SpacePay just broke the $1 million milestone in its presale, amidst the lukewarm broader market.
The London-based fintech project is building an advanced payment solution to bring crypto to mainstream retail. With a functional MVP, SpacePay (SPY) stands out from the sea of presale projects that exist only on paper.
Crypto in retail: Why it Hasn’t worked yet
The hype around crypto is unmatched. Over the last few years, Bitcoin and altcoins have reshaped finance and investment. Yet, crypto is far from being a perfect currency. Not many people use it to buy their morning coffee. It is not suitable for everyday spending.
Volatility is one of the biggest challenges that stand in the way of crypto adoption. Businesses are unwilling to take payments in a currency that might lose a quarter of its value before they close the cash register. No business owner in their right mind would want to deal with that kind of uncertainty.
Fees are also a concern. Although the industry is praised for cutting out middlemen, crypto transactions can be expensive. During busy periods, in particular, blockchain networks get clogged, leading to massive fees and delayed transactions.
Integration is not easy either. Most merchants can’t justify buying new hardware or dealing with complex software just to accept crypto.
Businesses won’t bother with crypto as long as it’s expensive, volatile, and complicated.
SpacePay addresses these with an easy, cheap solution that integrates directly into existing Android POS systems. That explains why investors are hurrying to secure SpacePay’s native token SPY in the presale before it sells out.
No new hardware, no hassle
SpacePay doesn’t require expensive upgrades, complicated software, or complex integrations. It works with the payment systems businesses already use.
SpacePay’s solution is a simple software update that can be installed directly on Android-based POS systems. It enables crypto payments without additional setup costs. No learning curve and no downtime.
As a result, businesses of all sizes can expand their payment options to crypto, whether it is a small retail shop or a large chain.
The experience is easy and fast for customers too. They don’t have to navigate multiple apps and transfer funds between wallets to make a crypto transaction.
Instead, they just need to scan a QR code on the merchant’s existing terminal and confirm the payment. The transaction is complete in just a few seconds.
Instant conversions, zero volatility
Another major concern with accepting crypto is price fluctuations.
Imagine selling a burger for $10 dollars and seeing its value drop to $8 by the time you convert it into a local currency. Crypto volatility could kill a business.
To solve this, SpacePay converts crypto payments into local currency at the time of purchase. Businesses get exactly what they charge, with no uncertainty.
SpacePay supports over 325 wallets and a wide range of cryptocurrencies. A simple QR code scan completes the transaction in seconds.
Low fees, big savings
Crypto users are a growing demographic. However, when cash and cards work with ease, businesses need more than novelty to accept crypto. It has to bring real value.
SpacePay gets that. By reducing costs and simplifying the payment process, the award-winning project turns crypto into a real advantage rather than just an alternative.
Card transactions come with charges that usually range between 1.5% and 3%. They add up quickly, especially for high-volume retailers. In addition, traditional payment networks rely on multiple middlemen, from banks to payment processors.
SpacePay disrupts this traditional system by offering a significantly lower transaction fee of just 0.5%. With SpacePay, businesses get instant savings on every sale. It also cuts out unnecessary middlemen and reduces operational costs.
Lower fees allow businesses to offer customer perks, like discounts or loyalty rewards.
No compromise on security
Security is another top priority for SpacePay. The platform makes use of features like advanced encryption and multi-layer authentication to protect transactions.
Traditional card payments are often vulnerable to chargebacks and unauthorized transactions. SpacePay’s blockchain system ensures that payments are final and transparent. Here, transactions are not disputed or reversed.
Privacy is another attractive feature. With a contactless system, investors can pay without sharing sensitive banking details using SpacePay. It reduces the risk of data breaches.
$1 Million raised: Is it too late to join the SPY presale?
SPY is the native crypto of the SpacePay ecosystem. It is used for loyalty airdrops, merchant incentives, and a dedicated revenue-sharing model. SPY token holders also get a say in shaping the platform’s future. They can exercise their governance rights by voting on key ecosystem decisions.
With the public presale crossing $1 million and $750,000 already secured from private investors, the momentum is real.
The ongoing presale is the last chance to acquire SPY tokens at a low entry price before they are listed on crypto exchange and potentially becomes the next 100x crypto.. Both cryptocurrencies and fiat cards are accepted in the presale.
For the latest updates and community discussions, follow SpacePay on X (Twitter) and Telegram. The SpacePay community has exploded to over 70,000 followers on X and nearly 5000 members on Telegram already.