New Business? Don't Trust Stripe – Crypto Will Be the Future
That's why I turned to crypto. At first, I was skeptical, but as more of my customers requested it, I decided to give it a shot. Since then, I’ve discovered several advantages: lower fees, better privacy for customers, and the peace of mind that comes from knowing my funds are secure and won’t be frozen.
With Trump’s re-election and his promise to support cryptocurrency, I feel even more confident in my decision. I genuinely hope more businesses and customers move away from traditional credit card processors and adopt crypto, which is decentralized and much safer.
To give you an idea of the growing crypto market, Binance, a leading exchange, now has over 240 million registered users. It's a massive market, and I’ve made the leap by dropping credit card processing and only accepting crypto from now on.
The rest of most people's customers use good old regular currency.
And as for horror stories, crypto has to take the prize there.
What? Crypto is either illegal (China, Indonesia) or highly restricted and regulated in the major Asian economies. India’s government is considered new restrictions. Russian law doesn’t allow accepting crypto for payments or as currency, nor do Thailand, Malaysia, Taiwan.
Micro-transactions are very popular in much of Asia but those aren’t in crypto.
If you meant this seriously, do you know about the thousands of crypto scams, rug pulls, ponzi schemes, frauds in that space? Stripe occasionally screwing up looks like very small potatoes by comparison.
I’ve read quite a few of the Stripe horror stories because most of my customers use Stripe. Those stories have a couple of common threads: risky and borderline illegal businesses and excessive chargebacks. I’ve never heard of a legit business getting screwed by Stripe. I do personally know several people who got ripped off by crypto scams.
https://x.com/HamelHusain/status/1808850347169100261
Crypto may have benefits to some people, in some places. But those users have next to no overlap with businesses and individuals who can use Stripe and have access to credible banks and credit cards.
Most people don’t want self-custody of their assets. If they do they can find better assets than crypto.
That you believe anything Trump promises says a lot. He’s pandering to campaign donors, not converting his own assets to crypto.