Topic: Do you think low processing fees is more beneficial for merchants? (Read 371 times)

Low to no fees is really good. For sure, no one likes fees, even yourself. If you cash out your money, you still need to pay fees. How much more the merchants? They just have no choice but to pay those fees because other people want those payment methods, and if they don't have those payment methods, they lose customers. But again, we understand that all of us need to earn money, which is why they charge fees, but some are too much because they noticed a lot of people using their services, so their fees went up.

It seems interesting too. Lower processing fees are indeed more profitable for the merchant. High transaction costs can eat away at their profit margins significantly, making it more difficult to run a sustainable business. Yes. A payment gateway that only charges a 0.23% processing fee on transactions sounds very attractive, as it allows merchants to maximize their revenue as (OP) said, but I have never tried it myself and only heard about it. it's a good idea to look into https://coinremitter.com/?utm_source=com&utm_medium=bitcointalks. to be clear because it is a crypto payment method as well.

For me the fastest transaction is the most important. The transaction fee may be higher than other exchanges but it is not worth it. No one wants their money to take a whole day to reach their wallet
Low cost transactions coupled with fast will attract users to join

I am just trying to comprehend what you mean, on a normal note no exchange that doesn't require fee just as you have mentioned above but what is there as regular user of an enthusiasts you should have been able to detects those coin that charges you lesser when making withdrawal because I know too well that bitcoin withdraw is not that favorable nowadays due to the network congestion.

Fees are the major concerns of business so if there is a chance to make them lower then it will greatly benefit the merchants.  They will have more profit since the processing fee is already trimmed down.


We all know that but having the processing fee trimmed down will at least makes merchant interested in accepting cryptocurrency as a mode of payment.  BTC is not highly dependent on fiat banking services, Bitcoin itself can transfer its  own currency through its network or blockchain, merchants are since they have to undergo a conversion process in order to have their fund accepted by non-cryptocurrency establishments.

Transaction fees are not the only obstacle in adoption process. Nearly none of the business initiatives work directly with cryptocurrencies. They all need crypto-fiat transactions, so the problem with btc is that it's highly dependent on fiat banking services which provide this type of transfers.

Processing fees are the costs that merchants pay to payment processors or financial institutions for handling their customers' electronic payments, such as credit card transactions. Low processing fees benefit merchants by saving them money, giving them a competitive advantage, increasing sales, satisfying customers, and improving cash flow.

It is expected that many people will stay away from using crypto for means of payment if the transaction fee is high, and even if they have to, they will prefer to use the crypto to buy for a large amount of buying orders, this is what will make the transaction fee worth spending in the first place.

If my customers are buying bags of cocoa from me with crypto I will go with coins like Dogecoin and Litecoin or Bitcoin, but now that ordinals is making Bitcoin transaction fee to surge it will just be a plus to the other two.

If you want to go deep into such business as a merchant make sure you choose some very cheaper projects for means of payment .

low fees are a benefit to all.. merchants and users

bitcoin itself does not work in percentages. but humans so. no one likes to pay more then a couple % of their goods/services in fees.

so when bitcoin is being re-coded using stupid cludgy crap to push fee's up where by fees average $2-$20.. this stuff then rules out many usage reasons for bitcoin
such as billions of people in 3rd world countries cant even move a few hours of wages because the fee alone is more then those wages. they wont want to use bitcoin for a months wage becasue this more then a few percent of their months wage.

people in first world countries wont want to use bitcoin for normal living stuff like paying a $50 utility bill becasue the fees can be 4%-$40% of the actual bill.

and no the solution should not be to abandon using bitcoin and find another currency that has cheaper fee's.. the solution is actually to sort bitcoin out to be a currency for the unbanked again (currency for even the poor)

asic miners do not touch or select transactions. they just hash a hash. it doesnt matter to them if a block is 1tx of 400bytes full or a 4mb block of 1 monkey image or a 1.7mb of ~3000tx(treated as 4mb of weight). the miners job remains the same.. hash a hash.
asics do not have hard drives so transactions are not an impedance to asics.

