Bitcoin Cash is probably the best option due to low fees. A stable coin would be ideal but Ethereum transaction fees are so high right now and likely will be for some time that unless the payments are large amounts it isn’t practical for commerce.
Ask HN: Practically accepting cryptocurrency for businesses without middlemen?
61–70 of 155 posts
Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?
#62Moonpay.com works, it accepts about 100 different coins and handles the transacations and KYC (as all crypto transactions now need KYC)
However, it's fees are hefty something like $4 or 5% whichever it higher. So only makes sense if you sell things that cost $100 or more.
Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?
#63The issue imo is the infastructure to tie the transaction to the purchase still needs to attach on chain data with offchain data and so that's complex for each chain and each website or app backend. Still recommend using a payment partner at this stage.
Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?
#64Amazing how their is a currency who's been rising for 10 years that you actually have to 'solve' for how to spend it.
Because it's not a currency. Gold has existed forever but you won't find point of sale systems with good support for gold coins either.
"Bitcoin: A peer to peer electronic cash system" is not a currency. That's some mental gymnastics.
Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?
#65Depends on the business. Are you B2B or B2C? How many sales/invoices in crypto are you expecting, per month?
If we are talking about just a few sales, I'd recommend something like https://request.network/en/invoicing/ .
You can also try https://bitpay.com/business if you want to integrate the payments into a customer portal.
Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?
#66Moonpay.com works, it accepts about 100 different coins and handles the transacations and KYC (as all crypto transactions now need KYC) However, it's fees are hefty something like $4 or 5% whichever it higher. So only makes sense if you sell things that cost $100 or more.
> Ask HN: Practically accepting cryptocurrency for businesses without middlemen?
> directly accepting payments from customers?
Your reply:
> handles the transacations and KYC
You seemed to have missed 50% of the post you're answering to.
> as all crypto transactions now need KYC
You might want to specify what country you're thinking about, not all countries have laws around KYC and cryptocurrencies.
Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?
#67A bit of a related question:
What is the best option to offer crypto payments to customers who hold no crypto and are new to crypto?
I have a side project in a domain where I pay about 15-20% for CC verification/foreign exchange/payout.
Huge numbers where crypto should be preferable.
However, even with discounts I can not get any crypto payments. Customers do prefer to use CCs.
I check the crypto payments space every few years but do not see anything remotely user friendly.
Paypal/Revolut/Venmo etc they all offered some benefits/stickiness to the customer.
They were also easy to onboard(for one intially Paypal delayed KYC extra security until later)
I am still looking for a pure crypto solution.
Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?
#68If you just want to accept BTC (plus some other supported coins), BTCPayServer is your best bet. It is very good, but due to its architecture it does not store any private keys in the server, so it is not designed to work with account-based chains like Ethereum.
If you want to accept stabletokens (which seems to be the case since you don't want to necessarily hold crypto as an investment, so stable tokens can help you to avoid volatility), you will certainly want to be able to accept ERC20 tokens. I'd recommend you take a look at Hub20 [0], which I've been working for a while and it aims to be the Ethereum analog to BTCPayServer. Currently Hub20 is also integrating with Raiden Network[1], which works in a similar way to BTC's Lightning (but again has the advantage that it can work with any erc20 token, so you can transact with stable tokens if you wish)
Hub20 is self-hosted and it does provide a way to store and manage secrets and wallet keys. For a self-hosted scenario, this means that you are always in control of your funds. I am also working on a checkout system[2] so that people can accept payments from their site in a similar way to Stripe.
I've been working to turn Hub20 into my full-time project recently, I'm always on the Matrix room [3] for any kind of support. I'm also open to consulting in the domain. Let me know if I can be of any help.
[2] https://gitlab.com/mushroomlabs/hub20/checkout20
[3] https://matrix.to/#/#hub20:communick.com
(Edit: I'm usually not one to complain and take downvotes with stride, but why would someone downvote this comment?!)
Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?
#69https://flexa.network uses crypto in interesting ways for risk transfer and is practically no-fuss for merchants in the sense of complying with regulatory requirements. 1% fees flat.
Re: Ask HN: Practically accepting cryptocurrency for businesses without middlemen?
#70BTCPayServer supports other coins aside from Bitcoin btw:
https://docs.btcpayserver.org/FAQ/Altcoin/
https://docs.btcpayserver.org/Development/Altcoins/#how-can-...