The post Why SpacePay ($SPY) Could Be the Missing Piece in Global Crypto Adoption appeared first on Coinpedia Fintech News
Bitcoin and altcoins are making their way into mainstream conversations.
But they are not a widely accepted form of payment in retail.
Businesses, especially small and medium-sized enterprises (SMEs), have yet to experiment with crypto payments. Volatility, high transaction fees, and slow settlement times push them away.
SpacePay ($SPY) solves these fundamental issues.
Let’s Talk About the Core Problem
Here are the three core issues that stop cryptocurrencies from entering mainstream retail.
The first is volatility risk. Since most businesses operate on thin profit margins, they can’t afford to lose money on crypto volatility. If the price of the cryptocurrency drops before it can be converted to fiat, businesses will lose profits. It’s not a sound deal.
Another challenge is cryptocurrency transaction fees. They typically fluctuate based on network congestion. During peak times, fees on blockchains like Ethereum skyrocket. Microtransactions are unfeasible in this case.
Another challenge is integration, as most crypto payment solutions require businesses to overhaul their existing point-of-sale (POS) systems or invest in new hardware. Not all businesses are ready to pay for this additional expense. The technical complexity further adds to it.
How SpacePay Solves These Issues
SpacePay offers a practical payment solution that is as seamless as traditional credit card transactions.
SpacePay has the ability to instantly convert crypto payments into local currency. The mechanism eliminates volatility risk for merchants. They receive the exact amount they charge.
While traditional blockchain payments charge variable transaction costs, SpacePay offers a flat 0.5% fee per transaction. It is a great deal when compared to credit card processors like Visa and Mastercard, which charge merchants between 1.5% and 3.5%.
For businesses that deal with high transaction volumes, these savings can amount to a lot.
Most importantly, SpacePay doesn’t ask businesses to replace their existing payment infrastructure. Instead, it integrates into Android-based POS systems and allows merchants to start accepting crypto. That too, without any extra hardware investments.
Being easy to use and integrate, businesses are more likely to give it a try.
More Than Just Payments: The Role of $SPY Token
$SPY fuels the SpacePay ecosystem.
Usually, traditional payment processors keep all the transaction revenue. SpacePay is different. It redistributes value back to its users in true crypto style that places more value on the community than the team.
$SPY holders gain access to loyalty rewards, governance rights, and revenue-sharing opportunities.
- Token holders can vote on platform updates and new feature implementations.
- Users who actively participate in the ecosystem are rewarded with additional $SPY tokens.
- Long-term holders benefit from revenue-sharing programs based on platform growth.
$SPY is more than just a transactional asset, in other words. The self-sustaining ecosystem benefits both users and merchants.
Why $SPY Could be the Next Altcoin to Explode?
SpacePay allows merchants to accept crypto without the fear of price swings. The project’s goal is to make digital assets as popular as fiat for daily transactions.
Businesses continue to operate in their preferred local currency and customers pay with crypto. Lower fees and instant settlements make SpacePay an attractive option.
SPY is not a speculative crypto. It serves tangible utilities across the SpacePay ecosystem.
Finally, this is not another crypto in the ideation phase. Many crypto projects promise everything under the sky using blockchain technology. In reality, they never manage to deliver a functional product. SpacePay is an exception. It already has an operational Minimum Viable Product (MVP) ready.
The project is credible, unlike typical presale tokens that promise the world and disappear after launch. As a top crypto that could shape the future of digital payments, $SPY is an altcoin to not miss this season.
The Clock is Ticking on the SPY presale
Cryptocurrencies are just investment vehicles now. To break out of the narrative, they need to offer utilities. SpacePay ignites this transition with its cheap and efficient payment solution.
Instant conversion and easy integration sets it apart. In the sea of new altcoins, $SPY stands out.
The $SPY presale that is rapidly gaining momentum gives early adopters an opportunity to support the project before it lists on exchanges.
To learn more about SpacePay and the ongoing presale, visit the official website. Follow the community on Twitter and Telegram.
