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Think about the last time you tried using crypto at a local store. You might have faced complex wallet addresses, long waiting times, or merchants worried about price changes.
These barriers keep many businesses from accepting digital currencies, even as more customers want to use them. SpacePay addresses these everyday payment challenges by connecting over 325 crypto wallets to standard payment terminals while charging just 0.5% in fees.
What is SpacePay: Understanding the Basics
Let’s break down how SpacePay works in everyday situations. Picture a regular payment terminal at your local coffee shop – SpacePay adds crypto payment abilities to these existing machines through a simple software update.
This means stores don’t need to buy new equipment or learn complex systems. The familiar payment screen now gains the ability to accept payments from over 325 different crypto wallets.
When a customer wants to pay, the process follows steps we already know. The merchant enters the amount on their screen, just like with a card payment. Instead of asking for a card tap, the screen shows a QR code.
Customers scan this code with their preferred crypto wallet – similar to how we scan QR codes for restaurant menus or product information. This familiar action starts a sophisticated but invisible process.
Behind the scenes, SpacePay’s technology handles three crucial tasks simultaneously. First, it verifies the customer has enough funds. Second, it checks current market rates to protect the merchant’s earnings. Third, it prepares the local currency payment for instant delivery to the store’s account.
Key Features That Change How Payments Work
The 0.5% fee structure sets SpacePay apart from traditional payment systems. To understand why this matters, think about a store doing $10,000 in monthly sales. With credit cards charging 2.5-3.5%, they lose up to $350 in fees.
SpacePay’s 0.5% fee means they pay just $50, keeping $300 more of their earnings each month. This saving happens because SpacePay creates a direct path between customer and merchant, removing the multiple companies that each take a cut in traditional systems.
The instant settlement system changes how businesses manage their money. In traditional banking, when you pay by card on Friday, the store waits until Tuesday or Wednesday to receive those funds.
Price protection removes the last major barrier stopping merchants from accepting crypto. When a customer pays for a $50 item, the merchant receives exactly $50 in their local currency, no matter what happens to crypto prices.
This protection works automatically in the background, letting store owners focus on serving customers instead of watching market rates.
SpacePay’s Major Accomplishments
The platform’s growth starts with securing $750,000 from private investors who saw the potential in making crypto payments work for everyday business. This early funding provided the foundation for building a payment system that solves real merchant problems.
The Smart Contract Audit marks another key milestone. Think of this like having building inspectors check every detail of a new house’s foundation. Independent experts examined SpacePay’s code, tested security measures, and verified that the system handles payments safely.
The platform earned recognition as “New Payment Platform of the Year” at the CorporateLiveWire Global Awards 2022/23, showing how its practical approach caught industry attention. The completion of the Minimum Viable Product (MVP) proved the system works effectively.
Regulatory compliance opens doors for global expansion. SpacePay meets the standards needed to operate in unsanctioned nations worldwide.
Presale Progress and Token Economics
SpacePay created 34 billion SPY tokens with a clear purpose for each portion. To understand how this works, think about building a city where different areas serve different needs.
The largest area, 20% of tokens, goes to the public sale through presale and exchange listings. Currently, tokens sell at $0.002836 as the presale approaches $1 million, showing growing support for the payment system.
The token distribution follows a careful plan to support long-term growth. User rewards claim 17%, funding monthly airdrops and loyalty programs for active platform users.
Think of this like a rewards program at your favorite store – the more you use SpacePay, the more benefits you receive. The development fund takes 10%, ensuring continuous improvement of the payment system and new feature creation.
Marketing and community building receive 18%, matching the 18% allocated for strategic partnerships. This balanced approach means SpacePay can spread awareness while building valuable connections with payment providers and merchants.
The 12% reserve fund acts like a safety net, ready for future opportunities or unexpected needs. The founding team receives 5%, linking their success to the platform’s long-term growth.
Joining the presale works through an easy process on SpacePay’s website. New users can use any of the supported coins to make the purchase.
JOIN THE SPACEPAY (SPY) PRESALE NOW
