SpacePay is a crypto project removing the current roadblocks to blockchain adoption by making transactions easier. A crypto ecosystem that takes an inclusive approach toward payments, SpacePay has raised upwards of $600k in its presale round, with more and more investors turning up every day.
This promise of making blockchain payments part of daily life is a promise we have heard many times. What does SpacePay do differently that’s causing investors to move toward it?
Since the very first time blockchain technology was revealed, the promise was to revolutionize the global economy. While it has done so to some extent, the technology has not achieved wider adoption yet.
The technology itself is costly, with gas fees sometimes even higher than the transactions themselves. Delays in payments are another reason, as some blockchain tech has become outdated. Additionally, the fact that most of the blockchain is still beholden to a decentralized system means there is an immense lack of transparency, driving away those who are already sceptical about this technology.
SpacePay offers solutions by understanding and acknowledging these shortfalls, and it works to make crypto payments more accessible by addressing each shortfall properly.
Card machines are the mainstay of the modern digital economy. This technology has altered how people use their money as it evolved from accepting just cards to QR codes, making transactions more hands-free.
Those codes are the basis of how SpacePay works, allowing people to buy products by spending money from their crypto wallets. SpacePay, which is interoperable with over 325 wallets, will allow users to use these QR codes and spend their crypto.
This approach has a two-pronged benefit: one for the customer and another for the merchant. Customers will have an easy time spending their crypto using a familiar solution, a fact that could push more people to integrate crypto into their daily lives. Merchants, on the other hand, will be able to adopt crypto solutions easily and engage with more customers while getting faster settlements.
SpacePay also comes equipped with volatility protection, ensuring that merchants are paid the appropriate amount if a crypto price changes during transactions. For instance, if a customer spends 2 SOL to buy a product, and SOL is valued at $200 before the transaction and $100 during it, SpacePay would transfer 4 SOL instead to ensure that the payment matches the agreed-upon price.
SpacePay tackles the cost and centralization issues by providing a decentralized and scalable solution. Each transaction will only have a 0.5% transaction fee. Furthermore, users won’t have to pay extra, and payment companies won’t have to pay any integration costs.
Being a terminal-agnostic solution, SpacePay can easily be integrated with most known payment applications. This approach will expand its adoption rate, and people won’t be too intimidated by what SpacePay has to offer.
At the heart of SpacePay lies the SPY token. An ERC-20 asset, this crypto is the key to generating more gains from the SpacePay ecosystem. Not only will it allow investors to get a share of the revenue that SpacePay generates, but it will also give voting power, early access features, and loyalty airdrops.
The token will also play a role in giving users voting power, allowing them to have a say in the direction SpacePay’s growth takes. Charitable donations will also be made, and quarterly webinars will be held to keep SPY speakers informed of developments in a more upfront manner.
Furthermore, SpacePay has recently announced that staking is coming, which will make it an even more viable investment for long-term traders.
The combined impact of an inclusive payment solution and broader market conditions has allowed SpacePay to become a front-running asset in today’s crypto market. Over $600k has been raised by the project so far, with more investors turning up every day.
What does this say about the SPY price in the future?
If we compare it with existing payment solutions, SpacePay appears to be the most aware of the public’s needs. Its ability to venture into the familiar territory of card machines shows it is trying to tackle accessibility issues first, while offering transparency and decentralized solutions can transform it into one of the best cryptos on the market.
To participate in such a high-potential project, we recommend taking the following steps to get started:
It is also a good idea to keep tabs on more updates coming from SpacePay by following social media accounts. Website | Twitter | Telegram
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