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Author Topic: Up to what discount are you giving up for your customers?  (Read 167 times)
coupable
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February 03, 2023, 04:19:02 PM
 #21

If you are into a local business and accepting bitcoin for payment how much discount are you giving up for your buyers? 1%? 2%? How much discount do you think is ok for your business and won't affect you? Right now I am sure that many people are accepting bitcoin in their business as there are many posts about this, I also read that discount is an effective way to make people want to pay with Bitcoin.
I also noticed that there are many who advertise that they accept bitcoin payments in their small businesses. Frankly, I do not know how they do this, especially since they are citizens of countries that do not support encrypted currencies in the first place, in addition to the technical problems about the method of calculating the price of the product and the method of sending.
If I imagine myself in the shoes of one of them, I imagine that I will be given discounts including transmission fees through the use of the Lightning Network. I can also give discounts on products where the profit margin is large.
It should always be taken into account that the merchant must pay the fees for converting bitcoin to cash later.

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tjtonmoy
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February 03, 2023, 07:14:18 PM
 #22

I also read that discount is an effective way to make people want to pay with Bitcoin.

Yeah, I made a post like this a few months ago. I am not only accepting just Bitcoin, but also all kind of cryptocurrency which are reputable and could be considered as a payment method. I have 3–4 people paying me in crypto but haven't seen any other people willing to pay in that way. So I gave a 5% discount on every transaction which are going to be made using Bitcoin. So I think 5% is not that bad. And it's just to make people curious about this payment method & Bitcoin.
But currently my country is facing some legal issue in using of Crypto. So I had to stop that. Hopefully when we get a green signal from the government, I will start again.
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