Using crypto for everyday purchases is still a mess. Despite crypto’s massive popularity as an investment, using it to buy something as simple as coffee will likely earn you bewildered glances from store employees. That’s where SpacePay comes in.
They’ve built a system with a tiny 0.5% transaction fee, compatibility with over 325 different crypto wallets, and instant conversion to regular currency so merchants don’t have to stress about Bitcoin’s price swings.
SpacePay’s presale has already raised $1 million which means there’s a serious appetite for solutions that make crypto actually useful in the real world.
Breaking Down the Barriers to Crypto Adoption
Shop owners have enough challenges to deal with without adding crypto complications to the mix. Most are running on thin margins and crazy hours – they don’t have time to become blockchain experts or shell out thousands for fancy new payment terminals.
SpacePay seems to actually get this. Rather than pushing merchants to buy expensive new gear, their system works with Android payment terminals. It’s a simple software update to equipment businesses already own and understand.
For customers, the experience is surprisingly normal. Scan a QR code with whatever crypto wallet you prefer, tap confirm, and you’re done. No more fumbling through complicated wallet addresses or standing around awkwardly while your transaction processes for what feels like forever.
Solving Crypto’s Volatility Problem
Here’s a scenario that keeps shop owners away from crypto: accepting Bitcoin for a $50 sale, only to discover it’s worth $40 by closing time because prices crashed. No business can operate with that kind of uncertainty.
SpacePay tackles this head-on with a clever fix. When someone pays with crypto, the shop owner gets their money in regular dollars, euros, or whatever – instantly. That $50 sale stays exactly $50 in their account, even if Bitcoin goes on another roller coaster ride minutes later.
The magic comes from a price-locking mechanism that freezes the exchange rate during those few seconds it takes to process the payment. If crypto prices suddenly tank, SpacePay’s system absorbs the difference. The merchant just sees a normal, stable payment hitting their account with none of the crypto drama.
Changing Payment Economics with 0.5% Fees
Anyone who’s run a small business knows those credit card processing fees are brutal. The 2.5% to 3.5% that Visa, Mastercard and others take might not sound huge until you do the math at the end of the month. What makes matters worse is the lack of transparency and additional charges.
SpacePay flips this with their 0.5% fee structure. They can charge so much less by cutting out all those middlemen taking their cut in traditional systems.
The traditional payment flow involves acquiring banks, issuing banks, card networks, payment processors, and various other intermediaries – each collecting fees along the way. SpacePay creates a more direct route using blockchain, without sacrificing security.
The $SPY Token Ecosystem
SPT token holders get monthly rewards based on how active the platform is – kind of like earning dividends from a growing business. They also have voting rights on important platform decisions and early access to new features.
Perhaps most interesting is the revenue-sharing model. As more businesses use SpacePay for payments, a portion of those transaction fees flows back to token holders. The more the network grows, the better it potentially gets for everyone involved.
From the total supply of 34 billion tokens, they’ve set aside 20% for regular people in the public presale – not just wealthy insiders. The founding team only kept 5% for themselves – refreshingly modest compared to many projects for which founders grab huge chunks right off the bat.
Joining the SpacePay Ecosystem
At the moment of writing, $SPY tokens are going for $0.003181 each, though that price will likely climb as the presale progresses.
To participate, head over to SpacePay’s official website and connect your crypto wallet. If you’re new to crypto, they also accept regular bank card payments.
After connecting your wallet, just choose how many tokens you want, confirm the transaction, and you’re set.
For updates on where the project is headed, their Telegram and Twitter channels are the places to keep an eye on.
JOIN THE SPACEPAY ($SPY) PRESALE NOW