Despite growing interest in cryptocurrencies, a fundamental disconnect exists between digital assets and everyday shopping. Millions of people hold crypto in different wallet types, yet few can use these assets at local stores.
Merchants hesitate to accept crypto due to price volatility, technical barriers, and high integration costs. As SpacePay approaches $1 million in presale funding with tokens at $0.003126, its focus on solving this practical gap stands out.
The Missing Connection in Crypto Commerce
A major disconnect exists between crypto ownership and actual spending options. While people hold billions in digital assets across hundreds of wallet types, few merchants accept these currencies for everyday purchases. This gap prevents crypto from fulfilling its original purpose as a payment system for regular transactions.
Merchants hesitate for several practical reasons. Traditional crypto payments expose businesses to price volatility – a $100 sale might be worth $90 by settlement time.
Most systems require special equipment or software that costs thousands to implement. The technical complexity often confuses both staff and customers, creating checkout delays and errors.
Previous crypto payment solutions typically charge 1-2% fees plus network costs, making them more expensive than traditional card processing for many transactions. Settlement times of hours or even days create cash flow problems for businesses that need immediate access to their earnings.
These barriers create a market opportunity that SpacePay addresses by connecting existing payment terminals directly to crypto wallets.
325+ Wallets, One Simple Payment System
SpacePay solves wallet fragmentation through a universal QR code system. Instead of requiring merchants to support hundreds of different crypto payment methods, the platform generates a single QR code that works with any of the 325+ supported wallets.
This universal approach means stores don’t need to choose which cryptocurrencies to accept or which wallet systems to support.
The technical process stays invisible to both merchants and customers. When a store enters a payment amount on their terminal, SpacePay’s system creates a QR code containing all necessary transaction details. This code works as a universal translator between different wallet protocols, handling the complex mapping of payment information across various crypto standards.
Behind the scenes, the system verifies payments through smart contracts that check wallet balances and transaction validity. This verification happens within seconds, confirming the payment to the merchant’s terminal just as quickly as a card transaction.
By eliminating the need for special equipment, SpacePay removes a major adoption barrier. Stores use their existing Android-based payment terminals through a simple software update, requiring zero new hardware purchases.
Merchant Benefits Beyond Lower Fees
While the 0.5% fee creates obvious savings compared to 3% card rates, merchants gain several advantages beyond cost reduction. Instant access to funds changes how businesses operate daily.
A store making morning sales can use that money immediately for afternoon inventory purchases. This quick access helps businesses respond to opportunities faster – from supplier discounts to unexpected stock needs.
Price protection removes the volatility risk that previously kept merchants from accepting crypto. When a store sells an item for $100, they receive exactly $100 in their local currency regardless of crypto market movements.
This guarantee lets businesses set consistent prices without worrying about exchange rate changes affecting their income.
Accepting crypto payments opens stores to new customer segments. Crypto holders often seek businesses where they can spend their digital assets, creating new sales opportunities. For international businesses, the system allows tourists and cross-border shoppers to pay without currency conversion fees or foreign transaction charges.
The multi-wallet compatibility means merchants don’t need to choose which cryptocurrencies to support. By accepting payments from 325+ different wallets, stores accommodate the widest possible range of crypto users.
From Concept to $1M Presale Success
SpacePay built its presale success on completed achievements rather than just future plans. The platform secured $750,000 in private investment, which funded development of the core payment system. This early backing from professional investors provided the foundation for building working technology before seeking wider market support.
Key milestones show actual progress beyond concepts. Smart Contract Audits verify that the payment system processes transactions securely while protecting user funds.
The “New Payment Platform of the Year” award at the CorporateLiveWire Global Awards 2022/23 provides external validation from industry experts. These concrete achievements help explain why presale funding approaches $1 million with tokens at $0.003126.
The expansion strategy focuses on creating adoption clusters in business districts. When several stores in a shopping area use SpacePay, they create natural awareness among both customers and neighboring businesses. This organic growth happens through visible results rather than marketing efforts.
