Business Does allowing BTC/Crypto payment make a difference?

[Bush Bandit]

I have a video sales site that accepts credit card / GPay. I am considering looking into paying someone to code in an option for crypto payments, but I'm not sure if it will be worth it.

I get a few emails a week from customers who won't use the payment methods on the site for privacy reasons, and instead want a paypal or cashapp link. The amount of customers who email me about this isn't a gamechanging amount of money on the table, but it makes me wonder how many silent customers that might be walking away.

Does anybody have any knowledge or experience with accepting Bitcoin or crypto on a paysite or service, where traditional payment forms were previously the only way?

Do enough people give a shit about this for me to actually see a bump in sales from the privacy-concerned bunch? (I know I can just poll my customers, but I'd like to hear it from merchants too)

Thanks

[Markul]

A few percentage is what you can expect in my experience.

[The Porn Nerd]

Originally Posted by Markul

A few percentage is what you can expect in my experience.

I do not offer it because it is like Markul said and also, after the bitcoin crash, there is less demand for it.

[lockept93]

Originally Posted by The Porn Nerd

I do not offer it because it is like Markul said and also, after the bitcoin crash, there is less demand for it.

First, a correction is a better word in this case than crash.

Second, there is not less demand for it. People who use BTC as payment option and not as investment (like me) do not stop it cause of a different value.

The biggest problem for big companies is the not stable price, that's why Tesla stopped accepting it to not scare aware investors.

If u use a service that converts your Crypto payments instantly to fiat, then it would be dumb to not take the current 5% extra. If u want hold crypto assets as buisness (ie you safe x btc and plan to convert and pay with them next year for your tax bills) then it's a bad idea.

So imo if you not playing on a stock market company level - it's riskfree extra money u miss. + maybe one argument more for costumers who may do an extra step cause they want pay with crypto (anonymity in porn is a factor for many), but just can do it indirectly.

For example I use expensive services to convert my crypto into prepaid credit cards, just cause I need buy a service/product that only accept credit cards. You only see, ah this guy paid with credit card, but in fact I would love to safe 10% extra costs if I could pay directly with crypto.

So I see 0 arguments why u should not implement a crypto payment gateway that auto convert the payment in fiat for u, with a smaller % than credit card fees.

[fuzebox]

Not one difference at all for a consumer facing paysite

The < 1% that join with it, unless you are charging larger amounts for 6+ month memberships (see the membership pricing thread), you'll lose money on them.

[jscott]

Originally Posted by lockept93

First, a correction is a better word in this case than crash.

Second, there is not less demand for it. People who use BTC as payment option and not as investment (like me) do not stop it cause of a different value.

The biggest problem for big companies is the not stable price, that's why Tesla stopped accepting it to not scare aware investors.

If u use a service that converts your Crypto payments instantly to fiat, then it would be dumb to not take the current 5% extra. If u want hold crypto assets as buisness (ie you safe x btc and plan to convert and pay with them next year for your tax bills) then it's a bad idea.

So imo if you not playing on a stock market company level - it's riskfree extra money u miss. + maybe one argument more for costumers who may do an extra step cause they want pay with crypto (anonymity in porn is a factor for many), but just can do it indirectly.

For example I use expensive services to convert my crypto into prepaid credit cards, just cause I need buy a service/product that only accept credit cards. You only see, ah this guy paid with credit card, but in fact I would love to safe 10% extra costs if I could pay directly with crypto.

So I see 0 arguments why u should not implement a crypto payment gateway that auto convert the payment in fiat for u, with a smaller % than credit card fees.

Totally agree. Not only that, but in the future if/when BTC & Lightning is adopted, at least you'll be far ahead of everyone else on what to use, how to use it, and how to best optimize everything.

To just shrug it off because a couple ppl haven't succeeded with it or used it properly is a big nono. (remember, some still have no clue about L2's like Lightning & Liquid)

Look into it more, research more, there are great use cases for it and payments is one of them

[LetterTwenty7]

It is always useful to have an additional payment option, especially if you can implement it easily, for free, or for a good price. I do not own a website, but if some webmaster wants to pay for written content using USDT or BTC, why not give him that chance.

[candyflip]

I run an online cannabis delivery service. All my transactions are in BTC and I have people in their 70s using Cash App and their phones to buy and transfer it. Haven’t had a single issue, as my vetting and registration process covers this.

[k0nr4d]

I've seen it work with some success on cam sites. I don't think it would make much of a difference on paysites.