Can you pay for car repairs with Bitcoin? Why not :)

btc78

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Quote from: NotFuzzyWarm on June 05, 2024, 03:21:21 PM

Quote from: btc78 on June 05, 2024, 06:07:10 AM

How do car repairs cost? On average they aren’t that big especially if it’s just minor changes and does not require a whole new change of parts. So I really doubt if many would be keen on paying through bitcoin with very expensive transaction fees if they are just going to be paying a few amount anyway.

Not sure where you live but in the US car repairs ARE expensive. eg, new tires for my Jeep -$800, brake job including a rotor & caliper replacement - $450, radiator replacement - $650, etc.

Considering MasterCard/Visa typically charge between 3-5%, the BTC fees are tiny.

Thats a lot of money , just for a set of tires will cost you 800 dollars? damn here you only have to spend lower than 200 dollars for a pair of good tires .. and all of that expenses you mentioned is even lower than 70% here in my country so indeed that we have really a difference from the prices ..

but having said either Big or small payment but the thought of paying this in Bitcoin is indeed what I love to do (once available in my place)

Iranus

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Quote from: Roseline492 on June 11, 2024, 02:08:58 AM

Quote from: Wiwo on June 05, 2024, 03:04:06 AM

Nice idea to implement bitcoin payment into your business, but the truth is that,not many customers will want to pay for repairs using bitcoin, since bitcoin transactions fees could sometimes exceed that of banks, and if I am to patronise your shop, I will not pay with bitcoin, and rather pay with fiat currency, reason is that, in my country, banks transfers are free and instant, most especially when using a fin tech wallet.

Exactly what I was thinking because it will be very difficult convincing customers to pay with Bitcoin, though I love the idea but considering the fact that every transfer of Bitcoin normally involved fees so it will actually be difficult for people or rather customers to accept that mode of payment and also another barrier to could also possibly affect that method is that not all the customers would actually know what Bitcoin is all about and there is no way customers will accept a mode of payment they have no idea of because there countries Bitcoin is not generally accepted and perhaps it could be that is only few groups of people that are into it there so making it a mode of payment will actually not work.

In addition to high transaction fees, many people do not know about bitcoin, these are barriers that make many people not want to use bitcoin to pay when repairing cars at OP's store. I think bitcoin's volatility is also a barrier that makes people not want to use it for payment. If yesterday you bought bitcoin for 70k$ but today it dropped to 67k$, would you want to use bitcoin in this case? Obviously, no one is generous enough to do this because we would have to spend more money compared to using fiat.

OP is doing the right thing because at least he is making bitcoin more popular but convincing people to use bitcoin as a means of payment is still a challenge.

Betwrong

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Quote from: re-start on June 09, 2024, 12:54:27 PM

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I have many customers throughout the day, but most of them prefer traditional banking payment methods. (This is likely due to the fact that the average age of my customers is above 45.) However, I want to share every transaction my customers pay with Bitcoin here and hold it.

I will tell you, mate, this is exactly because of that. People above 45 are hesitant to accept something that's new, especially if it relates to money and payment methods. Print out some flyers and distribute them in places where young people usually hang out. They will be going to your place even if they have a similar place closer to them just because they can with Bitcoin at you place. And if will be their first payment with BTC they will remember it for the rest of their lives and will be telling their friends about.

Smack That Ace

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Quote from: erep on June 10, 2024, 12:23:24 PM

Quote from: Smack That Ace on June 10, 2024, 09:04:22 AM

It's been almost a week since you accepted bitcoin for your car repair shop, are any of your customers using bitcoin to pay you? I think it's not just a matter of age, but your area may not have too many people who know and use bitcoin. Or according to some of the comments above, it could also be that many people are not willing to spend their bitcoins these days. People are focusing on accumulating as much bitcoin as possible rather than spending because everyone is looking forward to the upcoming bull season. No one wants to miss out on the opportunity to make more profits from bitcoin.

The main reason is that the majority of the population there does not know how to use bitcoin for payments, so they ignore the bitcoin payment option but time will tell that they will consider using bitcoin for payments because of the lower transaction costs. However, the OP explained that some people are interested in paying using bitcoin with low fees and 5% discounts, I think some customers have switched to paying with bitcoin instead of paying conventional banks with higher transaction fees.

I salute the OP for providing bitcoin payment option services, we will support and appreciate you, I hope you are committed to providing the best solution to your customers for low cost and fast payment options using bitcoin

Maybe people in that area don't know about bitcoin or some other reason but I disagree with OP saying that bitcoin transaction fees are lower than bank transaction fees. How much are banking transaction fees in your country? and OP how much is the bank transaction fee where you live, can you provide evidence to say it is higher than bitcoin? I find this absurd because even in my country, bank transaction fees are not higher than bitcoin transaction fees if we only use daily payments.

