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How to Take Crypto Payments?
I'm trying to create a website where users can exchange goods/services and pay each other in crypto, where the platform takes a small % of the transaction. How is a platform like this supposed to take crypto payments (say DOGE/BTC/VTC/ETH/ADA), ideally without a payment processor like BitPay?
Secondly, is it possible to do subscriptions as well?
- retrac 5y agoFor a small scale, one relatively secure, but somewhat inflexible, approach is to generate a large batch (say 1 million) public keys (use a deterministic wallet like Electrum uses so they're all governed by one secret key) and just store them on the payment platform site, issuing one per order. You have a distinct address and no private keys have to be online. If you want the whole deal of getting USD or similar in your bank automatically, I would suggest investigating payment processor services that wrap all of that for you.
- arenaninja 5y agoFor getting USD, I'm a Salvadoran citizen where BTC is legal tender so I think I can exchange all coins for BTC and exchange for USD at the bank But I would want a long term solution that I don't need to maintain
- deleted 5y ago[deleted]
- heckingoodtimes 5y agohttps://flexa.network/ https://flexa.network/
- ralston3 5y agohttps://opennode.com https://opennode.com Literally one of the easiest, trusted ways to send/accept BTC (for merchants and individuals)
- arenaninja 5y agoThe problem with US payment processors is you're subject to US laws and penalties, but for the most part my customers won't be in the US and I'd prefer to avoid the jurisdiction
- cpach 5y agoSo what jurisdiction do you prefer then?
- arenaninja 5y agoTarget market is LATAM, maybe outside of five eyes is enough?
- y3gits 5y agoWow I will try
- cpach 5y agoHonest question: Why not use a regular payment processor instead? E.g. Klarna (HQ in Sweden) or SecurionPay (HQ in Switzerland). (There are several other alternatives, those are just two examples.)
- cpach 5y agoAddendum: Another alternative that might be interesting: https://www.skrill.com/en/business/ https://www.skrill.com/en/business/
- arenaninja 5y agoThis isn't just about avoiding US jurisdiction but also let users pay and receive payment with ideally the alt coin of their choice (or one of a few choices). In LATAM conventional banking adoption is low, it's unlikely many people would have a credit/debit card, and the exchange rate and associated fees are very unfavorable