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Artashes 12-12-2017 10:34 AM

Do you accept Bitcoin?
 
Web hosting is one of those industries where companies started to accept Bitcoin early in its game. However, as Bitcoin was struggling to gain momentum, some have dropped the cryptocurrency as a payment method.

Today, with Bitcoin going through explosive bubble-growth, has your position changed in its regard? Is your business planning on accepting the cryptocurrency? Or do you prefer to stand aside and watch where it goes from here?

If you never dropped accepting Bitcoin in the first place, how big and popular was Bitcoin for you, as a payment method? Have Bitcoin payments increased with time, especially over the past few months? How big did Bitcoin turn out to be in your company's growth in value?

I realize I am asking too many questions. Feel free to answer only those that you considered or those that apply to your business.

Kieran 12-12-2017 02:00 PM

I've thought of using Bitcoin in the past, but I've chosen not to.

As Bitcoin is private, people could use fake but 'real' looking registration details, buy a product, damage the servers (such as overload), or abuse services etc and leave without a trace.

I also don't like that most Bitcoin places have withdrawals set as hundreds of dollars and putting money in is usually at least 50 bucks or so.

For mid-range services I could see benefit, but low range people wouldn't use Bitcoin for the above reasons, and high range opens you up to abuse.

SenseiSteve 12-12-2017 02:52 PM

We've never considered using Bitcoin, but I know a good number of other providers do accept that form of payment.

Evolution Host 12-12-2017 03:37 PM

Bitcoin was introduced as one of our payment methods in June of 2016, we've since added support for many other crypto currencies (48 in total) including Ethereum, Litecoin, ZCash and Dash. Crypto currency payments account for around 6% of our overall income. You're probably not missing out on much by not supporting Bitcoin or other crypto currencies but it certainly can't hurt assuming you've got good anti-abuse measures in place. Perhaps it will lead to a few extra sales.

Abuse is unfortunately a concern when accepting crypto payments due to the potential anonymity of this payment method but if you have good anti-abuse measures in place to protect against mail spam and various types of malicious activity, this risk can be minimised.

We also highly value the privacy of our clients and welcome this aspect of crypto payments.

Artashes 12-12-2017 06:17 PM

Quote:

Originally Posted by Kieran (Post 226477)
As Bitcoin is private, people could use fake but 'real' looking registration details, buy a product, damage the servers (such as overload), or abuse services etc and leave without a trace.

Quote:

Originally Posted by Evolution Host (Post 226481)
Abuse is unfortunately a concern when accepting crypto payments due to the potential anonymity of this payment method but if you have good anti-abuse measures in place to protect against mail spam and various types of malicious activity, this risk can be minimised.

I actually had no idea it assumed total anonymity. I was under the impression that Bitcoin as a method of payment does not actually void the creation of a client account within WHMCS, or whatever billing/support platform of your choice is. What does processing a client that pays with Bitcoin (or other cryptocurrency) look like from an administrative perspective?

24x7server 12-12-2017 11:58 PM

We've not yet started but we do have it on our to do list in the year 2018
I heard its quite safe by using BitPay or any other secure Bitcoin Wallet. Let's see. :)

easyhostmedia 12-14-2017 04:40 AM

Quote:

Originally Posted by Artashes (Post 226484)
I actually had no idea it assumed total anonymity. I was under the impression that Bitcoin as a method of payment does not actually void the creation of a client account within WHMCS, or whatever billing/support platform of your choice is. What does processing a client that pays with Bitcoin (or other cryptocurrency) look like from an administrative perspective?

in WHMCS you have to use BitPay as the payment gateway to accept bitcoin, but clients still have to order in the same way as all other payment methods and go through the same anti fraud checks.

I offered this for 2 years without a single client choosing to use it and never get asked if i offer this as a payment method. so it removed it

alpshost1 12-18-2017 01:05 AM

We are not offering bitcoin yet. But I doubt it will be offered soon since most customers preferred to use CC or paypal to name a few. For now, that is enough as a payment option i guess.

unihost com 12-21-2017 08:01 AM

We do accept payments in BitCoins and some other cryptocurrencies, however I cannot tell you that it brought us a lot of extra clients :(
At the same time it is not 100% safety, so we had to take these risks to increase our customer base

Evolution Host 12-21-2017 11:28 AM

Due to a very significant increase in mining fees (transaction fees), it is no longer viable for clients to send small payments using Bitcoin. People are currently paying almost $40 per transaction to ensure that their transactions are confirmed within a reasonable amount of time.

You can view the following URLs for more information about the current recommended fees:
https://bitcoinfees.info/
https://bitcoinfees.earn.com/
https://estimatefee.com/

HostXNow 12-22-2017 11:16 AM

We don't accept it. Looks too risky especially when seeing articles like this

https://thehackernews.com/2017/12/la...g-bitcoin.html

DanielN 01-03-2018 03:41 AM

Not worth accepting BTC as no one will pay with it due to fees.
However, you can accept altcoins like Ethereum, Bitcoin Cash and the rest via many Cryptoprocessors like: Bitpay, Coinpayments, coingate.

hostingress 01-03-2018 04:50 AM

sometimes a transaction with bitcoin imposes a higher fee, but maybe a BTC holder will wisely choose your service.

DanielN 01-13-2018 05:19 AM

BTC fees have slightly decreased again. That being said it's still not worth accepting BTC payment for small payments.
However, the whole BTC community is waiting for Lightning Network which should reduce fees by a large margin.
Until then best to use other altcoins for payments.

whmcsguru 01-13-2018 12:08 PM

Accepting Bitcoin is risky. do you like just throwing your money away?

http://fortune.com/2017/05/27/bitcoin-price-drop/

https://smallbusiness.yahoo.com/advi...--finance.html

https://www.pymnts.com/blockchain/bi...rrency-bubble/

http://www.bbc.com/news/technology-26118002

https://www.bloomberg.com/news/artic...ill-make-money

If you still want to use bitcoin after reading those, I've got a bridge in the Nevada desert to sell you.

At least with (U.S. based) stocks, they're regulated. If something like this would have happened in the stock market, so many times, it'd be investigated.

Sadly with bitcoin, it's a plethora of problems, including anonymity and not being able to count on stability. Mock the USD stability all you want, but I've yet to be able to walk down to the bank and take out $1 , or have my actual $$ decrease in availability , or value (at the bank).


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