn them or get them donated, you will have to buy them with your local currency.
To make this process as easy as possible, Swarm City, the sharing economy platform that uses blockchain technology to enable you to share your car (similar to Uber), or apartment (similar to AirBnB), has it’s token now available on Changelly. Changelly makes swapping cash for SWT a simple, fluid process without the need of an intermediary crypto.
For those not familiar with the project, Swarm City has its own currency called Swarm City Tokens (SWT). The token is used to pay for services within its platform. For example, if you need a ride from your house to the airport, in the app you may see the price denominated in your local currency if you wish (e.g. 35 USD), but you will actually be paying with SWT.
However, the token does much more than just pay for a ride. Using it also creates reputation points based on transaction context, and allows people to make special offers that only token holders can redeem. But most of all, users benefit from the underlying Blockchain technology that makes services rendered on the platform “trustless”. Neither the driver nor the rider have to worry that the arrangement they made will not be fulfilled by the other party. Smart contracts hold the payment until both sides agree that the service rendered was as advertised.
In order to use the Swarm City platform you will need to purchase SWT. Changelly gives users the ability to quickly purchase SWT with their local currency, and then sends it to their Swarm City wallet. After a few minutes they can use the tokens to pay for services. No bank account is needed, just a credit card.
In the next phase of the Swarm City project, this service will be offered to Swarm City users from within the site (https://swarm.city). In the meantime, you may use Changelly and manually choose how you want to buy SWT.
Welcome to the City!
Written by: Bernd Lapp
Edited by: Matthew Carano