Any advantage with crypto currency payments?

Magnus_Lind

After signup I've noticed how your payment page seems to be favoring cryptocurrencies over traditional currencies, are there any advantages paying with cryptocurrency instead of traditional currencies on this platform, except lower fees?

Kenneth_Crayton

As someone who forgot to do a proper backup in the past and got screwed by PayPal, I'd definitely recommend cryptocurrency payments. Once the transaction clears it's at the destination and cannot be put on hold or blocked.

When I was young and dumb I thought those high PayPal fees for them to "protect me" was something good, but then I realized, what are they protecting me from? If I needed protection from 99Stack because I didn't trust them, then why would I even be here?

The only thing PayPal "protected" me from here was my own work, yes you heard it right, their random charge back caused my server to destroy itself because I could no longer afford it with a negative account balance. 😠

99Stack support did a great job helping me restore my work tho 👍️

Marco_Weiss

Cutting out the middlemen maybe? sure that's a more convincing argument for merchants but hear me out on this. Cryptocurrency is programmable money, imagine having a script that checks your account balance, and then deposit some more once you're running low. It's kind of the same principle as a traditional credit card, i.e fully automatic, but you don't need to hand out your private keys to any third parties which is a great advantage.

BlueRabbit

Marco_Weiss Sounds like a weak argument... I get the point you're making but why reinvent credit cards just to cut out the middlemen? are you hiding something? then maybe you should use Monero or try cash deposits.

Kenneth_Crayton

BlueRabbit Cryptocurrency isn't about reinventing credit cards, it's about replacing banks for value transfers, we could still use the card infrastructure on top of a blockchain, at least until something better is available for instant transactions.

Marco_Weiss

why reinvent credit cards just to cut out the middlemen

You just said it yourself, why handing over the access to your spending account to someone you have no idea if you can trust or not? This is not about hiding stuff, it's about privacy, a basic human right.

Also, with credit cards you would have to manually transfer money from your bank account to your card account regularly. With a cryptocurrency wallet nobody knows my private keys so I could store any amount in there and setup daily payments for instance, while never handing out my private keys.

The_Moose

It's no secret that we do favor cryptocurrency payments, tho the fees you're paying are the actual fees our payment providers charge to process the payment. Now thanks to new layers on the Bitcoin network, such as the lightning network and more choices among the payment providers. We may soon be able to reduce the fees for cryptocurrency payments to zero.

Marco_Weiss

That's great news, waiting in excitement 😄