The financial markets all over the globe came crashing down in 2020 due to the outbreak of the deadly COVID-19. However, it was the same year, when people witnessed tremendous growth in the crypto space. A large volume of new investors felt that the digital currency was a profitable space to invest in that year.
ACH does not enjoy wide acceptance for regular transactions
Some payment tokens like ACH from Alchemy Pay are not accepted widely as an exchange medium for regular transactions. Some such day-to-day transactions include purchasing milk from your grocery shop without a fiat currency. That’s due to the fact that 2 parallel economies co-exist and there is a requirement to bridge the fiat and digital currencies as of now.
A pertinent question here is to know whether there is a means to value the ACH fairly or not. It is strange considering the token’s increasing dominance, courtesy of its technology. Is there any other payment-focused digital currency available?
A Singapore-based digital currency payment solution systems provider, Alchemy Pay permits using cryptocurrencies to pay for products/services. The crypto payments are subsequently converted into fiat currency for the merchant in real-time. It is interesting to note that the ACH token does not appear as the actual exchange medium in this case. However, it is important to facilitate cryptocurrency and fiat transactions.
Incidentally, the ecosystem partners of the network guarantee the token to access the services of Alchemy Pay. It is also used as an incentive for boosting digital currency transactions. That’s because users and merchants are given ACH tokens every time digital currencies are utilized at the sale point. These tokens can be used at a later point to pay fees that are applicable on Alchemy Pay’s platform.