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Does anyone know if the 2.9% + 30c stripe fees still apply for bitcoin payments?

hayksaakian 12y ago
The pricing for bitcoin payments is simple: free during the beta and 0.50 percent per payment when the API is out of beta in January 2015.
- sagivo 12y ago
  this is very heigh fee. the whole purpose of bitcoin is to get rid of the middle-man who try to take a cut out of simple transaction. i see the added value of easy-api but the fee is way too much for a free alternative. and yes, i know that bitpay and others take 1% but i'm sure they will adapt once cheaper alternatives will be available. as for me - i develop my own free solution.
  - Pyxl101 12y ago
    Is it really a high fee? Bitcoin cuts out the middleman if you're willing to keep the bitcoin, sure. For the users elsewhere in the thread who were asking if they could just keep the bitcoin, perhaps the price should be negligible. However, if what you want is fiat currency, like the US dollar, then a middleman needs to sell the bitcoin for currency and give you the currency. The middleman has a risky and complicated job, which I assume includes holding enough currency in reserve so as not to delay transactions; and they probably need to decouple the currency transfers from the bitcoin sales, which means they take on some risk from fluctuations in price in the bitcoin market. The market on which the middleman sells bitcoins might also take a cut. The middleman is taking on responsibilities and risk, and needs to be compensated for it. I don't work in payments, so the above is my own layman's understanding. How will you exchange bitcoin for dollars in a way that's free, and doesn't incur a transaction %?
    - tomschlick 12y ago
      This. Stripe is a business. They need to make money to stay alive. 0.5% is a whole lot better than 2.9% + $0.30. They are providing all of the infrastructure, auto conversion, and risk mitigation so it's not that high of a price.
  - ryandvm 12y ago
    I agree that the fee is too high, but you're going to have a hard time convincing a middle-man to remove the middle-man.
  - tjbiddle 12y ago
    Sure, the idea is to cut out the middleman - Go ahead and write your own payment processing platform to support bitcoin payments on your website then. It's a matter of convenience and what people are willing to pay for a service rather than wrap something themselves.

The pricing for bitcoin payments is simple: free during the beta and 0.50 percent per payment when the API is out of beta in January 2015.

sagivo 12y ago
this is very heigh fee. the whole purpose of bitcoin is to get rid of the middle-man who try to take a cut out of simple transaction. i see the added value of easy-api but the fee is way too much for a free alternative. and yes, i know that bitpay and others take 1% but i'm sure they will adapt once cheaper alternatives will be available. as for me - i develop my own free solution.
- Pyxl101 12y ago
  Is it really a high fee? Bitcoin cuts out the middleman if you're willing to keep the bitcoin, sure. For the users elsewhere in the thread who were asking if they could just keep the bitcoin, perhaps the price should be negligible. However, if what you want is fiat currency, like the US dollar, then a middleman needs to sell the bitcoin for currency and give you the currency. The middleman has a risky and complicated job, which I assume includes holding enough currency in reserve so as not to delay transactions; and they probably need to decouple the currency transfers from the bitcoin sales, which means they take on some risk from fluctuations in price in the bitcoin market. The market on which the middleman sells bitcoins might also take a cut. The middleman is taking on responsibilities and risk, and needs to be compensated for it. I don't work in payments, so the above is my own layman's understanding. How will you exchange bitcoin for dollars in a way that's free, and doesn't incur a transaction %?
  - tomschlick 12y ago
    This. Stripe is a business. They need to make money to stay alive. 0.5% is a whole lot better than 2.9% + $0.30. They are providing all of the infrastructure, auto conversion, and risk mitigation so it's not that high of a price.
- ryandvm 12y ago
  I agree that the fee is too high, but you're going to have a hard time convincing a middle-man to remove the middle-man.
- tjbiddle 12y ago
  Sure, the idea is to cut out the middleman - Go ahead and write your own payment processing platform to support bitcoin payments on your website then. It's a matter of convenience and what people are willing to pay for a service rather than wrap something themselves.