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

[brownb56]

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.

 

[swimmer]

Payment processing is the biggest gatekeeper in the peptide business (maybe for good reason). It’s very hard to find reliable processors because of the nature of the business. Most flagged companies need several processors and must rotate them. Chargebacks only make things worse.
The worst I’ve seen is fitness influencers using Shopify sites... those people are clueless.

A few weeks ago, I saw a major US based "bulk" peptide seller run into issues with his payment processors. It probably cost him a good amount of money.
My thought was, why not offer a good discount for payments in stable coins like USDT or USDC? That would help minimize losses.

There are plenty of Reddit subreddits (some good, some gray, some bad) where people share ideas about payment processors for peptide businesses. I worked for a while in the gambling industry, where payment was always complicated until they built their own.

There are several problems with stable coins. First they are pegged to the dollar so they are guaranteed to lose value over time. Second they are issued and controlled by a massive corporation rather than the fed. Who knows how many actual dollars they hold to back the stable coin. If everyone tries to exchange them for dollars I doubt they have enough. For now they do seem to work for they grey market better than traditional payment systems.

 

[50ShadesGreyMarket]

Do you have one you recommend? I had no clue there was such a thing! I looked on Amazon but really not sure if any of those are any good

Cryptotag.io sells various models at different price points. I have 2 of the Thor from 2018. Before that I had a machinist friend from college help make one, back in like 2012 and it still looks great, the hand-stamped letters are a little wonky but it’s legible. We keep a duplicate of each at both homes in different states in case something horrible happened at the primary residence. Remember that if you had a disaster there’s no guarantee you’d be able to recover a safe - I learned a lot from watching videos about the safety deposit boxes in the banks of the World Trade Towers. 👍

 

[OnyxGirl]

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