More US-based vendors moving toward Crypto-based payment?

[Cassie MKM]

The way I see it, if they want to move to crypto they can get more competitive with gray. I understand that charge backs and payment processors is a large part of loss for them. But if I'm paying with crypto then they can lower their prices with that reduced overhead. I've found one such vendor so far.

After the first cooperation. This can establish a long-term trusting relationship.

 

[Cassie MKM]

Yes, Bitcoin is actually very convenient

Remember if the site makes using btc difficult it is their fault not bitcoins.

 

[swimmer]

Each network has its own rules and native coin. Ethereum network uses ETH, Bitcoin network uses BTC. Transactions happen inside the network and they don’t naturally talk to one another.

Stablecoins are pegged to $1 regardless of which network they’re on. A stablecoin can exist on multiple networks, but each version is separate. USDT on Ethereum is ERC-20, for example. The $1 is the same value as a stablecoin on any other network but you can’t send ERC-20 to the Bitcoin network.

A bridge locks your token on one network and “mints” a wrapped version on another.

If you want to move USDC on Ethereum to USDC on Avalanche you use a bridge (or an exchange) to lock your Ethereum tokens and create Avalanche tokens (sorta like escrow or a lock that requires two keys). You can bridge back, the Avalanche coin is burned and Ethereum coin is unlocked. Like having a claim ticket for your car at valet.

Centralized stablecoins are backed by real assets like fiat and you’re putting your faith in a regulated entity and some folks feel more confident in that. Decentralized is putting your faith in the code but you can see the transaction on-chain so some folks feel more confident in that.

Some issuers release their coins on multiple networks (like USDC) but they reside independent of one another despite sharing the same reserve.

excuse typos, walking dog, typing with one thumb

Wow! That is a good summary. No wonder new users are intimidated using crypto for the first time!! Just think if you miss a step or send to the wrong network you can lose all your money. I would suggest btc for the beginners. It is more simple to use. I have seen less costly mistakes with bitcoin.

 

[50ShadesGreyMarket]

Wow! That is a good summary. No wonder new users are intimidated using crypto for the first time!! Just think if you miss a step or send to the wrong network you can lose all your money. I would suggest btc for the beginners. It is more simple to use. I have seen less costly mistakes with bitcoin.

Yeah, I love ETH but the gas prices add up over multiple transactions. :/

 

[fatty33]

Each network has its own rules and native coin. Ethereum network uses ETH, Bitcoin network uses BTC. Transactions happen inside the network and they don’t naturally talk to one another.

Stablecoins are pegged to $1 regardless of which network they’re on. A stablecoin can exist on multiple networks, but each version is separate. USDT on Ethereum is ERC-20, for example. The $1 is the same value as a stablecoin on any other network but you can’t send ERC-20 to the Bitcoin network.

A bridge locks your token on one network and “mints” a wrapped version on another.

If you want to move USDC on Ethereum to USDC on Avalanche you use a bridge (or an exchange) to lock your Ethereum tokens and create Avalanche tokens (sorta like escrow or a lock that requires two keys). You can bridge back, the Avalanche coin is burned and Ethereum coin is unlocked. Like having a claim ticket for your car at valet.

Centralized stablecoins are backed by real assets like fiat and you’re putting your faith in a regulated entity and some folks feel more confident in that. Decentralized is putting your faith in the code but you can see the transaction on-chain so some folks feel more confident in that.

Some issuers release their coins on multiple networks (like USDC) but they reside independent of one another despite sharing the same reserve.

excuse typos, walking dog, typing with one thumb

WOW....that was WAY over my head LOL. But thanks for the info!!!

 

[50ShadesGreyMarket]

WOW....that was WAY over my head LOL. But thanks for the info!!!

Read it slower then. If you’re familiar with crypto at all it will make sense. I tried to use as much analogous language as possible so that it doesn’t intimidate. You can only dumb down the explanation so much before your examples no longer make sense.

 

[FitnessWannabe]

This has been my main issue buying from gray vendors is my ignorance of crypto.

There is a bit of a learning curve with crypto. And it takes a bit of practice to be good at it.

 

[Gr33dyOctopus]

This has been my main issue buying from gray vendors is my ignorance of crypto.

Well, figure it out! You resea4xhed enough to get here, there's plenty of guides around. I think this is my third day here, zero idea coming in how to use crypto, but found some guides to study after work, I cant hardly wait to learn!

 

[Retazempic]

The issue for me is that what works one time does not always work the next time

The two main variables are:
-the source of hard currency I use to buy the crypto; and
-the platform I use to buy the crypto

For example, my bank is completely inconsistent about when it will let me use my own money to buy crypto. Sometimes it lets me use my debit card, sometimes it only lets me pay using my account/routing number and sometimes it doesn’t let me do it at all. And it doesn’t matter if I’m buying through PayPal or Kraken

Similarly, both Kraken and PayPal are inconsistent about when they will let me send my own crypto to my “wallet”

 

[OnyxGirl]

Way to be passive aggressive.

 

[yoyotired]

After reading through this, seeing all the Black Friday specials and some self debate, I decided to take the plunge and place an order that requires crypto for payment. So far fairly frustrating. I got the how to buy and what to buy part. I believe I even have the payment part down but Im so used to the instant gratification of making a payment and knowing it was received and the order processing is in the vendors hands and moving forward when using my normal payment methods. With crypto, and being new to it, I decided to send a test payment of $1.00 to be sure I did it right and it's received correctly. I let the vendor know this and they said no problem. I've been waiting for 3 days now for them to confirm the test payment. The sales rep keeps saying he's waiting on his boss to confirm and apologizes for the delay. Frustrating but I get it. The whole process seems so inconvenient vs traditional payment methods. I think typical e-commerce has spoiled me..lol. Nothing about using crypto has been hard to speak of just so drawn out. Im hoping this moves faster as I gain experience with it.

