Technically you should be offered a 3%-ish discount for paying without purchase protection as well. Or, should I say, that everyone else should have to pay more if they’re using banking systems. But this is usually built into the cost & margins up front.
Purchase protection with crypto payments is based on reputation alone, and not chargebackability.
Costume wings don’t allow one to fly, so I’m not sure why one would place the expectation of such a transaction in a system which by design forbids it.
Point being is that the viable crypto currency alternatives still have fees, so ‘waiving’ the fees of an unrelated system of commerce that makes zero sense.
“Credit cards charge 3% therefore crypto should get a 3% discount” has zero relevancy to a $100 crypto payment that costs 10% to send and another 10% to withdraw. One fiat system isn’t paying the dividends of another in the real world.
Because there will be another 1000+ coins in the next decade and nobody can determine what will bubble to the surface until it breaks out.
If they fly me to the land of net positive gas fees I’ll have whatever you’re smokin darlin.
This is one of those ‘in theory it would be nice but also here’s the reality’ situations. It’ll be a proper minute before crypto processing fees catch up to Visa or MasterCard, and then perhaps this discussion becomes tangible. Right now it’s about 80x more expensive to send $10 via Ethereum network than it is through a card processing fee.
A better way to frame OP’s question is:
Esk8 customers: are you willing to use a high value variance currency for a surcharge of $8-25 per transaction with zero purchasing protection?
It’d be better to waive the purchase protection fees and charge any other payment fees on top of it. That way everyone doesn’t need to pay the fees that you incur because of your payment choice.
If you pay me {AMOUNT} and it costs 3% more for purchase protection, then pay 3% more
If you pay me {AMOUNT} and it costs no more, then pay no more
If you pay me {AMOUNT} and it costs 23% more for payment fees, then pay 23% more
I’ve just payed @mackann >400$ with 0.26$ in transaction fee. I am sorry but ethereum is not the only blockchain. There are others with considerable lower fees. Including a feeless one.
I am sure 0.26$ is not 80x of what VISA or MC charge.
^ this is exactly what I mean. #112/0.03% in market isn’t at all a mainstream, accessible option just by the number of users alone. At this point in time, yes, you had an option with an altcoin. But that doesnt mean it’s mass adopted and a commonly used/accessible option.
The reason I reference ETH is because it’s one of the mainstay currencies on the market and provides a solid point of reference.
We’re not quite there yet, realistically. I say this as someone who has worked professionally on Blockchain technology development. It’s going to continue to be a niche payment alternative that levies cost to the consumer for another 3-5 years, as fees on T1 networks eventually drop and more competitive options rise to the top.
In regards to @DRI I can’t see us offering anything that isn’t ecologically & financially viable. Let’s see how the ETH2.0 transition to PoS settles.
For a business its nice to be protected from chargebacks. I have one customer made a chargeback for 5000USD and I keep see he ride the board on his instagram…
But even if the customer cant do chargeback with crypto they still hav customer rights so if you dont plan to shutdown their is not that mutch different for the customer.
But it cost to sell with crypto to. First cryptogateway take a cut, then transfer to a market and then sell it and then transfer to paypal and later to bankacount. Every step have some fees. So that the price should be lower when paying with crypto i don´t understand why.
We support: Bitcoin, Etherium, Bitcoin Cash and Dogecoin
@Lee_Wright If you use shopify I could help you set it up, it was realy easy!
The level of value variance on BCH in the last year alone still supports the point I’m making here.
I say this as someone who personally is a supporter and huge proponent of decentralized digital currencies: it’s still very new. Value still fluctuates and is intrinsically tied to 2-3 primary crypto markets.
To think that we’re at the point where discounts would be applied to purchases with the use of crypto is naive of the current market state.