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Tuesday, October 4, 2022

How Can You Entice People to Pay You in Crypto?

Do you have a suggestion for easy on-ramping clients who are hesitant or resistant to doing the extra work required to pay for services in crypto? Well, yes. I have two suggestions, the bad one and the good one.

The bad one is you go crazy telling them about why crypto is going to save us from the world domination of the Illuminati with the black helicopters that are trying to create a new world order under a single monetary system that puts us all in slavery and they will become hesitant not to just to use crypto, but also to use your services. Or, the good solution which is you offer them a discount. This is a market-based system and the power of discounts is pretty cool.

I used to do that on my invoices when there were very, very few people willing to pay me in crypto, I had a 20% surcharge for paying in fiat.

Instead of describing it as a discount for crypto, I described it as a surcharge for fiat. So I had a price and you could pay for that price in Bitcoin, or you had to pay 20% extra, which I called the banking inconvenience fee if you decided to pay me through a 1970s bureaucratic bullshit system, like the banking system.

And a lot of people were like, hmm, this crypto stuff is complicated and difficult, but 20% you said? I’m gonna get my 10-year-old to teach me how to do this.

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Read More: 10 Things You Should Know Before Investing in Ripple XRP

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