The post SpacePay (SPY): How to Avoid Volatility When Sending Bitcoin, Ethereum, and Other Cryptos appeared first on Coinpedia Fintech News
Bitcoin and many other cryptos have issues with price volatility. Their prices change very fast, which has discouraged many merchants from using them in business.
If a merchant, for example, receives 0.0005 BTC for a product and its value drops in the next hour, the profit made will reduce, and it could affect the business if that keeps happening.
On the other hand, if the value of the BTC paid for the coffee increases in the next minute or hour, the buyer might feel like they overpaid for the coffee.
There is also an issue with valuing the crypto before sending it. Users need to constantly check exchange rates before making purchases, which can be complex or even inconvenient.
The issue of volatility has discouraged the widespread adoption of crypto for everyday transactions. It has even led to higher transaction costs, with some businesses adding some fees when accepting crypto payments. This would discourage many from using that option.
Some businesses that also accept crypto go through the stress of converting the cryptos to fiat currencies immediately to curb any loss of value.
The issue also makes determining the exact value of crypto more complicated, which is a challenge for pricing and tax reporting.
SpacePay Solves Volatility Issues
The SpacePay payment solution allows people with cryptos like Bitcoin and Ethereum to make purchases just like regular money. The system works with existing payment machines, which also makes it easy for merchants to integrate it into their payment system as easily as they would with regular card and cash payments.
SpacePay has a way of protecting against price volatility. With this, even if the value of the crypto used in a transaction goes up or down during that period, the merchant will still get the agreed-upon price in regular money, making accepting crypto payments more comfortable.
SpacePay offers seamless conversion to all traditional currencies, allowing merchants to receive payments in their preferred fiat currency. This feature provides flexibility and convenience, particularly for businesses that operate in multiple countries or deal with international customers.
Stage One Presale for $SPY is ending soon! Don't miss your chance to be part of the SpacePay revolution. Secure your tokens now and join us in shaping the future of digital payments. pic.twitter.com/EccAlkgw6U
— SpacePay (@SpacePayLTD) June 27, 2024
This solution also works with many cryptocurrencies and over 325 different digital wallets, so people can use the crypto wallet they are already used to when making payments.
The wide compatibility means users can easily add SpacePay to their existing digital financial systems without needing extra software or a complex setup.
SpacePay system is a more cost-effective payment option compared to traditional financial systems. It lowers transaction fees and operating costs for both customers and businesses, making it a more efficient payment solution.
The platform charges only a 0.5% fee for all transactions without any hidden costs. This is leading to savings for businesses and potentially lower prices for customers.
More so, SpacePay settles transactions instantly. Unlike traditional payment systems that often have delays and processing times, the solution ensures that transactions are completed right away.
This immediate settlement eliminates waiting periods and gives merchants quick access to their money.
SpacePay is Having an Ongoing Presale
SpacePay is having a presale of its native SPY token, which powers all activities within the ecosystem.
The token is built to provide reliability, translation security, and transparency. The presale presents an opportunity for the crypto community to get involved in a platform that potentially solves the major issues in crypto and has a strong community.
Joining the presale could be a win-win for users, as SpacePay’s solutions could easily set them up for quick adoption and a potential spike in price upon launch. At press time, SPY tokens are being sold at a discounted price of $0.00147.
The SPY token is designed to carry out different functions in the ecosystem, and holders also stand to get various benefits.
One is that the token holder will be rewarded through constant airdrops for their commitment to the project. They will also have the right to vote on important decisions in the ecosystem.
The token will also give holders access to new features before the general public. This way, they can provide feedback on it before and even leverage their first users’ advantages.
Those who hold the token will also automatically be involved in charitable donations and have access to quarterly webinars where they get direct line communication with the SpacePay team.
JOIN THE SPACEPAY (SPY) PRESALE NOW
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