You have to make sure you won't get scam by Debit Card Fraud.
Additionally if you really want to start a serious business, make sure to get a professional back-end coder.
Topic: Need some expert opinion here guys :) - page 2. (Read 1487 times)
First thing is you have to check with which country you reside and what are their laws and taxation on Bitcoin, Second you have to be very caution with the payment system, as some of them have mentioned that credit card are reversible as their are lot of stolen credit card users. So you have to think about payment options. Third you have to give a very tight security to your server as it dont get hacked. for this you should have a full knowledgeable team for the site.
I want to develop a site that would allow novices and experts to easily purchase bitcoin using prepaid card or credit card, without having to go through a ton of processes to get their coin & being bombarded with massive fees.
4). I obviously don't know everything at the moment, so what major problems should I look out for when it comes to this?
4). I obviously don't know everything at the moment, so what major problems should I look out for when it comes to this?
The problem is there is market of stollen Visa/MC cards finding ways how to safelly empty the cards without getting caught, so expect high % number of chargebacks by Visa/MC from these stollen cards. Thats why the fees are massive for such exchange.
I really have no idea about how to make a Bitcoin business. But I know that there aren't any Bitcoin lawyers.
Credit Card charge back is a major issue. This is why all major sites like Payza or Solid Trust Pay allow buying BTC only with debit cards or wire. I suggest you pay attention to that.
Two things spring to mind.
You should check the anti-money laundering laws and policy in your country.
Verify that credit cards do not/will not consider an exchange to Bitcoin as a cash advance.
You should check the anti-money laundering laws and policy in your country.
Verify that credit cards do not/will not consider an exchange to Bitcoin as a cash advance.
I live in the United States. Bitcoin is taxed as property by the IRS, maybe I could sell it as that somehow online? not sure, i have a lot of research to do...
Two things spring to mind.
You should check the anti-money laundering laws and policy in your country.
Verify that credit cards do not/will not consider an exchange to Bitcoin as a cash advance.
You should check the anti-money laundering laws and policy in your country.
Verify that credit cards do not/will not consider an exchange to Bitcoin as a cash advance.
Hello, bitcointalk!
I have wanted to own a bitcoin business for a while now. There have been services that come and gone in the past but most no one really offers a simple, easy, reliable way for anyone to buy bitcoin using a credit/debit card. I want to develop a site that would allow novices and experts to easily purchase bitcoin using prepaid card or credit card, without having to go through a ton of processes to get their coin & being bombarded with massive fees. In a relatively quick time.
I am an experienced web developer with a fair amount of knowledge in bitcoin.
My questions:
1). How should I set this up legally so that I am abiding by the laws & paying the right taxes? (I am looking for a bitcoin lawyer, if I can find one)
2). What type of verification could I go through that my visitors know that this is a legitimate service and not some scam site?
3). For security purposes I am thinking of handling all orders manually from my cold storage vault and delivering within 24 hours, thoughts?
4). I obviously don't know everything at the moment, so what major problems should I look out for when it comes to this?
5). What are your overall thoughts & concerns about this idea?
Here are some photos of what I have developed so far
https://i.imgur.com/bgBOlGD.jpg
https://i.imgur.com/rp5iBlk.jpg
I have wanted to own a bitcoin business for a while now. There have been services that come and gone in the past but most no one really offers a simple, easy, reliable way for anyone to buy bitcoin using a credit/debit card. I want to develop a site that would allow novices and experts to easily purchase bitcoin using prepaid card or credit card, without having to go through a ton of processes to get their coin & being bombarded with massive fees. In a relatively quick time.
I am an experienced web developer with a fair amount of knowledge in bitcoin.
My questions:
1). How should I set this up legally so that I am abiding by the laws & paying the right taxes? (I am looking for a bitcoin lawyer, if I can find one)
2). What type of verification could I go through that my visitors know that this is a legitimate service and not some scam site?
3). For security purposes I am thinking of handling all orders manually from my cold storage vault and delivering within 24 hours, thoughts?
4). I obviously don't know everything at the moment, so what major problems should I look out for when it comes to this?
5). What are your overall thoughts & concerns about this idea?
Here are some photos of what I have developed so far
https://i.imgur.com/bgBOlGD.jpg
https://i.imgur.com/rp5iBlk.jpg
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