Crypto Investors Guide: Is Alchemy Pay a Good Investment in 2022?

Is Alchemy Pay a Good Investment in 2022

People want to spend their cryptocurrency on goods and services as cryptocurrencies are becoming mainstream. However, there are not enough businesses willing or able to take cryptocurrencies as payment. Alchemy Pay, or ACH for short, is a hybrid infrastructure for crypto-fiat payments that was founded approximately three years ago, in the 2018 model year. In other words, Alchemy Pay is regarded as the pioneer of the first global payment gateway solution, bridging the divide between the fiat and crypto markets.

On a related note, ACH is one such platform that offers its users multiple options for the overall settlement of both fiat money and cryptocurrencies and is developing solutions to assist in reducing the overall friction of legacy financial systems.

Additionally, before continuing, it is critical to understand that ACH is the platform’s native utility token, which may be used for a variety of reasons on the platform, including the payment of network fees and the ability for users to receive incentives for ACH purchases. Let’s get right into the article to know more.

 January 13th 2022 Update: Alchemy Pay’s share price has decreased 3.29 percent in the previous 24 hours.

Alchemy Pay Crypto: Overview

Apart from cryptocurrency payments, Alchemy is well-known for facilitating easy and seamless access to blockchain solutions, decentralized finance (DeFi) services, and cryptocurrency investments, all of which can be configured to suit investors new to cryptocurrencies and blockchain technology as well as seasoned veterans.

Additionally, Alchemy Pay crypto is said to have developed a somewhat practical merchant network, which includes Singapore’s Cé La Vi, popular Canadian footwear brand Aldo, software technology company Arcadier, Hong Kong’s largest furnishing company, Pricerite, and a firm commonly referred to as Midwest Global Asia taxi services.

Additionally, as Alchemy Pay flourished over the years, its partnerships with QFPay and Binance expanded its merchant and end-user touchpoints to millions, including those of a popular e-commerce company known as Shopify. Apart from that, ACH is an ERC-20 token based on the Ethereum blockchain that may be used to incentivize involvement in the larger ACH fiat-crypto hybrid ecosystem.

Not only that, but these virtual assets can be rewarded, pledged, paid as fees, accumulated, and even bestow voting rights in community scenarios or token governance. Additionally, as of September 21, 2021, Alchemy Pay has announced that it will be utilizing Chainlink Price Feeds to enable users to purchase cryptocurrencies via decentralized exchanges (DEXs) while also obtaining loans via a lending platform for decentralized finance (DeFi) directly from virtual wallets using ACH, Alchemy Pay’s very own Ethereum utility token.

Chainlink Price Feeds are well-known for assuring platform customers that they are obtaining fair market exchange rates when purchasing assets directly through their wallets on DEXs such as SushiSwap, UniSwap, and ForTube, or when collateralizing DeFi loans with ACH.

Additionally, you should be aware that Chainlink already assists in safeguarding tens of billions of dollars in value across centralized finance (CeFi) and decentralized finance (DeFi). Among the many advantages of Chainlink Price Feeds include secure node operators, high-quality data, economies of scale, and a decentralized network.

January 13th 2022 Update: Alchemy Pay’s live price is currently $0.058115 USD.

ACH Coin

The first thing to note about Alchemy Pay is that it exists on the Ethereum blockchain in ERC-20 format. As a result, referring to the ACH coin as a coin is not entirely true, as it is technically a token and does not have its own blockchain. Having said that, you will come across references to the ACH coin. That is simply Alchemy Pay, so avoid becoming confused.

Both the ACH cryptocurrency and the Alchemy Pay system are aimed at bridging the divide between cryptocurrency and traditional fiat currency.

January 13th 2022 Update: MEXC Global uses Alchemy Pay to provide on- and off-ramps in Japan, Korea, and Indonesia.

