What is SparkPoint and how to exchange SRK
SparkPoint

SparkPoint

 SRK

SparkPoint Technologies or simply “SparkPoint” creates an ecosystem that offers an innovative alternative payment platform that seeks to educate users on financial literacy and satisfy their craving for entertainment at the same time rewarding them for using the platform. The SparkPoint crypto (SRK token) brings convenience for users in the market in terms of paying for utilities, making online purchases, paying for transactions and licenses, etc. The ecosystem has many segments, which we will be discussing shortly as well as the way to make your SRK swap profitable.

What is SparkPoint?

SparkPoint is an ecosystem fostering cryptocurrency adoption through its blockchain platform. To achieve its goal, the company came up with the SparkPoint Wallet and blockchain games through SparkPlay. There is a blockchain-based e-learning program known as SparkLearn.

SparkPoint was established in 2018 and they had less than $50,000 in funds when they started the project. There was no ICO for the SRK token, which explained why they have such a meager fund to start with. Nevertheless, the company expanded exponentially in team members, and their SRK token is continuously increasing in market value while adding more products and features to their ecosystem.

The native token of the SparkPoint ecosystem is SRK. There’s another one for their decentralized finance (DeFi) platform, it’s SparkPoint Fuel (SFUEL). SRK token is an Ethereum-based token while the SFUEL is based on the Binance Smart Chain (BSC). Last year, SparkPoint have launched their DeFi platform dubbed as SparkDeFi. It is here that SFUEL plays a prominent role as a governance token for the platform.

The team behind SparkPoint

The brain behind the SparkPoint project is Andrino Agnas who is a Philippine-based crypto investor and a certified public accountant. He is presently the CEO of SparkPoint technologies. Another member of the team is Rico Zuñiga who is the CTO of the company. Rico has extensive knowledge of the tech industry spanning over 16 years, which makes him one of the pioneers of the blockchain tech startup sector in the Philippines. In 2018, SparkPoint was just a 2 team-members company and now it has grown in strength to reach 17 full-time and 5 part-time staff in the first quarter of 2021.

Key features of the project

The key features of the project lie in its unique ecosystem that includes many segments discussed below:

SparkPoint Wallet

The SparkPoint Wallet is a non-custodial mobile wallet that supports several cryptos like the SparkPoint SRK, BTC, BNB, ETH, ERC-20, and BEP-20 based tokens. There are built-in DEXs, which include Changelly, ChangeNOW, and Uniswap. The company has also applied for a Virtual Currency Exchange license that will allow the SparkPoint Wallet to integrate fiat currencies into its mobile wallet in the future.

SparkLearn

This is the e-learning feature of the SparkPoint ecosystem that concentrates on educating users about financial literacy, cryptos, and blockchain technology in general. SparkLearn presently provides free courses on the listed topics above. The e-learning platform is constantly improved upon via UX/UI improvement, incorporating a Learn-to-Earn model, and introducing new mentors on the platform.

SparkPlay

This feature provides a range of crypto-infused mobile casual games and there are presently games like Crypto Shooter, Crypto Slicer, Crypto Burst, and Crypto Shooter available on the SparkPlay platform. The SparkPlay platform employs a Play-to-Earn gaming model where tournaments and achievement bounties are given out regularly.

SparkEarn

This feature allows users to earn SRK and other bounty tokens from sponsors through the rewards and referral program. Users just need to carry out simple bounties to qualify for these goodies. Users can also use their SparkEarn accounts as a single sign-on account for other SparkPoint features in the ecosystem.

SparkDeFi

The DeFi platform of the company, SparkDeFi, provides an Automated Maker Market (AMM) decentralized exchange, a token bridge for ERC-20 SRK to SRKb BEP-20 token on the Binance Smart Chain (BSC), P2P borrowing and lending, pool-based staking, liquidity, and DeFi assets protocols management in a secure, interoperable, transparent, seamless manner. The SparkDefi platform uses a governance token called SFUEL.

What is SRK coin?

SRK is the native utility token of the SparkPoint Ecosystem ans was launched on the Ethereum network on March 14, 2019. It serves the following functions:

  • Rewards for Liquidity Providers and Stakers
  • Payment for SparkPoint IT-BPO services
  • Rewards for users who have completed bounties tasks in SparkEarn
  • Prizes in SparkPlay tournaments and achievements
  • Payment for SparkLearn courses
  • Payment for SparkPlay game NFTs

The initial total supply for the Spark Point cryptocurrency was 20 billion. However, several burning of SparkPoint tokens has cut down the total supply to 13,738,498,193. The quarterly burning of SRK tokens will continue until it reaches the final fixed maximum volume of 10 billion SRK tokens.

20% of the original total supply of 20 billion was shared among those that participated in the private sale of the SparkPoint crypto. 7% was reserved for airdrops and marketing campaigns, and another 10% was allocated for community development. There was a minimal amount reserved for sale to prevent any case of sudden price fall of the SparkPoint coin. A 38% majority of the SRK token was reserved for the development of the SparkPoint ecosystem and the majority of the burned tokens comes from this percentage.

SRK swap: How to exchange SparkPoint cryptocurrency?

This is how you perform SRK swap on Swapzone with any of the listed pairings like Bitcoin (BTC), Ethereum (ETH), or any other crypto that is acceptable.

  • Visit Swapzone and select the SRK swap you want. Ensure you know the exact amount of SparkPoint coins you want to buy.
  • Select the ETH to SRK pair, BTC to SRK pair, or any other SRK pairing from the list of tokens. Swapzone will pull up all the SparkPoint SRK exchanges.
  • Input the number of SparkPoint cryptos you want to exchange, then you can select the SRK exchange that suits you by clicking on the “exchange” button.
  • Input the address where you want to receive the SRK crypto.
  • There is also an option for a refund address, which is the address where the asset you are swapping for SRK will be refunded to incase of any issues.
  • Click on the “proceed the exchange” button to carry out the SRK swap.
  • Take your time for leaving a review and rating the exchange. We care for making it better and would love to hear about your experience.

Popular pairs to convert SparkPoint

Frequently asked questions

What is the SparkPoint exchange rate?

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An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.

There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.

Where to find the lowest transaction fees?

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Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.

If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.

What is average transaction time?

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Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.

The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.

The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.

How to choose a cryptocurrency wallet to store SparkPoint?

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To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.

There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.

If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.

What is the best cryptocurrency exchange for beginners?

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There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.

To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.

What is Swapzone?

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Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.

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