as for full nodes. core software is not even compatible with things like windows 98, xp, vista.. so pretending bitcoin should be compatible with hardware pre 2003 is nonsense defence to hold bitcoin to ransom at low tx counts.
we are in 2023 not 2003.. so dont be fooled by the debunked rhetoric of "blocks should not be more then a win95 floppy disk amount"
heck these days billions of people are downloading movies and uploading livestreams of more then 24mb an hour (4mb x 6) so its not like we are in the days of dialup. (unlike what altnet onboarders want you to think, where all they are interested in is getting you to use their preferred other network)


bitcoin should be capable of processing more tx counts per block so that each individual pays less because the total fee going to a mining pool is still a good total fee combined as the reward due to more usage, but with each individual paying less
EG 2000tx paying $20 each or 20,000tx paying $2each.. same total for pool owner but each individual pays 10x less and allows for 10x more users to happily use bitcoin
did you know if you remove the bad math cludge of the 1mbtx data 3mb witness crap to be a proper 4mb space of real ex data with proper signature required formatting rules of a normal 2in 2out. there could be 16,000tx instead of the current ~3000 average being seen as "4mb weight"


blackmailing bitcoin to have less transactions per block via many exploits, byte miscounting, and segregating parts of data where tx cant use the full 4mb properly.. and many other issues experienced in recent years is causing less people to want to transact. this needs to be fixed

and no its not just the FUD about "bigger blocks" its actually to get rid of the byte miscounting cludge and the premium creating stuff that pushes fees up. its about actually counting every byte and ensuring each byte has ethical, efficient and economical reasons for being in a tx. where each opcode has proper formatting rules of expected data that should be used for such opcode. to avoid random junk just being included to fill the space.

also where by fee's are not made to make everyone pay a premium. but instead whereby spammers re-spending very low confirm counts pay more if they want to spam .. thus not everyone pays the premium. just those that want to constantly take up space too often than normal real life usage would show.

in the real world normal people do not use a ATM/debit/credit card every 10 minutes every hour every day. most people only use currency once or twice a day on average. and so if those that want to use it every 10minutes 24/7 should be the culprits paying the premium. not the ones that get the discount whilst causing everyone else to pay the premium

bitcoin is code and code can and did make rules. its just a shame that over the years certain key members of core devs(5 of them now) are too much in power controlling and removing the rules to cause bitcoin to become less useful for the masses. all because they are sponsored to promote that the masses should abandon bitcoin to use other networks they prefer. and we needs to do something to fix this game they are playing

Lower transaction fee is better for crypto merchants because customers will be able to find it easier to pay using crypto and also it is better to avoid any crypto not pass AI transaction fee because customers would be willing to use subscript for payments.

This is why I don't like what happened with bitcoin ordinals, I am one of those people that believe that Bitcoin transaction fee will be much more higher in future, what will witnessed a month ago is nothing compared to what is coming because if ordinals managed to catch the attention of big whales and investors, this will make bitcoin transaction fee Skyrocket and bitcoin miners will be the one to enjoy the ride, not the investors.

Not just the merchants but everyone likes to pay low fees per transaction especially at these times when the quickest transaction could be around $2.

Then that's good and you have to keep reaching those merchants for them to able to use and know you. If they know that there's a service like yours that offers small amount of fee then they might try you out.

It's called a transaction fee by the way, and it plays an important role for merchants who trades large amount of funds, as they tend to spend less and save more on a gateway that charges very low fees compared to gateways that charge very high, but however, there are some gateways/exchanges which I have used which offer zero "transaction fee" when convwrting your Bitcoin into fiat currency such as "Remitano". Because imagine you are to transact $1000, and a 1% fee will be equal to $10, whereas a 0.25% few will be $2.5, which is way lower compared to the first.

Paying fee especially high fee is something that do make people to think of other ways they can make transaction on check network that only requires small fee. Looking at the Ethereum network that would ask users to pay high fee to make transaction even though it's a mini transaction, this had been making investors especially those ones that run transactions virtually everyday to look for other cheap network to run there transactions.