If it's true that bitcoin transaction fees are lower than banks and everyone is switching to bitcoin, and he even offers a 5% discount when paying with bitcoin instead of fiat. Why aren't any customers using bitcoin to pay at OP's car repair shop?

wiss19

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It's a good move. By accepting Bitcoin payments and telling others about cryptocurrency, you're not only reducing transaction fees but also contributing to spreading your knowledge about cryptocurrency to others. Your effort is consistent with the original spirit of Bitcoin which aims to decentralize finance and
make privacy more accessible to transactions by integrating Bitcoin payments into your repair shop.

Cryptocurrencies are contributing to the growth of the e-ecosystem. Keep up the good work and make more people aware of cryptocurrencies and Bitcoin who knows you may introduce a new wave of cryptocurrencies in your area and that is going to boost the overall adoption of Bitcoin in the long run.

Keep up the good work.

Roseline492

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Quote from: Wiwo on June 05, 2024, 03:04:06 AM

Nice idea to implement bitcoin payment into your business, but the truth is that,not many customers will want to pay for repairs using bitcoin, since bitcoin transactions fees could sometimes exceed that of banks, and if I am to patronise your shop, I will not pay with bitcoin, and rather pay with fiat currency, reason is that, in my country, banks transfers are free and instant, most especially when using a fin tech wallet.

Exactly what I was thinking because it will be very difficult convincing customers to pay with Bitcoin, though I love the idea but considering the fact that every transfer of Bitcoin normally involved fees so it will actually be difficult for people or rather customers to accept that mode of payment and also another barrier to could also possibly affect that method is that not all the customers would actually know what Bitcoin is all about and there is no way customers will accept a mode of payment they have no idea of because there countries Bitcoin is not generally accepted and perhaps it could be that is only few groups of people that are into it there so making it a mode of payment will actually not work.

re-start

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Quote from: Out of mind on June 10, 2024, 11:14:12 AM

I think it's the best decision you've made, of course it's really attractive that you've created a payment system with Bitcoin. This may be the first person in the PDR repair shop that you have created a bitcoin payment system, in my opinion. Of course, I think that if the customers like it, they will pay you with bitcoins in this new system, and I think that the bitcoins that you will get from here, it will definitely be a good high profit from here. Moreover, we know that nowadays banks or various payment systems require a lot of fees, which makes people reluctant to pay in them. But it is possible to make payment in Bitcoin very easily and at low cost, which will attract people here and people will pay in Bitcoin in a new way. Of course now with the digital world digital currencies are becoming more popular and because of your initiative many people will be introduced to this bitcoin, surely this is a happy moment for you.

Yes, I'm the first person at the PDR repair shop who accepts Bitcoin for payment. This can also serve as an advertisement for my business. This new payment method will distinguish my store from others and attract new customers. It's a win-win situation for me Cheesy

re-start

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Quote from: Zoomic on June 09, 2024, 01:48:36 PM

This is a nice introduction but I don't think I can ever make payments for goods or services to anyone with bitcoins. I am at that stage where I am struggling to accumulate bitcoins so I can get huge returns. In the case of huge transactions fees from traditional banks, bitcoin transactions fees are not lesser either. It is better I pay huge transactions fees with the traditional banks than lose coins I should be investing instead to get returns. bitcoin is meant to be a means of payment originally but right now, I have seen an opportunity with bitcoins I don't want to lose. Maybe when I accumulate enough bitcoins, I'll start making payments with them.

I think like you, and at the moment, I wouldn't want to use my bitcoins for daily expenses. I think a lot of people feel this way too. As I mentioned earlier, these posters are mostly for promotion, and my goal is to encourage more people to join the world of Bitcoin and digital currencies.

erep

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Quote from: Smack That Ace on June 10, 2024, 09:04:22 AM

It's been almost a week since you accepted bitcoin for your car repair shop, are any of your customers using bitcoin to pay you? I think it's not just a matter of age, but your area may not have too many people who know and use bitcoin. Or according to some of the comments above, it could also be that many people are not willing to spend their bitcoins these days. People are focusing on accumulating as much bitcoin as possible rather than spending because everyone is looking forward to the upcoming bull season. No one wants to miss out on the opportunity to make more profits from bitcoin.

