Cryptocurrencies face challenges for daily use, including price volatility, high fees, and slow speeds, with no lasting solutions yet. Stablecoins were created to reduce price swings and make it easier to send crypto money between people.
However, they are still usually affected by some common issues like network outages, high fees, and the need for users to convert cryptos to stablecoins before making payments.
These issues have also limited the use of stablecoins; although they solve part of the problem, they are not as efficient as needed for widespread crypto adoption.
How Does SpacePay Solve These Issues?
SpacePay’s solution goes beyond what stablecoins offer. The platform allows people to transfer money from various kinds of cryptocurrencies, including popular options and many more.
Users don’t need to transfer their entire portfolio to a specific cryptocurrency to achieve price stability. Instead, they can simply transfer the assets they already hold to the merchants, who will receive the payment in their preferred fiat currency.
For example, if a customer pays with Bitcoin and a merchant prefers to receive the money in USD, the merchant will receive the paid BTC in the equivalent amount in USD. This way, they will not be affected by a sharp change in the value of the amount received for the transaction.
This method is efficient for both customers and merchants. Customers don’t have to transfer funds from one account to another, and merchants don’t have to quickly withdraw funds out for fear of a change in value.
SpacePay Is Easy to Adopt for Everyday Use
SpacePay makes its solution even easier to use by integrating with more than 325 payment wallets, including popular and less popular options. This means users won’t have to download or buy new payment systems to use the SpacePay service.
The solution also works with existing payment and POS machines, making it easy for every business to adopt it.
Many popular cryptocurrency options can be complex to navigate. Each platform has its own unique features, which can discourage those accustomed to traditional payment systems from making the switch.
With SpacePay, users only have to scan QR codes to make payments. This makes it an easy and efficient solution for various business types.
Also, SpacePay merchants enjoy instant settlement with no waiting time for transactions. Many traditional payment systems have delays and processing times, but SpacePay solves this by ensuring that transactions are settled immediately, providing a seamless payment experience.
Speeding Up Crypto Adoption
As mentioned earlier, implementing the SpacePay solution is expected to accelerate the adoption of cryptocurrency among businesses. Once this process begins, the token is anticipated to be the primary beneficiary, as it serves as the platform’s native token.
The SPY token offers incentives, voting privileges, and early access to new features before they are available to the public.
SpacePay has achieved several milestones within its short time of operation. It has raised over $750,000 from investors, showing their trust in the platform.
The project has completed its Minimum Viable Product (MVP) and is in the private beta phase.
SpacePay has also been able to fully comply with regulatory standards in various regions. This enables its operation in all sanctioned nations, spreading its reach globally.
SpacePay won the “New Platform of the Year” award at the CorporateLiveWire Global Award 2022/23, which shows its recognition as an industry leader. This could also be a sign of many things to come.
This positive development could indicate how well the SpacePay platform could perform in the short and long term. Therefore, it could be worth paying attention to the token.
Investors recognize the potential effect this could have on the token, which has led to significant accumulation in the ongoing presale. So far, SPY has been able to raise more than $420,000 in presale as investors want to accumulate as much as possible at the potentially lowest price before the end of the presale.
One SPY token is currently selling at $0.00191, and the price will continue to increase at different stages of the presale. Users can buy tokens with ETH, USDT, USDC, BNB, MATIC, and AVAX. There is also an option to use a bank card.
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