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Amidst the present market volatility, SpacePay has been increasing its presale fundraising even as the prices of key cryptocurrencies were falling.
Since its introduction, the project has so far raised more than $410,000 through its presale. And remember, this was raised during the market downturn, and we are looking at, hopefully bullish, Q4 now.
Let us examine the key characteristics of SpacePay and the product it provides to the cryptocurrency community.
Ultimate crypto payment solution
SpacePay is a cryptocurrency payment solution company. The project’s solution enables the connection between conventional financial services and blockchain.
Despite their various advantages, cryptocurrencies have yet to gain widespread acceptance as a daily payment option. Several difficulties prevent it from being used in routine transactions. SpacePay offers a clear solution.
The project’s software readily links to current card machines, allowing shops to accept cryptocurrency. SpacePay accepts payments from more than 325 wallets.
SpacePay also tackles some of the common concerns associated with blockchain technology. Here’s how the project contributes to minimizing these issues:
Solving major crypto payment issues
Although blockchain technology has contributed to alter the present financial sector, it still faces a number of obstacles. One of the most major hurdles is the lack of broad acceptance, as mentioned above.
Consumers and retailers are unable to fully adopt crypto due to the absence of knowledge, volatility, and technological limitations. The present payment system couldn’t find a way to combine cryptocurrency and fiat.
One of the main difficulties confronting blockchain technology at the present is the hefty fees required by various cryptocurrency payment service providers.
Many people are discouraged by these high costs since users will be hesitant to pay with cryptocurrency and retailers will be unable to accept it.
Most of these kinds of crypto payment methods are also excessively centralized, which weakens the very concept of decentralization.
Additionally, users must deal with concerns such as settlement delays and a lack of ability to manage enormous transaction volumes. The centralized payment system is not without flaws, including privacy problems, a lack of transparency, and security risks. Users also have limited control over their finances.
What does SpacePay offer?
SpacePay provides a software solution that can be implemented into card machines. This connection allows crypto transactions to be done in the retail sector on a daily basis.
The system provides a payment option with cheap rates, which benefits both customers and retailers. For customers, the integration supports over 325 wallet service providers, allowing them to spend from any of the popular cryptocurrency wallets.
Additionally, retailers do not need to invest in expensive machines because the software is simply integrated with existing card machines. Users can pay for free, but businesses are charged a 0.5% fixed processing fee, which is far lower than other payment methods.
SpacePay’s continuing presale generated more than $410,000. At the moment, the SPY token costs $0.00191, and it is simple to buy with ETH, USDC, USDT, or a card. All you have to do is use Coinbase, Wallet Connect, or the Best Wallet to connect to their website.
This token is used to facilitate transactions with the goal to help SpacePay become a decentralized alternative to traditional payment processors like VISA and Mastercard.
The project has raised $750,000 from private investors. Also, they won the industry award for the ‘New Payment Platform of the Year’ at the Corporate LiveWire Global Awards 2022/23.
SpacePay aims to make using cryptocurrency for regular payments easier. The project’s payment mechanism is unquestionably a lifesaver for people who want to use cryptocurrency for simple, everyday payments.
JOIN THE SPACEPAY (SPY) PRESALE NOW
