Best currency for digital products?

[pandorababy]

Hey everyone!
What cryptocurrency do you think is best for selling digital products? Has anyone tried accepting crypto payments in their sellvia mall store? Would love to hear your experience and what worked best for you

[hugeblack]

From a store owner's perspective, stablecoins like USDT, USDC, and DAI on the ERC20 blockchain are the best choice because they are fast, have low fees, and are relatively stable.

As a buyer, ETH and LTC are all excellent options, or BTC on LN (due to Bitcoin's average wait time of 10 minutes, which is a long time for everyday purchases). Bitcoin is ideal for high-value purchases like buying a car or a house.

[Zoomic]

I voted for USDT. This is a good option for selling digital products because of its stability. In as much as it is digital products, there are no much risk. But if it's a physical product like car as hugeblack has mentioned, bitcoin will be preferable because it can't be frozen and after a given confirmation, cannot be reversed.

Which region are you selling your digital products? Don't rule out the possibility of using fiat in order not to create a bottle neck in the payment way. Not everyone is comfortable with crypto, unless your digital product is crypto related.

[sergiorus]

I suppose you won't be accepting payments directly, instead you will do it via 3rd party services like BitPay and they always offer variety of payment options anyway.
If you somehow intend to do it directly without middlemen just keep in mind you will have to instantly sell any non-stablecoin assets otherwise you risk to have value of your received payment to go down against fiat.

[Zwei]

What cryptocurrency do you think is best for selling digital products?

since this is a digital product, i would say it doesn't matter which coin you accept, it will depend on what you will do with those coins after.
if you want to get USD or local currency after, stablecoins are the best, so you don't have to deal with market volatility.
if you want to add them to your stash to hold, BTC or ETH would be the better option.

me personally, i would enable all top coins on my store, and let the buyer pay with whatever coin they want, you would also get more sales doing that, and you can just exchange them to stablecoins.

[bitmover]

Hey everyone!
What cryptocurrency do you think is best for selling digital products? Has anyone tried accepting crypto payments in their sellvia mall store? Would love to hear your experience and what worked best for you

I think btc is an amazing option.

One chain. Low fees. 10 minutes isnt a lot imo. Specially if you have an online store as well.

Which chain are going to accept for USDT and USDC?
Tron, ethereum. Polygon, arbitrum? BNB?
 That is just crazy. You will probably have to accept at least 3 of those.

[rat03gopoh]

I'm used to accepting Bitcoin for selling signature codes, and honestly, I'm not too concerned about short-term volatility. I think it's rare for someone to need liquidity faster than the average confirmation time just to procure new inventory of digital goods.

Which chain are going to accept for USDT and USDC?
Tron, ethereum. Polygon, arbitrum? BNB?
 That is just crazy. You will probably have to accept at least 3 of those.

You're right about that, and it's very problematic. I recently had to accept USDT on the Tron network because he thought it was the cheapest, and I agreed. The problem was, my client sent it from an exchange that generally offers low fees, and I received it to a self-custody address that hadn't yet made any transactions. I had to sacrifice up to $4 in energy rentals. That really gave me a bad impression.

[bitmover]

I'm used to accepting Bitcoin for selling signature codes, and honestly, I'm not too concerned about short-term volatility. I think it's rare for someone to need liquidity faster than the average confirmation time just to procure new inventory of digital goods.

Which chain are going to accept for USDT and USDC?
Tron, ethereum. Polygon, arbitrum? BNB?
 That is just crazy. You will probably have to accept at least 3 of those.

You're right about that, and it's very problematic. I recently had to accept USDT on the Tron network because he thought it was the cheapest, and I agreed. The problem was, my client sent it from an exchange that generally offers low fees, and I received it to a self-custody address that hadn't yet made any transactions. I had to sacrifice up to $4 in energy rentals. That really gave me a bad impression.

Unfortunately, Tron just became the most expensive blockchain to use any stablecoin.

Things change quite fast in crypto world. So probably in 2-3 years the vendor would have to accept even one more blockchain or L2 to handle USDT/USDC (if not some other stablecoin, like USAT or whatever.)

[Darker45]

Via a physical store inside a mall? It would be great to have crypto as an additional payment option but just make sure you aren't violating local regulations in doing so. Otherwise, your acceptance might be limited to the use of payment processors, which somehow defeats the point of Bitcoin payment. In terms of practicality, however, it might be the way to go.

Why don't you accept all of them, though? Buyers using crypto might have different reasons to prefer one over the other. But more than what works best for others, how about what works best for you? For example, could your business absorb Bitcoin's volatility by holding for as long as it takes so that you won't convert with a loss?