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Comments
Yes, people are increasingly valuing Bitcoin and so there are more and more people who own Bitcoins. Also, you can forget about chargebacks with it.
the more payment options the better.. regular payments with Bitcoin would be annoying though, so I hope you have annual plans.
Yes, we have annual plans. But please explain how annoying?
I dont see why not.
Requires manual intervention every month..
That's not a problem for everyone though. Like me. I do that with paypal, every time. Bitcoin would be easier in those cases, especially if you're using an app, which can read a qr-code.
I would say to go for it.
We've been accepting Bitcoin via Bitpay for months and its been great.
I should ask, what would the downside be of accepting Bitcoin? I can't think of any...
Through services like BitPay which clear in dollars (or local currency)? Seems nothing. Even with their new 1% charges, its a heck of a lot cheaper than other gateways like Paypal or 2CO.
If you accept bitcoins natively, and do not immediately convert to currency, you run the risk of the coin crashing. It's highly volatile and if if you hold coins in your desktop wallet, you may end up losing it all if your disk gets fried. No way to recover dead coins!
accepting bitcoins is easy and about 5-6% buyers now a days pays with bitcoin mostly
but remember out of 6% 2% is fraud or will do something that you don't want.
For a business the only sensible way to accept Bitcoin is to immediately exchange it for local currency. In our case, USD. I completely agree.
Why? Are there any accounting difficulties that can't be solved by keeping accurate records and running a simple script? True that you have to separate revenue and capital gains/losses (essentially currency speculations) but shouldn't take more than an afternoon of hacking.
Some idiot hacking your PC for the wallet's private key! (I'm joking, Bitcoin is great, but I still like PayPal in case that I am scammed into something)
More payment gateways, more customers that you can attract. I haven't tried Bitcoin personally, but seeing how a LOT of people uses it, I'm giving it a try pretty soon. Good luck to you.
don't forget, bitcoin doesn't have "chargeback". So you can forget chargeback from risks users after months, etc.
0 chargebacks, and not hard to add. Whats bad about it?
Thanks to you all for the valuable info.
Now, we accept Bitcoin
Thanks a lot!
Are there any other business decisions you'd like to run past the community?
Namecheap and numerous others are allowing Bitcoin as its a simplistic online E-currency to use. There is more pros to using it than cons so I would recommend it.
I don't know how much of that was serious but you don't keep your private key on a server
Hmm I'm curious out of those who pay via Bitcoin how many abuse the service? Ex. Send outbound DOS attacks, etc
We accept Bitcoin and we don't see increase of abuse over other payment methods.
In fact, as you cannot chargeback with Bitcoin, we see less abuse, but it varies from month to month.