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Author Topic: Coinbase instead of visa/mastercard for your business.  (Read 996 times)
vipgelsi
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September 27, 2014, 11:40:16 AM
 #1

Im just curious if anyone has made the switch or has also started to use it as a extra payment method. What are peoples reactions and is it worth the savings if any.

Tia
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haploid23
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September 27, 2014, 11:55:31 AM
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It wouldn't be good for your business if you exclusively accept bitcoins. You can't exclude fiat yet because most people still transact in fiat, and most things you buy are still in fiat.

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September 27, 2014, 03:07:41 PM
 #3

Im just curious if anyone has made the switch or has also started to use it as a extra payment method. What are peoples reactions and is it worth the savings if any.

Tia

adding coinbase (bitcoin) as an extra form of payment, i would definetly reccommend. but limiting yourself to only bitcoin. stops you from certain customers. infact having every currency known to man is the best option, not just the legal tender of your own country.

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September 27, 2014, 03:56:10 PM
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Wouldn't be smart to only accept bitcoin as not everyone has adapted to bitcoin...yet.


Yep I've had a bitcoin sign for months, have not made any sales. I'm at an outside flea market, any time someone walking by notices it and knows about it, they just say scam to their friends and keep walking. One day... We will make a sale from the sign.

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psudoBTC
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September 28, 2014, 04:29:07 AM
 #5

It wouldn't be good for your business if you exclusively accept bitcoins. You can't exclude fiat yet because most people still transact in fiat, and most things you buy are still in fiat.
I agree. I think a better idea for the OP would be to accept bitcoin via coinbase and offer, say a 4% discount for customers who pay in bitcoin. I would estimate this to be the lower bound of the effective cost of accepting credit cards (after accounting for fraud and charge backs). This would result in the merchant having the same profit on a per sale basis, however would potentially be able to gain market share due to the permanent discount.
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September 28, 2014, 08:54:56 AM
 #6

If you only accept Bitcoins you cut a big market share. I don't know if it is good foru your business  Sad
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