Bitcoin Forum
June 24, 2024, 03:50:33 AM *
News: Voting for pizza day contest
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Economy / Economics / Re: How does Bitcoin Point-Of-Sale work? - for novices on: June 02, 2016, 02:05:16 PM
.
OK. So I compleeeetely misunderstood. See? That's why I posted  Smiley

Do you mean you wish customers to continue paying by credit card, but have the funds converted to Bitcoin instead of deposited into your bank account?

Yes! This is exactly what I wanted. So services such as Coinbase and BitPay are in case where [my] customer already owns Bitcoin and wants to purchase my product via Bitcoin - correct?
.
2  Economy / Economics / How does Bitcoin Point-Of-Sale work? - for novices on: June 02, 2016, 03:51:30 AM
I started a small business with a retail location and would like to accept Bitcoin for purchases (via customer credit card). I've read about services such as BitPay, Coinbase, Coinify, etc... and I still don't understand how the actual, physical process works. Since most people in regular communities are new to Bitcoin, they will want to know the details and I need to be able to explain it to them in a way that will make them feel comfortable with the process.

Currently, when a customer wants to pay via credit card:

1. I plug the little card reader into my phone
2. Launch the processor's app
3. Enter amount of sale
4. Swipe customer's credit card
5. Get approval and customer signs
6. Processor takes money from customer's credit card and directly deposits the amount into my linked bank account.

- How does this work with a Bitcoin processor? Do I launch their app. and key in the customer's credit card info?
- How does the conversion work? Does the processor take money from customer's credit card in fiat, convert to Bitcoin at current rate and deposit Bitcoin into my wallet?
- I'd like to stop taking credit cards being linked to a bank account. I'd like to take customer payment via their credit card and get Bitcoin into my wallet ... no more banks!
- I'd like to be able to do this in several countries and prefer a processor that is non-U.S. based. Is this possible?

Many thanks to all in this community for helping me understand this.
3  Economy / Trading Discussion / Re: Broker Info on: April 20, 2016, 01:19:32 PM

[ProfiForex] ... those spreads are huge also. But will add to the list

You might have looked at the "big" symbol quotes. That's actually what's great about ProfiFX. They have 4 different sets of quotes for each currency that you can pick from to accommodate your trading style. Example (as of right now):

EURUSDecn - spread:  0.4 pips  (ecn account)
EURUSDv     - spread:  0.9 pips  (variable spread account) - the spreads are actually very low
EURUSD      - spread:  2.0 pips  (fixed) - good for news traders as spread doesn't increase at news time and off-peak hours
EURUSDbig  - spread: 10.0 pips (not sure what this is... never asked... don't care... it's too big)
4  Other / Archival / OOOPS on: April 19, 2016, 01:45:12 AM
Sorry Mod... Can you please delete this thread. I'm new and tried posting a reply in a different thread but instead accidentally started a new thread. Sorry about that. Thanks.
5  Economy / Trading Discussion / Broker Info on: April 19, 2016, 01:35:04 AM
Hi all;

I posted a long one with reviews of 4 brokers and my session timed out and I don't feel like re-typing all that again...

Briefly, the thread is missing one of the top 3 (in my experience) brokers... ProfiForex (www.profiforex.com)

I can also vouch and say nothing but praise for SimpleFX and Trader's Way.

I'm a full-time day-trader/account manager and have numerous client account with all 3 of the above with 2+ years with each broker. If anyone has specific questions about them, I'll be happy to help.
6  Other / Archival / Other Brokers on: April 19, 2016, 01:20:20 AM
Hi all;
I posted a long one with reviews of 4 brokers and my session timed out and I don't feel like re-typing all that again...

Briefly, the thread is missing one of the top 3 (in my experience) brokers...  ProfiForex (www.profiforex.com)

I can also vouch and say nothing but praise for SimpleFX and Trader's Way.

I'm a full-time day-trader/account manager and have numerous client account with all 3 of the above with 2+ years with each broker. If anyone has specific questions about them, I'll be happy to help.
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!