Topic: Anyone over here accepting Crypto as payment ?... (Read 283 times)

In my opinion, accepting Bitcoin as a payment for a service is not at all appropriate, precisely for the reason you mentioned - high fees. I personally tried accepting payments for a service in crypto, but the result was the same as yours, not a good idea.

Yes some of people accept crypto as payment, because it is also an investment.
Here in our country you can pay bills , hotel bookings, plane tickets etcs. using crypto.

I do accept crypto payments but not all the time. I do Web designing and I am giving them the option to pay using this technology but not a mandatory since I have observed that majority of my clients are still not into cryptocurrencies and I respect that. I could convert they fiat payments into crypto if I would want to so it is somewhat not a problem. There are institutions which are now accepting and paying their employees cryptocurrencies but are also optional. Both of these scenarios, I have mentioned 'optional'. That is simply the reality in which not all people will prefer to enter this industry if in the first place they are not really into it. I do share my point of view regarding this technology such as its advantages in which I do see. Well, who knows in the future, maybe they will have the initiative.

I don't think accepting Bitcoin to pay for services and goods is a very good idea, especially when it comes to small amounts of money. There is simply no point in paying fees, which can sometimes be higher than the amount transferred.

We accept Crypto as payment for investments on our platform https://crowdforangels.com. So if a company is raising money in GBP, an investor can use his ETH, BTC, Dash, etc as payment for the investment (£1,000 for X Eth)

We do this through a process of steps

1) The system automatically quotes the amount which the user intends to invest in a minimum of 5 cryptocurrencys (this uses live market data, with a small adjustment for costs)
2) The user then sends their chosen crypto and the exact amount to the payment gateway
3) After a number of confirmations on the network, the crypto is settled and then immediately converted into fiat (as the investment offering is quoted in fiat, we do not take exchange risk by holding cryptos. If a pitch was asking for a crypto, we do not necessarily need to convert)
4) The fiat is then withdrawn to a segregated client account
-- process complete--


We have used this process since 2017 and as an FCA regulated company, the blockchain works well for transparency. However, negatively refunds can be expensive and if the network is congested and the user has set a 'low' gas fee, for instance, the price quoted and the price actually exchange can be different.

In all honesty, I wish we did more crypto transactions and held crypto on account as well.

Andrew

If i would have own shop i will accept only LTC or other popular coins with low fees. BTC is too expensive

I prefer to be paid this day's by cryptocurrency. Though not all altcoin. Most times, I prefer stable coins. Since btc got to $40,000 and above I don't accept it anymore because of it's volitility.

Initially when I starting selling stuff on exchange for bitcoin, I usually recieve the fund in my personal wallet then I'll have to send them to the exchange if I wanted to exchange them for fiat to meet some daily needs, just as you have complained I got losses due to fees but after finding out it's ok to recieve the funds on exchange and exchange then to whatever coins (for lower fees) or fiats for withdrawal, the profits got secured.

Currently all my crypto related service fees are been received on exchange although I don't keep them there for long, this has nothing to do with my personal funds that are bought just for holding for the future. These are funds that'll likely be used for trading or reinvested into other businesses that it's in the cryptocurency space. You can make use of exchange and weigh the difference too.

In Croatia, a company has developed a very high-quality crypto payment application - paycek- https://paycek.io/?l=en
As far as I know, a lot of apartment renters, retailers and others already use this application that allows their users to pay for their services in crypto.
Users pay in crypto, the application directly converts crypto to fiat and service providers get local currency.
Everything is explained in detail on the website and this application contributes to the promotion of crypto payments in Croatia.

One good example would be social media services. I have seen lots of them who are accepting crypto payments and they are using either Coinbase or Coinpayments. In the Philippines, Coins PH also offers various services such as plane tickets, hotel bookings, game credits, etc., where Bitcoin is accepted as mode of payment.

I believe that there are not many payments using bitcoin and I agree with you, that those who have an online store that may accept bitcoin are of course very limited. usually one online store will be connected to another so that it looks a lot even though in one online shop only. it takes time to be able to all be connected and be able to accept bitcoin as a means of payment.

But for traditional shops I believe they still want to use fiat as a means of transaction and they are used to seeing real money and it can be calculated immediately, even though of course it is not practical especially in a pandemic like this fiat money is one of the triggers for transmission. it took time to get them to participate.

but there is good news that they are able to accept digital money issued by private parties in their own country, which might be the forerunner of the entry of bitcoin to replace it at the right time, at least to train them not to accept fiat money .

