What is Alchemy Pay? Alchemy Pay (ACH) is a DeFi-focused Blockchain project that works as a decentralized payment instrument. In this article, you can find answers to questions such as what is Alchemy Pay, what it offers, what is ACH coin, how to get it, what is it used for. As Kriptokoin.com , we have compiled it for you. Let’s examine the project together.
What is Alchemy Pay?
Founded in 2018, Alchemy Pay is a Blockchain project that set out to solve the problems experienced by users in e-commerce payment services. The DeFi-focused project serves as a decentralized payment instrument. To do this, the platform links fiat and cryptocurrencies. This link has been created to benefit both sellers and buyers.
Alchemy Pay consists of four main parts. These; payment is Network, DeFi and Trust. Users from fiat and crypto ecosystems offer decentralized smart contracts, scaling solutions, on-chain analytics and decentralized finance (DeFi) products within the platform. The ecosystem makes it possible to perform services such as transactions with multiple cryptocurrencies, on-chain and peer-to-peer payments with both crypto and fiat currencies. Working as a payment tool, the project, including the popular e-commerce platform Shopify; Arcadier has signed agreements with large companies such as QFPay. The fact that it attracted institutional investors caused analysts to make positive evaluations about the project.
What is ACH coin? What is it used for?
ACH coin is the native cryptocurrency of the Alchemy Pay platform. ACH, whose maximum supply is limited to 10 billion units, was created on the Ethereum Blockchain with an ERC-20 smart contract. ACH acts as the platform’s governance token. This means that users holding the token can participate in the management of the platform and vote. Besides, ACH can be used for various purposes within the ecosystem.
ACH coin is used by the project to incentivize users. Users who spend using the platform are rewarded with ACH coins. In addition, it is possible to purchase products and services by paying with ACH in contracted businesses and organizations. ACH has staking feature. Token holders can earn additional ACH rewards by locking their holdings for a specified maturity. At the time of writing, ACH coin was the 291st largest cryptocurrency with a market cap of around $158 million. In addition, 4.33 billion ACHs were in circulation, accounting for 43% of the token’s maximum supply.
What are the advantages?
- Users can send money to storage devices such as mobile wallets and cards via Alchemy Pay.
- The platform is supported by global E-commerce platforms such as Shopify.
- Users can get ACH coin rewards when they spend through the platform.
- The platform keeps transaction fees incurred in transactions such as asset transfers very low. Users can transact without paying high transaction fees.
What are the disadvantages?
- Almost all cryptocurrencies have high volatility. High volatility means that the asset’s value fluctuates over a wider range. That’s why Alchemy Pay is considered a high-risk asset.
- Keeping ACH in online wallets increases the risk of cyber attacks. Reports of cyber attacks related to DeFi projects are quite common. This disadvantage can be resolved by moving assets to a hardware wallet.
What is Alchemy Pay? How to buy ACH coin?
To buy ACH coins, it is necessary to be a member of a crypto exchange where the token is listed. Currently; Crypto exchanges such as Binance, Coinbase, Hotcoin Global, and Bybit list ACH. Investors interested in the Alchemy Pay project can purchase ACH by signing up for one of these exchanges and depositing money in their wallets.
