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Hello HN community, I'm just curious about the rise of this new BitCoin currency. I'm currently developing an Saas product myself, so I'm actually torn between
by neya 14y ago
Hello HN community, I'm just curious about the rise of this new BitCoin currency. I'm currently developing an Saas product myself, so I'm actually torn between choosing various currency processors/vendors.
Can someone explain as to
1) Why and when one should use BitCoin?
2) What advantages does BitCoin have over traditional payment processors like PayPal/Stripe?
3) Is there any legal downside of using BitCoin? (For example, I read somewhere that Bitcoins are used for Money Laundering and the governments are actively monitoring anyone using BitCoins)
4) How much do you save (if at all) by going with BitCoin instead of someone popular like PayPal/Stripe?
Thanks!
- ig1 14y agoUnless you've got a userbase that are significant users of bitcoin (which I'm guessing is unlikely for most SaaS) I wouldn't worry about supporting it. Wait until you have active demand from your userbase before adding another payment mechanism especially one which essentially gives you a huge amount of forex risk.
- neya 14y agoThanks for the clarification :)