New supporters can join the presale at the current token price using USDT, AVAX, BASE, MATIC, ETH, BNB, or bank cards. The platform accepts various payment methods through a clear process on the official website. Community channels on Telegram and X share regular updates about development progress.
China’s recent directive for its state-owned banks to decrease reliance on the US dollar has amplified a growing trend among countries seeking alternatives to the dominant reserve assets. In some instances, Bitcoin has emerged as a viable competitor.
BeInCrypto spoke with experts from VanEck, CoinGecko, Gate.io, HashKey Research, and Humanity Protocol to understand Bitcoin’s rise as an alternative to the US dollar and its potential for greater influence in global geopolitics.
The Push for De-Dollarization
Since the 2008 global financial crisis, China has gradually reduced its reliance on the US dollar. The People’s Bank of China (PBOC) has now instructed state-owned banks to reduce dollar purchases amid the heightened trade war with US President Donald Trump.
China is among many nations seeking to lessen its dependence on the dollar. Russia, like its southern neighbor, has received an increasing number of Western sanctions– especially following its invasion of Ukraine.
Furthermore, Rosneft, a major Russian commodities producer, has issued RMB-denominated bonds, indicating a shift towards RBM, the Chinese currency, and a move away from Western currencies due to sanctions.
This global shift away from predominant reserve currencies is not limited to countries affected by Western sanctions. Aiming to increase the Rupee’s international use, India has secured agreements for oil purchases in Indian Rupee (INR) and trade with Malaysia in INR.
The country has also pursued creating a local currency settlement system with nine other central banks.
As more nations consider alternatives to the US dollar’s dominance, Bitcoin has emerged as a functional monetary tool that can serve as an alternative reserve asset.
Why Nations Are Turning to Bitcoin for Trade Independence
Interest in using cryptocurrency for purposes beyond international trade has also grown. In a notable development, China and Russia have reportedly settled some energy transactions using Bitcoin and other digital assets.
“Sovereign adoption of Bitcoin is accelerating this year as demand grows for neutral payments rails that can circumvent USD sanctions,” Matthew Sigel, Head of Digital Assets Research at VanEck, told BeInCrypto.
Two weeks ago, France’s Minister of Digital Affairs proposed using the surplus production of EDF, the country’s state-owned energy giant, to mine Bitcoin.
Last week, Pakistan announced similar plans to allocate part of its surplus electricity to Bitcoin mining and AI data centers.
Meanwhile, on April 10, New Hampshire’s House passed HB302, a Bitcoin reserve bill, by a 192-179 vote, sending it to the Senate. This development makes New Hampshire the fourth state, after Arizona, Texas, and Oklahoma, to have such a bill pass a legislative chamber.
If HB302 is approved by the Senate and signed into law, the state treasurer could invest up to 10% of the general fund and other authorized funds in precious metals and specific digital assets like Bitcoin.
According to industry experts, this is only the beginning.
VanEck Predicts Bitcoin to Become a Future Reserve Asset
Sigel predicts Bitcoin will become a key medium of exchange by 2025 and, ultimately, one of the world’s reserve currencies.
His forecasts suggest Bitcoin could settle 10% of global international trade and 5% of global domestic trade. This scenario would lead to central banks holding 2.5% of their assets in BTC.
According to him, China’s recent de-dollarization will prompt other nations to follow suit and lessen their reliance on the US dollar.
“China’s de-dollarization efforts are already having second- and third-order effects that create opportunities for alternative assets like Bitcoin. When the world’s second-largest economy actively reduces its exposure to US Treasuries and promotes cross-border trade in yuan or through mechanisms like the mBridge project, it signals to other nations—especially those with strained ties to the West—that the dollar is no longer the only game in town,” Sigel said.
For Zhong Yang Chan, Head of Research at CoinGecko, these efforts could prove catastrophic for the United States’ dominance.
