Bitcoin Forum
May 10, 2024, 12:44:45 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Simple question about coinpayments/Bitpay.  (Read 116 times)
AdolfinWolf (OP)
Legendary
*
Offline Offline

Activity: 1946
Merit: 1427


View Profile
March 10, 2018, 12:13:49 PM
 #1


If i were to use coinpayments for my business, would i be able to instantly liquidate the funds once they are confirmed by coinpayments to fiat, or do i then need to withdraw them to coinbase etc.
How does it exactly work? Anyone that has any experiences with this?

1715345085
Hero Member
*
Offline Offline

Posts: 1715345085

View Profile Personal Message (Offline)

Ignore
1715345085
Reply with quote  #2

1715345085
Report to moderator
The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715345085
Hero Member
*
Offline Offline

Posts: 1715345085

View Profile Personal Message (Offline)

Ignore
1715345085
Reply with quote  #2

1715345085
Report to moderator
1715345085
Hero Member
*
Offline Offline

Posts: 1715345085

View Profile Personal Message (Offline)

Ignore
1715345085
Reply with quote  #2

1715345085
Report to moderator
1715345085
Hero Member
*
Offline Offline

Posts: 1715345085

View Profile Personal Message (Offline)

Ignore
1715345085
Reply with quote  #2

1715345085
Report to moderator
1Referee
Legendary
*
Offline Offline

Activity: 2170
Merit: 1427


View Profile
March 10, 2018, 12:48:38 PM
Merited by AdolfinWolf (1)
 #2

I at least know that with BitPay, all incoming Bitcoin sales will automatically be converted to fiat, which is a service that requires a 1% fee per transaction. You could even choose to partly keep Bitcoin, and have the other part be converted to fiat as usual, but that's up to you and your confidence in the market. Great thing is that bank settlements occur on a daily basis, which is great if you need a constant flow of liquidity. I am not exactly sure how things work with CoinPayments when it comes to fiat conversions, so that's something an other member needs to explain in detail.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!