Post
Topic
Board Bitcoin Discussion
Re: I Opened another business were I accept Bitcoin
by
KaliLinux
on 15/09/2022, 06:12:21 UTC
customer wants to take #18,000 (Nigeria Naira) and pay in Bitcoin, I did the calculation and added $3 fee for my business charge and sent the details across and the customer sent 0.00155 BTC.

Good idea!, but this people that will pay you in Bitcoin must be Big guys and Big men I guess, adding $3 as transaction fees to your customer in Nigeria is huge amount and might scare them away from doing business with you , I suggest you remove it as you are just getting started to attract more customers, then later you can add your charges. However, if you do have an account with any platform that has P2P like Binance for instance, though I'm not encouraging you should keep your cryptos in a centralized exchange, but in this case Binance P2P will make things easier for you, in terms of selling your Crypto back to Cash. therefore you need not to add $3 transaction fees to your customers because that is approximately (#2000) Nigeria Naira as at today's exchange rate of #700 -$1 dollar.

Everything OP narrated sounds good but there is hardly anyone in Nigeria trading crypto that doesn't know the exchange P2P transaction and Nigerians as we have known from previous info are at the top of that transaction in Africa]vanguardngr.com/2021/04/despite-ban-nigeria-leads-bitcoin-p2p-trading-across-africa-in-q1-2021/]Africa

and also rated highly in the World]cryptopotato.com/how-nigeria-became-the-second-largest-bitcoin-p2p-market-in-the-world/]World

so I was wondering, why would I want to spaned 35min waiting for a transaction to get through and even pay an additional $3 fee Shocked because I want to cash out some Satoshi? As I said, the narative sounds good for Bitcoin but the transaction if faulty from the seller point of view.