 

[basedpepbae]

What I’ve gotten from crypto so far is:
1. It’s better to have it ready to go than to decide to fund it when you’re wanting to make a purchase.
2. It can be nerve wracking waiting for that confirmation of payment.

So far, I haven’t needed to use crypto, but I might test out a transaction just for the experience. Not anytime soon though 😜

 

[yoyotired]

What I’ve gotten from crypto so far is:
1. It’s better to have it ready to go than to decide to fund it when you’re wanting to make a purchase.
2. It can be nerve wracking waiting for that confirmation of payment.

So far, I haven’t needed to use crypto, but I might test out a transaction just for the experience. Not anytime soon though 😜

That's really why I ultimately decided to make this purchase. An exercise for the experience. I did exactly that. Made the decision to do it. Funded it over a few weeks so I knew what I had to spend and then looked for deals/ vetted potential vendors.

 

[Varixdos]

It's kinda best to just make your payment then forget about it. Sometimes tracking comes through, sometimes not, or it's not updating appropriately on location and then all of sudden you have your package.

 

[yoyotired]

It's kinda best to just make your payment then forget about it. Sometimes tracking comes through, sometimes not, or it's not updating appropriately on location and then all of sudden you have your package.

Lol. If I was 100% sure I was doing it correctly I probably would. I have just enough doubt that I can't get myself to send the full amount with out confirmation of the test. Seems silly that it's taking so long for them to confirm.

 

[Gr33dyOctopus]

I do not use SOL or any coin on the SOL chain but I have a feeling the peps you buy with crypto save you more than 27.00 compared to the "safe" forms of payment.

Ive been living that life, and the crypto savings are considerable. None of the cheapest vendors straight outta china take anything but crypto, its a little frustrating, but meh, have more than 2k mg in my freezer now its not like I really need more. At this point its just fun and a collection

 

[Calm Logic]

After reading through this, seeing all the Black Friday specials and some self debate, I decided to take the plunge and place an order that requires crypto for payment. So far fairly frustrating. I got the how to buy and what to buy part. I believe I even have the payment part down but Im so used to the instant gratification of making a payment and knowing it was received and the order processing is in the vendors hands and moving forward when using my normal payment methods. With crypto, and being new to it, I decided to send a test payment of $1.00 to be sure I did it right and it's received correctly. I let the vendor know this and they said no problem. I've been waiting for 3 days now for them to confirm the test payment. The sales rep keeps saying he's waiting on his boss to confirm and apologizes for the delay. Frustrating but I get it. The whole process seems so inconvenient vs traditional payment methods. I think typical e-commerce has spoiled me..lol. Nothing about using crypto has been hard to speak of just so drawn out. Im hoping this moves faster as I gain experience with it.

Chinnese customer service is another reason I prefer domestic vendors, where you are talking direct to the owner.

Like for my first order with Amino Lair, I told him I was in a rush and he went to the post office within an hour. But he usually ships same day anyway (and often replies within 60 seconds). For singles, BioBombshell has great customer service too, as does PAE and Grey Axis Research. And none of these vendors require crypto.🔙

 

[Thistley]

I am very pro crypto but also I am a total technophobic utter veg eating dinosaur 🦕

I was genuinely terrified to sort out Bitcoin for my first grey purchase but it was so easy and straightforward. If you tell the vendor you haven’t used before and send 10 dollars first. Send your screenshot they confirm they received and then send the rest. Then screenshot.

The cognitive stress comes from I have is conversion and fees. So I get the price from my vendor. Say $300 and then I need to look up what 300 US dollars is in uk pounds. And what $300 is converted to bitcoin at today’s price. Then I need to make sure I have bought enough to pay small fee to buy crypto and again to send it.

Im confident this will put a lot of people off buying grey. But does open the market to being a third party domestic seller….

Honestly If I had more money I’d be buying bitcoin right now the price is rather low and it’s going to head up up up pretty soon I reckon ( of course it is a risk and no one knows)

 

[nonyabizznez]

I am very pro crypto but also I am a total technophobic utter veg eating dinosaur 🦕

I was genuinely terrified to sort out Bitcoin for my first grey purchase but it was so easy and straightforward. If you tell the vendor you haven’t used before and send 10 dollars first. Send your screenshot they confirm they received and then send the rest. Then screenshot.

The cognitive stress comes from I have is conversion and fees. So I get the price from my vendor. Say $300 and then I need to look up what 300 US dollars is in uk pounds. And what $300 is converted to bitcoin at today’s price. Then I need to make sure I have bought enough to pay small fee to buy crypto and again to send it.

Im confident this will put a lot of people off buying grey. But does open the market to being a third party domestic seller….

Honestly If I had more money I’d be buying bitcoin right now the price is rather low and it’s going to head up up up pretty soon I reckon ( of course it is a risk and no one knows)

Or you can ask the vendor the amount in Bitcoin or whatever crypto they want. PGB requires you pay this way. It's easier to match order to payment when it's multiple decimals.

I'm also a veg eating dinosaur fwiw. 🥦

Can't use corn or eggplant anymore... Why can't the pervs take the meat emojis? I've no use for them. 🍗

 

[Gr33dyOctopus]

Chinnese customer service is another reason I prefer domestic vendors, where you are talking direct to the owner.

Like for my first order with Amino Lair, I told him I was in a rush and he went to the post office within an hour. But he usually ships same day anyway (and often replies within 60 seconds). For singles, BioBombshell has great customer service too, as does PAE and Grey Axis Research. And none of these vendors require crypto.🔙

Thank you so much for your help CalmLogic, I appreciate your time and effort. And those cool.sites you suggested are plenty good enough!