Conversion rate loss for accepting crypto only and not card

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password01

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Hello

I want to start providing services soon but struggling to figure out a way to get paid via card. The problem is that if I do start taking card I don't know how to cash it out without using my own KYC.

It is much easier for me to accept crypto (BTC) only.

But at what cost.. I am sure I will lose customers, but to what extent, do people know?

Thankfully in my country Revolut is common, which enables people to easily purchase BTC and send it to an address... and I think everybody knows somebody with Revolut now - so that would be a massive help.

Thank you
 
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Choosing crypto only will severely affect conversions tbh. Most people aren’t using it for day to day transactions, find a way to accept card or PayPal somehow
 
You lose 80% of the business without card and paypal.
 
As per my experience, if you offer alternative payment method like Payoneer, Skrill etc, you won't loose much. Most people use crypto these days which really helps to increase the conversion rate.
 
Few exchanges allow you to do that, but before with MEXC I didn't need KYC and was limited to 1BTC deposit and withdrawal per day
 
password01 said:
Hello

I want to start providing services soon but struggling to figure out a way to get paid via card. The problem is that if I do start taking card I don't know how to cash it out without using my own KYC.

It is much easier for me to accept crypto (BTC) only.

But at what cost.. I am sure I will lose customers, but to what extent, do people know?

Thankfully in my country Revolut is common, which enables people to easily purchase BTC and send it to an address... and I think everybody knows somebody with Revolut now - so that would be a massive help.

Thank you
Click to expand...
You can start accepting payments with CC using nominees. In this way your identity will be protected. Without cards you'll not go far.
 
password01 said:
Hello

I want to start providing services soon but struggling to figure out a way to get paid via card. The problem is that if I do start taking card I don't know how to cash it out without using my own KYC.

It is much easier for me to accept crypto (BTC) only.

But at what cost.. I am sure I will lose customers, but to what extent, do people know?

Thankfully in my country Revolut is common, which enables people to easily purchase BTC and send it to an address... and I think everybody knows somebody with Revolut now - so that would be a massive help.

Thank you
Click to expand...
Some want anonymity and they are okay with loss in form of conversion fees for this.
 
Totally get where you’re coming from — crypto is way easier to manage privately, but yeah, not offering card payments can definitely hurt conversion rates, especially with less tech-savvy customers. That said, since Revolut is popular in your country, that could actually bridge the gap pretty well. Maybe include a quick how-to on your site for those unfamiliar with buying BTC via Revolut — that could ease the process and keep drop-off low. Long-term though, finding a semi-anonymous or low-KYC card processor might still be worth exploring if you really want to maximize reach.
 
It will completely depends on what you are selling, as you didn't mention it.
If it's a crypto related service, you wouldn't suffer
If you are trying to sell blenders and mixers, your conversion rate will be probably 0%.
 
You're absolutely right to think about the trade-offs between accepting only crypto (e.g., BTC) vs offering credit/debit card payments.
 
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