Bold words from a company that has HIGHER fees than Paypal!
Is Bitpay charging over 2.9% ??
Yes, if you don't use USD... just look at their page.
I'm not sure if anger and frustrations should be the emotions that make you use Bitcoin - but I guess "anything goes" is also a marketing principle, right?
Bit-Pay is less than PayPal at all price points. for sales < $20, substantially less.
https://bit-pay.com/accountingHelp.htmlFor me, paypal would be charging 37 cents on a $2.50 transaction (a single bumper sticker shipped in the US), bit-pay charges me 2.5 cents. Paypal on small orders is 10x as expensive as bit-pay.
I actually have shipped out orders that cost $1.48, so paypal would be charging about a 20% fee on those orders. Screw paypal.
"The total fee for payouts in CAD, EUR, GBP, and MXN is 3.99%."
If I sell a GPU for
150€ with PP, I need to be paid
155.64 EUR according to
http://www.gregledet.net/ppfcm.htmlIf I sell it via
bit-pay, I need to be paid
155.985 EUR. Above, it gets even worse.
Might be nice for selling bumper stickers or stamps, but a flat 3.99% fee is still more than PP charges - and you can get discounts there as merchant as well, depending on your volume.
Also BitPay charges you more than 2.5 cents if you sell it for 2.50 USD and actually want to get USD as you would get with PP as well. If PP invented their own internal "PayPalcoin" - would you like to get paid in that?! Most merchants probably won't, I guess that's one of the great things about BitPay in the first place, that you don't have to even care about Bitcoin at all to offer it to your users and you'll never even have to touch a single Bitcoin.
By the way, the risk that bit-pay freezes funds is also there - they can even freeze BTC funds, since payment is not done directly to an address that you control as far as I understand.
Anyways, not to defend PP in any way (I only use it to pay myself and if I ever get payments there, I usually pull them as fast as possible) - but if I want to sell something for EUR and get EUR for it, PP is still cheaper above ~100-150 EUR than BitPay. The possibility that your account gets frozen or payouts get delayed is there in both systems, BP has the advantage that they are still small though and might have to care more about their customers. Also they should have no problem with reversed incoming transactions...
Well, back to the video:
Let's assume, I like it (for whatever reason - I'm angry at my bank, charging me for simple transactions, I like the general idea of a "free" money...) - what should I do next? There is no "Buy Bitcoins now with BitPay" or "Go to ... and get them at the current daily rate" or anything else. I'm excited now about Bitcoin but completely without a next step I should take. This means I'll either google, check Wikipedia or simply "like" the video and forget about it...