Investors are now looking for low-cap assets with high focus on utility now that Bitcoin is on the rise again. As cryptocurrencies become more mainstream, tools will be needed for people to spend their holdings on day-to-day items. Existing tools that allow people to do that are complex, which is why SpacePay is here to provide a simpler alternative.
This unique application takes a futuristic stride towards making crypto payments easier. Integrated with the card machine, it will let users spend their crypto however they want and merchants get paid without having to worry about market volatility.
However, is the current ecosystem strong enough to allow for this use case to succeed?
What is SpacePay?
The official website defines SpacePay as a revolutionary cryptocurrency payment software solution, a terminal-agnostic payment protocol that could integrate with any card machine. As people will have a sense of familiarity when spending their unconventional assets, merchants will have their interests protected despite the volatile nature of the cryptocurrency market.
This approach offers a bi-directional benefit, ensuring that both sides of the aisle - merchants and consumers - have an easier time interacting with the crypto market.
What Features Make SpacePay a More Reliable Crypto Payment Solution
SpacePay's decentralized payment system is free for users and offers standard perks to safeguard the transactions. We are talking about greater security and privacy while maintaining efficiency. This approach can deter unauthorized access while letting investors have complete control over their assets.
The only cost that exists is the transaction fee, and it is only 0.5%, which is far more affordable than the card charges that people often have to pay today.
For the payment companies, the entities to which the card machines belong, there are no integration charges. This aspect can help SpacePay enhance its reach quickly in the market.
Beyond cryptocurrency payments, however, there are technological perks of this technology that make it even more valuable than traditional payment methods:
Instant Settlement - Banks sometimes become a roadblock to transactions, and when it comes to existing crypto ecosystems, a crowded network does the same thing. With SpacePay, however, innovation has been put towards settling the transactions immediately.
Option to Choose Multiple Crypto - SpacePay won't limit users to a single crypto. Whereas high-profile assets like USDT, Bitcoin, and Ethereum are supported, meme coins like Dogecoin and Shiba Inu can also be used for transactions.
Protection Against Volatility - The crypto market is so volatile that it won't be a surprise that the value of an asset can change while it is amid transaction. In that case, merchants will be protected by changing the amount of crypto paid based on the agreed-upon dollar amount.
Multi-Wallet Compatibility - SpacePay's primary goal is to expand on multiple platforms, which is why it is compatible with over 325 wallets.
SPY Token: Powering Futuristic Payment Solutions
Powering the SpacePay ecosystem is the SPY token. It is an ERC-20 asset with multiple use cases.
For one, it is instrumental in providing loyalty airdrops, which will go to those who actively use SpacePay's services for their transactions.
Secondly, SpacePay is an evolving ecosystem, which has led it to implement a decentralized autonomous organization that will have SPY holders as members. They will get voting power to decide the direction in which the project grows.
Thirdly, SPY will let users get early access to special features before they go to the general public.
Quarterly webinars for feedback and updates, revenue share, and charitable donations are also part of this unique ecosystem. Given that SpacePay has already been awarded the "New Payment Platform of the Year" award by CorporateLiveWire Global Awards, it is safe to say that many of the token's perks have already gone up and running.
Is SpacePay a Good Investment?
Ever since the crypto winter of 2022, people have not looked forward to utility cryptos and have diverted their attention towards meme coins. However, with Bitcoin on the rise again, crypto projects with formidable use cases have a chance to grab people's attention again.
This factor does make it a good investment.
Other reasons that SpacePay can be construed as a good investment include the fact that its founding team consists of high-profile professionals who have worked in the crypto industry. The token's presale success so far is also indicative of SPY's potential as a suitable investment. What adds to the token's bullishness is that it has raised upwards of $750K from private investors already.
How to Buy SpacePay?
Here are the steps to buy SpacePay from the ongoing presale:
Visit the official website - presale.spacepay.co.uk
Go to the presale widget and connect wallet after selecting chain
Enter the number of ETH, USDT, or USDC to exchange for SPY
Complete the transaction and claim the tokens once the presale concludes
Final Words
SpacePay is a project that envisions providing transparent, efficient, and fast payment solutions at a time when the crypto market is returning to form. This could have a positive impact on this token.
Furthermore, its presale has been a success so far, with it raising upwards of $550K at the time of writing. It is likely that as time passes, more people will be interested in what it has to offer, which is another reason to act fast to become early movers.
https://x.com/SpacePayLtd/status/1855704675812585592
It is also recommended that people check out this payment solution's Twitter and Telegram accounts to learn more.
Disclaimer: The above is a contributor post, the views expressed are those of the contributor and do not represent the stand and views of Outlook Editorial.
