question Crypto-only payment options. Why?

[internext]

I sincerely don't understand why some sellers kneecap themselves by only accepting crypto as a payment option. I have never used crypto. It confuses me, and previous attempts to use it have been frustrating, so now I simply avoid crypto.

I can't help but wonder about a seller's legitimate motivation behind this. To me, an unwillingness to accept traditional payment options sends up big red warning flags. I feel like something shady is going on. Am I ignorant of some valid benefits to the overall transaction?

Is it time to educate myself and hop on the crypto train?

Even if I open my mind up to crypto, I still wonder why it would be beneficial to avoid offering other means of payment. I am guessing this method benefits the seller much more than the buyer. No accountability/chargeback in the event of a scam? This thought leads me to question the motivation.

So why would a seller only offer crypto as a payment method? Surely, at the bare minimum, this significantly shrinks the pool of potential buyers.

Thanks in advance for helping me understand all this.

Eric

 

[D Haynes]

I agree. Only reason I can think of is to avoid paying tax.

 

[alcy]

the whole crypto point is to avoid banks.. middle men etc.. and also make it much faster or almost instant.. of course if your lander says like some do ...this name cost 1bitcoin for every name u own.. then u are basically guaranteed to get zero sales

 

[AEProgram]

I agree with you that only crypto is not a good thing. You should only work with escrow for domains regardless of payment method. (an escrow that is confirmed by long time members on this forum only and publicly, almost all crypto escrow services are scams, if you don't understand this you will get scammed guaranteed), With crypto only, there could be a risk that the seller is selling a stolen name, make sure you know who you are dealing with.

Why crypto only? You had issues with crypto, many people do, so you avoid it. A lot of people had issues with PayPal and other forms of payment. Chargebacks, stolen cards, fund holds to name some of them. These people might have gotten to a point that they want to know if they get paid they have the money and can sleep well. They won't be getting a message 4 months later that money left their account all of a sudden because the buyer forgot he purchased the name or a card was stolen. Some domain chargebacks come from people that build sites that purchased a name on behalf of a client but the client didn't end up paying the bill so the designer does a chargeback. These things are very rare but if you got hurt once, it might change you. You have stores that will never accept credit cards again after a chargeback by one person, some sites will never let you pay with PayPal because they had issues once.

People selling stolen domains for crypto only might offer to give you the name before you send payment, its a big red flag.