What are the pros and cons of accepting Bitcoin for payment?

[DedidamNET]

Bitcoin is here to stay and will not go away, no matter how suspicious some hosts might be. Adding it to your list of payment methods does no harm, and not having it present on your website, only causes you to loose some clients that prefer bitcoin.

 

[easyhostmedia]

Bitcoin is here to stay and will not go away, no matter how suspicious some hosts might be. Adding it to your list of payment methods does no harm, and not having it present on your website, only causes you to loose some clients that prefer bitcoin.

well after 3 years of offering Bitcoin and not 1 person using it i removed it as an option as i dont think it will ever loose me any clients

 

[SenseiSteve]

well after 3 years of offering Bitcoin and not 1 person using it i removed it as an option as i dont think it will ever loose me any clients

That's interesting because I'm beginning to see more and more providers starting to offer Bitcoin.

 

[easyhostmedia]

That's interesting because I'm beginning to see more and more providers starting to offer Bitcoin.

No good offering something that is not being used. If we get asked for it then maybe we will add it as an option again.

 

[SenseiSteve]

Bitcoin is here to stay and will not go away, no matter how suspicious some hosts might be. Adding it to your list of payment methods does no harm, and not having it present on your website, only causes you to loose some clients that prefer bitcoin.

I'm curious if you're seeing an increase in Bitcoin purchases.

 

[cheapdedicated]

well after 3 years of offering Bitcoin and not 1 person using it i removed it as an option as i dont think it will ever loose me any clients

Same story here. We offered it for a short while only one client used it and the same client shifted to paypal and we never got anyone asking for it so we removed it completely.

 

[AviarHost]

Can be cool for shady deals and if you don't want people to trace the actual money. I simply prefer being legal and Paypal Is way cooler.

 

[WebHostGlobeCom]

Bitcoin currency is quite unstable. The value increases or decreases drastically within a short period of time.

 

[FusedServers]

I have never really been into bitcoins or any cryto-currency I do not forsee me getting involved in accepting payments from it. Because one day it could be 800 and the next it could be 30 then the next day its 4 then runs up to a 1000.

Ill just stick to paypal, credit cards, good old fashion checks.

 

[CDNgine]

If you are going to offer it use a service such as Bitpay or GoCoin which give you the option to determine if you want to keep the payment in Bitcoins, convert it to the currency of your choice or a percentage of each.

 

[persuasiv]

Accepting payments via Bitcoins you will attract bad guys who make dirty work from your server and this is the last hing you want!
Further more bitcoin is quite unstable!

 

[WiredBladeCom]

We are considering it. You never know how the price will go.

 

[Alex - A2 Hosting]

Accepting payments via Bitcoins you will attract bad guys who make dirty work from your server and this is the last hing you want!
Further more bitcoin is quite unstable!

That is an interesting view to Bitcoin. As with anything in this world, there are going to be legitimate and non-legitimate uses but have you experienced and increase in abuse or other non-legitimate activities since adopting BitCoin? Or are you more generalizing an assumption?

I agree that BitCoin can be unstable though, just like any currency it can go up and down by night. It is one reason I recommend opting for BitCoin via Stripe as you specify the USD amount for each product and Stripe will send you USD so you don't have to risk the value dropping (although you might not like it if you find the value increases )

 

[Alex - A2 Hosting]

We are considering it. You never know how the price will go.

Are you based in the US? If so check out stripe.com/bitcoin -- You specify your prices in USD and they will send you USD. I'm not sure how often they update the exchange rates but it should take out some risk if it drops drastically.

 

[CDNgine]

Accepting payments via Bitcoins you will attract bad guys who make dirty work from your server and this is the last hing you want!
Further more bitcoin is quite unstable!

Over the years, I've seen far more fraud and bad guys using Paypal and stolen CC's than I have paying through Bitcoins.

:twocents:

 

[serverbundle]

Major Pro ?

Low transaction fees!
No Charge Backs!

Major Con ?

Hard to find reliable exchange or a payment gateway who is reasonable in providing decent rates.

 

[greenwebpage]

Maybe whit bitcoin you will atract some new client and some of them is good clients,but olso i think you can atract bad guys on you hosting company and can make problem whit your server and can lose good clients because your server is not working good.

 

[serverbundle]

Low Transaction Fees
No Chargeback issue

Combined with BitPay you get at actuals price conversion rates.

No Con so far for us.

 

[JSCL]

I think at the moment, Bitcoin still has a negative stigma about it.

Its very nature means that it often being used for illegitimate purposes. Whilst these people are also using Bitcoins to purchase hosting for illicit use, there's still many customers out there who are legitimate. Providing you have the right fraud detection in place, I don't see the issue with it.

 

[enomyn]

I am just try to accept the bitcoin since there are some exchange platform online.

I sold out the bitcoin to day, and receive the fund via paypal at the same day. May be can put bitcoin as another payment method.