The main reason is that the majority of the population there does not know how to use bitcoin for payments, so they ignore the bitcoin payment option but time will tell that they will consider using bitcoin for payments because of the lower transaction costs. However, the OP explained that some people are interested in paying using bitcoin with low fees and 5% discounts, I think some customers have switched to paying with bitcoin instead of paying conventional banks with higher transaction fees.

I salute the OP for providing bitcoin payment option services, we will support and appreciate you, I hope you are committed to providing the best solution to your customers for low cost and fast payment options using bitcoin

Out of mind

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Quote from: re-start on June 05, 2024, 02:14:15 AM

After realizing the high bank fees at my PDR repair shop, I decided to add Bitcoin payment as an option. I noticed that my customers were interested in paying with Bitcoin after I put up posters in my shop. Although no transactions have been made yet, many customers ask me about the posters and how to pay with Bitcoin. I'm happy to introduce them to the world of digital currencies. In the past,I've shared my knowledge of Bitcoin with my friends, and I'm delighted to have the opportunity to do the same in my PDR shop Cheesy

[img width/=200]https://talkimg.com/images/2024/06/05/cSs7v.jpeg[/img]

I think it's the best decision you've made, of course it's really attractive that you've created a payment system with Bitcoin. This may be the first person in the PDR repair shop that you have created a bitcoin payment system, in my opinion. Of course, I think that if the customers like it, they will pay you with bitcoins in this new system, and I think that the bitcoins that you will get from here, it will definitely be a good high profit from here. Moreover, we know that nowadays banks or various payment systems require a lot of fees, which makes people reluctant to pay in them. But it is possible to make payment in Bitcoin very easily and at low cost, which will attract people here and people will pay in Bitcoin in a new way. Of course now with the digital world digital currencies are becoming more popular and because of your initiative many people will be introduced to this bitcoin, surely this is a happy moment for you.

laubeaud

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Yes, I can pay for car repairs with Bitcoin. Some restaurants are accepting Bitcoin payments, and being able to pay for my car repairs with Bitcoin is great.

Smack That Ace

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Quote from: re-start on June 09, 2024, 12:54:27 PM

Quote from: bettercrypto on June 08, 2024, 01:12:18 AM

If I had a lot of bitcoins, I think it would be fine, but I only have a few bitcoins at the moment, so it's not practical in these times in my situation because we are currently in a bull run and also facing OP. Maybe that's okay if we're in a bear market.

But if you have a lot of customers who want to try to pay with Bitcoin, that's in your favor because right now we can say that the price value of bitcoin has dropped a little bit. Don't always sell it; instead, hold it long-term.

I have many customers throughout the day, but most of them prefer traditional banking payment methods. (This is likely due to the fact that the average age of my customers is above 45.) However, I want to share every transaction my customers pay with Bitcoin here and hold it.

It's been almost a week since you accepted bitcoin for your car repair shop, are any of your customers using bitcoin to pay you? I think it's not just a matter of age, but your area may not have too many people who know and use bitcoin. Or according to some of the comments above, it could also be that many people are not willing to spend their bitcoins these days. People are focusing on accumulating as much bitcoin as possible rather than spending because everyone is looking forward to the upcoming bull season. No one wants to miss out on the opportunity to make more profits from bitcoin.

SickDayIn

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This is awesome, great work.

As a recommendation could I suggest that you use an updated address, it will cost you less in fees. Also don't write out your address on paper, someone will probably make a typo and coins will be sent to the wrong address, you'll find yourself in a difficult situation. Use a QR code, and I would recommend laminating the paper, and only sharing it with people when they are actually ready to make the transfer. Otherwise you run the risk someone will print out their own QR code and put it over the top, I read an article about this back in the day where someone did the same thing at a coffee shop.

Zoomic

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Quote from: re-start on June 05, 2024, 02:14:15 AM

After realizing the high bank fees at my PDR repair shop, I decided to add Bitcoin payment as an option. I noticed that my customers were interested in paying with Bitcoin after I put up posters in my shop. Although no transactions have been made yet, many customers ask me about the posters and how to pay with Bitcoin. I'm happy to introduce them to the world of digital currencies.

This is a nice introduction but I don't think I can ever make payments for goods or services to anyone with bitcoins. I am at that stage where I am struggling to accumulate bitcoins so I can get huge returns. In the case of huge transactions fees from traditional banks, bitcoin transactions fees are not lesser either. It is better I pay huge transactions fees with the traditional banks than lose coins I should be investing instead to get returns. bitcoin is meant to be a means of payment originally but right now, I have seen an opportunity with bitcoins I don't want to lose. Maybe when I accumulate enough bitcoins, I'll start making payments with them.

re-start

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Quote from: bettercrypto on June 08, 2024, 01:12:18 AM

If I had a lot of bitcoins, I think it would be fine, but I only have a few bitcoins at the moment, so it's not practical in these times in my situation because we are currently in a bull run and also facing OP. Maybe that's okay if we're in a bear market.

