More service providers only accepting crypto payments..

[jon99]

Hi all!

I've took a break for few years. Recently got back and was surprised that a large portion of service providers here in the marketplace is accepting crypto payments ONLY. I was from the era where everyone was only using paypal.

Isn't sending crypto payments expensive vs paypal? Here in my country, to send $15 in bitcoin for a service, I would be paying extra $6 in fees.

If the fees are high, may i know why it is getting popular?

Am I missing something?

 

[HoNeYBiRD]

The reason is very simple. PayPal payments can get charged back, crypto payments can't. Crypto come a long way, more and more people use it, at least in IM. Since many sellers burnt themselves with PayPal in the past, they opted for crypto. Not talking about the fact that PayPal can suspend accounts, if the seller is caught selling something, which is not in line with their rules, such as social media services.

 

[M0n3y.]

Here in my country, to send $15 in bitcoin for a service, I would be paying extra $6 in fees.

How are you paying this much in fees?

 

[PetalSEO]

How are you paying this much in fees?

I think the seller and buyer can negotiate on the fees and get an secure payment way , but trust me this is so Good !

 

[kunter]

PayPal sucks, they are to big and need a cut. Cryptopayments will help, no chargebacks, no disputes buy stupid buyers and cheaters, clean transactions. The fee mention in this post is not valid at all, you pay only a few cents to receive bitcoins and most other crypto.

 

[Chris Newman]

Nowadays PayPal hates non-physical digital products & incase of any disputes regarding the same, PayPal nowadays favors the buyers even though there would be absolutely no problems with the non-physical digital products.
Many buyers are now aware of this PayPal "loophole" & raise fraudulent chargebacks, knowing that PayPal will favor the buyers. Hence, many sellers in the world realized that instead of turning their business into a free charity, it is better to accept crypto. Nowadays apart from Bitcoin, many sellers accept crypto that are in BSC / Tron networks and fees for those are very low.
And even with Bitcoin, most of the time the fees are low, except when Bitcoin network has a surge happening in transactions.

 

[novaaccs]

Don't just look at crypto payment as btc. There are altcoins such as BCH, LTC, TRX, USDT that charge less than $1 per transaction (network fee). In fact, if you use the same exchange with the campaigns of central exchanges in various periods, you can transfer with 0 commission, for example BUSD on binance. I don't understand those who only accept BTC and ETH. There may be privacy, but I get away from such places immediately, I can't pay that much fee

 

[FannyG]

Crypto is the future!

 

[Borderless Hustle]

Most people are without a paypal account because paypal being paypal, they'd rather steal some money from you and then move on to the next victim.

 

[Bronzesmith]

Fees aren't a problem if you decide to use a different network such as AVAX, MATIC, BNB etc. Transactions fees can vary from fraction of a penny to $0.3 max and the transfer speed is almost immediate