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Cryptocurrency VS PayPal in BST

Discussion in 'BlackHat Lounge' started by vinku, Jul 28, 2017.

?

Is it good idea?

  1. Very Bad Idea - Your sales will fall

    6 vote(s)
    75.0%
  2. Average Idea - You will loose some sales

    1 vote(s)
    12.5%
  3. Not a bad idea - shouldn't have impact on sales

    1 vote(s)
    12.5%
  1. vinku

    vinku Jr. VIP Jr. VIP

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    I have good sales here but I don't like PayPal because fees - they steal a lot of money from my customers and me (when withdrawal to bank account)

    My national currency is 3,65 USD, PayPal price: 3,45 USD + fees after transaction and other stupid things like chargeback.

    I wonder if use only BTC (for PayPal users who want to use this, they can load bitcoin wallets with Virwox, Localbitcoin, etc.)

    I don't know if it's good or bad idea ;)
     
  2. Dagreyon

    Dagreyon Jr. VIP Jr. VIP

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    Horrible idea imo. I accept both and I'd say only 1-2% of my transactions are bitcoin. If people had no option, sure that could go up to 5-10% but you're still missing out on the other 90%+. PayPal is a pain in the ass, but people know it, know how to use it and it has several funding/payment options. The same can not be said about bitcoin... Yet at least.
     
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  3. Wahlberg

    Wahlberg Newbie

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    I'd never bother with BTC or any other CC. It's cool that it has its privacy, but you have that feeling that something will happen to your money, especially with everything that's been going on (BTC-e).
     
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  4. MaxiPads123

    MaxiPads123 Newbie

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    Cryptocurrency rocks.
    I prefer payments in crypto from my clients irl (I actually offer discounts for my products for it).
    That said - always offer paypal as most people prefer it. Calculate how much you are losing and surcharge that to your paypal payments (I've calculated about 7%)

    If you are worried about losing profits to price fluctuations I suggest cashing out once per week via localbitcoins.com (sell for cash - for uhhh reasons ;))
     
  5. Sherbert Hoover

    Sherbert Hoover Jr. Executive VIP Jr. VIP

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    Stop being cheap and pay the fees. Is that small percentage really that big of a deal? Consider it a convenience fee for being able to literally increase your capital without having to resort to getting up and actually physically exchanging real, tangible money for goods and services.
     
  6. sturose

    sturose Jr. VIP Jr. VIP

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    Bad idea IMO

    I have never used cryptocurrecy because I still haven't figured out how.

    Maybe it's my age starting to show but reading through the crypto section is like reading a book in Japanese to me!!
     
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  7. Adlad

    Adlad Jr. VIP Jr. VIP

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    Can't you setup a USD denominated account with your bank and then just withdraw the PayPal money directly to that? Then you'd avoid the shitty PayPal exchange rate
     
  8. Gogol

    Gogol Jr. VIP Jr. VIP

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    one problem with cryptocurrency afaik is that you cant chargeback. Thats a big no no for me as a buyer. I would rather pay more than being sorry later.
     
  9. Adlad

    Adlad Jr. VIP Jr. VIP

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    Or just get yourself a Payoneer card and add the bank account they give you (which is in USD) to PayPal. But you will at some point have to pay an exchange fee when you want to withdraw in your local currency. There's no way around that