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eddyubachs
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March 19, 2016, 05:26:58 PM |
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Customers don't see any CC fees, the fees are paid by the merchant. The customer only sees that with CC, he could chargeback if anything goes wrong. And, of course, the money he's spending is on free loan from the CC, so there's that.
Merchants offering substantial discounts for BTC payments (to reflect the money they are purportedly losing to CC fees/chargebacks) would motivate bitcoin use, but they rarely do.
Most of the time customers don't see any credit card fees, but some local shops charge about +3% when paying with credit/debit card which is much more honest, although it discourages to use the credit cards there. So it all come to human psychology, when you have to pay +3% on top of the purchased goods versus no fee indicted but included in every purchased item whether you pay with cash or credit/debit card. The credit card is loaded with your bank so whenever you transact there through bank there are large number of fees and taxes charged on you also. That is why we prefer bitcoin in order to stay away from bank fees. Yes also when you transact money from credit card it store your info while using bitcoins no info is stored also it has lower fees. Yes and that is the best advantage of bitcoin that you can transfer money to any corner of the world with low fees and without disclosing your identity. |
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"This isn't the kind of software where we can leave so many unresolved bugs that we need a tracker for them." -- Satoshi
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jula551
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Activity: 42
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March 19, 2016, 06:25:09 PM |
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Consumers can safe ton's of money because of the low fees and no need for additional verification like banks or paypal requires you etc.
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QuestionAuthority
Legendary
Offline
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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March 19, 2016, 07:00:40 PM |
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Customers don't see any CC fees, the fees are paid by the merchant. The customer only sees that with CC, he could chargeback if anything goes wrong. And, of course, the money he's spending is on free loan from the CC, so there's that.
Merchants offering substantial discounts for BTC payments (to reflect the money they are purportedly losing to CC fees/chargebacks) would motivate bitcoin use, but they rarely do.
Most of the time customers don't see any credit card fees, but some local shops charge about +3% when paying with credit/debit card which is much more honest, although it discourages to use the credit cards there. So it all come to human psychology, when you have to pay +3% on top of the purchased goods versus no fee indicted but included in every purchased item whether you pay with cash or credit/debit card. The credit card is loaded with your bank so whenever you transact there through bank there are large number of fees and taxes charged on you also. That is why we prefer bitcoin in order to stay away from bank fees. Yes also when you transact money from credit card it store your info while using bitcoins no info is stored also it has lower fees. Yes and that is the best advantage of bitcoin that you can transfer money to any corner of the world with low fees and without disclosing your identity. Really? And how do those bitcoins end up being in your possession? Do they just pop into your waiting arms out of thin air? You've never bought a Bitcoin, have you? Because I've used about every major Bitcoin exchange that exists now and my personal info is spread all over the world. The exchange fees are as much or more than you would pay using a debit card. |
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Kevin77
Legendary
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Activity: 1652
Merit: 1057
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March 19, 2016, 07:35:42 PM |
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Customers can use the the bitcoin because its firstly very fast and also very secure to pay with it.
You can not get robbed and the fact is also that you are also untraceable if you payed something.
One of the best things for customers is also that its self controllable no banks are involved.
You are right paying with that is secure, also one of the best feature is that it is anonymous while doing any transaction so the thieves can not estimate your wealth and will not plan for to loot you. |
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MaxTax
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March 19, 2016, 07:54:01 PM |
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I believe very well that it may be the best payment option for consumers. Why?
Well it's way cheaper to buy stuff with bitcoins. Everybody likes to have controll over they money and low fees. That's where bitcoin comes into play.
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Za1n
Legendary
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Activity: 1078
Merit: 1011
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March 19, 2016, 08:13:18 PM |
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I came to figure out, why would a consumer/customer use Bitcoins?
You have to pay the 3 cent fee, while you dont have to pay anything when paying with a credit card.
So what is really a benefit for using Bitcoins, customer wise?
Credit Cards do indeed charge a fee, although most times this is to the merchant and not directly to the customer, although the merchant certainly passed this fee along to you in the form of higher prices. While you often will not see direct evidence to this as most places will set their price to offset this fee to be spread out to all customers, some place will offer a discount to certain forms of payment. In my area gas stations are a good example of this concept as cash customers can pay 3-5 cents less per gallon than credit card customers. Some online vendors do the same with Bitcoin payments, by offering a slightly less price when paying with Bitcoin than with credit cards. One example of this is at a precious metals dealer, where they will usually treat Bitcoin payments the same as cash or bank wire as far as fees are concerned and Credit Card users pay a higher premium. Here is one such example from Amagi Metals:  |
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QuestionAuthority
Legendary
Offline
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
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March 19, 2016, 08:27:23 PM |
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I came to figure out, why would a consumer/customer use Bitcoins?
You have to pay the 3 cent fee, while you dont have to pay anything when paying with a credit card.
So what is really a benefit for using Bitcoins, customer wise?
Credit Cards do indeed charge a fee, although most times this is to the merchant and not directly to the customer, although the merchant certainly passed this fee along to you in the form of higher prices. While you often will not see direct evidence to this as most places will set their price to offset this fee to be spread out to all customers, some place will offer a discount to certain forms of payment. In my area gas stations are a good example of this concept as cash customers can pay 3-5 cents less per gallon than credit card customers. Some online vendors do the same with Bitcoin payments, by offering a slightly less price when paying with Bitcoin than with credit cards. One example of this is at a precious metals dealer, where they will usually treat Bitcoin payments the same as cash or bank wire as far as fees are concerned and Credit Card users pay a higher premium. Here is one such example from Amagi Metals: Of course cash options are always discounted over credit options. That's not specific to Bitcoin. I buy gas at ARCO and they charge 35 cents extra to buy gas with a card vs cash. Bitcoins don't cost you extra at the merchant, they cost you extra when you acquire them. If you mine bitcoins then you pay a huge sum for your equipment. If you go to an exchange to get them then you pay the exchange fee. If you go to localbitcoins then you usually pay a premium over the current exchange rate. No matter what, you're paying a fee to spend money unless you use cash for everything in life and that's just not possible. The only difference in payment options is how easy they are to use and what kind of additional features/benefits are built in to the system. Bitcoin is just another one of the fee based payment systems. |
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tampazeus
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March 19, 2016, 08:54:20 PM |
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I believe very well that it may be the best payment option for consumers. Why?
