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Cryptocurrencies don’t pay justice to the term ‘currencies’.
Not now, at least.
You can’t buy bread from your neighbourhood grocery store using crypto. You can’t shop online using crypto. You can’t pay for your gym membership using crypto.
Maxwell Bunting was frustrated by these challenges, like any crypto user. They stand in the way of the mainstream adoption of cryptocurrencies.
So he founded SpacePay ($SPY).
SpacePay is a new blockchain-based payment solution that has opened a radical new chapter in the history of cryptocurrencies. It makes the mainstream adoption of cryptocurrencies possible.
SpacePay: Crypto in Everyday Life
SpacePay makes safe and secure crypto transactions possible for merchants, payment companies, and consumers.
The fintech startup based in London bridges the traditional financial infrastructure with decentralised blockchain technology. It is on the path to becoming the decentralised, community-driven equivalent of Visa and Mastercard.
SpacePay is a decentralised, terminal-agnostic payment protocol embedded within card machines. Although the term sounds intimidating, SpacePay is highly user-friendly. It supports crypto transactions in retail environments.
For its innovative blockchain solution with real-world relevance, SpacePay was honoured with the “New Payment Platform of the Year” award at the CorporateLiveWire Global Awards 2022/23.
The user-friendly software integrates with existing card machines, allowing merchants to penetrate the new-gen crypto users. Over 325+ wallets are supported by the platform for day-to-day purchases, thus expanding its reach to a large customer base.
While crypto is often blamed for its high volatility, SpacePay has taken measures to tackle the problem. Merchants get payouts in their traditional currencies using SpacePay. Their risk factor is mitigated to a great extent, as a result.
Merchants also benefit from faster settlements and reduced fees by choosing SpacePay. ecommerce platforms and physical retail stores can seamlessly integrate the software into their traditional payment systems.
SpacePay is currently in the private beta phase.
This is How SpacePay Works
There are many crypto payment solutions. They do what they claim: enable crypto payments.
But that is not enough if the aim is the mainstream adoption of cryptocurrencies.
To achieve this goal, SpacePay brings a suite of features that make crypto transactions secure, seamless, and accessible.
The first is user-friendliness. Making payments using SpacePay is easy and fast. All you need to initiate transactions is to scan a QR code at the retail counter or ecommerce website.
SpacePay supports instant transactions, unlike existing payment systems that are known for delays and long processing times. There is zero waiting time on SpacePay.
Another drawback of existing payment systems is limited compatibility. They only support a few popular cryptocurrencies like BTC or ETH for transactions.
To tackle this, SpacePay is building a large network that supports a wide range of cryptocurrencies. It also supports 325+ wallets, including MetaMask, Trust Wallet, Coinbase Wallet, Ledger Nano S, and many more.
The next key highlight of the platform is cost-effectiveness. For merchants, the system is provided at extremely low costs. For users and payment companies, SpacePay is fee-free.
The SpacePay Revenue Sharing Model: Buy $SPY, Earn Passive Income From Platform Revenue
SpacePay is a community-centric project.
By holding $SPY tokens, investors don’t just benefit from its potential value appreciation over time. They also earn a share of the platform’s revenue as passive income.
Through the passive income mechanism, investors can tap into the platform’s growth and performance directly. Since the idea of passive income encourages long-term holding of the token, it mitigates sell-offs.
Especially in the early stage as the FOMO subsides, the revenue-sharing model will help the token maintain a strong price trajectory. It creates a win-win situation for both SpacePay and its community.
In addition, the token unlocks perks like early access to private features, betas and loyalty airdrops, voting rights, quarterly connect webinars, and more.
The $SPY Presale Window is Now Open
Investors have a time-limited opportunity to grab $SPY tokens for fixed, discounted prices before they make their way to crypto exchanges. SpacePay has raised around $750,000 from private investors already.
Due to its robust, compliant payment solution that integrates cryptocurrencies into traditional finance, SpacePay is predicted to be the next big crypto of 2024.
For a better perspective, the platform is estimated to launch on over 4.5 million devices across nine countries this year. SpacePay’s partnership announcements with the world’s largest card machine companies are much-awaited.
From an investment aspect, analysing the team’s credibility is crucial. The SpacePay team is public. While many crypto projects prefer to hide in anonymity, information about the SpacePay team and their roles are available on the white paper.
The team, including founder Maxwell Bunting, interact with the community on social channels. They address any questions and concerns that community members may have through SpacePay Telegram.
