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> Coinbase has the option of immediately converting crypto payments into fiat, eliminating that problem. Sure. You want to update your bitcoin prices what, hou
by jrochkind1 4y ago
> Coinbase has the option of immediately converting crypto payments into fiat, eliminating that problem.
Sure. You want to update your bitcoin prices what, hourly, to make sure you are charging what you meant to? I'm not sure that coinbase service exactly eliminates the problem. But I'm sure that is a useful service for some!
But yeah, we're on the same page. Overall... it is not a convenient thing for an ordinary business to take as payment for ordinary daily things.
- Sohcahtoa82 4y ago> Sure. You want to update your bitcoin prices what, hourly, to make sure you are charging what you meant to? That's one way to do it. The other is to charge in USD just like you normally would. When the customer opts to pay in Bitcoin, they get sent to Coinbase which will convert the price into Bitcoin immediately and tell the customer what the balance is in Bitcoin. The exchange rate won't favor the customer, as it will include some amount extra to cover the possibility of the value dropping before the transaction is confirmed.