I started accepting Bitcoin via Coinbase on my website in September 2013. Our monthly portion of revenue in Bitcoin has been anywhere between 40-80%. We recently launched our own Litecoin payment processor.
I began searching for solutions for international payments as my business works directly with independent farmers to market their products to consumers. My bank charges me $60 per wire and Paypal takes about 10% fees for foreign exchange/processing. This is 100's of thousands of dollars just going down the toilet every year.
In November 2013 I began educating the growers in our network about Bitcoin. The response has been great and many are ready to accept payment in Bitcoin as long as we help them get it exchanged to their local currency. I have found a service out of Denmark which I have not used yet called BIPS.ME which exchanges Bitcoin to a long list of currencies for a 0% fee and charges a flat $7.50 wire fee to move the funds to a bank account. This so far has presented itself as the most feasible solution for my company. I would appreciate some feedback from people that have used this service.
When we first started accepting Bitcoin as payment we converted 100% to USD. Now I maintain a minimum account of 2 BTC so I can use for payments to growers and for invoices from vendors. Today I paid my first invoice with BTC and I am so stoked. We are quickly getting on a path where our business can be predominately supported by Bitcoin and further strengthen the Bitcoin network.
Finally, I would like to say thank you to the Bitcoin community. There have been so many helpful individuals that have navigated this path. Also, we couldn't do it without the tea loving customers that have used their Bitcoin to support bringing transparency to the tea industry!
