Crypto transactions are faster and more cost-effective than traditional payment methods. There’s no intermediary or bank to question or process the transactions.
However, the acceptance of cryptocurrencies for daily transactions can be challenging due to their volatility. This is where SpacePay comes in with its solution. How does it address this problem? Let’s find out.
What is SpacePay?
SpacePay is a software solution for digital asset payments. The project aims to bridge the gap between the traditional financial system and blockchain technology.
To achieve this, SpacePay offers a software solution that enables businesses to integrate cryptocurrency payments into their current card readers. Consumers can now make everyday purchases using digital currencies from over 325 wallets.
SpacePay seeks to resolve some of the fundamental challenges currently affecting the traditional payment business. Security risks, privacy concerns, and lack of transparency are among the most common issues with centralized payment systems.
This is because traditional payment systems prioritize convenience over speed, security, and privacy. As a result, users are exposed to risks like data breaches and identity theft. Additionally, centralized systems lack transparency, leaving users with little control over their finances.
Nevertheless, retailers are hesitant to accept cryptocurrencies. This hesitation stems from technical barriers, volatility risks, and a lack of awareness about the benefits of cryptocurrencies. Although some payment options support crypto, they are usually limited to a few coins.
SpacePay’s Solution for the Community
To overcome these challenges, SpacePay has introduced its payment system, catering to both users and merchants. SpacePay connects individuals to over 325 wallet providers.
This enables users to spend cryptocurrencies at any merchant who has integrated SpacePay. For merchants, SpacePay offers a cost-effective platform, charging just 0.5% per transaction—significantly lower than the fees imposed by major payment systems.
Additionally, SpacePay ensures fast processing with no waiting time, as the platform guarantees instant payments. Another major issue SpacePay addresses is volatility.
Cryptocurrencies are notoriously volatile, but SpacePay has a volatility protection system. This system automatically converts cryptocurrency into the merchant’s fiat currency to prevent sudden price fluctuations.
Successful Ongoing Presale of Native Token
The SpacePay project has achieved several milestones in a short period.
It secured $750,000 from private investors and effectively reinvested in its growth through a completed buyback option. SpacePay also meets regulatory standards.
Furthermore, SpacePay won the "New Payment Platform of the Year" award at the CorporateLiveWire Global Awards 2022/23. The project's presale is ongoing and has already raised over $400,000.
To purchase SPY tokens and be part of this project, all you need is a compatible wallet like Coinbase, Best Wallet, or WalletConnect. You can buy SPY by linking your wallet to the website—just ensure that you have ETH, USDC, or USDT in your wallet.
The SPY coin is the backbone of the SpacePay platform. The token plays a crucial role in the ecosystem, offering incentives for user participation while serving various other purposes.
SPY token holders are included in monthly loyalty airdrops for the most active wallets. Additionally, token holders are granted voting rights, allowing them to vote on important ideas, new features, and token-related decisions once a month.
The total supply of the token is capped at 34 billion, with 20% reserved for public sale. 17% of the tokens are allocated for rewards and user loyalty.
Moreover, 10% is reserved for development, 5% for the founders, and 18% for partnerships and marketing. The remaining 12% is allocated to reserve funds.
Stay up to date with the project’s progress by following its social media accounts.
