SpacePay Launches Crypto Payment System With 0.5% Fee

SpacePay, a London-based startup, has introduced a payment system that allows merchants to accept both Bitcoin and Ethereum without the hassle of dealing with price volatility or the need for expensive new equipment. The system works with existing card machines and charges a fee of just 0.5%, converting crypto to cash instantly so merchants never have to worry about price drops.

One of the main issues with accepting Bitcoin payments is the volatility of the cryptocurrency market. A payment made in Bitcoin could lose value by the time the merchant closes for the day. SpacePay solves this problem by converting the crypto payment to cash immediately, ensuring that the merchant receives the exact amount charged, regardless of any subsequent price fluctuations.

The process is simple and familiar. Customers scan a QR code with their Bitcoin wallet, tap confirm, and the payment is complete. This process takes about as long as inserting a chip card, making it convenient for both customers and merchants. The same system applies to Ethereum payments, which can be subject to high gas fees and complex smart contracts. SpacePay ensures that merchants receive cash instantly, with no gas fee surprises or complicated setup processes.

SpacePay supports over 325 different wallets, allowing customers to use their preferred wallet without the need to switch. This flexibility benefits businesses by enabling them to accept payments from a wider range of customers, all while maintaining a simple and efficient process. The system is designed to work with the wallets that customers are already comfortable with, making the payment experience seamless.

One of the key advantages of SpacePay is its cost-effectiveness. Traditional credit card companies charge fees ranging from 2.5% to 3.5%, which can significantly impact a small business's revenue. SpacePay's 0.5% fee represents a substantial savings for merchants. For example, a local bookstore doing $40,000 in monthly sales would pay $1,200 to credit card companies but only $200 with SpacePay, freeing up funds that could be used for rent, utilities, or employee wages.

SpacePay's lower fees are possible because the system cuts out the middlemen involved in traditional credit card transactions. By creating a direct path using blockchain technology, SpacePay reduces the number of hands in the process, resulting in lower costs for merchants. This direct approach not only saves money but also streamlines the payment process, making it more efficient and user-friendly.

SpacePay's presale is currently underway, with $SPY tokens priced at $0.003181 each. Interested parties can visit SpacePay's website, connect their crypto wallet, and complete their purchase using ETH, BNB, MATIC, AVAX, BASE, USDT, USDC, or a regular bank card. This straightforward process makes it easy for anyone to get involved and support the development of SpacePay's innovative payment system.