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SpacePay (SPY) looks like the solution many crypto users have been waiting for. It has features that could catalyze the rate at which people adopt crypto transactions. These include volatility control, low fees, and even compatibility with a wide range of wallets.
Some issues have discouraged many people from transacting with crypto. Bitcoin and Ethereum, for example, are very volatile. Their prices change almost every minute.
The volatility makes it challenging to determine the number of BTC or ETH to pay for a product without overpaying or underpaying.
That's where stablecoins come in, right? Stablecoins are pegged to other more stable currencies, so they can take their value from them.
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For example, USDT is pegged to the United States dollar. This helps the crypto have some stability and makes it easier to determine the price.
However, stablecoins also have some issues that SpacePay has solved. You have to always convert crypto to the stablecoins to make payments.
Not only that, users typically have to use an exchange, either centralized or decentralized, to use their stablecoins. This typically requires downloading new applications and learning new ways of transacting.
Many newbies usually find this process complex, and they might need the guidance of someone else to use the solutions. These are just a few of the many limitations of stablecoins.
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How SpacePay Solves the Ongoing Issues with Cryptocurrencies
SpacePay addresses the volatility concerns around cryptocurrencies. The system converts crypto payments into fiat currencies automatically.
So, when paying with Bitcoin, for example, the user states the amount of crypto that should be paid, the system locks in this amount, and then converts it immediately into the fiat currency of the merchant's choice. This way, whatever price changes BTC experiences in the process of the transaction or after will not affect the Bitcoin.
The platform's Android-agnostic terminal is also compatible with more than 325 wallets. This makes it possible for users to pay from their existing payment solutions without having to download new apps.
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This does not stop here; it also caters to traditional payment users by integrating seamlessly with existing point-of-sale systems.
SpacePay also accepts multiple cryptocurrencies, including popular and less popular ones. So, users won't have to transfer funds from one crypto to another before they carry out transactions. They can send from diverse portfolios without issues.
Transactions can also be made by merely scanning QR codes to confirm details and payment.
Despite all these amazing features, SpacePay's services do not cost a lot. The platform charges 0.5% merchant fees for all transactions; it does not have hidden fees.
Also, it processes transactions instantly without waiting times, making it suitable for all kinds of businesses, including the fast-paced ones that require instant settlement.
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Holding SPY tokens also has its benefits; holders have special privileges like the permission to vote on key decisions, a share of the platform’s revenue, access to new features before the general public, and quarterly meetings with the SpacePay leadership team, among others.
SpacePay’s Strategic Growth Plan
With the start of the presale, the project has undergone a contract audit, and it is currently building its NFC technology. The technology is expected to reach the beta finalization stage before the end of the presale.
After the presale, SPY tokens will be listed on various exchanges.SpacePay will have partnerships to secure solutions that can take its initiative forward.
Moreover, the team will create various plans for community rewards and also integrate APIs to benefit its community. The marketing plans aim to expand market reach and bring in more people to the ecosystem.
Additionally, there will be scaling operations to continue enhancing its features and meet dynamic community demands.
How to Join the Ongoing Presale
To join the presale, you will need to connect your wallet, such as MetaMask, Trust Wallet, Coinbase Wallet, or Best Wallet, to the presale website. From there, you can fill in the prompts that follow to swap your token for SPY.
The accepted tokens include AVAX, ETH, BNB, MATIC, USDT, USDC, and BASE. You can also pay with your bank card.
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Disclaimer: This is a sponsored article. It is not part of Outlook Money's editorial content and was not created by Outlook Money journalists.
