Wallets or ? to accept CC payments AND crypto

dkbit98

legendary

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Quote from: Bahed on February 13, 2022, 08:12:17 PM

Meanwhile, I'm looking for a Wallet ( please advise if I'm barking up the wrong tree?) that will accept CC payments as well as holding my Crypto. Something that the IRS is not (yet) privy to.

There is no such thing as single non-custodial wallet that is accepting both Bitcoin and credit card payments, so you can either separately accept them or maybe use some third party centralized services with accounts.
Using one of those centralized services probably means that you will have to report everything to IRS, or they will report that instead of you, and you don't really own any coins received on accounts like this.
I don't know what exactly you are using for receiving credit card payments, but there are many crypto payment processor with Btcpayserver being best, open source and without any third-party.

bitmover

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bitcoindata.science

Quote from: Bahed on February 13, 2022, 08:12:17 PM

Does anything like this exist? I've been doing searches in DDgo, mostly and I'm not finding anything. Any ideas?

Quote from: mk4 on February 13, 2022, 11:02:25 PM

You're pretty much stuck with using separate apps/platforms for receiving payments if you want to remain "private". Accept dollar payments as you normally do, and use non-custodial wallets(like Electrum) for bitcoin payments. Pretty much any custodial platform that the IRS isn't "privy" to yet will also be pursued by them sometime in the future anyway.

I think that if you want to accept bitcoin payments you cannot use a personal wallet such as Electrum.

Accepting payments is far more complex than that. you need to generate one differnet address for each payment, track if payment was made so you can send your goodies, etc.

You can do that with https://btcpayserver.org/

It is free, open source and easy to use. It is worth checking.

NeuroticFish

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Quote from: Bahed on February 13, 2022, 08:12:17 PM

I'm looking for a Wallet ( please advise if I'm barking up the wrong tree?) that will accept CC payments as well as holding my Crypto. Something that the IRS is not (yet) privy to.

If you want to avoid IRS you need your own wallet. And if it's a more complicated/bigger platform you have, you may have to consider something like BTCPay (if it's simple, then indeed, Electrum will do).
Even more, since Bitcoin is pseudo-anonymous (hence can be tracked), it may be that what you are actually interested in is... Monero (an altcoin, privacy oriented).

mk4

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Paldo.io 🤖

You're pretty much stuck with using separate apps/platforms for receiving payments if you want to remain "private". Accept dollar payments as you normally do, and use non-custodial wallets(like Electrum) for bitcoin payments. Pretty much any custodial platform that the IRS isn't "privy" to yet will also be pursued by them sometime in the future anyway.

Bahed

newbie

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Merit: 1

I accept payment for services I provide in check, credit card, cash - so far no crypto payment... yet. PayPal, Venmo, Square, et. al. were caught up in one of the federal bills that past last spring (possibly the infrastructure bill) that requires those companies, starting this year to report to the IRS, all sales totalling over $600... not per transaction but in aggregate for the year! Those companies are going to lose a LOT of business. Meanwhile, I'm looking for a Wallet ( please advise if I'm barking up the wrong tree?) that will accept CC payments as well as holding my Crypto. Something that the IRS is not (yet) privy to.

Does anything like this exist? I've been doing searches in DDgo, mostly and I'm not finding anything. Any ideas?

Thanks forum - I just joined and looking forward to learning and someday providing info for others some day.

Topic: Wallets or ? to accept CC payments AND crypto (Read 121 times)