What's the cheapest way to pay and receive BTC in my local business?

rdluffy

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Quote from: The Cryptovator on March 01, 2020, 04:03:32 AM

Quote from: rdluffy on February 29, 2020, 05:10:42 PM

I thought only leaving BTC adress , QR code and the customer chooses how they pay, but a service / gateway can be a good friend and help more customers to pay in cryptos

Well, then I will suggest to use open source bitcoin payment getaway BTCPAY server. There is no fees or no third party control. You will have full control of your wallet like private keys etc. Also some alt coin you may accept via this server including invoice facilities. If you host yourself then you may even accept bitcoin via lighting network. Otherwise you may have to use third party hosting that listed on BTCPAY official website. You don't need any verification there like KYC. If you can't trust third party host then you have to host server yourself. Just read pros and cons before use third party server.

I'm reading more about this service BTCPAY, it looks really good and probably will fit my needs, I see on the website there's some demo and I'll try
I'll see how to host myself because having the lightning network can be a good thing, finally, and I'll help to promote LN too

The Cryptovator

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Quote from: rdluffy on February 29, 2020, 05:10:42 PM

I thought only leaving BTC adress , QR code and the customer chooses how they pay, but a service / gateway can be a good friend and help more customers to pay in cryptos

Well, then I will suggest to use open source bitcoin payment getaway BTCPAY server. There is no fees or no third party control. You will have full control of your wallet like private keys etc. Also some alt coin you may accept via this server including invoice facilities. If you host yourself then you may even accept bitcoin via lighting network. Otherwise you may have to use third party hosting that listed on BTCPAY official website. You don't need any verification there like KYC. If you can't trust third party host then you have to host server yourself. Just read pros and cons before use third party server.

rdluffy

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Thank you guys, I'm reading everything that you wrote, and I'll put that info and see how can I put on my business
I live in Brazil, and there was an exchange that allows payments without any fees, but they ended this free fee and now it costs a not so friendly fee

I thought only leaving BTC adress , QR code and the customer chooses how they pay, but a service / gateway can be a good friend and help more customers to pay in cryptos

And for you guys asking why do I want to receive in BTC, it`s because it`s related to cryptos

webtricks

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Quote from: squatter on February 29, 2020, 04:03:28 AM

Quote from: joniboini on February 28, 2020, 10:20:25 PM

You can also use something like coinpayments if you want to.

I would recommend against CoinPayments.

I know it's tempting because it's half the price of BitPay and supports a wide selection of altcoins, but the customer experience is horrible. Every time I've ever paid a CoinPayments invoice, it's timed out on me, no matter how long before expiration the transaction was seen or confirmed on the blockchain. Their customer service is a nightmare to deal with too. Honestly, I avoid merchants who use them.

Other than the issues highlighted above, CoinPayments also have one major loophole. I don't remember exactly but it is possible to manipulate the payment widget by changing the currency from say 'BTC' to 'XXX' (don't remember the exact name). All you have to do is edit the front-end javascript by opening 'console' in 'Inspect' and edit the currency field. Then click 'Proceed to Pay' and CoinPayments will detect payments in XXX equivalent which is very less than actual BTC payment. However, on confirmation of transaction, actual BTC value will be credited to account.

To prevent this site admins have to add additional level of validation before setting up CoinPayments API which most of them are unaware of since CoinPayments is usually used by small businesses and individuals.

kryptqnick

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Quote from: rdluffy on February 28, 2020, 07:40:06 PM

Hey guys, I have an idea for a local business, and I'm planning about payments right now

Can you guys share some ideas, apps, or ways with me?

I'll need to receive in BTC (if possible, altcoins too, but mainly BTC) and pay in BTC

The main goal is the transaction have to be very cheap to make people pays in cryptos

Thanks Wink

The easiest way would be to leave a Bitcoin address for people to send you money, and to send money to particular addresses. But yeah, it means no payment gateway, and it would look sort of unprofessional and untrustworthy.
The cheapest transactions come with the Lighting Network. If the amounts of money will usually be below $50, you should consider implementing it. It can be tricky, but not impossible, since Lightning pizza managed to do that. Maybe you can find useful info in their website. Other than that, Bitpay seems the most popular option to accept Bitcoin.

