Quote from: BradZimdack on February 21, 2013, 12:28:00 AM

Quote from: BradZimdack on February 20, 2013, 11:15:57 PM

* It's counter-intuitive, but giving the customer more payment options reduces sales. It makes your sales process more complex, requires the customer to make more decisions, and thus reduces overall conversion rate.

We look at the data on everything, so I do know this to be true (at least for the services we've tested). Our tests have been conducted using various payment options such as Paypal, Bitcoin, and net-30 terms. Of course every business is different, so I can't say for certain that our results would be externally valid for every business out there. Different target markets might behave differently. (We have seen a similar effect in other areas of choice, for example if a product comes in multiple colors, there can be a statistically significant conversion rate increase by actually eliminating some of those choices.)

Regardless of whether these results would apply to all business types, it remains a reason that we will not be supporting more than one crypto-currency, and the one that we do support must have sufficiently large usage to justify providing the option.

Well, I think the wording would be more accurate if it said:

* It's counter-intuitive, but [displaying] more payment options reduces sales [in tests we've done using our methods].