Crypto vs. Fiat

When bitcoin was founded in 2008, the goal was tof develop a system that would operate independently of fiat currencies. While the old system could effectively disenfranchise the billions of individuals who lack bank accounts, cryptocurrency would enable them to access financial services as long as they had internet connectivity. This proposition, dubbed decentralized finance, or DeFi, is the conceptual underpinning of cryptocurrency.

While the concept is sound – without it, we would not have anything associated with crypto, from the blockchain to non-fungible tokens – there is one practical issue. That is, the aim was for crypto and DeFi to operate completely independently of fiat currency and traditional, centralized finance. While this premise was sound, the reality is that the world does not operate in this manner.

While cryptocurrency owners may wish to conduct transactions in cryptocurrency, this does not mean they are willing to sacrifice paying in fiat. Given the large number of people who own relatively little amounts of crypto (not every crypto owner is a so-called whale, after all), it’s simple to see why mixing crypto and fiat could be a good idea.

January 13th 2022 Update: Alchemy Pay expands its offering by including direct fiat on-ramps through a partnership with Singapore fintech Nium.

Constructing a Bridge

Alchemy Pay’s mission is to enable customers to choose between crypto and fiat payments. It accomplishes this by providing payment mechanisms that allow individuals to choose between the two. If this sounds a little complicated, keep in mind that electronic payment systems accept a variety of fiat currencies by default. While this concept may appear to be self-evident, ACH is the first network to put it into action.

While Alchemy Pay exists for its flexibility, it is not the sole reason. Installing and operating a card machine can be costly for shops. As stated in the white paper, cross-border transactions can be inefficient and costly, there are concerns about security and privacy, and the overall process is onerous. It discusses a global retailer operating in the Asia-Pacific region that has retail locations and a unified retail management system in Sydney, Hong Kong, Dubai, Bangkok, Singapore, and Kuala Lumpur.

This fictional business must rely on eight distinct service providers to process its transactions. This slows down and increases the cost of doing business, as Alchemy Pay notes, because “payment efficiency is low and the overall payment cost is high.” “Most importantly, retailers and cardholders have no choice, no right of discourse, no right to pricing setting, and no right to access information in this aging ecosystem,” it continues. Alchemy Pay fixes this problem.

January 13th 2022 Update: CoinMarketCap now ranks it at #281.

Alchemy Pay: Trading Through Chainlink

Alchemy Pay’s mission is to “design the payment protocol via community consensus, to construct a decentralized, trust-based infrastructure, to accelerate the adoption of cryptocurrency in our daily lives, and most importantly, to reclaim payment rights for merchants, customers, and the market.”

ACH implements Chainlink to enable trading on decentralized exchanges and borrowing in decentralized financial institutions through ACH.

Due to the fact that the price of assets is not a data feed that is intrinsically available on the blockchain, a solution is required to retrieve it off the blockchain (off-chain) and then provide it on-chain for usage in transactions involving multiple cryptocurrencies.

To avoid mistakes, it is critical that asset prices reflect a volume-weighted average of all trading situations, rather than just one. In comparison to a centralized entity, Chainlink’s decentralized oracle networks obtain and deliver the pricing.

Alchemy Pay: Transactions

Chainlink has been a critical component of Alchemy Pay’s payment gateway system since its initial incorporation in 2020. Retailers must pledge ACH on the network in order to use ACH’s payment facilitation services.

Retailers can utilise ACH systems to accept cryptocurrencies at their online and physical storefronts by collateralizing ACH, which Alchemy Pay converts to the merchant’s required fiat money. Transactions on the system are completed in seconds at a cost of around 30% of what legacy payment systems charge.

Alchemy Pay integrates with merchants via well-known platforms such as Shopify, Binance, and QFPay, which collectively represent over 2 million touchpoints globally.