Janation

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I think you should look at your local exchanges.

Here in our country, there are some popular exchanges and they let their users transact Bitcoin without any transaction fees as long as you are using the same wallet or exchange. It is coins.ph, so if you are in our country, Philippines, you should use it since even people that do not know what cryptocurrencies is use that same application.

squatter

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Quote from: joniboini on February 28, 2020, 10:20:25 PM

You can also use something like coinpayments if you want to.

I would recommend against CoinPayments.

I know it's tempting because it's half the price of BitPay and supports a wide selection of altcoins, but the customer experience is horrible. Every time I've ever paid a CoinPayments invoice, it's timed out on me, no matter how long before expiration the transaction was seen or confirmed on the blockchain. Their customer service is a nightmare to deal with too. Honestly, I avoid merchants who use them.

UserU

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Quote from: michellee on February 28, 2020, 10:44:17 PM

I prefer to use bitpay because I already tried it. You can integrate the payment page with bitpay, so when someone wants to make a payment, they can choose the payment system that they want, and if they choose to pay using crypto, they can select pay with crypto, and then the amount of money will be converted into crypto. I don't know with the other third party that will help you to convert the amount of fiat into the crypto.

I don't really fancy Bitpay, as it tends to "overcharge" the user in order to speed up the transaction or it might not go through (as it claimed).

One time I paid 8 bucks because of the message above and regretted when I could just adjust the fee on Electrum to less than 2 bucks on my second TX.

Wexnident

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Does it need to be in crypto? Not to rain on your parade but it IS a local business. I doubt you'd have enough traffic if you only accept BTC/altcoins as payment. And even if it was an alternative, I see no need to do so. If you were a franchise that operates around the globe, possibly, since most ways of payments through virtual wallets have an option of paying through BTC.

Though if you really want to implement your plan, check out Coinbase commerce, bitpay, circle pay and coinomi. Idrk which one of them is cheaper than the other, but in terms of reputation, they should fit the criteria of trustworthiness. If you still need more, just ask google tbh. Then if you found one, come back here and ask for opinions of others who could have possible used it.

Pmalek

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Quote from: michellee on February 28, 2020, 10:44:17 PM

I prefer to use bitpay because I already tried it.

There have been many issues in the past with bitpay including geographical restrictions. BTCPay is a bit harder to set up but a great alternative. If you searched for it you will probably find a lot of instructions how to do it properly. They also support lightning payments.

Rodeo02

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Quote from: rdluffy on February 28, 2020, 07:40:06 PM

(...)

is there are exchange in your country that only give small fees for wallet to wallet transaction?
If there are you should make a partnership with them.

If you dont want you can use xrp for less transaction fees or other altcoin.
Do you need to convert it to fiat right away after recieving a payment? or you are prefered to stored coins in your wallet than in fiat?

michellee

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I prefer to use bitpay because I already tried it. You can integrate the payment page with bitpay, so when someone wants to make a payment, they can choose the payment system that they want, and if they choose to pay using crypto, they can select pay with crypto, and then the amount of money will be converted into crypto. I don't know with the other third party that will help you to convert the amount of fiat into the crypto.

meanwords

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First of all, where are you from? because apps depends on the country you reside in. In the Philippines, there's an app called coins.ph that let's you send or receive coin immediately without fee except receiving or sending from outside source. There's also an app from Canada called Abra which is an app in a phone that let's you receive cryptocurrency. I don't know much about where are you from so I can only recommend this.

joniboini

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There are a lot of threads that discuss this. Most of the time you'll find btcpayserver, bitpay, ethereum etc for the payment gateway. It doesn't take a lot of time to search for them. You can also use something like coinpayments if you want to.

rdluffy

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Hey guys, I have an idea for a local business, and I'm planning about payments right now

Can you guys share some ideas, apps, or ways with me?

I'll need to receive in BTC (if possible, altcoins too, but mainly BTC) and pay in BTC

The main goal is the transaction have to be very cheap to make people pays in cryptos

Thanks Wink

Topic: What's the cheapest way to pay and receive BTC in my local business? (Read 194 times)