There are several challenges with using Bitcoin, Ethereum, and many other cryptos for payment purposes.
These issues range from price volatility to network congestion that could make transactions slow and the high cost of sending funds, among others.
These issues pose a major challenge to crypto being widely adopted by many who are already used to the traditional system. However, SpacePay has introduced an initiative to solve this issue, and that is what we will be looking at here.
SpacePay is a tech company in London that is creating initiatives to make it easier for people to use cryptos in their daily lives. It aims to fix issues with using complex crypto systems and make them more stable, cheaper, and available to people.
The company seeks to connect the normal banking system with cryptos, making adoption seamless and faster.
They believe it can be achieved by allowing people to work with the payment machines they already have, which means that they can start using crypto for transactions without having to change a lot about their equipment or how they have been operating.
SpacePay’s solution is also decentralized and not controlled by any central body, making it more reliable. The company thinks that putting all these in place will make it easier for businesses and individuals to accept the solution.
Unscramble the crypto puzzle: "AOTNLIC."🤔
— SpacePay (@SpacePayLTD) June 26, 2024
Here's a hint : All digital currencies other than the one invented in 2009…🔎👀
What's the term? 🕵️ Reply with your answer! pic.twitter.com/vchNGQ5YA5
Key SpacePay’s Solution That Could Drive Crypto Adoption
Below are SpacePay’s features that are aimed at solving the key problems of crypto.
Multiple Cryptocurrency Options
SpacePay supports a wide range of cryptocurrencies, including popular ones like Bitcoin, Ethereum, and Tether’s USDT. This variety gives users the flexibility to use their preferred digital assets, meeting the diverse needs of the crypto community.
Protection Against Price Volatility
SpacePay is also protecting its users from the wild price changes that happen in the crypto market. Many people have problems with the quick-changing price, which makes it hard for merchants to recover the agreed-upon price for goods or services.
However, SpascePay ensures that the price change does not affect transfers, no matter the crypto used for making the payment or the crypto price changes that could have occurred during the transaction.
Instant Settlement and No Waiting Times
Traditional systems and some cryptos also delay transaction processing due to network work congestion and the way they were built. This can be frustrating for some.
However, SpacePay eliminates this issue by providing instant settlement for transactions. Businesses can access their funds immediately, improving cash flow and operational efficiency.
Compatibility with a Wide Range of Wallets
A supports more than 325 wallets, including options like MetaMask and Coinbase Wallet. The wide compatibility ensures that many crypto holders can easily use the platform.
This reduces the barrier to entry and creates a good user experience.
Low Cost of Transacting
The solution also makes sure that all transactions only cost 0.5%. The fixed and competitive pricing makes it an effective option for those who want to send large or very low amounts of money.
The SPY Token: Powering the SpacePay Ecosystem
The SPY token is the native crypto of the ecosystem, and it is designed to encourage people to use and grow the platform. The token also gives holders the following benefits:
- Monthly Airdrops: Active users receive free tokens each month as a reward for using the platform.
- Voting Power: Token holders can vote on important changes and new ideas for the platform.
- Early Access: They can try out new features and services before everyone else.
- Profit Sharing: A portion of the platform’s earnings is given to token holders.
- Charity Donations: SpacePay will match any donations made by token holders to selected charities.
- Quarterly Webinars: Token holders can join private online meetings with SpacePay’s leaders to learn about the company’s progress and plans.
SpacePay’s solution could be effective in connecting digital assets for everyday use. Making crypto payments as easy as regular traditional models could make widespread adoption of crypto faster.
For those who want to join this system, SpacePay is currently holding a presale for its SPY token. People can use their MetaMask or other supported wallets to connect to the presale and use cryptocurrencies like ETH, BNB, MATIC, AVAX, BASE, USDT, or USDC to reserve SPY tokens.
JOIN THE SPACEPAY (SPY) PRESALE NOW
