October 28, 2019 – Non-custodial wallet SparkX, a product of Sparkpoint Philippines, has integrated instant exchange Changelly, allowing users to convert coins within the SparkX wallet.
In a blog post, SparkPoint addresses a common pain point when it comes to purchasing cryptocurrency – performing basic transactions. That means buying crypto in exchange for another crypto. But while conversion is readily available in most wallets, most of the time there is limited token support. For example, one wallet might only support conversion for 2 or 4 cryptocurrencies and that’s it.
The partnership with Changelly provides a platform where users can exchange Bitcoin to more than 150 other cryptocurrencies to and from the Sparkpoint wallet. Eric Benz, CEO of Changelly said in a statement that they are excited for this partnership with Sparkpoint. He said:
“The security and privacy components behind SparkX provide peace of mind to its users, and this is merely one of the differentiating factors that separate Sparkpoint from other wallets available in the market.”
But why partner with Changelly instead of having a conventional custodial exchange inside SparkX? Sparkpoint said Changelly gives users “a quick and easy instrument to exchange their assets.” Changelly will act as the intermediary between the exchange and the user and thus the process will reduce the risk of thefts from hack and fraud.
However, Sparkpoint’s own token – “SRK” – is not available for swapping via the Changelly feature. Sparkpoint also said it plans to create its own exchange after complying with all regulatory requirements.
SparkPoint is an application composed of a cryptowallet (SparkX), gaming platform (SparkPlay), e-commerce store (SparkPlace), and e-learning resources (SparkRoom). Because it is non-custodial, SparkPoint claims it does not store any user information on its servers.
This article is published on BitPinas: PH-based Sparkpoint Wallet Now Powered by Changelly