For everyone taking crypto as payment

Labeled as discuss in Cryptocurrencies and Digital Currencies, started by MapleDots, Oct 26, 2020


  1. MapleDots

    MapleDots Top Contributor VIP

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    For everyone taking crypto as payment....

    I have never dabbled in crypto and have to admit that I don't know a lot about it.

    That gives me a unique perspective whereas I am thinking more from the customers perspective than the sellers. As in why would I possibly pay via crypto, what happens to my funds and the domain does not deliver?

    I'm reading in a lot of topics where domainers are mentioning they dropped paypal (or got cut off) and have switched to crypto for payment.

    Now as an end user of a domain that would scare me away from buying the domain, and I say that because you here so much about crypto funds being stolen.

    To all domainers using crypto...

    1. What barriers have you encountered?
    2. What positives have you encountered?

    Using paypal or similar offers the buyer some protection, is the answer a combination of crypto/paypal?

    Just asking for discussion here.
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  2. xynames

    xynames XYNames.com PRO VIP

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    The positives are - in that I’ve accepted it since 2011 - I’m fabulously ahead! versus the value of the dollars I would have accepted - and most especially because I’ve hodled all the way - never sold any crypto.
    Last edited: Oct 26, 2020
  3. garptrader

    garptrader Top Contributor VIP ★★★★★★★★★★

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    For a buyer dealing with a seller in another jurisdiction, there could be risk of nondelivery unless an escrow intermediary is involved. One advantage however would be a faster processing time as banks can hold up payment delivery for international transactions. Note that for .crypto domains listed on Opensea.io, I believe the agreement is basically a smart contract. Once a price is agreed upon and the buyer pays, the domain is automatically transffered to the buyer's wallet address.
  4. s.g

    s.g Okay, you've cracked it. There is more to us...

    Likes Received:
    Not once? No purchases using your crypto? Kind of like receiving a gold nugget for each working day and for each antique book you no longer want, but never ever swapping any of your nuggets for, let's say, a RTW trip or new roof?

    Pure, perpetual investing?
    Last edited: Oct 29, 2020
  5. xynames

    xynames XYNames.com PRO VIP

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    Hodl only. I’ll consider selling some at 50,000.
    Last edited: Oct 29, 2020

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