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CRYPTOCURRENCY AS PAYMENT METHOD


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Don't agree - the world already has too many cryptocurrencies and all of them are not exactly stable. But that's not the point. Which cryptocurrency should they choose? It will incur additional costs, and the costs will not be on the Fiverr, but on the sellers and the buyers.
Maybe over time they will add it, but you have to understand that this is a very complex process - it's not just a matter of adding a button to a website. It will take time and investment

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In the past, they had crypto as one of the payment methods for purchasing gigs and withdrawal, but they removed it later on. I have been here for the past 7 years.  Well, I think they should introduce it again. They can pay out in stable coins like USDT or BUSD. I think it might cushion heavy withdrawal fees from Payoneer and bring about competition. I certainly like the option of receiving my withdrawals as USDT or BUSD.

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I think this is high time fiverr should not add CRYPTOCURRENCY as their payment method for buyers and sellers 💯because it is not accepted more  country, but it is very needed 

 

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Adding Cryptocurrency would just involve extra costs for Fiverr. Then there's also the fact that Crypto is very volatile, and some gigs tend to take 15-20 days or more to complete. By the time those 20 days are over, the cryptocurrency can end up losing a lot of value, take Bitcoin who had a massive drop recently. Fiverr still has to pay you in dollars, the amount that was purchased. And trust me, Fiverr won't take a loss on this.

There are many other reasons, but for the one I said above, I am 99.999999% confident they won't ever add crypto payments unless they go for a stablecoin or something that doesn't lose value.

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I'd much prefer they add multicurrency support before they add crypto. A lot of people take an extra loss having to convert dollars into their home currency, from both exchange rates and also from conversion fees.

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22 hours ago, joyh97 said:

I'd much prefer they add multicurrency support before they add crypto.

That would be ideal, but then again there are so many currencies that it would be hard to manage and also quite expensive. So unfortunately I doubt this will ever happen.

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On 1/16/2022 at 12:48 PM, joyh97 said:

I'd much prefer they add multicurrency support before they add crypto

Or at least direct to bank account payments like other platforms have. In my experience, that results in better exchange rates and cutting out fees for Paypal and Payoneer. 

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23 hours ago, leannelrivers said:

Or at least direct to bank account payments like other platforms have. In my experience, that results in better exchange rates and cutting out fees for Paypal and Payoneer. 

I'm in the UK and do have the option for direct bank transfer, but it's super expensive. I lose about $5 per $100 compared to just sending the $ amount in USD directly to paypal and then converting it through Wise, which is what I do. 5% is very steep.

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  • 2 months later...

The best way to go about they should allow stable coin like USDT, BUSD & other stable it will really because country as set limit of spending On customers' cards. With this, people can transact without any issue.

On 3/19/2022 at 5:04 AM, djnocturno said:

They can add USDT, USDC and other stable coins. 

 

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For those who argue about the instability of cryptocurrencies, that is what stablecoins exist for, they could pay in USDT or BUSD and we would not incur the risks of market volatility.

In addition, the idea would be to keep the current methods and add an option in cryptocurrencies as an additional, so that those who do not like it continue to charge as usual.

Personally, I see it as very necessary because I have lost up to 20% in fees with current methods and in crypto I would receive almost full money

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  • 4 weeks later...
Posted (edited)

I cant believe how much fud here. Crypto is the future and present because resulted being more inclusive, free, openminded for those without bank or paypal monopoly against bankster, secondly is cheaper, faster, crossborder payment. Asap you leave this criminal system the more just world. Xrp fees are 0,0001 to say almost free, instantaneous and dont 14 days!! , same Ltc, hbar and many. Too many ignorants people here of finance, media manipulation, economy, psycology. Which is bad in a 21 century. Next year every one must to use crypto or cbdcs. Please, dont be afraid of all. Dont follow the mefia manipulation. Worst for you. I see why people must to support ukraine...braiwashed

Edited by pippospano897
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Cryptocurrency as a means of payment is a threat to national currencies, so governments of economically developed countries will never allow cryptocurrency to become a legal means of payment. In addition, cryptocurrency is quite difficult to trace, so it will be necessary to reform the tax system.

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I don't think making cryptocurrency a means of payment is a smart idea. It would be much better to exchange your cryptocurrency for real money and use it to pay for everything you need. I've been trading cryptocurrency for a long time but rarely take money out of circulation. But because of the war in Ukraine, I predicted that the cryptocurrency market would go down, so I decided to use crypto as a deposit. On this website hodlrate.com, I found the most profitable way to invest crypto. Thanks to this, I get a stable passive income.

Edited by wadiihindu
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I think isn't a good idea to involve cryptocurrency as paying method, i prefer to know exactly how much value has the currency i charge for and really don't have time to check cryptos ups and downs. Also, introducing the crypto currency and the privacy they warrant may be in conflict with the data Fiverr needs to work with.

If i'm ever interested in buying cryptos i can always do it myself.

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