The realm of cryptocurrency continues to gain attention due to its innovative blockchain technology and seamless transactions. Recognizing the growing interest in crypto name domains, Alchemy Pay has announced a collaboration with SPACE ID, bringing personalized crypto name domains into its blockchain transaction system.
Alchemy Pay has incorporated the Web3 name service by SPACE ID, allowing users to utilize personalized domain names when purchasing cryptocurrencies with their local fiat currencies. This integration simplifies the transaction process, eliminating the need to manage complex alphanumeric wallet addresses and making the experience accessible to both crypto veterans and newcomers.
.#AlchemyPay has integrated the Web3 Name SDK powered by @SpaceIDProtocol, allowing users to enter addresses using domain names ended by .bnb/.arb(@SID_bnb & @SID_arb) to easily purchase & sell crypto.
— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) July 24, 2023
Read more at: https://t.co/lLrnpU7MfP$ACH pic.twitter.com/ExNfoNZ8Zn
Purchased digital currencies are no longer sent to traditional crypto wallet addresses. Instead, they are directly transferred to the wallet address associated with the user’s unique SPACE ID domain, usually ending in .bnb or .arb. This development not only improves convenience but also increases transaction security by minimizing potential errors associated with long wallet addresses.
Alchemy Pay’s Ramp Solution, deployable across various dApps and platforms, simplifies fiat-to-crypto transactions globally. With its reach spanning 173 countries, Alchemy Pay supports a multitude of payment methods, including Visa, Mastercard, regional mobile wallets, local bank transfers, and region-specific systems like Europe’s SEPA, Australia’s PayID, and Brazil’s Pix.
Prioritizing transaction security and regulatory compliance, Alchemy Pay acquires necessary payment and money service licenses, endorsed by Visa and Mastercard as an official third-party payment provider. This positions Alchemy Pay as a reliable platform for bridging fiat and crypto economies.
SPACE ID is revolutionizing cryptocurrency address usage by replacing long and confusing traditional crypto addresses with easy-to-remember personalized domain names. For instance, users on the BEP20 network can use an address like “AlchemyPay.bnb” to receive funds, making transactions more user-friendly.
Further, Alchemy Pay has become a qualified partner in SPACE ID’s grant program, designed to provide funding and resources for innovative blockchain community projects.
Personalized crypto name domains offer businesses and influencers an innovative way to connect with audiences, akin to domain names on the web. Alchemy Pay's partnership with SPACE ID could be a significant step forward for marketing, branding, and customer engagement in the crypto world.
