Alchemy Pay is currently one of the most watched and most popular crypto currencies of 2021. With low market cap and huge potential, investors are watching to see if this is a good project to yield big returns.
What is Alchemy Pay?
Alchemy Pay was co-founded by payments industry veterans Molly Zheng, Shawn Shi and John Tan.
Trading for Alchemy Pay first began in September 2020.
According to Alchemy Pay, it is the “world’s first” hybrid crypto and fiat payment gateway.
Through Alchemy Pay, users are allowed to receive payments in the local currency of their choice, regardless of how it is sent.
Founded in 2018, Alchemy grew from a practical base of merchant networks, including Hong Kong’s biggest furnishing company, Pricerite, Singapore’s Cé La Vi, Canadian footwear brand Aldo, software technology firm Arcadier, and Midwest Global Asia taxi services. Alchemy Pay has impressive partnerships with Binance, Shopify, QFPay, Visa, and Master Card. Through these partnerships, ACH has increased its end-user and merchant touch-points to millions of customers. In a recent AMA, the CEO of Alchemy Pay said ACH is close to announcing new partnerships with one of them being their biggest partner so far.
What is ACH?
Alchemy Pay’s ERC-20 token, ACH, is used to incentivize the participation of all key roles in the Alchemy Pay crypto-fiat hybrid ecosystem. ACH tokens can be pledged, rewarded, accumulated, and paid as fees--plus confer voting rights in token governance or community scenarios.
What makes Alchemy Pay unique?
The Alchemy Pay system enables participants in both fiat and crypto ecosystems to achieve fast, secure, convenient, flexible and scalable global payment solutions, based on the decentralized smart contracts, second-layer scaling solutions, on-chain analytics and consensus mechanisms of blockchain technology. The Alchemy Pay ecosystem offers transactions with multiple cryptocurrencies, cross-chain payments, peer-to-peer payments, combined payments, conditional payments, escrow payments, and more--including fiat options for each. While some high-profile agendas view fiat currency in an entirely negative light, Alchemy Pay has chosen instead to build an interface--bridging rather than leaving the fiat world behind.
In short, ACH is the bridge and keystone between crypto and fiat currency. ACH allows users to shop at their favorite locations and pay for with their crypto currency, while also allowing merchants to be paid in their preferred fiat currency.
How Many Alchemy Pay (ACH) tokens are there in circulation?
The ACH token maximum supply is 10B. Circulating supply derives from initial allocations of 62% for utility and 38% for stakeholders. Within these broad categories there are locked and unlocked segments related to enterprise transaction rewards, consumer transaction rewards, DeFi transaction rewards, transaction mobility, enterprise partners, and incentives for the team, backers, and advisors.
According to the white papers, at least 4 billion tokens are reserved for rewards to incentivize the initial use of this payment system. In a recent AMA, the CEO of Alchemy Pay said the team was strongly considering a buy back of some of the coins to reward holders as well as using the extra coins for additional rewards.
Where can I buy the Alchemy Pay token (ACH)?
ACH may be purchased on cryptocurrency exchanges such as Coinbase, Huobi, Gate.io, Sushiswap, and Unisawp. It can be traded against fiat currencies such as the U.S. dollar, cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), and stablecoins such as Tether (USDT). The ACH token can be bought and sold on both spot and derivatives markets.
You may have noticed that ACH has a partnership with Binance, but is not currently listed on Binance. This has lead to much speculation and anticipation among holders of the coin. Binance is the largest exchange in the world, and being added to the exchange would definitely increase the cost and value of the coin. When will this listing happen? No one knows, but I personally think ACH is an excellent long term investment.
Can Alchemy Pay reach $1?
Since the cryptocurrency first began trading nearly 12 months ago, it has skyrocketed by more than 250%, according to Coinbase.
To hit $1 in a few months, Alchemy Pay would have to rise by around 10 times or 1,000%.
According to Coinarbitragebot, ACH is expected to hit just $0.10536 by the end of 2021, and is forecast to reach $0.51321 by 2024. This would represent a nearly 400% increase from its current levels.
Meanwhile, Pick A Crypto is a little more bullish and thinks the price of Alchemy Pay can range somewhere between $0.20 and $0.50 by the end of 2021/
Then, between 2022 and 2025, Pick A Crypto thinks it can range from $0.80 to $2.50.
I personally think anywhere from $1 to $2.50 is more accurate for long term predictions. Especially if ACH decides to buy back some of the coins already in circulation.
Please as always, do your own research. This is not financial advice, this is just my opinion, and one of the projects I am currently investing in. Thanks for reading. If you made it this far then please give me a like, comment to let me know what you think about ACH, and give me a follow.