.png){kind=logo}
Crypto spending remains trapped online while cash registers still rely on credit cards and cash. SpacePay changes this with a point-of-sale system that brings digital assets to physical stores.
The platform has raised over $1 million in its presale at $0.003181 per token. By connecting 325+ crypto wallets directly to store payment terminals with 0.5% flat fees, SpacePay turns complicated crypto transactions into simple QR code scans.
Merchants receive payments in their chosen currency without exposure to market swings. This opens crypto spending to everyday shopping.
While crypto wealth has grown to trillions, most local shops can't tap into this money. The disconnect is major as millions of people hold digital assets but can't use them at their neighborhood stores.
Many businesses' existing payment terminals don't support crypto. This makes adding separate systems costs too much and complicates checkout.
Current options force difficult choices on store owners:
Pay for expensive new hardware
Deal with complex integrations
Accept high, unpredictable fees
Manage crypto price risk
Create bottlenecks at checkout
Meanwhile, crypto users must convert to fiat before shopping locally. They often have to pay high conversion fees and capital gains taxes in the process. This creates a two-sided problem where eager customers can't connect with willing merchants.
SpacePay addresses this gap by working with existing Android payment terminals. This removes hardware costs while processing transactions in seconds at a flat 0.5% fee.
SpacePay's system operates directly on the store's existing Android payment terminal - no extra hardware needed. Here's what happens during a typical 30-second checkout:
The cashier rings up the purchase total ($42.50)
Customer selects "Pay with Crypto" on the terminal
Terminal displays a QR code with the exact amount
Customer scans the code with any of 325+ compatible wallets
Customer approves the payment in their wallet app
Terminal receives confirmation in 2-5 seconds
Receipt prints showing both crypto spent and dollar amount
Behind the scenes, SpacePay handles multiple crucial functions simultaneously. It converts the purchase amount to the selected cryptocurrency at current market rates, verifies the blockchain transaction, and immediately credits the merchant's account with their preferred currency (USD, EUR, etc.).
The merchant pays only 0.5% per transaction regardless of which cryptocurrency the customer uses. This stays constant whether the store processes five transactions daily or five thousand. There are no monthly fees, no chargebacks, and no waiting periods for funds to settle in the merchant's account.
Crypto payments have changed since Bitcoin's first real-world purchase - the famous 10,000 BTC pizza in 2010. For years, spending digital assets meant:
2010-2015: Manual peer-to-peer transfers that need technical know-how 2016-2018: Online specialty merchants catering to crypto enthusiasts 2019-2021: Limited big-brand adoption with custom implementations 2022-2023: Prepaid crypto cards that convert to fiat before spending
Throughout this change, physical retail remained largely untouched. The few stores accepting crypto typically used cobbled-together solutions. This includes a separate tablet running a crypto app, paper wallet QR codes taped to counters, or complex manual verification processes.
The 325+ wallet compatibility that SpacePay brings to physical retail is important. Previous systems worked with just 5-10 wallets and forced customers to download new apps just to make purchases. Now, the most popular wallets like MetaMask, Trust Wallet, and Coinbase Wallet all connect directly to the checkout terminal.
The biggest hurdle was price volatility, which has kept merchants away from crypto payments until now. SpacePay's instant conversion means store owners receive the exact dollar amount of each sale. This is regardless of market movements during or after the transaction.
SpacePay's presale has already passed the $1 million mark, with tokens priced at $0.003181. This milestone comes after a series of major achievements that position the company as a leader in retail crypto payments:
Successfully raised $750,000 from private investors before the public presale
Completed a strategic buy-back initiative to reinvest in platform development
Completed a fully-functional Minimum Viable Product (MVP) ready for market deployment
Integrated compatibility with over 325 crypto wallets, the widest in the industry
Developed the Android terminal-agnostic API that works with existing payment hardware
Created a volatility protection system that shields merchants from market fluctuations
Established the industry-leading 0.5% flat fee structure with no hidden costs
Won "New Payment Platform of the Year" at the CorporateLiveWire Global Awards 2022/23
Secured regulatory compliance in all unsanctioned nations that allows global operations
The presale continues, and interested participants can purchase SPY tokens using USDT, USDC, ETH, BNB, MATIC, AVAX, BASE, or bank card through the official website.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be risky, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
