Topic: [Paybear] What do you think of this new website? - page 3. (Read 670 times)

I looked at the site. So this thread isn't about feedback and suggestions but an ANN thread in disguise?

The project's goal will be phenomenal if it can reach the mainstream.
Although this isn't the first, as long as they can stick to their roadmap and with the right advertising, success will follow.

#3, for me, online payments must be done offchain (via services like coins or exchanges) to avoid delays especially at high network load.
This can make zero transaction fees too because there will be no coins going out and in their system, or they're just doing this in the background but only claiming that we need fees.

Otherwise, cryptocurrencies alone can be used without these type of services as long as the online stores are accepting them.
So what's the point of being the broker if it just process the payments on-chain?

Paybear had partenered with MakerDao, don't know if there's any supporters of makerdao here on bitcointalk to support this.

Your correct on some part. BTW, I am just a supporter hoping to publish their ICO here on BTT since there's no official ANN post for them. They will act just like paypal or stripe, but in cryptocurrency.

*Actually, their target is those eCommerce websites looking to accept cryptocurrency payment. Their API will be installed to an online store allowing us to purchase anything using our Coins without the hassle of converting it to USD first.

Apparently it will be a good product if it actually happens.

Thing with crypto is to cut off middleman because with middleman you have somebody controlling your money and you have to trust that company. Al tough some business find it way easier to simply go with an existing API that will do all the fuzz in the background.

As it goes for the website it has good looking design. I don't really understand the business model you are using. If I understood you correctly: buyers make payments to your address and then those coins are automatically swept to merchants wallet? If all we pay is the sending fee I don't quite understand how will you actually make money, since sending fee is required by the network? I guess you have some fee applied when buyers make their orders?

I had joined their telegram group, and have asked this same question. They say that although BTC as we know have problems in terms of congestion, they have allowed other cryptocurrency to give customer an option.

Looks like it will be a nice product if they can pull it off. Adoption will be their biggest hurdle I think.

A couple of issues, however:

How can they promise "From the customer’s wallet to the merchant’s wallet in a few minutes", when we recently saw the blockchain being so congested that payments were taking 24+ hours.

They heavily feature "low fees" and "free introductory pricing" on the website, but they don't tell you what the fees will be after the introductory period.

Website is accepting multiple cryptocurrency aiming to bridge cryptocurrency holder and online stores. As we can see the main problem right now with cryptocurrency is the mass adoption together with the instability of price and eccommerce having problems with integrating crypto.

FAQ:

1. Why offer crypto payments?

Ans. Crypto payments are fast, secure and anonymous, they are cheaper to process and hence are widely used by businesses in all areas. Best of all, there is no chance of Chargeback or fraud! We are proud to provide one of best crypto payment solutions in the industry to both buyers and sellers.

2. Where is my money stored?

Ans. We do not hold or store your money. All your funds are sent to your wallet that only you have control over.

3. When do I get my money?

Ans. Once the payment from a customer is received, it is automatically sent to your wallet. This is done immediately, there is no “hold”. We do not have access to your funds after your funds are sent. The whole process typically takes 3 minutes. This delay depends on the Ethereum network load and the sending fee you choose to pay.

4. How many transactions can we process?

Ans. The system is designed to process thousands of transactions per second, so it has no limit in the number of payments we can process. However, for DDoS protection reasons, the API calls are limited to 1000 per minute.

5. Do they accept payments from/to exchanges?

Ans. Customers can pay from any wallet, exchange or even a smart contract. Although its not recommend it, we can also use your exchange address for payouts, provided that it’s reusable.