Bridging the Gap: SpacePay Revolutionising Cryptocurrency Payments and Connectivity

One of the biggest problems the cryptocurrency ecosystem is currently facing is its lack of seamless connectivity with the world of traditional payments. While there are various platforms bridging the gap between centralised and decentralised finance, the bridge is shaky at best and hindered 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 payment infrastructure and the decentralised world of blockchain technology by tackling the primary obstacles faced by the cryptocurrency ecosystem. Let’s take a closer look at the problems hindering the widespread adoption of blockchain technology.

Inefficiencies in Decentralised Finance Bridging Centralised Finance

Blockchain technology has undoubtedly transformed finance and various other billion-dollar industries globally. Yet, its integration into the payments sector encounters numerous obstacles, such as:

  • Volatility: The inherent fluctuation in cryptocurrency values has led to merchants’ hesitance in accepting them as a payment method. Concerns stem from the potential impact on revenue due to rapid price changes.
  • High Costs:Current crypto payment solutions often come with high fees, discouraging users and merchants, and leading to low transaction volume and user engagement.
  • Long transaction times: The transaction times for current cryptocurrency payments, range from 5 to 30 minutes, which exceed those of conventional payment systems significantly. This delay has been a major barrier to the widespread acceptance of cryptocurrency payments among merchants due to its unscalable nature.
  • Lack of Accessibility: The lack of widespread availability of cryptocurrency payment options further hinders adoptions. Merchants often face problems related to technical complexities, volatility risks, and lack of awareness.

SpacePay aims to provide a decentralised solution to these problems, not just addressing these problems, but by bringing a new level of connectivity and accessibility.

SpacePay as an All-in-one Crypto Solution

SpacePay introduces a decentralised, terminal-agnostic payment protocol designed for integration with card machines, enabling merchants to process cryptocurrency transactions in retail settings without exposure to volatility risks. Its payment APK is compatible with more than 325 wallets, offering customers the flexibility to make payments from their chosen crypto wallets using their preferred cryptocurrency.

SpacePay offers a solution that is cost-effective and efficient, reducing transaction fees for merchants, and removing all payment costs for payee’s.

Here are some noteworthy features of SpacePay:

  • Targeting a Broad Spectrum of Users: SpacePay’s decentralised platform enables users with any wallet to make payments via 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 scalable payment infrastructure with its terminal-agnostic payment APK, allowing seamless integration across all card machines without incurring costs for payment companies or acquirers. This approach eliminates a significant barrier in the payment space that other companies have previously introduced.
  • Cost-effective and Efficient: SpacePay offers a cost-effective and efficient payment system, charging a minimal merchant transaction fee of 0.5% per transaction while eliminating all fees and costs for payment companies and payees, benefiting both consumers and merchants.

SpacePay offers a variety of features that are not limited to the above-mentioned benefits. For instance, the platform allows users to transact in multiple currencies, offers instant settlements, provides volatility protection, and is compatible with the majority of crypto wallets.

However, one of the most rewarding features of SpacePay is its $SPY Token.

SPY Token – 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. It adheres to industry-standard protocols and smart contracts, to ensure transparency, immutability, and trustworthiness in all transactions. Some of the use cases of the $SPY token include:

  • The most active wallets paying within the SpacePay ecosystem receive Loyalty Airdrops as a token of appreciation.
  • $SPY Token holders have Voting Power and can help in deciding the future of SpacePay.
  • $SPY token holders also gain access to Exclusive New Features before they go live to the general public including new products and services.
  • SpacePay enables a Revenue-Sharing Model where token holders share a portion of  SpacePay’s revenue as passive income.
  • SpacePay matches all Charitable Donations made by $SPY token holders to pre-selected charities, enabling holders to support causes they care about while amplifying their impact.
  • $SPY token holders gain exclusive access to Quarterly Connect Webinars, offering a direct line of communication with SpacePay’s leadership team. These 45-minute sessions will provide firsthand insights into the company’s progress, strategic plans, and upcoming innovations whilst allowing their 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 about the project.

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Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Mayank Singh

Published by
Mayank Singh

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