Use Your Crypto Like Cash, Only Better with SpacePay: What You Need to Know
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Bitcoin and other crypto assets are increasingly used as payment methods across many industries in 2024.
SpacePay, a fintech startup based in London, stands out by making it possible for seamless crypto payments at the point of sale. Just like that, you can pay for your coffee, and bread with the crypto asset of your choice.
The platform offers convenience, security, and cost-efficiency, making it a key player in the advancing payment solutions sector.
SpacePay ensures merchants and individuals can send and receive payments in their local currency. This avoids worries about crypto value fluctuations. It’s like having a specialized cashier who handles crypto transactions with the same ease as credit cards.
The Rise of Crypto Assets in Everyday Transactions
Businesses across various sectors are adopting crypto assets for payments. According to a tweet by SpacePay’s official X account (@SpacePayLTD), PayPal allows users to buy, sell, and hold Bitcoin, facilitating its use in everyday transactions.
In 2024, Bitcoin and cryptocurrencies will continue to gain traction as viable payment methods across various industries, offering convenience and innovation in transactions.
pic.twitter.com/g3fCF35UNi
— SpacePay (@SpacePayLTD) July 11, 2024
Microsoft accepts Bitcoin for its services and products, showing growing acceptance in the tech sector. Overstock.com has long accepted Bitcoin, demonstrating adaptability in the retail industry.
Expedia accepts Bitcoin for flights and hotels, highlighting a shift in the travel industry. AMC Theatres accepts Bitcoin for movie tickets, marking a huge move towards crypto adoption in mainstream entertainment.
Discovering where to spend Bitcoin is now easier. Many businesses welcome crypto assets, making it a viable payment method for enthusiasts.
SpacePay’s Innovative Features
Ray (@BoyWeb_3), a crypto enthusiast, tweeted about the advancement of payment solutions and highlighted SpacePay’s innovative approach. SpacePay offers multiple features that make it attractive for both consumers and merchants.
𝗘𝘃𝗼𝗹𝘃𝗲!
That's the only way to keep on growing in your business or whatever brand you're building.
We've witnessed the evolution of payment solutions and how they've drastically changed the narrative of things.
But recently, @SpacePayLTD is acting as an outliner.
— 𝗥𝗔𝗬
(@RayWebb_3) July 6, 2024
The app supports various cryptocurrencies, providing flexibility for users to pay in their preferred currency. It ensures instant settlement of transactions, making payments quick and seamless.
Despite crypto volatility, merchants receive payments matching the crypto’s worth in local currency, thanks to SpacePay’s volatility protection mechanism.
The app is compatible with over 325 wallets, including Coinbase, Metamask, and Trust Wallet, ensuring cost-effective and seamless transactions.
The $SPY token is central to the SpacePay ecosystem. It offers loyalty airdrops, voting power, early access to features, revenue sharing, charitable donations, and quarterly connect webinars.
With a total supply of around 34 billion SPY tokens, the distribution includes public sales, user rewards, development, founders, strategic partnerships, marketing, and a reserve fund.
Milestones and Achievements
SpacePay has raised $750,000 from private investors and reinvested in growth through a buy-back option. The project complies with regulatory rules, enabling broader market reach.
They’ve completed a minimum viable product and are obtaining intellectual property to secure their market position. SpacePay won ‘The New Payment Platform of the Year’ at the CorporateLiveWire Global Awards 2022/23.
Moreover, SpacePay is in a presale round with over $250K raised. The platform offers augmented convenience and accessibility, making it easier for individuals and businesses to accept and make payments without needing specialized knowledge or equipment.
By converting cryptocurrencies to fiat currencies instantly, SpacePay enables the acceptance of crypto payments across various businesses and services.
Security and Cost Efficiency
SpacePay uses blockchain technology to secure transactions, providing a higher level of security than traditional payment methods. It protects users’ financial information from fraud and cyberattacks.
Moreover, the platform also allows for a degree of anonymity and privacy in transactions, appealing to those concerned about personal data protection.
Compared to traditional banking fees and exchange rates, SpacePay offers savings, especially for cross-border payments. Its ability to bypass traditional banking networks results in lower fees and faster processing times.
Users can convert their crypto holdings to fiat currency instantly at competitive rates, minimizing exchange rate fluctuations.
Flexibility and Environmental Sustainability
SpacePay operates around the clock, providing users with the flexibility to make transactions anytime, anywhere.
Users have direct control over their assets, managing their finances effectively, including holding, transferring, and investing their money according to their preferences.
The platform’s transactions can have a smaller carbon footprint compared to traditional banking systems, aligning with consumer demand for financial services that are environmentally friendly.
SpacePay supports various crypto assets, including Ethereum, BNB, Polygon’s MATIC, Avalanche, BASE, Tether, and USDC.
Conclusion
SpacePay offers a new approach to transactions through crypto, aiming to make them more accessible for use daily. The platform combines elements of traditional payment methods with digital currency technology, addressing some common concerns about using crypto for purchases.
Users and merchants interested in crypto may find SpacePay’s features helpful for managing digital coin transactions.
The system focuses on improving aspects like transaction speed and reducing costs, which have been obstacles for wider crypto adoption.
All in all, with crypto becoming more common, platforms like SpacePay are working to integrate them into regular financial activities. While challenges remain in the crypto sector, simplifying transactions could contribute to broader acceptance over time.
SpacePay represents one of several attempts to bridge the gap between conventional payment systems and cryptos. Its impact on the future of payments will likely depend on ongoing developments in technology and regulation and the team’s commitment to the project.
That said, what we’ve seen so far from them looks promising.
