Crypto is one of the most popular financial assets.
But it remains obscure when it comes to real-world purposes.
SpacePay ($SPY) is a new crypto payment solution that tackles this challenge. It makes crypto payments effortless for token holders and merchants.
In this article, we will dive deeper into SpacePay and why it is one of the most promising crypto projects to enter the market this year.
SpacePay integrates with standard card machines to bring crypto transactions to the mainstream. The goal is to bridge traditional finance with the crypto market.
Cryptocurrencies are increasingly making their way to people. Youngsters, in particular, are more open to diversifying their portfolios to accommodate cryptocurrencies.
Their high volatility and turbocharged price action are behind the rising popularity of cryptocurrencies. Few traditional assets match their earning potential.
But the problem is that they are not easy to use in the real world. For example, you can’t go to your neighbourhood grocery store and buy bread using cryptocurrencies. Or pay for your gym membership with BTC. The ‘currency’ in cryptocurrency remains irrelevant.
Why is that?
Most crypto payment solutions fall short in user experience. The accessibility and usability challenges prevent merchants from taking the leap to crypto payments. They don’t want to sign up for hassles like payment delays and crypto volatility that could lead to losses.
SpacePay is a robust project that solves these problems. The project, currently in the private beta phase, sets new standards in the payment sector. For its revolutionary solution, SpacePay won the prestigious “New Payment Platform of the Year” award at the CorporateLiveWire Global Awards 2022/23.
Thanks to SpacePay, merchants, payment companies, and consumers can use crypto without any friction in their everyday life and business.
The fintech startup has focused on establishing its credibility right from the beginning. For example, SpacePay’s team actively engages with their community on Telegram, strengthening transparency and nurturing trust. Furthermore, SpacePay is committed to adhering to financial regulatory policies.
Based in London, the project is led by Maxwell Bunting. SpacePay stands out in the crowded crypto landscape with a fully public team.
SpacePay ensures a broad and compliant reach. It is committed to adhering to financial regulatory policies in operating countries. The project is set to make a significant impact by launching on over 4.5 million devices across nine countries this year.
As a shopper, you just need to scan a SpacePay QR code at a physical store or on an e-commerce site to initiate crypto payments. The result is instant transactions, ensuring a smooth and efficient payment experience every time.
Another huge advantage of SpacePay is extensive wallet compatibility. Most crypto payment solutions are limited to top cryptocurrencies like BTC, ETH, and SOL. Extensive support helps the product reach more merchants and shoppers.
It’s designed to be accessible to a large user base, supporting cryptocurrencies across 325 wallets, including popular ones like MetaMask, Trust Wallet, Coinbase Wallet, and Ledger Nano S.
SpacePay is offered to merchants at incredibly low costs to ensure faster market penetration. Users and payment companies, on the other hand, enjoy fee-free transactions.
The low technical and financial barriers will ensure that SpacePay reaches a wide audience in a short time.
Another concern that merchants often face when opting for crypto payments is volatility. To tackle it, SpacePay has implemented robust measures. Merchants can choose payouts in traditional currencies with SpacePay to stay shielded from rapid market fluctuations.
The full-fledged SpacePay ecosystem will be compatible with both online and offline merchants.
There are many crypto coins out there.
But how many of them have real-world relevance? Very few.
A large number of investors who hoard cryptocurrencies don’t have a clue what their market relevance is. That is the reason why most cryptocurrencies are mere speculative assets. Hype pumps and dumps them. They end up being fleeting sensations without any long-term presence. Meme coins and hollow DeFi coins are good examples of the hype-driven crypto market.
But utility coins are in a different league. They are backed by robust blockchain projects. From an investment point of view, their growth potential depends on the market relevance of the underlying product.
In that sense, SpacePay is a crypto to not miss this year. It gives meaning to the ‘currency’ in cryptocurrency.
The best investment gateway to SpacePay is the ongoing presale of $SPY tokens.
The altcoin comes with a revenue-sharing model that rewards token holders with passive income. It also unlocks access to exclusive features and beta versions, loyalty airdrops, quarterly connect webinars, and community voting.
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