Alchemy Pay: Everything you need to know

Crypto, as we know it today, is one such industry that has constantly been booming for quite some time now and over the past couple of years, it has managed to gain a lot of support from potential investors on a global level and has made a name for itself. Keeping this in mind, I sincerely believe that, a majority of you present here today are already aware of the basics of the industry but, for some of you who are still not very clear about what cryptocurrency is. Let me help you with that. 

Crypto as the name suggests is nothing but a form of online or digital currency which can be used for a variety of purposes including the exchange and trade of currencies over crypto exchanges online as well as for the purpose of buying and selling goods and services, just like in the case of physical currencies, but over the internet. 

Technically speaking, crypto is a blockchain-based platform that is decentralized to its very core, making it capable of working outside the overall control and jurisdiction of central authorities and can work freely without any government interference. Not just that, crypto uses blockchain technology for all of its operations on the network, which as a matter of fact also completely eliminates the risk of counterfeiting and double-spending.

Also, it is worth mentioning that, for some of you wondering if it is safe to invest in cryptocurrencies? The answer to your question is a big old yes, all thanks to something known as cryptography, which makes the industry extremely secure. In addition to this, the increase in growth and popularity of the industry over the past couple of years has been extraordinary and at a rate that was never anticipated. 

Some of the most important factors for this huge success of the industry include its convenience, portability it offers, high-profit margins, ease of use as well as its highly uncertain and volatile nature. Apart from this, the industry has grown so much that, unlike when it was first introduced, there are newer currencies coming up each day and numerous investors are joining in with each passing hour. 

Speaking of a lot of currencies available today in the marketplace, some of the most popular currencies that you can invest in right now include Bitcoin, Dogecoin, Ethereum, Binance Coin, as well as Baby Doge to name just a few. Also, it is worth noting that, as per the chatter amongst global experts on the field, it is brought to light that, the crypto industry is set on a path of completely revolutionizing the global payment system in the near future and frankly, from where I stand, it seems like the industry is already progressing towards that very goal. 

Now that you have a brief backstory about the crypto world, you will be able to have a much better understanding of what we have with us today, Alchemy Pay. To know more, I suggest you read further!

Everything to know about Alchemy Pay (ACH)

Alchemy Pay or as commonly referred to as ACH is nothing but a hybrid infrastructure for crypto-fiat payments, founded about three years ago, back in the 2018 model year. In other words, Alchemy Pay is seen as the pioneer of the first payment gateway solution all across the globe, to bridge the gap that exists amongst fiat and crypto economies. 

On a similar note, Alchemy is one such platform that provides its users with several options for the overall settlement of both fiat money as well as for cryptocurrencies and is building products in order to help decrease the overall friction of the legacy financial systems with the help of its said model. Also, before moving on any further, it is vital for you to know that ACH is the native utility token of the platform, which can be used for several purposes on the platform itself including the payment of fees on the network as well as the fact that users can also earn rewards for purchases in the form of ACH. 

Apart from just focusing on crypto-based payments, Alchemy is also known to allow easy and seamless access to blockchain solutions, services for decentralized finance (DeFi) as well as cryptocurrency investments, all configured as required to serve investors who are new to cryptocurrencies and blockchain technology as well as sophisticated veterans. 

Also, according to a report, Alchemy is said to have grown to form a somewhat practical base of merchant network including Singapore’s Cé La Vi, popular Canadian footwear brand Aldo, software technology company Arcadier, the biggest furnishing company in Hon Knong, Pricerite as well as a firm commonly referred to as Midwest Global Asia taxi services.

In addition to this, as and when Alchemy Pay grew over the years, its associations with QFPay as well as Binance increased its merchant and end-user touchpoints to millions, including the customers of a popular e-commerce giant commonly known as Shopify. Other than this, ACH that we previously mentioned is an ERC-20 token based on the Ethereum blockchain, which can indeed be used for the purpose of incentivizing the participation of all major roles in the overall Alchemy Pay fiat-crypto hybrid ecosystem. 

