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› › mrVM.net | Celebrating the birth of my 3rd son! 50GB storage and Bundle deals.. from $3/year - Page 2
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mrVM.net | Celebrating the birth of my 3rd son! 50GB storage and Bundle deals.. from $3/year

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  • WSSWSS Member

    @NodePing said:

    WSS said: Evidently you don't have enough work to do.

    HA. I was chatting with a guy in Honduras and when I told him I had 7 kids he asked "Don't you have a TV at your house?"

    I like him.

  • null_ptrnull_ptr Member

    @mikho: Do you plan on adding support for Bitcoin payment in the future?

  • mikhomikho Member, Host Rep

    @null_ptr said:
    @mikho: Do you plan on adding support for Bitcoin payment in the future?

    Honestly, haven't looked into bitcoin payment options at all so I have no clue on how to use it.

    If bitcoin is a request from many I will add it as an option.

  • null_ptrnull_ptr Member

    @mikho:

    @mikho said:

    @null_ptr said:
    @mikho: Do you plan on adding support for Bitcoin payment in the future?

    Honestly, haven't looked into bitcoin payment options at all so I have no clue on how to use it.

    If bitcoin is a request from many I will add it as an option.

    I guess the process should be somewhat similar to PayPal:

    1. Register a merchant account with selected Bitcoin gateway.
    2. Install appropriate payment gateway module for WHMCS (the one which explicitly supports Bitcoin gateway of your choice).
    3. Configure module with your secret API key, which you should be able to generate using your merchant account (or w/e is required by selected module to let the Bitcoin gateway identify you).
    4. Manage earned money from your merchant account.

    Some of the more popular Bitcoin gateways I know (which are supported by WHMCS):

    Some modules are available directly in WHMCS Marketplace:

    Others like BitPay are hosted on GitHub (or somewhere else):

    Most of those Bitcoin gateways charge a similar fee of flat 1% AFAIK, that is (example from CoinGate):

    An item in the store costs 20 euro.
    A customer wants to buy the item and selects to pay with Bitcoin.
    An invoice is generated and, according to the current exchange rate, the price is 2000 euro per bitcoin, so the customer has to pay 0.01 bitcoins.
    Once the invoice is paid, the merchant is credited 19.80 euro (20 euro minus our 1% flat fee), or 0.0099 BTC.

    But you would have to do a little more reading by yourself (ToS, transaction limits, etc.), and pick the one you feel is the best bet for you.

    It's worth to note that there's a difference between bitcoin conversion rates among Bitcoin gateways (which only affects paying customer, not the merchant), sometimes refered to as "hidden fee", but it's usually not higher than 2%, so not really that big of a deal.

    For example:

    Bitcoin average exchange rate is $1000/1BTC.
    Service costs $100 - 0.1BTC using average exchange rate ($1000/1BTC).
    Bitcoin gateway charges customer with 0.102040BTC ($980/1BTC).
    Customer buys 0.102040BTC with average exchange rate ($1000/1BTC), pays $102.04.
    Customer pays Bitcoin gateway 0.102040BTC.
    Bitcoin gateway pays out to merchant $100-$1 (flat 1% fee), merchant receives $99 (no change here).

    Some reddit user posted 9 months ago a comparison chart of 7 Bitcoin gateways conversion rates:

  • mikhomikho Member, Host Rep

    @null_ptr
    Thank you for getting all that information together, guess I have no choice now. ;)
    Better get reading and selecting a gateway ....

  • null_ptrnull_ptr Member
    edited August 2017

    @mikho:

    @mikho said:
    @null_ptr
    Thank you for getting all that information together, guess I have no choice now. ;)
    Better get reading and selecting a gateway ....

    As an additional information based on my own experience, every time I pay for something with Bitcoin, it's almost always handled by BitPay (at least here on LEB/LET), and as a paying customer I've never had any issues with them.

  • mikhomikho Member, Host Rep

    @null_ptr said:
    @mikho:

    @mikho said:
    @null_ptr
    Thank you for getting all that information together, guess I have no choice now. ;)
    Better get reading and selecting a gateway ....

    As an additional information based on my own experience, every time I pay for something with Bitcoin, it's almost always handled by BitPay (at least here on LEB/LET), and as a paying customer I've never had any issues with them.

    I went with Bitpay (for now), I have no idea if it works since I don't have any bitcoins :)
    If you would like to be my first bitcoin customer I can get you a nice deal.

  • null_ptrnull_ptr Member

    @mikho:

    @mikho said:
    I went with Bitpay (for now), I have no idea if it works since I don't have any bitcoins :)
    If you would like to be my first bitcoin customer I can get you a nice deal.

    Sure, feel free to PM me.

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