Post
Topic
Board Services
Re: Crypto Payment Plugin for WordPress Websites
by
MyCryptoCheckout
on 17/03/2018, 00:05:46 UTC
There is much more correct payment per transaction.

Bitpay isn't really comparable since you can only take Bitcoin or Bitcoin Cash and pay 1% for each transaction.

Coinpayments charges a 0.5% transaction fee, in addition to the TX fee the customer pays. Coinpayments gets the coins, then they charge you a TX to put them back on the blockchain and send them to your wallet they control, then another TX to send them out to another wallet you own or an exhange. For Bitcoin in particular they also say "We currently subsidize Bitcoin withdrawals so you pay a flat TX fee of 0.00070000 instead of the full TX fee." https://www.coinpayments.net/help-fees That currently equals $5.87 when the average Bitcoin transaction fee should only be $1.45 https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m.

Our product was made to be peer-to-peer so we can't take a percentage of transactions because we never touch the coins. The free tier allows for 3 free payments per month. We were hoping that this would be good for small businesses to get their crypto payments going so as to not have to pay for anything at all until a sufficient amount of sales start coming in. The plugin can be found in the Wordpress plugin repo for free even! https://wordpress.org/plugins/mycryptocheckout/

Do you still think our business model still looks bad compared to places like Coinpayments?