They have different stores online who are accepting the bitcoin as payment but not all because we are kn the adopting of this new digital payment and It takes more years for all the businesses online or even  traditional who is more less percentage to accept the bitcoin because they usually use fiat for the payment transaction they do on their business. We just remember that once a lot of business accept and adopt bitcoin we must expect the price will increase.

I really want to have an online shop that accepts Bitcoin payments, but until now it has not been realized because it is related to legality
in my country. Unfortunately my country only legalizes crypto as a digital asset, and prohibits using crypto for payments. But if we look
at the volatile crypto prices, It's best if someone wants to accept crypto payments, they should immediately convert them to fiat. In order
to avoid volatile markets, from several articles that I read, many merchants owners do this when receiving crypto payments. But as the opening
post said too, crypto transaction fees are quite large when used as payment. So it takes a lot of consideration to accept crypto payments.

We at https://enterprisewebcloud.com Enterprise Web Cloud accepts bitcoin for all our services. Website Design/Hosting and Digital Marketing

because crypto is an emerging thing and some merchants do, probably paypal will too soon and maybe amazon and ebay, i am accepting fiat for years now and i BELIEVE in the crypto market thats why id like to offer it as a payment, yes i already am on with blockonomics !...

thanks,

I used to buy/sell game and/or service accounts back in 2014 in some other forums. Was dealing with Minecraft accounts mostly, some time even others such as Netflix or Spotify. Was using Bitcoin back then because it's somewhat anonymous and all transactions were final.

Didn't want to use my Paypal account to avoid leaking any personal details. Plus, transactions can be reversed.

Depends on your location, but if I was to accept one. What would I do after receiving crypto? Convert them to my local currency specifically PHP in my country.
Now about the gas fees and stuff? Well there are 3rd party apps that helps me do that without waiting too much like Coins.ph. If you reside in the Philippines, you should know this app.
Going from BTC to USDT is indeed rough. I would just consider doing that in day trading.

don't get me wrong 'lol'...
in my country, there is a rule where cryptocurrency can only be used as an investment asset and cannot be used as a means to pay, and if it violates it will be imprisoned and fined. I have a family and I'm waiting for the right moment first to accept crypto payment.

Here in Canada , we have an online advertisment site , much like Criags List used to be .It's called Loelist.   Most of the Ladies advertising their services accept bit coin.  They lso have to pay Leolist in bitcoin fir their ad. I found this out last fall when I decided to sell my BTC, I bought them for $500.00 2 years ago ,and didn't pay attention to them when they didn't go up in value right away.
I heard on the radio they were becoming a bit more valuable and my $500 had risen to $750 if I cashed out.
I calculated how many visits to my favorite girl that would allow me.

I started looking for other things to buy with my BTC, but very few retail outlets were taking BTC.
I was about to book a visit with Alina, when the price started going up ,Wow, this was great . I had long ago written my investment off as a bad move , now things were getting interesting .
f that I kept watching as BTC grew in value ,until one day ,Jan 8 2021 ,at the top of that surge ,I traded my now $2200 in BTC credit with Alina .
I hardly used up much of my credit when BTC started leaping even higher . Alina was so happy I'd paid her in advance I started getting special consideration, . It evolved into a personal relationship ,and we now go skiing together ,and stay over at each others homes .
I lost out quite a bit by selling at what appeared the top oif the market, but Canadian 2200 soon became about $3200 id I'd held on. All in all , things worked out great . I don't have any more BTCm,but I'm not paying to date my girl anymore , it;'s all free . Yipee ! 

If everyone thought like you, probably no one would accept BTC as a means of payment. You as a seller need to offer as many payment options as possible, and crypto is just one of those options. Of course, it costs you nothing to explain to your potential customers what Bitcoin is and how they can use it to pay for what you sell - and in the end you can profit because someone might want to pay that way.

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When paying online with BTC, there is no need for the transaction to be confirmed in the next block - and the standard transaction that will be confirmed in 6 blocks in the last few days ranges from $4-$8. There is no point in constantly spreading the half-truths that transactions cost as much as $50, anyone who knows what they are doing will pay at least 10 times less and will not wait too long to get first confirmation.