Payment processor and cryptocurrencies

[Xamilow]

Hello good day. I have an LLC, Mercury bank account, and am thinking of implementing Stripe.

My idea is that they buy products on a page with legal products. And they receive cryptocurrencies.

The objective of this is to have the price of the coins much cheaper due to a ban in my country.

Sounds like a good idea? Do you think it will work? I accept criticism and advice.

 

[JohnLocke]

It's a way of camouflage an exchange business‍ ?

 

[Xamilow]

Yes, I receive the money in dollars. They receive the cryptocurrencies.

I am left with‍ a good profit.
I know there are risks, that's why it's only for a very⁠ selected group.

 

[CaptK]

What country are you in?

 

[startfleetio]

Very risky business. Good luck!

 

[JohnnyDoe]

Good idea. Just make sure you do a⁠ proper checkout and actually ship the product if you receive a test order from the⁤ processor

 

[NicolasMaduro]

How would you do it if someone chargeback their payment and say they didnt receive‌ their package?

 

[JohnLocke]

that is always the way they sooner or‍ later find out what it is you are doing!

 

[Xamilow]

Argentina
I will have the personal information of these people.
I know, I'm thinking about it a lot. I have⁣ to protect myself more, I could even know the exact location of where they live.⁢

What do you think of WooCommerce Payments?

 

[uplana]

it won't help you, as soon as the CB hit's your account chances are they will‌ investigate it and figure out what you are doing!

it is a plugin as far as I know⁠ not a payment processor?!

Any payment processor that you can fool to approve your business⁤ will work for you until the day you get hit by an CB!

 

[JeffBesos]

How will you get stripe to accept processing your sales? You need the website fully‌ setup and possibly prior sales?
I am not sure how that works, I got denied‍ by Stripe a few years ago. I might try now that I got solid foundations.⁠

 

[JamesDonkey]

Buy products and receive cryptocurrencies -- how's that?‍
and what kind of products - physical or virtual?

 

[myshufflemix]

sending physical goods could protect you from chargeback claims. You would easily be able to‌ claim you send a product with proof while the disputer don't tell the truths

 

[clemens]

that is very important anyway. If you just get one chargeback you are game over.

 

[uplana]

did it work out for you as you expected it or did you realize that⁢ it wasn't worth it?

 

[JeffBesos]

second that. stripe charges you , what? 5 % of the total? does it have‌ other fees to withdraw to bank after that?

 

[CoinMaster]

The 5% in high risk payment processing is nothing if you ask me, I have‌ seen processors charge 10%, 20% and even 25% in very high risk business activity. Not‍ to speak about some gray area or illegal business which pay 35% and more!

Stripe is a good mainstream processor for the very small guy. I would never trust such⁠ a big company my business.

 

[lostguy]

It is possible to find a payment processor. Actually I figured out who CEX is‌ using! They have high requirements but they can, if you know your stuff, open accounts‍ for crypto companies.