SpacePay is on a mission to make crypto as popular as cards. A future where we pay for coffee with BTC or DOGE may not be distant.
The presale of SpacePay’s SPY token just hit the $500,000 milestone.
The London-based fintech project is building a practical payment solution that could bring crypto into everyday shopping.
SpacePay simplifies crypto for retail
SpacePay has an ambitious goal––to justify the term ‘currency’ in cryptocurrency. A future where we pay for daily lunch or monthly gym membership with crypto may not be distant.
While crypto payments can give businesses an edge, technological challenges often prevent them from reaching this new audience. Existing crypto payment solutions are clunky.
There are volatility risks to factor in too. It won’t be sustainable if a business accepts payments in, say, Dogecoin, only to watch its value plummet 30% overnight.
SpacePay addresses these concerns. It is easy, secure, and affordable.
Compatible with existing POS systems
Convenience is key to mainstream adoption, and SpacePay understands this. Businesses don’t have to buy new hardware or overhaul their existing payment systems to start accepting crypto. The Android terminal-agnostic APK integrates directly with traditional Point-of-Sale (POS) systems.
That takes upfront equipment costs out of the equation. Retailers can get started with SpacePay quickly.
A QR code scan allows customers to complete crypto payments right at the checkout. With near-field communication (NFC) technology, payments are safeguarded for both merchants and shoppers. Robust security measures are implemented in each stage of the transaction.
What about volatility?
SpacePay supports over 325 wallets and a wide range of cryptocurrencies. That translates to impressive flexibility for crypto users.
How are businesses going to deal with these assets that are prone to massive price fluctuations? They receive payments in a local fiat currency of their choice. Not crypto.
They also enjoy instant settlement and zero waiting times. That underscores the advantage of choosing crypto payments over traditional payment systems, which often involve long processing times.
Retailers don’t have to worry about crypto price fluctuations, as a result. It empowers both businesses and shoppers to embrace crypto.
The platform is completely free to use for shoppers. Businesses are charged a low transaction fee of 0.5%. Payment companies pay no integration costs.
Tangible achievements back the vision
Crypto investors are used to waiting indefinitely for concepts to turn into products after a presale.
SpacePay’s MVP is already in beta.
The proactive development has helped SPY win the trust of early investors, as the presale numbers show. Prior to the public presale, SpacePay raised $750,000 in its private presale.
SpacePay recently reinvested in its project growth through a buy-back option. It reinforces the commitment to future development.
A focus on regulatory compliance is another factor that establishes SpacePay’s credibility. As per the white paper, it plans to enable operation in unsanctioned countries.
This could ensure a broad and unrestricted market reach, and potentially drive demand for the token through utility. The team is now working to secure Intellectual Property to establish its foothold.
SpacePay earned the 'New Payment Platform of the Year' title for 2022–2023 from CorporateLiveWire Global Awards.
The project has built a substantial social media following in a short time. The Telegram channel has over 5000 members and the X (Twitter) community is closing in on 60,000 followers.
How to buy SPY?
The SPY presale is still live on the official website, and supports purchases in ETH, USDC, USDT, and fiat cards.
It is the best gateway for investors looking to enter the project at low costs. However, the presale price increases with each new stage. Early birds secure the best price deals.
After the presale sell-out, there are plans to list the token on major crypto exchanges. Tokenomics breakdown can be seen below:
Exclusive perks await token holders. This includes voting rights and access to quarterly webinars with the leadership team. The platform also plans to launch a revenue-sharing model where token holders can earn passive income tied to platform growth.
With another crypto bull cycle ongoing, SPY is a top altcoin to watch. In a market full of speculative assets, it stands out with a market-relevant utility.