“Broader de-dollarization efforts by China, or other major economies, will threaten the status of the dollar’s global reserve currency status. This could have [a] profound impact on the US and its economy, as this would lead to nations reducing their holdings of US treasuries, which the US relies on to finance its national debt,” he told BeInCrypto.
However, the strength of the US dollar and other dominant currencies has already shown signs of weakening.
A General Wave of Currency Decline
Sigel’s research shows that the four strongest global currencies—the US dollar, Japanese yen, British pound, and European euro—have lost value over time, particularly in cross-border payments.
The decline of these currencies creates a void where Bitcoin can gain traction as a key alternative for international trade settlements.
“This shift isn’t purely about promoting the yuan. It’s also about minimizing vulnerability to US sanctions and the politicization of payment rails like SWIFT. That opens the door for neutral, non-sovereign assets—especially those that are digitally native, decentralized, and liquid,” Sigel added.
This lack of national allegiance also sets Bitcoin apart from traditional currencies.
Bitcoin’s Appeal: A Non-Sovereign Alternative
Unlike fiat money or central bank digital currencies (CBDCs), Bitcoin doesn’t respond to any one nation, which makes it appealing to some countries.
For Terence Kwok, CEO and Founder of Humanity Protocol, recent geopolitical tensions have heightened this belief.
For these same reasons, experts don’t expect Bitcoin to replace fiat currencies fully but rather provide a vital alternative for certain cases.
A Replacement or an Alternative?
While Bitcoin offers several advantages over traditional currencies, Gate.io’s Kevin Lee doesn’t foresee its eventual adoption causing a complete overhaul of the currency reserve system.
Recent data confirms this. The number of Bitcoin transactions has fallen significantly since the last quarter of 2024. Bitcoin registered over 610,684 transactions in November, but that number dropped to 376,369 in April, according to Glassnode data.
The number of Bitcoin active addresses paints a similar picture. In December, the network had nearly 891,623 addresses. Today, that number stands at 609,614.
Bitcoin number of active addresses. Source: Glassnode.
This decline suggests reduced demand for its blockchain in terms of transactions, usage, and adoption, meaning fewer people are actively using it for transfers, business, or Bitcoin-based applications.
Meanwhile, the Bitcoin network must also ensure its infrastructure is efficient enough to meet global demand.
Can Bitcoin Scale for Global Use?
In 2018, Lightning Labs launched the Lightning Network to reduce the cost and time required for cryptocurrency transactions. Currently, the Bitcoin network can only handle around seven transactions per second, while Visa, for example, handles around 65,000.
“If expansion solutions (such as the Lightning Network) fail to become popular, Bitcoin’s ability to process only about 7 transactions per second will be difficult to support global demand. At the same time, as Bitcoin block rewards are gradually halved, the decline in miners’ income may threaten the long-term security of the network,” Guo, Director of HashKey Research explained.
While the confluence of geopolitical shifts and Bitcoin’s inherent characteristics undeniably create a space for its increased adoption as an alternative to the US dollar and even a potential reserve asset, significant hurdles remain.
Achieving mainstream Bitcoin adoption hinges on overcoming scalability, volatility, regulatory hurdles, stablecoin competition, and ensuring network security.
The unfolding panorama suggests Bitcoin will carve out an important role in the global financial system, though a complete overhaul of established norms seems unlikely in the immediate future.
The crypto market is still facing capitulation as most digital currencies are reversing the selloffs registered in the past week. The price of Bitcoin (BTC) remains in the spotlight as the combined crypto market capitalization jumped 2.44% to $2.76 trillion. With sellers quietly exiting the market, whether the underlying factors can sustain the current outlook remains unknown.
Crypto Market Rebound, Here’s The Trigger
Uncertainty has defined the trajectory of the most assets thus far this month as top coins dropped to their lowest levels this year. While Bitcoin’s price has shown strength, it fell to a low of $76,624.24 before reclaiming the $80,000 mark according to CoinMarketCap data.
