Need help!

[joeytamlovebusiness]

Dear experinced fellow:

Here is my situation .

First of all, to prevent chargeback fraud,‌ i want a cryptocurrency as a payment method for my website

Second , as it‍ is for payment purpose(not for investment) i want it to have a fixed rate with⁠ a fiat currency

Third, i also need a bank account to store
the balance and⁤ a payment processor provder (credit card) for my customer to deposit my crypto wallet

in this case

Do i need a license for my own cryptocurrency?
Do i need an⁣ EMI to provide api and an account for the storage of balance?
thanks to you⁢ all, this is a very useful forum Btw

 

[nav]

Your post is slightly confusing to me. May be some senior member can help you.‌

USDT , Tether.

As you stated you need Crypto-currency as Payment method for website.⁢ For that you need a Crypto wallet.

Crypto Wallet -> Crypto Exchange (or EMI with︀ Exchange) ->Local Bank.

You mean to say your business. Well, it might depend on the Jurisdiction︁ where you will register your Company.

 

[khinkali]

As @nav says it depends on your jurisdiction. In some countries (e.g. Bangladesh) crypto is‌ illegal. In some countries (e.g. Georgia) it is illegal for a local business to take‍ payment for goods and services from local customers in anything other than the local fiat⁠ currency.

In a lot of places you don't need a license to charge customers using⁤ crypto, but you might need to account for VAT and income or corporate taxes. You⁣ might also need to collect some KYC information depending on trade size.

You could insist⁢ on customers sensing USDT, USDC, GUSD or whatever but If you are in a jurisdiction︀ supported by some service like Coinbase Commerce then I guess that is your easiest route︁ to take a variety of crypto and receive fiat money. It's probably a bit cheaper︂ if you accept the crypto yourself and then convert it to fiat, but then you︃ need to be comfortable with crypto wallets, Web APIs, etc..