Well it's way cheaper to buy stuff with bitcoins. Everybody likes to have controll over they money and low fees. That's where bitcoin comes into play.
Yes and transactions are fast and you can transact any time you want, and you have access to your funds 24/7 and you can carry as many you want in your wallet. |
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sachung
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March 20, 2016, 04:07:57 AM |
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for me, because it's simple and easier to use  |
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nostal02
Member
Offline
Activity: 112
Merit: 10
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March 20, 2016, 04:32:39 AM |
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I believe very well that it may be the best payment option for consumers. Why?
Well it's way cheaper to buy stuff with bitcoins. Everybody likes to have controll over they money and low fees. That's where bitcoin comes into play.
Yeah i also believe that this is the best payment method available online even though its still limited to online i hope it will be brought offline. |
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jkrules
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March 20, 2016, 04:34:34 AM |
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for me, because it's simple and easier to use Bitcoin is a fast and reliable payment currency. It's safe, easy to convert to fiat or even to be used for buying items and goods. This is the reason why bitcoin will surpass any digital currency in the near future. It's just that simple. |
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pocarime32
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March 20, 2016, 04:35:18 AM |
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One of it's advantages is because you don't have to bring tangible bills and coins and you don't have to worry about robbers because you don't have any bills and coins that they want to rob. lol
Yeah you are right and i agree with you. You only need internet to pay bills or something with bitcoin. And using bitcoin is easy to use and make it simple to pay or buy anything. |
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dragonusa9
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March 20, 2016, 03:50:37 PM |
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One of it's advantages is because you don't have to bring tangible bills and coins and you don't have to worry about robbers because you don't have any bills and coins that they want to rob. lol
Yeah you are right and i agree with you. You only need internet to pay bills or something with bitcoin. And using bitcoin is easy to use and make it simple to pay or buy anything. dont forget that the prices is fluctuate, that the total of BTC can go down a bit and now the of online shops can be paid by using BTC even a little |
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MFahad
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March 20, 2016, 04:06:56 PM |
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The Reasons for customer preference Bitcoins is that it has very low setup charges and almost minimal transactions fee.
Also their identity is not reveled and it is easily available online.
These are the few things that will attract the customers the most.
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JessicaSe
Legendary
Offline
Activity: 840
Merit: 1000
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March 20, 2016, 04:09:04 PM |
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One of it's advantages is because you don't have to bring tangible bills and coins and you don't have to worry about robbers because you don't have any bills and coins that they want to rob. lol
Yeah you are right and i agree with you. You only need internet to pay bills or something with bitcoin. And using bitcoin is easy to use and make it simple to pay or buy anything. Its not easy and simple to use for many people who are not spending more time online, they will use fiat as they are not aware about the new currency like bitcoin. |
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Aamir1
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March 20, 2016, 04:19:52 PM |
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If i am a customer i would love to use bitcoin because of it's easy use and less fees than fiat but only if i am aware of all of them, as a customer still many people doesn't know anything about bitcoin so that could be the reason for them to ignore it and use fiat.
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maxj57634
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March 20, 2016, 04:30:24 PM |
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If i am a customer i would love to use bitcoin because of it's easy use and less fees than fiat but only if i am aware of all of them, as a customer still many people doesn't know anything about bitcoin so that could be the reason for them to ignore it and use fiat.
To let everyone know about bitcoin shop,mall,grocery should put some signage that they accept bitcoin then eventually consumers will know about bitcoin. |
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rahmawati6718
Newbie
Offline
Activity: 56
Merit: 0
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March 20, 2016, 04:45:26 PM |
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If i am a customer i would love to use bitcoin because of it's easy use and less fees than fiat but only if i am aware of all of them, as a customer still many people doesn't know anything about bitcoin so that could be the reason for them to ignore it and use fiat.
To let everyone know about bitcoin shop,mall,grocery should put some signage that they accept bitcoin then eventually consumers will know about bitcoin. in future, goods/services priced in bitcoin will always be much cheaper than price in fiat money, since all the merchants know that their bitcoin income will appreciate over time, makes them some extra profit, even the sale income is lower than fiat. |
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neonshium
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March 20, 2016, 05:53:27 PM |
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I don't see any benefits rather than just an additional payment option for the merchant. Example I don't fiat then I can used my coins.
it's just like a normal money but in different form.
Yes, I also think it is an advance system for virtual use but one of the advantage in it is that it is a global currency not owned by a specific country so will be used and accepted all over the world without any difficulty. |
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jula551
Newbie
Offline
Activity: 42
Merit: 0
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March 20, 2016, 06:03:09 PM |
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I don't see any benefits rather than just an additional payment option for the merchant. Example I don't fiat then I can used my coins.
it's just like a normal money but in different form.
Yes, I also think it is an advance system for virtual use but one of the advantage in it is that it is a global currency not owned by a specific country so will be used and accepted all over the world without any difficulty. simple answer : Bitcoin is more safety than credit cards. and bitcoin fee is very low,, |
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