I think most companies (that don't use payment processors) use their profits to hold crypto.
If you're not in that position have you worked out what's costing you the most? I don't think eth, ltc or doge fees are high but eth is? I'd stop accepting thst if I were you.
Also, try to send transactions with as low a fee as possible as much as you can (btc might confirm on Sundays at 1 sat/byte for example much better than it'll confirm during a Tuesday - that's something you can look at doing).
Holding funds in addresses users pay into shouldn't be problematic either from a security and privacy standpoint imo.
You could always add a bit onto the exchange rate too like a lot of payment providers do so you don't lose out on transaction fees (eg 1-5% might go unnoticed).
Topic: Accepting Bitcoin for a business - page 2. (Read 300 times)
Hello everyone
I have a question for the people that run their own business and they accept Cryptocurrency.
We have multiple services online and we only accept bitcoin/LTC/ETH/dogecoin and USDT (but only 1%-5% of our customers use it)
The problem we are facing is our customers send us the payments and we keep the payments in the store wallet (plisio), we don't withdraw and exchange the money unless a certain amount has been reached, because if we exchange the amounts on every transaction then we will lose a lot of money.
and in the past 3-4 days bitcoin was going down a lot and we lost a lot.
So we are effected by :
1- Withdrawals fees
2- Exchange fees
3- Current market prices
4- We can't HODL or keep the money longer than 7 days because we are a business and we have a lot of expenses/providers we have to pay.
My question is how do you people manage to keep as much profit as you can? how do you not get effected by the market prices?
Thank you in advance!
I have a question for the people that run their own business and they accept Cryptocurrency.
We have multiple services online and we only accept bitcoin/LTC/ETH/dogecoin and USDT (but only 1%-5% of our customers use it)
The problem we are facing is our customers send us the payments and we keep the payments in the store wallet (plisio), we don't withdraw and exchange the money unless a certain amount has been reached, because if we exchange the amounts on every transaction then we will lose a lot of money.
and in the past 3-4 days bitcoin was going down a lot and we lost a lot.
So we are effected by :
1- Withdrawals fees
2- Exchange fees
3- Current market prices
4- We can't HODL or keep the money longer than 7 days because we are a business and we have a lot of expenses/providers we have to pay.
My question is how do you people manage to keep as much profit as you can? how do you not get effected by the market prices?
Thank you in advance!
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