is there recurring crypto payments for paysites

[habibjr]

was thinking about implementing crypto as a payment option for my paysite. Is there anyway to do recurring subscription payments using cyrpto and which is the best merchant account to use for crypto?

[fuzebox]

nope....

[habibjr]

There is a demand for it so, I am sure there is.

[jscott]

It's being built on Bitcoin Lightning Network.

[zijlstravideo]

Originally Posted by habibjr

There is a demand for it so, I am sure there is.

But how would that work?
I can't automatically transfer some crypto out of anybody's wallet because I don't have their private key.

Hosting your own webwallet would be a solution where users can transfer prepaid amounts to, since you would own their keys. But that's quite the liability.

Or a custom smart contract. But that would require a custom token, which is also not ideal as users will likely want to use BTC or any other token they already own.

[CashtoCode_Gio]

My thoughts being crypto ignorant

-Probably Crypto users (like Cash users) are avoiding credit cards so they can also get rid/avoid rebilling

-0.0123 whatevercoin could be 14.99USD today but it could be something very different in 30 days

[AmeliaG]

Why would it not be technically possible to do smart contracts with commonly used smart contract-friendly crypto like ethereum?

[habibjr]

crypto.com has it but they dont allow adult merchants
https://blog.crypto.com/crypto-com-p...ments-feature/

[kuprum]

TRY THIS ONE

KYC free

- If you want to accept cryptocurrency payments from anyone, anywhere in the world
- If you need to accept payments without a website
- If you need additional payment methods with low transaction fees
- If you just want to have your own secure cryptocurrency wallet


Multiple choice of integration methods:

- payment page form
- static address form
- link billing

you can make a recharge function. And when the subscription ends - the user will recharge

[AzteK]

Yep it's being built for Solana.

https://www.hel.io/

[jscott]

Originally Posted by AzteK

Yep it's being built for Solana.

hel.io

They definitely could get more users & attention though if they succeed in recurring payments. The disadvantage to using SOL is the network, being centralized, gets turned off sometimes.

[AzteK]

Originally Posted by jscott

They definitely could get more users & attention though if they succeed in recurring payments. The disadvantage to using SOL is the network, being centralized, gets turned off sometimes.

look it has more upsides than down sides specially for TPS and low transaction fees

while still in beta they do experience some downtime

they are becoming less "centralized" because they're able to recover their network and their nakamoto coefficient is improving

during their "downtime" they do more transactions than any chain

[jscott]

Centralized chains will always have high TPS capacity than any decentralized. But you're right, have to weigh out the up/down sides. We all probably can agree that recurring crypto payments would be a benefit to all of crypto & payments. And they should even be able to bridge payments with other coins to SOL so X coin can pay through SOL with instant conversions.

[habibjr]

Originally Posted by AzteK

Yep it's being built for Solana.

https://www.hel.io/

good to know.. If Solana has it im sure Ethereum network would have one?

[candyflip]

Revuto on Cardano.

[Panty Snatcher]

I can build one on ETH and BSC

Would a fee of .75 cent plus a 6% of the amount be reasonable

Plus a signup fee.

[habibjr]

6% is a bit high for crypto especially when there no worries for chargebacks, refunds,etc. I think 1-3% would be ideal using the main networks such as ethe, btc

[Nitzer Ebb]

I think GoUrl - Bitcoin Payment Gateway / Processor for Your Website. White Label Bitcoin API has something like that for member sites.

[Panty Snatcher]

Originally Posted by habibjr

6% is a bit high for crypto especially when there no worries for chargebacks, refunds,etc. I think 1-3% would be ideal using the main networks such as ethe, btc

So would .50 + 3% be effective?

I have a dapp prototype atm

[AmeliaG]

Originally Posted by Nitzer Ebb

I think GoUrl - Bitcoin Payment Gateway / Processor for Your Website. White Label Bitcoin API has something like that for member sites.

Your mileage may vary, but I believe those guys have a poor record of getting the crypto you earn to the correct wallet.

[Panty Snatcher]

I write my own contracts and dapps , so I know they will deliver the funds.

When payment is collected , I calc the fee ,

Send the Net to the vendor's wallet and the fee to mine.

Then a postback to the vendor

[Nitzer Ebb]

Originally Posted by AmeliaG

Your mileage may vary, but I believe those guys have a poor record of getting the crypto you earn to the correct wallet.

Yes, I am still confused how they figure out bitcoin payments since my address changes after each payment received. From what I understand, they have internal wallet A tied to my actual bitcoin address and some sort of minimum amount they collect. Then they make a payment to me. After that, I'm lost how they know my next address for payments? Any idea?

[jscott]

Originally Posted by Nitzer Ebb

Yes, I am still confused how they figure out bitcoin payments since my address changes after each payment received. From what I understand, they have internal wallet A tied to my actual bitcoin address and some sort of minimum amount they collect. Then they make a payment to me. After that, I'm lost how they know my next address for payments? Any idea?

For bitcoin recurring payments to work, but still keep the benefits of being your own bank, and trustless permissionless transactions, the monthly fee must be made manually, not automatically, the only way to do this automatically (that i can think of) is if you kept a sort of hot wallet and the 3rd party had full access to pulling from that, which is a huge no-no if you're interested in keeping your funds safe.

[zijlstravideo]

Originally Posted by Nitzer Ebb

Yes, I am still confused how they figure out bitcoin payments since my address changes after each payment received. From what I understand, they have internal wallet A tied to my actual bitcoin address and some sort of minimum amount they collect. Then they make a payment to me. After that, I'm lost how they know my next address for payments? Any idea?

An extended public key (Xpub key) can be used to create a new address, others can use it to create a new wallet address on your behalf as well (if you would share your Xpub key).

Since the public key (and also the extended public key) is derived from the private key, only the person with access to the private key can access the funds of those addresses.

This makes it possible to host your Xpub key on a server, have some script create a new address for each payment request, without the risk of exposing your private key. Basically a cold/hot wallet concept.

This is usually the route someone would take, if he or she would want to accept BTC payments without a third party.

Not exactly sure how they deduct their fee though. Perhaps the customer sends the BTC to a wallet owned by them first before taking their cut, and send the remaining BTC to your wallet... Something like that, I guess.