Zdlee on Nostr: If you own or run a retail bussiness and don't take payments in crypto, why? For ...
If you own or run a retail bussiness and don't take payments in crypto, why? For those that have no desire to hold crypto for any length of time the general answer is on/off ramp complexity.
Some merchant services have integrated this into their system, but the fees are astronomiclly higher than credit card fees. It probably doesn't make sense, to most, to accept a form of payment that ends up costing you 5% more than an Amex swipe.
The other side of that spectrum is self custody and manually exiting these positions. While significally cheaper, it is time consuming and not easily done by somone without a least a certain level of knowledge of how blockchains work, how self custody works, and the tax ramifications of exiting these positions. Most newcomers to this space don't have the will or the time to learn the most efficient way of converting their crypto income to cash.
Most don’t understand that they can accept crypto payments and off ramp to dollars themselves, and not for cheap, but making a PROFIT.
Some merchant services have integrated this into their system, but the fees are astronomiclly higher than credit card fees. It probably doesn't make sense, to most, to accept a form of payment that ends up costing you 5% more than an Amex swipe.
The other side of that spectrum is self custody and manually exiting these positions. While significally cheaper, it is time consuming and not easily done by somone without a least a certain level of knowledge of how blockchains work, how self custody works, and the tax ramifications of exiting these positions. Most newcomers to this space don't have the will or the time to learn the most efficient way of converting their crypto income to cash.
Most don’t understand that they can accept crypto payments and off ramp to dollars themselves, and not for cheap, but making a PROFIT.