Cryptocurrency VS PayPal in BST

Lukmat

Elite Member

Executive VIP

Jr. VIP

Jan 22, 2008

5,794

8,169

• Jul 28, 2017

• #1

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

 

GainRank

Elite Member

Jr. VIP

Dec 1, 2011

3,025

1,921

• Jul 28, 2017

• #2

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.

 

Wahlberg

Newbie

Jul 27, 2017

10

66

• Jul 28, 2017

• #3

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).

 

M

MaxiPads123

Registered Member

May 25, 2016

50

31

• Jul 28, 2017

• #4

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 )

 

Sherb

Ban reason = Abuse of Mods

Dec 26, 2010

1,968

18,139

• Jul 28, 2017

• #5

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.

 

D

Deleted member 720373

Guest

• Jul 28, 2017

• #6

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!!

 

V

VikingAds

BANNED

Mar 16, 2009

858

448

• Jul 28, 2017

• #7

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

 

Gogol

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Sep 10, 2010

11,812

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• Jul 28, 2017

• #8

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.

 

V

VikingAds

BANNED

Mar 16, 2009

858

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• Jul 28, 2017

• #9

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