discuss Why don't add Bitcoin / Crypto Payments in Afternic.com / Sedo.com / Escrow.com

[ramkumaritrvs]

Hello Np'ers,

As we all are aware of the Crypto / Bitcoin payments is so easy to send and receive, why these big companies didn't take steps into accepting / payout in crypto payments?

> No extra fees like credit card fee / bank fee
> Quicker than bank transfer
> No limitation
> No reversal issue like credit card hack etc.,
and many more features in using crypto payments...

Love to hear feedback from,

@Joe Styler ,@Jackson Elsegood

 

[alcy]

Undeveloped.com also accepts & payouts in bitcoin.

I got domain sell payment in bitcoin from undeveloped, instant received & also saved almost $150 bank charges.

they just paid by current internet rate?

what fee did u pay?

i think epik.com also has btc

namesilo? @namesilo

 

[b2betrade]

they just paid by current internet rate?

what fee did u pay?

i think epik.com also has btc

namesilo? @namesilo

Yes they paid @ btc usd rate
Fees charged : 0.0001 btc * $7000 btc rate in usd = 0.70 cents

 

[alcy]

Yes they paid @ btc usd rate
Fees charged : 0.0001 btc * $7000 btc rate in usd = 0.70 cents

let me understand... the buyer in btc or buyer paid cash and they just payout in btc? or they accept both ways..

cause if buyer pays in btc then I guess they take the commission out of that too in btc.. at curent rate... sinnce rates can very greatly each day for btc.. there could be big differences in commssions charged.. payouts.. etc..

 

[b2betrade]

buyer paid cash and they just payout in btc

 

[alcy]

buyer paid cash and they just payout in btc

cool.. I wonder if you can pay there in btc too

also wonder same about epik and namesilo.

 

[Armageddon]

Hello Np'ers,

As we all are aware of the Crypto / Bitcoin payments is so easy to send and receive, why these big companies didn't take steps into accepting / payout in crypto payments?

> No extra fees like credit card fee / bank fee
> Quicker than bank transfer
> No limitation
> No reversal issue like credit card hack etc.,
and many more features in using crypto payments...

Love to hear feedback from,

@Joe Styler ,@Jackson Elsegood

Less security IMO then money payment + if payment is made in crypto you need to sell to get real money & have money to "eat"

 

[namemarket]

Hello Np'ers,

As we all are aware of the Crypto / Bitcoin payments is so easy to send and receive, why these big companies didn't take steps into accepting / payout in crypto payments?

> No extra fees like credit card fee / bank fee
> Quicker than bank transfer
> No limitation
> No reversal issue like credit card hack etc.,
and many more features in using crypto payments...

Love to hear feedback from,

@Joe Styler ,@Jackson Elsegood

Too much risk to be widely used. Keep in mind with thin profit margins when Godaddy registers a.com for $7.99 they may end up losing money on a crypto purchase during high volatility days.

 

[namemarket]

There are plenty of services/exchanges that offer direct conversion from BTC to fiat instantly, negating this potential issue.

Did not know about that but how do they make money? Do they charge a commission or fees? If so, how much?

 

[Joshua Harding]

Did not know about that but how do they make money? Do they charge a commission or fees? If so, how much?

Often times they're market sold at the exchange with their associated fee structure.

 

[namemarket]

Often times they're market sold at the exchange with their associated fee structure.

so if Godaddy sells say 10,000 domain registrations at $7.99 in a day approximately how much would they net if using the instant BTC exchange you are referring to? Can each domain be exchanged for fiat immediately or must it be a bulk transaction and not 10,000 daily trabsactiosn?

 

[namemarket]

Each transaction would be processed separately, and instantly at the time of purchase. Depending on the liquidity of the exchange or service provider (accounting for slippage + spread), GoDaddy would net between 98-100%.

It seems there's always more issues. About how much slippage and spread can be expected? I know when trading even regular commodity futures contracts it can be substantial at times with high market volatility. Does that mean Godaddy would need to absorb the slippage, spread and commission? If yes, I do not see how that changes anything unless I am missing something.

 

[Joshua Harding]

It seems there's always more issues. About how much slippage and spread can be expected? I know when trading even regular commodity futures contracts it can be substantial at times with high market volatility. Does that mean Godaddy would need to absorb the slippage, spread and commission? If yes, I do not see how that changes anything unless I am missing something.

Yes, they would. Highly liquid markets effectively nullify these issues, however - even in times of volatility.

Trading fees for crypto are much lower than commissions typically paid in traditional markets. Most crypto exchanges charge from 0% to ~0.1% per trade.

 

[larryscott2559]

Hello Np'ers,

As we all are aware of the Crypto / Bitcoin payments is so easy to send and receive, why these big companies didn't take steps into accepting / payout in crypto payments?

> No extra fees like credit card fee / bank fee
> Quicker than bank transfer
> No limitation
> No reversal issue like credit card hack etc.,
and many more features in using crypto payments...

Love to hear feedback from,

@Joe Styler ,@Jackson Elsegood

I've bought a few domain names from Namecheap.com using bitcoins. But the fact is even with all the buzz around bitcoins, they are volatile and not insured by the FDIC. Why accept a currency that shoots up to $5,000 in a month and in one day drops by $2,000. You also forget you have to convert bitcoins to cash eventually and its not that easy because there are only a handful of bitcoin atms that allows you to convert and withdraw cash.