Chainlink is already assisting with the security of tens of billions of dollars across DeFi and CeFi. Several advantages of Chainlink Price Feeds include the following:

  • Chainlink Price Feeds obtain data from a variety of premium data aggregators, resulting in aggregated prices from hundreds of exchanges, weighted by volume, and free of outliers and suspicious volumes.
  • Secure Node Operators — Chainlink Price Feeds are secured by independent, security-vetted, and Sybil-resistant oracle nodes operated by top blockchain engineers with a track record of reliability, even during periods of high gas costs and network congestion.
  • Chainlink Price — Decentralized Network Feeds are decentralized at the data source, oracle node, and oracle network level, providing robust security against downtime and tampering.

Chainlink Price Feeds benefit from economies of scale, as rising usage enables various projects to collectively use and fund shared oracle networks to get frequently requested datasets. This enables DeFi initiatives to benefit from high-quality data and comprehensive Oracle security at a fraction of the expense of standard feeds.

January 2022: There are 3,831,091,200 ACH coins in circulation and a maximum supply of 10,000,000,000 ACH.

Why Alchemy Pay is Unique?

After reading thus far, many of you must be asking what makes ACH distinctive. To begin, Alchemy Pay is a platform developed by a group of seasoned fiat payment gateway professionals from China and Singapore. Indeed, all of these individuals shared a vision for bridging the crypto and fiat worlds, as well as an interest in the growing crypto industry.

The platform enables participants in both the crypto and fiat ecosystems to achieve flexible, convenient, scalable, secure, and fast global payment solutions through the use of second-layer scaling solutions, decentralised smart contracts, blockchain technology’s consensus mechanism, and on-chain analytics.

Additionally, the Alchemy Pay ecosystem is notable for providing its users with cross-chain payments, various cryptocurrencies, combination payments, escrow payments, peer-to-peer payments, and conditional payments, as well as fiat choices for each. Unlike a few prominent agendas that want to abandon the fiat realm, Alchemy chose to provide an interface that connects the fiat and crypto worlds.

Is Alchemy Pay a Good Investment?

Now that we’ve discussed ACH extensively, some of you may be asking whether it’s a good idea to invest in the platform. If such is the case, then consider the below advise.

As discussed previously, crypto is a highly volatile and unstable market. Thus, it is critical for you to understand that, like any other cryptocurrency on the crypto market, Alchemy Pay does come with dangers, and you should invest only if you are willing to accept those risks and incur any and all losses that may occur.

Alchemy Pay Price Prediction

The price of the ACH token increased by more than 44%. Over the last 12 months, it has returned more than 2,645 percent.

Its price increased by more than 44% on January 10, while its 24-hour volume increased by more than 356%.

Alchemy Pay is strongly capturing social acceptance and according to our prediction, it will continue to develop in the near future.

The Alchemy Pay team still has big plans for the future. It is definitely going to be a strong currency to be considered in the future. If you look at the past of the Alchemy Pay price and analyze it, an ACH price rise of 100 – 200% over the years 2022- 2025 is certainly not much impossible. Therefore, it is not an impracticable forecast to see alchemy pay crypto rise much in the coming future.

Conclusion

The ACH ERC-20 token, developed by Alchemy Pay, is used to promote participation in the ACH crypto-fiat hybrid community. Pledged, awarded, accumulated, and paid as fees, ACH tokens may also confer the right to vote in community contexts’ token management.

ACH offers multiple cryptocurrencies, cross-chain payments, peer-to-peer payments, combination payments, conditional payments, and escrow payments, among others—all in fiat.

If you want to invest in Alchemy, then consider all the factors that we mentioned. For successful investing, you must keep an eye on the latest Alchemy Pay news. So, we recommend to keep yourself updated by visiting crypto websites where you can get the daily news. Doing that will help you to know about changes in Alchemy Pay price and which in turn will help you to analyze future Alchemy Pay price prediction.

At Solutiontales we make it easy to understand the throes of cryptocurrencies, but our words should not be taken as a financial advice. Remember, a wise investor can make money in a bull or bear market when given the right data.