When it comes to new forms of payment systems, people have often looked at the alternatives in an indifferent manner. Unable to accept change, they have often set them aside, wanting to focus on other comfortable modes.
That’s where SpacePay wants to make things simple for anyone. Borrowing from both the Web2 and Web3 side of the ecosystem, this new cryptocurrency project aims to make crypto payment systems more accessible. In other words, it is trying to become a payment system that benefits all.
Creating a Terminal-Agnostic Solution through Blockchain
SpacePay does not tailor hardware to provide solutions to existing blockchain challenges. Introducing new peripherals can create problems, especially when there is no compatibility with existing solutions.
SpacePay addresses this issue by providing a terminal-agnostic interface. This application can interact with traditional card systems as well as over 325 cryptocurrency wallets. By providing a familiar environment for users of traditional payment systems and accessibility to blockchain users, it can bring both ecosystems together.
Features of SpacePay That Benefit All Within the Blockchain Economy
Listed below are some of the key attributes of the SpacePay ecosystem that could be of benefit to all in the crypto economy.
Multiple Cryptocurrency Options
One of the biggest roadblocks people have faced when it comes to paying using crypto is the limited number of options available. While there is no denying that standard Bitcoin, Ethereum, and other options continue to be popular, there should be some room for meme coins and low-cap tokens as well.
These are accessible tokens and can be equally valuable to the crypto economy. That is why SpacePay allows users to use multiple forms of crypto during payment.
Settling Payments Instantly
Traditional payment systems are often subject to delays and high processing times that often create issues for transactions. With SpacePay, however, the promise is to settle the payments as quickly as possible so that customers don’t have any issue going about their day and merchants can get paid quickly and without any hassle.
Support for Over 325 Wallets
Since SpacePay does not opt for any hardware-based solution, it is not limited to a single wallet. One of the greatest perks of it being terminal-agnostic is that most of the popular wallets, whether it is Trust Wallet, Best Wallet, Coinbase Wallet, or even Ledger Nano S, can integrate with it.
This is essentially a way to turn an otherwise overly complex peripheral into something simple. With payment being done in the same way as the traditional method – QR code – it makes it easy for people to accept crypto payment options.
Volatility Protection
Crypto prices don’t stay the same for long, which is the main reason why merchants are apprehensive about accepting them. With SpacePay, however, there is built-in volatility protection.
This is a simple method that involves transferring crypto based on an agreed-upon fiat value. This way, if the value of an asset changes while the transaction is happening, the merchant won’t suffer any loss.
SPY Token – Further Enhancing the SpacePay Ecosystem
Central to the SpacePay ecosystem is the SPY token. This is an ERC-20 asset with robust benefits that make SpacePay a suitable investment for both the long and short term.
First of its many perks is the loyalty airdrop. Fashioned as a standard benefit, this utility offers additional SPY tokens to those who interact with SpacePay daily. Here, the term interaction could mean using the SpacePay app for daily transactions or contributing to SpacePay social media.
Secondly, SPY is a DAO crypto, which means it is instrumental in making the community the control unit of the ecosystem. As a result, those who hold SPY will decide how the SpacePay token grows in the future.
Early access to special features is also offered to those who use the SPY token. These features are not yet named, but since SpacePay is designed to be modular, more developments could come in the future.
Another way the SPY token is being used is for revenue sharing, which means users can earn passive income from the ecosystem by holding the asset. As the platform’s ubiquity grows, so will the token’s value. In the end, this could provide long-term benefits for all parties involved.
SpacePay Presale Raises Over $800K
People are continually talking about what SpacePay has to offer, which has resulted in the project raising more than $800K to date. With a $1 million target getting closer, it is likely that 2025 will be the year when this utility crypto gets known.
Final Words
The world is in dire need of a better crypto economy. However, it could only benefit through accessibility. That is where SpacePay is shining through as an inclusive project. And with the SpacePay presale generating so much interest, investors looking for long-term gains should consider investing.