Not just that, these virtual assets of yours can very well be rewarded, pledged, paid as fees, accumulated as well as confer voting rights in community scenarios or token governance for that matter. Also, as of September 21, 2021, Alchemy Pay has announced to be using Chainlink Price Feeds in order to allow users to purchase cryptocurrencies over decentralized exchanges (DEXs) while obtaining loans in lending platform for decentralized finance (DeFi) directly from virtual wallets with the help of ACH, Alchemy Pay’s very own Ethereum utility token. 

For those of you wondering, what role does it play? Allow me a chance to explain. Chainlink Price Feeds are known to help assure users on the platform that they are receiving fair market exchange rates, when buying assets directly through their wallets on DEXs such as SushiSwap, UniSwap along with ForTube using their ACH token, when collateralizing DeFi loans with ACH. 

Also, you should probably be aware of the fact that Chainlink already helps in securing about tens of billions in value across centralized finance (CeFi) as well as decentralized finance (DeFi). Some of the major benefits of Chainlink Price Feeds include Secure Node Operators, High-Quality Data, Economy of Scale as well as Decentralized Network to name a few. 

What makes Alchemy Pay special? 

Reading so far, a lot of you must be wondering as to what is it that makes Alchemy Pay unique? Let me explain. To begin with, Alchemy Pay is a platform that was founded by an entire group of fiat payment gateway veterans, from China and Singapore. As a matter of fact, all these people had a  vision for building a bridge between crypto and fiat, while sharing a common interest in the emerging crypto space. 

The platform allows its participants in both crypto and fiat ecosystems to achieve flexible, convenient, scalable, secure as well as fast global payment solutions, based on second-layer scaling solutions, decentralized smart contracts, consensus mechanism of blockchain technology as well as on-chain analytics. 

Furthermore, the Alchemy Pay ecosystem is known to offer its users with transactions having cross-chain payments, multiple cryptocurrencies, combined payments, escrow payments, peer-to-peer payments, conditional payments as well as fiat options for each. Unlike few high-profile agendas who prefer leaving the fiat world behind, Alchemy chose to build an interface bridging the fiat and crypto worlds.

Now that we have talked much about Alchemy Pay, some of you must be wondering, whether or not it is a good idea to invest in the platform? if that’s the case, then let’s find out, shall we?

Investing in Alchemy Pay (ACH)

As of today, the price of Alchemy Pay is about 0.075975 US dollars with a twenty-four-hour trading volume of 233,768,123 dollars. Not just that, in just the past twenty-four hours, the value of the Alchemy has gone up by 13.83 percent, and with the current market cap of 257,328,406 US dollars, ACH is currently placed at #272 position as per the CoinMarketCap rankings.

Also, it is worth mentioning that, the current circulating supply of Alchemy Pay is nearly 3,387,025,441 ACH coins with a maximum lifetime supply of about 10,000,000,000 ACH coins. In just the past week alone, the price of Alchemy has gone uphill by 25.87 percent.

Reading so far, you must have gotten a fair understanding of the platform and by now,  you should be able to figure out on your own whether or not investing in Alchemy Pay is the right thing for you to do. Seeing what it has to offer when combined with its performance in the recent past as well as its plans for the near future, I certainly believe that Alchemy Pay can prove to be a profitable investment in the near future, which is likely to provide you with good returns and it is a possibility that your current investment may increase in value. But again, nothing can be said for sure!

As mentioned at the very beginning, crypto is a highly volatile marketplace and is extremely uncertain. Thus, It is very important for you to understand the fact that, just like any other currency in the crypto marketplace, Alchemy Pay does have its own risks as well and you should invest only if you are willing to take those risks and bear any and all losses if at all necessary.

If you are wondering, where can you buy Alchemy Pay? Let me help you with that. Currently, Alchemy Pay is available on all major crypto exchanges but, some of the popular exchanges that have ACH listed on them include Huobi Global, ZT, Gate.io, Coinbase Exchange as well as HitBTC to name a few. 

In conclusion, what are your thoughts on Alchemy Pay? Do let us know in the comments below. To know more about various cryptocurrencies, do check out other articles we have on our website. Thank you for your time & if you found our content informative, do share it with your investor friends!

Also read: Decentraland: Everything you need to know