But if you have a lot of customers who want to try to pay with Bitcoin, that's in your favor because right now we can say that the price value of bitcoin has dropped a little bit. Don't always sell it; instead, hold it long-term.

I have many customers throughout the day, but most of them prefer traditional banking payment methods. (This is likely due to the fact that the average age of my customers is above 45.) However, I want to share every transaction my customers pay with Bitcoin here and hold it.

re-start

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Quote from: Wakate on June 06, 2024, 11:31:10 AM

If we are talking about high fee for transaction then but has one of the highest fee because I don't think the bank would be allowed to remove high fee that could be more than $5 from just transaction. Since you have choose to run it with the option of Bitcoin transaction for anyone that is ready to pay for your services through Bitcoin, that's a good move and it makes sense towards the adoption of Bitcoin. This could make more people see a good reason why they ought to invest in cryptocurrency. There are people that are still skeptical about Bitcoin investment and it's not bad when they see service like yours being confidence to invest in Bitcoin

Yes, I have made these posters to capture the attention of my customers, and don't want to coerce anyone into paying with Bitcoin. However, today I felt disheartened. One of my clients inquired about Bitcoin, and while I was explaining it, he asked, "Is this the hamster coin?" Despite Bitcoin being the father of all digital currencies, our community seems to be more acquainted with Hamstercoin.

angrybirdy

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Quote from: re-start on June 05, 2024, 02:14:15 AM

Snip

That's great! by doing that, you will let other people know about cryptocurrency and that means that they will be having knowledge on how to have bitcoin as an investment and as a means of payment. I'm just curious, how about the transaction fee? Has anyone ever paid you with bitcoin? aren't they at a loss in the transaction fee? because most of us here, don't want to use bitcoin to pay for services because of the high transaction fee, they usually prefer cash or credit card.

Churchillvv

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Wow, you must be taking bitcoin really serious and I love your idea, from this you can even invest more in bitcoin with this strategy you don't need to stress with CEXs and DEXs, when trying to buy as customers will pay in BTC, you can just move them to your cold wallet if you have one. And this is another opportunity that spreads bitcoin around just as your customers keeps asking you will have to share with them your knowledge.
You deserve some accolades. Well done mate.

Additionally, just as the first person said you have to switch to SegWit address to reduce fees, profit maximisation mindset..

CODE200

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Quote from: Mrbluntzy on June 08, 2024, 08:49:38 AM

If Bitcoin is not being fight against in your region and there are more people that knows about Bitcoin in your region, you will surely have rich guy customers that will pay with
Bitcoin to get their car fixed. Customers love to get discount and from the discount you have agreed to offer the people that will pay in Bitcoin, you will surely have them coming. Some people that are not even familiar with Bitcoin will buy Bitcoin so that they can pay you with it for the sake of the 5% discount. Keep it up @OP, kudos.

Rich guys coming to your shop or rather OP's shop isn't a guarantee just because he's offering a 5% discount on repair if they pay in bitcoin, that's not how it works in this kind of setting. The people that would be talking about bitcoin with OP and will inquire about it will definitely be a thing in this situation and I think that's the best one for the whole community in my opinion, look at it this way, the more people are talking about bitcoin because of OP's innovation in his payment model, then there's more people that have the potential to invest in bitcoin, then the more we would see contributions of OP for the increase of demand in bitcoin.

obuoma

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Quote from: Plaguedeath on June 05, 2024, 02:38:21 AM

How high the bank fees in your country? Huh

I don't think it could be higher than Bitcoin fees if we're talking about daily usage.

Right now the average Bitcoin fees around $2.5 per transaction, I consider it's really high especially if you live in a country where $2.5 is worth of 4 meals.

But, let's see how it goes, you're also show the Bitcoin address here which make anyone can check it anytime.

I think he already know that it is cheaper and more profitable to accept fiat. Maybe accepting Bitcoin is his own way of supporting and popularizing Bitcoin in his city. He further gave a 5% discount which a very good incentive and also shows he is ready to incur the loss just to achieve his aim which is making Bitcoin popular and enticing to people. Sacrifices such as this is highly appreciated because that is how we can make Bitcoin appealing to people as they use it in their everyday life.

Topic: Can you pay for car repairs with Bitcoin? Why not :) (Read 753 times)