How SpacePay and Its SPY Token are Shaping Modern Payments
The post How SpacePay and Its SPY Token are Shaping Modern Payments appeared first on Coinpedia Fintech News
SpacePay is changing how people use cryptocurrency to make payments.
The London-based fintech company is connecting the traditional banking system with blockchain technology, offering ways to solve challenges that have since plagued crypto payment systems, such as difficulty to access and lack of use for daily transactions.
The crypto project is working on ensuring using cryptocurrency for payments is as straightforward as using traditional money. SpacePay achieves this through its easy-to-use software that works with existing merchants’ machines.
This lets customers pay from over 325 different digital wallets while the merchants get their money in the traditional currencies they prefer.
SpacePay has been designed to be accessible and simple to use. Customers can pay with their preferred digital currencies anywhere SpacePay is accepted.
Addressing Industry Pain Points
SpacePay’s solutions tackle several issues that have hindered the widespread adoption of cryptocurrency payments:
SpacePay provides a solution to adoption challenges that have been a problem for crypto despite its growing popularity. Many have been discouraged from using crypto for basic transactions due to its complexity and being difficult to understand.
The crypto company is solving this by Integrating with existing payment systems, making it much easier for merchants to use and start accepting cryptocurrency without major operational changes.
Another way the crypto platform shapes modern payment is its low cost. It offers a low transaction fee of just 0.5%, which is much lower compared to other existing solutions that offer high costs and are even less effective.
The platform’s low fee structure makes it a great choice for businesses and encourages them to start accepting crypto payments.
SpacePay uses advanced encryption to secure users’ funds, making it harder for bad actors to steal money or access accounts without permission.
The platform’s prioritizing security challenges helps build trust and could foster the adoption of its solution.
Have you purchased the $SPY presale yet? If you haven't done so, now will be a good time.
Stage 2 has commenced already. You don't want to miss out on this opportunity to secure your $SPY.
Join us on Telegram for daily updates and 24/7 help from our team.pic.twitter.com/OwzZKd7l2x
— SpacePay (@SpacePayLTD) July 6, 2024
Improving Accessibility
The crypto platform allows users to choose from over 325 digital wallets, giving them great flexibility. Thus, crypto holders can benefit from the platform without switching wallets or moving their funds.
SpacePay has proven to be a good option for merchants, as it allows them to reach new customers without necessarily needing much technical knowledge.
The crypto platform’s feature of settling payments instantly allows merchants immediate access to funds, which is really helpful for retail outlets that need a constant flow of funds to keep them running.
Similarly, consumers enjoy the benefit of using their digital currencies for regular purchases, making their digital assets more valuable.
The platform supports various digital wallets and cryptocurrencies, so most crypto holders can take advantage of it no matter which digital currencies or storage options they prefer.
The SPY Token: Fueling the Ecosystem
The native token of the SpacePay ecosystem is SPY, which was developed to further attract users and grow the platform. The SPY token has several benefits and uses that create a strong and connected ecosystem.
The token rewards every active user of the platform via monthly loyalty airdrop, which helps to create a well-connected community.
It also has a governance system that gives the community power through voting. Hence, token holders have the chance to vote on important proposals once a month.
Moreso, the SPY token further incentivizes users by offering them access to special features and services. The team behind the project has also revealed that they will be implementing a revenue-sharing plan that could attract long-term holders and investors, further strengthening the SPY token community.
The ongoing presale serves as a low-cost and easy way to enter into the SpacePay community. The project has been able to raise over $270,000 so far with 1 $SPY selling at $0.00162 at this stage of the presale.
After connecting your wallet to the presale website, you can buy the SPY token with crypto options like ETH, AVAX, BNB, MATIC, BASE, USDC, and USDT.
You can also use your bank card. Buying the token early ensures you enter the project at the lowest value it might ever be.
Achievements and Future Outlook
SpacePay has achieved so much within the short period of its existence, which could be a sign that it has what it takes to shape the payment structure in the modern world.
They have raised $750,000 from private investors, showing the growing belief of people in their vision. They have also completed their Minimum Viable Product (MVP), a big step in their growth.
The crypto company also ensures full compliance with every regulatory standard when operating in different countries, further expanding its market reach.
It has also been awarded the honour of “New Payment Platform of the Year” at the 2022/23 CorporateLiveWire Global Awards, showing that SpacePay has an innovative approach and is a leader in the industry.
