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Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

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Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#1

Post by hda2 »

What cryptocurrencies and payment processing software do you recommend for directly accepting payments from customers?

Is there an industry standard for this (or a de facto standard thereof)?

(These funds will be used to pay for business expenses that that can be settled with cryptocurrency. We do not intend to convert to traditional currency unless needed. We do not intend to hold cryptocurrency as an investment.)

Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#4

Post by _zllx »

Electrum, one of the most popular desktop Bitcoin wallets, has a server component which can use your Bitcoin public keys on a web server to process transactions. It generates a verified request for payment in BTC using your existing SSL keys. Bitcoin still is the most ubiquitous for payments, even from Ethereum (e.g. via renBTC) but the transaction fees are still prohibitive for smaller sums less than $20 unless you involve Lightning network which may become much less turnkey.

https://electrum.readthedocs.io/en/latest/merchant.html

Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#5

Post by artfulhippo »

If your users expect a reasonable level of UX quality, you're likely better off giving a middleman his ounce of flesh.

If not, then spend your valuable time hacking together some combo of scripts and open source code to watch your wallets for incoming payments.

Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#6

Post by toomuchtodo »

doomroot wrote: post #2

Btcpayserver is by far the best open source solution in the space.

Tesla reported a security vulnerability in the project, as they used it for accepting Bitcoin and treasury management of it. To me, this signals confidence in the project's application security posture.

https://www.coindesk.com/markets/2021/03/31/tesla-just-helpe...

https://twitter.com/BtcpayServer/status/1376962115504906240

https://github.com/btcpayserver/btcpayserver/releases/tag/v1...

Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#7

Post by Geee »

For best experience, be sure to accept Bitcoin with Lightning Network. I'm not sure about industry standard, but BTCPay Server[0] and OpenNode[1] seem to be the most popular ones. BTCPay Server is open-source and self-hosted.

[0] https://btcpayserver.org

[1] https://www.opennode.com

Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#8

Post by anonymoushn »

Geee wrote: post #7

For best experience, be sure to accept Bitcoin with Lightning Network. I'm not sure about industry standard, but BTCPay Server[0] and OpenNode[1] seem to be the most popular ones. BTCPay Server is open-source and self-hosted. [0] https://btcpayserver.org [1] https://www.opennode.com

Does this work? The only instances of people attempting to use LN I've witnessed ended in failure.

Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

#9

Post by tcoff91 »

anonymoushn wrote: post #8
Geee wrote: post #7

For best experience, be sure to accept Bitcoin with Lightning Network. I'm not sure about industry standard, but BTCPay Server[0] and OpenNode[1] seem to be the most popular ones. BTCPay Server is open-source and self-hosted. [0] https://btcpayserver.org [1] https://www.opennode.com

Does this work? The only instances of people attempting to use LN I've witnessed ended in failure.

Everyone using Bitcoin in El Salvador is using lightning network for the most part.
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