Accepting Bitcoin As Payment?

[Nathanto]

Does anyone here have any recommendations for a payment processor that can accept Bitcoin and pay out in Sterling? I'm aware of BitPay but they have a £1000 minimum settlement figure which is more than I'd be comfortable risking at any one time.

 

[antropy]

Does anyone here have any recommendations for a payment processor that can accept Bitcoin

Bitcoin is sooo late 2017. Does anyone even use it anymore?

 

[antropy]

@antropy True. Its not so popular anymore

Exactly, so my advice to the OP: forget Bitcoin, ****** is dead, at least for now.

 

[James Rae]

Why would anyone use a currency that could disappear at any time with no trace of who was involved? ... I have never understood the benefit... except to an illegal activity. Use something PayPal or Stripe or at least a bona fide payment method.

 

[antropy]

Why would anyone use a currency that could disappear at any time with no trace of who was involved?

I used it for a while to pay freelancers in Ukraine where PayPal is banned. But it was shocking - fees were high, it was complex to transfer at each end, price was volatile - all of the worst things to have from a currency. And then https://transferwise.com/ came along and Bitcoin was totally useless.

 

[Nathanto]

Exactly, so my advice to the OP: forget Bitcoin, ****** is dead, at least for now.

Why would anyone use a currency that could disappear at any time with no trace of who was involved? ... I have never understood the benefit...

It always surprises me when other business owners are so dismissive of something like this.

There's around 20 million Bitcoin owners out there and they're sitting on around £80b worth of Bitcoins with very little to spend it on. The nature of what I sell means a, for example, 10% or more drop in value between receiving payment in Bitcoin and converting to GBP isn't such a big issue. If there's a fairly simple, risk-free way to accept Bitcoin on my site and get paid in GBP then that sounds like a no-brainer opportunity to me.

 

[antropy]

There's around 20 million Bitcoin owners out there and they're sitting on around £80b worth of Bitcoins with very little to spend it on. The nature of what I sell means a, for example, 10% or more drop in value between receiving payment in Bitcoin and converting to GBP isn't such a big issue. If there's a fairly simple, risk-free way to accept Bitcoin on my site and get paid in GBP then that sounds like a no-brainer opportunity to me.

Fair points, but to be fair to us you didn't really say anything about *why* you wanted to accept Bitcoin and those are good reasons indeed.

 

[James Rae]

Well @Nathanto I guess that means there are 20 million people who have been convinced Bitcoins are the way forward. Still they are untraceable and used for illegal activities. Anyone wishing to be associated with such a system are free to do so.

 

[dan19900]

Why would anyone use a currency that could disappear at any time with no trace of who was involved? ... I have never understood the benefit... except to an illegal activity. Use something PayPal or Stripe or at least a bona fide payment method.

Can only disappear if the world's electricity supply is switched off.

The 20 pound notes in your pocket are used for illegal activity much more often than Bitcoin

 

[James Rae]

It's not worth arguing although £20 crimes are not quite what I was referring to. Large amounts of cash cannot be used cross borders quite the way bitcoins can

 

[dan19900]

It's not worth arguing although £20 crimes are not quite what I was referring to. Large amounts of cash cannot be used cross borders quite the way bitcoins can

They'd then have to register with an exchange and supply ID to sell the bitcoin...

 

[Nathanto]

Well @Nathanto Still they are untraceable and used for illegal activities. Anyone wishing to be associated with such a system are free to do so.

Do you have any idea how much stolen cash is floating around the UK at any moment in time? To give you an idea there was £40m stolen just from cash machines last year. Obviously much of this is untraceable and much of it used for illegal activities. Yet somehow I don't think you would be quite so uptight about accepting cash within your business...

 

[James Rae]

Do they really HAVE to register? :/
https://www.buybitcoinworldwide.com/kb/buy-bitcoin-without-verification-id/

 

[dan19900]

To sell the bitcoin they need to register.

 

[scaryice1]

It's a good way to be anonymous but that's not stable and the price of the bitcoin is going down so ..

 

[Corjr]

Bitcoin Acceptance Among Retailers Is Low and Getting Lower