Re:Accepting Bitcoin as a Small Business – 4 Years In, No Cu...
by aeternus on Friday March 01, 2019 @06:24PM
(#19286297)
>I would never make an everyday purchase with Bitcoin.
I used to think the same, but there is a coffee / snack shop nearby that accepts bitcoin/bcash/ethereum, and offers $1 off if you pay with it. A surprising number of people pay via cryptocurrency.
For a small purchase like that, cryptocurrency is perfect. Amounts are small enough that you don't need to wait for blockchain confirmations, risk is low. Credit card fees are high in-part because they are providing that fraud protection. For a purchase like this, both the merchant and I save money by not having to worry about transaction reversals and fraud.
I used to think the same, but there is a coffee / snack shop nearby that accepts bitcoin/bcash/ethereum, and offers $1 off if you pay with it. A surprising number of people pay via cryptocurrency.
For a small purchase like that, cryptocurrency is perfect. Amounts are small enough that you don't need to wait for blockchain confirmations, risk is low. Credit card fees are high in-part because they are providing that fraud protection. For a purchase like this, both the merchant and I save money by not having to worry about transaction reversals and fraud.