One of the biggest problems currently facing the cryptocurrency ecosystem is its lack of seamless connectivity with the world of traditional payments. While there are several platforms that bridge the gap between centralized and decentralized finance, the bridge is shaky at best and hampered by inefficiencies.
SpacePay is a revolutionary cryptocurrency payment software solution designed to transform the way people transact in the digital age. The platform aims to bridge the gap between traditional payments infrastructure and the decentralized world of blockchain technology by addressing the main obstacles facing the cryptocurrency ecosystem. Let's take a closer look at the issues hindering the widespread adoption of blockchain technology.
Inefficiencies in decentralized finance Uniting centralized finance
Without a doubt, Blockchain technology has transformed finance and other multi-billion dollar industries globally. However, its integration into the payments sector encounters numerous obstacles, such as:
- Volatility: The inherent fluctuation in cryptocurrency values โโhas caused merchants to be hesitant to accept them as a payment method. Concerns arise from the possible impact on revenue due to rapid price changes.
- High prices:Current crypto payment solutions often carry high fees, discouraging users and merchants and resulting in low transaction volume and user engagement.
- Long transaction times: Transaction times for current cryptocurrency payments range between 5 and 30 minutes, which significantly exceeds those of conventional payment systems. This delay has been a major barrier to the widespread acceptance of cryptocurrency payments among merchants due to their non-scalable nature.
- Lack of accessibility: The lack of widespread availability of cryptocurrency payment options makes adoptions even more difficult. Traders often face problems related to technical complexities, volatility risks, and lack of awareness.
SpacePay aims to provide a decentralized solution to these problems, not only solving these problems, but bringing a new level of connectivity and accessibility.
SpacePay as an all-in-one crypto solution
SpacePay features a decentralized, terminal-agnostic payment protocol designed for integration with card machines, allowing merchants to process cryptocurrency transactions in retail environments without exposure to volatility risks. Its payment APK supports over 325 wallets, giving customers the flexibility to make payments from their chosen cryptocurrencies using their preferred cryptocurrency.
SpacePay offers a cost-effective and efficient solution, reducing transaction fees for merchants and eliminating all payment costs for beneficiaries.
Here are some notable features of SpacePay:
- Target a wide spectrum of users: SpacePay's decentralized platform allows users with any wallet to make payments through its payment APK, effectively removing a major barrier to entry for both merchants and users, and targeting a wide range of users.
- Scalable payment infrastructure: SpacePay has created a scalable payment infrastructure with its terminal-agnostic payment APK, enabling seamless integration across all card machines without incurring costs for payment companies or acquirers. This approach removes a major barrier in the payments space that other companies have previously introduced.
- Cost effective and efficient: SpacePay offers a cost-effective and efficient payment system, charging a minimum merchant transaction fee of 0.5% per transaction while eliminating all fees and costs for payment companies and recipients, benefiting both consumers and to merchants.
SpacePay offers a variety of features that are not limited to the benefits mentioned above. For example, the platform allows users to transact in multiple currencies, offers instant settlements, provides volatility protection, and is compatible with most crypto wallets.
However, one of the most rewarding features of SpacePay is its $SPY token.
SPY Token โ The Utility Token
The $SPY token is the native cryptocurrency of the SpacePay ecosystem and is designed to act as a utility token that powers the ecosystem. Adheres to industry-standard protocols and smart contracts to ensure transparency, immutability, and reliability in all transactions. Some of the use cases for the $SPY token include:
- The most active paying wallets within the SpacePay ecosystem receive Loyalty airdrops As a sign of gratitude.
- $SPY token holders have Voting power and may help decide the future of SpacePay.
- $SPY token holders also get access to New exclusive features before they are released to the general public, including new products and services.
- SpacePay allows a Revenue sharing model where token holders share a portion of SpacePay's income as passive income.
- SpacePay matches everything Charity donations made by $SPY token holders to pre-selected charities, allowing holders to support causes they care about while amplifying their impact.
- $SPY token holders get exclusive access to Quarterly Connection Webinars, offering a direct line of communication with the SpacePay leadership team. These 45-minute sessions will provide first-hand information on the company's progress, strategic plans and upcoming innovations, while allowing holders to ask questions and gain a deeper understanding of the business, fostering transparency, building trust and empowering the community.
Stay tuned for more details and the latest updates on the project.
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