ritajane21
Member
Running online store from past few years and facing problems like payment. Like customers don't want to pay extra extra transactions fee. So is it good that adopt bitcoin is good for this? How can i do this?
Is Bitcoin a good way receive payment as a payment?
- Thread starter ritajane21
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- learning bitcoin
Samuel72
Verified member
Yes bitcoin is a good way of receiving payment and I see it as the best way you can make payment transaction fast and save. Using bitcoin as a means of payment will make things more easier for online store. This is because the transaction does not takes time and you can also get interest as the value of the coin increases.
sincerem
VIP Contributor
With the high gas fee around Bitcoin, i can't encourage anyone to go for Bitcoin payment option, unless such person wants to lose it all. I'm not ready to spend almost half of my funds to settle for gas fee, if I'm paying or a product from those online stores accepting BTC payment. The best coin for me when it comes to lower gas fee, is LTC. And that's what those stores should accept.
btaliat
VIP Contributor
To support you, I cannot make payments with bitcoin even if it is the last option avaliable. The transaction fee of bitcoin is very high and not encouraging. This may be as a result of his high demand and its expensiveness. Jusy like you suggested, litecoins is still the best for payment so as ripples as well.
Nite
Valued Contributor
With Bitcoin, the transaction process becomes quick. I know it's frustrating to wait for funds to become available in your bank. But you don't have to wait with cryptocurrency transactions. And those transactions occur in real time, within few minutes. No one likes to wait in today's world, so high transaction speeds are like a bonus.
sincerem
VIP Contributor
Yes, BTC transaction fee is high, that's why i can't consider it in anyway for transaction formalities. LTC is simply better suited for transaction due to its reduced gas fee. And most of the PTP sites uses LTC to disburse payments to users and I'm comfortable at that. BCH is an option too, it is a lookalike coin to LTC, i enjoy using for transactions cos its low gas fee.
fireflytoken
New member
I would suggest you to use ripple as it has really low transaction fee
ezcashbiz614
Active member
Bitcoin transaction fees are ridiculous right now smh, it basically costs a
minimum of $25 in fees to send any bitcoin! Smh. Any other coin besides
bitcoin would be recommended at this point. Tron and Litecoin are good.
I made two transactions last night using Litecoin and the fees were extremely
cheap, like under dollar each.
minimum of $25 in fees to send any bitcoin! Smh. Any other coin besides
bitcoin would be recommended at this point. Tron and Litecoin are good.
I made two transactions last night using Litecoin and the fees were extremely
cheap, like under dollar each.
sincerem
VIP Contributor
That's very ridiculous to pay $25 for gas fee when sending BTC to another exchanger or wallet address. Hmm, i don't think i can stand such kind of transaction fee. I'll rather convert to LTC, BCH, or TRX which has lower gas fee and send out to another wallet site which i want to send. I use binance, with binance its just easy for me to exchange to any other coin as long as the value is above $10.
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Alexandoy
VIP Contributor
You have to take note that taking Bitcoin or any other crypto for payment can expose you to the risk of the crypto price. With the Bitcoin's price going down the $100 in Bitcoin that you receive today may be worth $95 next week. There's also a fee to pay when you are converting the coin into USD. Check the post of @sincerem above this comment for more.