Binance is one of the best exchange for me based in the way the regulate there fees. Even doing p2p transaction does not take any fee but other exchanges like Kucoin and others would charge for every trade you are doing whether swapping, p2p etc.
The fact is nobody wants to pay high fee on a mere transaction that is why we always have alternative to go for when we notice that we are spending too much on transaction fees.

Binance charges on altcoins when selling while bitcoin selling in binance is free. But other exchange platforms charges higher. It is only on wallet transaction that different wallets charges differently, in Electrum the fees might be 2.4 or high. Nobody likes high fee payment platforms to do transaction. Binance is everywhere and their fees are okay for the average person to make buying and selling.

Can you share the name of that platform and the coins you provide? Because their price is very low and therefore they either provide service to a large number of people or get money by manipulating the exchange rate, where you are given a lower exchange rate than you are supposed to get (hidden fees)


You can check out a list here: New Bitcoin Payment processors

Of course there will be no questions about that the lowest withdrawal fees will always brings the best beneficial for the marchant. It is not only in the case of crypto currency but also in the banking system and the banks which provide their services through low fees are beneficial for a merchant. This happened is not only in the case of merchant it is also beneficial for us I always choose the lowest withdrawal fees exchanger. Before the FTX crash I always use that for the lowest withdrawal fees required exchanger. And in the case of traders, the transaction is quantity more than others normal users, so one percentage withdrawal fees are very beneficial for them. However, while looking for low fees, you must be careful to choose the payment gateway is good.

Yes, there is a huge amount of transaction fees in the world of cryptocurrencies. We pay for the input to the exchange and for the withdrawal from it, and the larger the amount, the higher the fee.

We also lose money on converting courses. Many people here live in countries where the main currency is not the dollar, and they have to convert through it.

A great solution was p2p, when all the above steps are excluded for input and output.
I often use this system for binance, and I am grateful to them for the fact that Binance introduced p2p in the country where I live.

Going for low fees would reduce the expensive costs of charges from these crypto exchanges, I will urged us to use network that charges low fees for transactions. Meeting up the expectations of clients is the ultimate priority of merchants and they do not take their chances whenever they come across potential client. Low fees is a big advantage for merchants because they will increase the rate of trading daily and more profits from anticipating in P2P. Buyers would be credited with absolutely full satisfaction from the merchants.

That's an obvious thing (op) that merchants could save more money which is beneficial for them. The difference between different gateways is due to the Blockchain network that your select. Some Networks have lowers fees while some have high fees. Selection of that blockchain network is narrowly downed when you select only one currency as a payment method like BTC then you have to use BTC blockchain. Overall, a merchant can cover fee expenditures by asking clients to cover them from their end. For example, if a client wants to buy something for 40$ then he has to cover the fee which could vary from 2$+. so he has to send extra money to cover them. This could save merchants money.

Marchant can also save more money by withdrawing big transactions like instead of doing micro-transactions he/she should prefer one single big transaction that will reduce the cost of transaction fees for them. They could store that money after withdrawals in some other wallet which offer less fee or no fee according to the availability in their country like here in our country Easypaisa.

You as a merchant, have to select the network of your blockchain like is it segwit or Taproot, etc. well SegWit has lesser fees according to my experience but you should check them individually by visiting them. If you are a successful merchant then using BTC as payment will be of great use, you could use telegram Fee notification bots which will notify you whenever the fee rate will decrease. because these rates depend on the traffic on blockchain and this traffic is not the same all time. so a sharp eye on fees and the behavior of the market could benefit you a lot.

I believe that when a merchant's processing fee is small for each transaction, it is a good advantage for merchants.

      And the good result of the low charge fee will be that the merchants will have many client users in the future. Because that's what we do and what we look for as a client in a payment gateway. Because if the transaction fee is high or expensive, for sure there will be no repetition for a customer like me, and if the fee is cheap, it is also certain that I will come back to it, especially if the service is okay.