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Bitpay - new pricing model
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Bitpay - new pricing model

just got this by email :(

The new Business Plan applies a 1% settlement fee

https://bitpay.com/pricing

Comments

  • Bruce said: just got this by email :(

    The new Business Plan applies a 1% settlement fee

    https://bitpay.com/pricing

    Yes, but the reason it has to cost is they basically do the BTC -> currency conversion for you at the time of sale (of course, they bulk convert rather than running each individual transaction through an exchange, but they shoulder the risk of BTC value fluctuations). There might be cheaper services that just leave BTC as BTC.

  • I think you get a few transactions for free then 1% charge.

    Last time I looked we were already paying a transaction fee.

  • singsing said: There might be cheaper services that just leave BTC as BTC.

    I take settlement in BTC and get no charge currently, but will get 30 transaction then 1% starting Oct 1

  • It varies per account. We're on their 2 on the free account.


    Hi Michael,

    Welcome back!

    You should have recently received an email from us informing you of changes to our pricing. Based on your volume and settlement preferences, we don’t think these changes will affect your account.

    You can always upgrade your account or adjust your settlement preferences by visiting your Settings in the Dashboard.

    Read more about BitPay’s different plans on our website. Please contact [email protected] with any account-related questions.

  • jbilohjbiloh Administrator, Veteran

    0% fees weren't going to last forever, the reality is there are real costs involved with processing and settling payments, even in bitcoins.

  • Nick_ANick_A Member, Top Host, Host Rep

    Yeah, I was wondering if the 0% fees were going to last. Oh well.

  • singsingsingsing Member
    edited September 2015

    jbiloh said: 0% fees weren't going to last forever, the reality is there are real costs involved with processing and settling payments, even in bitcoins.

    Yes, but bitcoin already contains built-in rewards for processing transactions, so the bitcoin infrastructure isn't going away unless it is replaced with something even better.

    The only thing needed to be done by a bitcoin "payment processor" is hosting some wallet JS code and a websockets portal to allow the wallet JS code to interact with the block chain. This is all quite simple and not at all resource-intensive.

    For BTC to BTC https://blockchain.info seems a decent service right now with no fees.

    When blockchain.info starts to charge, someone else will be doing it free.

    However, bitcoin has fees in the sense that the built-in rewards for transaction processing create new bitcoins that represent inflation. This makes all bitcoins out there worth a tiny bit less post-transaction than pre-transaction (in theory, in practice other things affect BTC value a lot more).

    Actually, I notice blockchain.info says

    All transactions include a 0.0001 BTC miners fee.

    Though it should not be needed in most cases.

  • Still cheaper than PayPal!

  • blockchain is still free with a decent whmcs module.

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