Altcoins like Ethereum (ETH) and Solana (SOL) also dropped to new multi-week lows earlier in the month. While Ethereum fell to a monthly low of $1,760.94, Solana bears dragged the coin down to a $113 low. As it stands, BTC and altcoins have bounced off key support, which was formed at their respective monthly lows.
Since the Digital Asset Summit earlier in the week, the crypto market has not witnessed any bearish negative news. Rather, investors are digesting the Trump promise of stablecoin legislation from Congress and a BTC reserve confirmation.
On the macroeconomic level, mainstream media updates regarding the tariff war have toned down, giving the stock market room to recover.
More Selloff Ahead for Bitcoin Price?
At the time of writing, the BTC price had changed hands for $84,295.18, up 2.4% in 24 hours. The coin has pared off the losses incurred in the past week. However, the BTC price still maintains its 30-day loss of 14.27%.
At the moment, shorter-term headwinds in the market are cleared, with ETF investors returning to the scene. Per an earlier CoinGape report, spot Bitcoin ETFs scored an inflow of $785 million after a tumultuous 7-day trend.
Unlike a typical weekend in the industry known for its volatility, BTC prices show stability. Should the positive regulatory shift continue, Bitcoin might turn the $84,000 level into sustainable support.
Where is the Crypto Market Heading?
The current bullish outlook also extends to other altcoins. Per an earlier Solana price analysis, the prospect of a $1000 breakout was explored as the coin formed a parabolic base.
XRP is also in the spotlight following the Ripple and SEC lawsuit resolution, which has carved a positive growth path for it. While most analysts have different price projections for top coins, including Cardano and Dogecoin, the visible outlook shows a tempered selloff for now.
Galaxy Digital may have lost faith in Ethereum and is angling for a massive offload of ETH tokens in the near future. The financial services firm has moved 23,900 ETH to Coinbase in a move that triggered sell-off concerns for the largest altcoin.
Is Galaxy Digital Selling Off Its ETH Holdings?
Fresh on-chain data suggests that Galaxy Digital is jockeying to sell off a substantial portion of its Ethereum holdings. According to an X post by Lookonchain, the firm has transferred 23,900 ETH, worth a staggering $42 million, to Coinbase.
Galaxy Digital moved the ETH holdings from its OTC wallets in multiple transactions, transferring the holdings to Coinbase in under eight hours.
“OTC wallets of Galaxy Digital have deposited 23,900 ETH ($42.52M) to Coinbased in the past 8 hours,” wrote Lookonchain.
The ETH transfers have since sparked concerns of an incoming sell-off by the financial services firm. Traditionally, whales moving a significant amount of their holdings to centralized exchanges are a tell-tale sign of an incoming asset sale.
Sentiment for a sell-off is high in this case, given the sheer volume of ETH transfers to Coinbase and Galaxy Digital’s previous track record. Last week, Galaxy Digital offloaded ETH to purchase SOL on Binance, triggering a price slump for the largest altcoin.
Why Is The Firm Selling Off Its ETH?
Recent plays are indicating a changing stance by Galaxy Digital toward Ethereum. Previously, the firm went on an ETH accumulation spree with CEO Mike Novogratz buying a significant number of assets.
The financial services firm is now turning its gaze toward Solana from Ethereum, given the wave of market challenges faced by ETH. An unenthusiastic price performance that sees Ethereum struggle to hit $2,000 and Solana’s glowing metrics is dousing Galaxy Digital’s enthusiasm for the largest altcoin.
Despite the moves, the recent ETH sales may be short-term efforts by the firm to meet its immediate liquidity needs. Furthermore, the movement of funds may be a change in internal custody processes and not an actual sale.
Ethereum price is holding its own since Galaxy Digital moved its ETH holdings to exchanges. ETH is trading at the $1,800 mark with whales scooping 10M ETH in a show of faith in the beleaguered asset.
