Payment processor and cryptocurrencies

[Xamilow]

Hello good day. I have an LLC, Mercury bank account, and am thinking of implementing Stripe.

My idea is that they buy products on a page with legal products. And they receive cryptocurrencies.

The objective of this is to have the price of the coins much cheaper due to a ban in my country.

Sounds like a good idea? Do you think it will work? I accept criticism and advice.

 

[JohnLocke]

My idea is that they buy products on a page with legal products. And they receive cryptocurrencies.

It's a way of camouflage an exchange business ?

 

[Xamilow]

It's a way of camouflage an exchange business ?

Yes, I receive the money in dollars. They receive the cryptocurrencies.

I am left with a good profit.
I know there are risks, that's why it's only for a very selected group.

 

[CaptK]

What country are you in?

 

[startfleetio]

Very risky business. Good luck!

 

[JohnnyDoe]

Yes, I receive the money in dollars. They receive the cryptocurrencies.

I am left with a good profit.
I know there are risks, that's why it's only for a very selected group.

Good idea. Just make sure you do a proper checkout and actually ship the product if you receive a test order from the processor

 

[NicolasMaduro]

How would you do it if someone chargeback their payment and say they didnt receive their package?

 

[JohnLocke]

How would you do it if someone chargeback their payment and say they didnt receive their package?

that is always the way they sooner or later find out what it is you are doing!

 

[Xamilow]

What country are you in?

Argentina

How would you do it if someone chargeback their payment and say they didnt receive their package?

I will have the personal information of these people.

that is always the way they sooner or later find out what it is you are doing!

I know, I'm thinking about it a lot. I have to protect myself more, I could even know the exact location of where they live.

What do you think of WooCommerce Payments?

 

[uplana]

I will have the personal information of these people.

it won't help you, as soon as the CB hit's your account chances are they will investigate it and figure out what you are doing!

What do you think of WooCommerce Payments?

it is a plugin as far as I know not a payment processor?!

Any payment processor that you can fool to approve your business will work for you until the day you get hit by an CB!

 

[JeffBesos]

How will you get stripe to accept processing your sales? You need the website fully setup and possibly prior sales?
I am not sure how that works, I got denied by Stripe a few years ago. I might try now that I got solid foundations.

 

[JamesDonkey]

My idea is that they buy products on a page with legal products. And they receive cryptocurrencies.

Buy products and receive cryptocurrencies -- how's that?
and what kind of products - physical or virtual?

 

[myshufflemix]

sending physical goods could protect you from chargeback claims. You would easily be able to claim you send a product with proof while the disputer don't tell the truths

 

[clemens]

Good idea. Just make sure you do a proper checkout and actually ship the product if you receive a test order from the processor

that is very important anyway. If you just get one chargeback you are game over.

 

[uplana]

Hello good day. I have an LLC, Mercury bank account, and am thinking of implementing Stripe.

My idea is that they buy products on a page with legal products. And they receive cryptocurrencies.

The objective of this is to have the price of the coins much cheaper due to a ban in my country.

Sounds like a good idea? Do you think it will work? I accept criticism and advice.

did it work out for you as you expected it or did you realize that it wasn't worth it?

 

[JeffBesos]

second that. stripe charges you , what? 5 % of the total? does it have other fees to withdraw to bank after that?

 

[CoinMaster]

The 5% in high risk payment processing is nothing if you ask me, I have seen processors charge 10%, 20% and even 25% in very high risk business activity. Not to speak about some gray area or illegal business which pay 35% and more!

Stripe is a good mainstream processor for the very small guy. I would never trust such a big company my business.

 

[lostguy]

It is possible to find a payment processor. Actually I figured out who CEX is using! They have high requirements but they can, if you know your stuff, open accounts for crypto companies.