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SpacePay connects cryptocurrency wallets directly to retail payment terminals. The platform has raised $1 million in its presale at $0.003181 per token which has funded its development as a bridge between digital assets and physical stores.
By using existing Android payment terminals, SpacePay lets shoppers pay with crypto while merchants receive their preferred currency.
What SpacePay Actually Does: Connecting 325+ Wallets to Retail Terminals
SpacePay functions as a two-sided payment system linking crypto holders with retail merchants. Here’s how it works in practice:
For Shoppers: The customer selects Pay with Crypto at checkout. The terminal displays a QR code containing the purchase amount and payment details. The shopper scans this code with any of the 325+ compatible wallets. This includes popular options like MetaMask, Trust Wallet, and Coinbase Wallet. They approve the transaction in their wallet app, and within seconds, the payment is confirmed on the merchant’s terminal.
For Merchants: The store’s existing Android payment terminal receives the crypto payment through SpacePay’s API integration. The system instantly converts the cryptocurrency to the merchant’s preferred currency (USD, EUR, etc.) at current market rates. The funds settle in the merchant’s account immediately.
Technical Foundation: SpacePay operates as a terminal-agnostic protocol embedded within standard card machines. The system uses Advanced Encryption Standard (AES) protocols for transaction security.
The platform’s volatility protection mechanism shields merchants from crypto price swings by locking in the fiat value at the moment of transaction. This means even if Bitcoin drops 10% an hour after purchase, the merchant still receives the full agreed-upon dollar amount.
Core Features That Address Common Crypto Payment Problems
SpacePay tackles five primary barriers that have limited crypto payment adoption in retail settings:
Consistent Low Fees: The 0.5% fixed merchant fee stays constant regardless of network congestion, transaction size, or cryptocurrency type. This contrasts with variable crypto network fees that can spike during high-traffic periods. For a $100 purchase, the merchant pays just 50 cents – compared to $2.50-3.50 with typical credit card processors.
Wide Cryptocurrency Support: Users can pay with their preferred digital assets from a broad selection including Bitcoin, Ethereum, USDT, and dozens of other tokens.
Zero Hardware Investment: By operating on existing Android payment terminals, SpacePay eliminates the capital expenditure typically required for new payment systems.
True Decentralization: Unlike some crypto payment solutions that hold customer funds in custodial accounts, SpacePay maintains a fully decentralized structure.
Instant Settlement: Payments clear in 2-5 seconds and settle immediately in the merchant’s account in their chosen currency.
From Concept to $1M Presale: SpacePay’s Development Timeline
SpacePay’s journey from concept to its current $1 million presale milestone spans several key phases:
Q3 2021: Initial Concept Development The founding team identified the gap between growing crypto ownership and limited retail spending options. Initial research confirmed that high fees, volatility concerns, and hardware requirements were the primary barriers for merchant adoption.
Q1-Q2 2022: Private Funding Round SpacePay secured $750,000 from private investors to build core technology and complete initial market research. This funding supported the development of prototype systems and the creation of the Android terminal API.
Q3 2022: Regulatory Framework Development The team obtained necessary regulatory clearances to operate in unsanctioned countries.
Q4 2022-Q1 2023: Industry Recognition SpacePay received the “New Payment Platform of the Year” award at the CorporateLiveWire Global Awards 2022/23.
Q2-Q3 2023: Minimum Viable Product Completion The team completed development of a functioning prototype that successfully processed crypto payments through existing Android terminals with the promised 0.5% fee structure and instant settlement capabilities.
Q4 2023-Q1 2024: Integration Expansion SpacePay expanded wallet compatibility from initial support for 50 wallets to the current 325+ compatible wallet systems, reaching a critical mass for user accessibility.
Q2 2024: Public Presale Launch With the completed MVP and regulatory framework in place, SpacePay launched its public presale.
SPY Token: Current Presale Status and Allocation Structure
The SPY token serves as the governance and utility token for the SpacePay ecosystem. With the presale now exceeding the $1 million mark at a price of $0.003181 per token, early supporters have shown confidence in the project’s approach to crypto payments.
SPY has a total supply of 34 billion tokens distributed across several key categories. The largest allocation, 20% (6.8 billion tokens), goes to the public sale currently underway. User rewards and loyalty programs receive 17% (5.78 billion tokens) to incentivize platform adoption and usage.
Marketing and community building efforts claim 18% (6.12 billion tokens), with an identical 18% designated for strategic partnerships and ecosystem development. The project maintains a 12% reserve fund (4.08 billion tokens) for future contingencies, while development receives 10% (3.4 billion tokens). The founding team holds the smallest allocation at just 5% (1.7 billion tokens), aligning their incentives with long-term project success.
Token holders receive multiple benefits beyond potential price appreciation. The monthly loyalty airdrops reward the most active wallets using SpacePay for transactions.
Governance rights allow SPY holders to vote on platform changes and development priorities. Quarterly connected webinars provide direct access to the leadership team for updates and questions.
Participating in the presale requires only a few steps. Interested buyers visit the official SpacePay website, connect their MetaMask or other compatible wallet, and purchase SPY using USDT, USDC, ETH, BNB, MATIC, AVAX, BASE, or via bank card.
JOIN THE SPACEPAY (SPY) PRESALE NOW
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