SpacePay Aims to Fix the Disconnect Between Cryptocurrency Investors and Everyday Purchases

The project has already secured over $1 million during its ongoing presale, with the $SPY token currently available at $0.003181.

Cryptocurrency investors have mastered the art of “HODLing” their digital assets for potential future gains, yet spending these same coins on everyday purchases remains surprisingly difficult. Walk into most local shops and mention Bitcoin as a payment method, and the typical response is a confused look from staff who have no system in place to accept digital currencies.

SpacePay aims to fix this disconnect with its payment platform, which features a 0.5% transaction fee, compatibility with over 325 crypto wallets, and instant fiat currency settlements for merchants. The project has already secured over $1 million during its ongoing presale, with the $SPY token currently available at $0.003181.

Most shop owners avoid accepting cryptocurrency because it seems too complicated. New equipment costs money, training staff takes time, and the technical setup feels overwhelming. SpacePay tackles these concerns with a practical solution.

Instead of asking merchants to invest in new hardware, SpacePay works with existing Android payment terminals through a simple software update. This approach means businesses can start accepting crypto payments without replacing equipment they already own and understand.

Staff continue using the same terminals they’re accustomed to, which reduces training time and potential mistakes. The payment process remains intuitive but gains new capabilities – like accepting payments from hundreds of cryptocurrency wallets.

For customers, paying with crypto becomes simple. They scan a QR code with their preferred wallet app, confirm the amount, and complete the transaction in seconds. No typing complicated wallet addresses or waiting nervously for confirmations. The experience mirrors the simplicity of tapping a credit card but utilizes digital currency instead.

We're excited to announce that we've raised over $1M in our ongoing presale!

Join us in revolutionizing the way people pay and shop with SpacePay.

Get involved today and secure your $SPY tokens while they last!

🔗 https://t.co/Fw8cZ7W89b#cryptostartup #presale #web3innovation pic.twitter.com/uB8x8x8u89

— SpacePay (@SpacePayLtd) October 27, 2023

The biggest concern for any business considering cryptocurrency acceptance is price volatility. Nobody wants to sell a $50 item only to discover that payment is worth $40 by closing time because Bitcoin took a deep dive.

SpacePay addresses this challenge with an elegant solution: instant settlement in local currency. When someone pays with cryptocurrency, the merchant receives the exact amount in their regular currency immediately. Sell something for $100, get precisely $100 in your account – regardless of whether Bitcoin crashes or soars minutes later.

This protection comes from technology that locks in the exchange rate during the transaction window. If crypto markets fluctuate dramatically during those few seconds, SpacePay absorbs the difference. The shop owner simply sees a stable, predictable payment arriving in their account with none of the crypto market drama.

This approach eliminates the single biggest obstacle that has prevented widespread merchant adoption of digital currencies. Business owners don’t need to become crypto traders or market watchers – they just receive the expected payment in their preferred currency.

Credit card processing fees have long been a burden for small businesses. Traditional payment processors typically charge between 2.5% and 3.5% on every transaction – costs that significantly impact profit margins.

SpacePay disrupts this model with a flat 0.5% transaction fee. Consider a family-run bookstore processing $25,000 monthly in sales. Traditional payment systems would cost them $750 at the standard 3% rate, while SpacePay reduces this to just $125 per month. This creates $625 in monthly savings that can support new inventory, store improvements, or marketing endeavors.

These savings come from SpacePay’s streamlined approach that removes unnecessary intermediaries. Traditional payment systems route transactions through multiple companies before reaching the merchant days later.

Each entity in this chain takes its cut. It inflates the final fee. SpacePay creates a more direct path using blockchain technology, which maintains security while reducing costs.

Small businesses with narrow profit margins often see this fee reduction as crucial extra capital that enables expansion rather than mere survival. The extra funds could support inventory expansion, facility improvements, or even additional staff.

At the core of SpacePay’s payment network is the $SPY token, which powers the entire ecosystem. The token distribution reflects a thoughtful approach to long-term sustainability.

From the total supply of 34 billion tokens, 20% is allocated to the public presale, ensuring wide community participation. Strategic partnerships and ecosystem development each receive 18%, while marketing gets another 18%.

Tokens for user rewards and loyalty programs account for 17%, with 10% supporting ongoing development and 12% held in reserve. The founding team kept just 5% – notably modest compared to many crypto projects where founders claim