alt Hacker NewsI’m a little confused by the fees. In their pricing page (https://opennode.com/pricing) it says:
You request $100, the customer pays 0.00152 BTC, and then you get $99.
But 0.00152 BTC is almost $100? If I’m a business why would I pay $100 in BTC fees for a $100 transaction?
What is this solving? I’ll never understand crypto.
Edit: nvm I’m dumdum. Will get coffee. Thanks to everyone who replied.
Replies
You don't. They are accepting $100 worth of BTC, converting it to dollars and giving you the dollars. They are basically operating like a credit card processor with a 1% fee, allowing you to accept bitcoin but operate in dollars.
It sounds like the fee is about $1.00: the delta between $100 and $99.
??
The merchant requests 100 USD. The user pays X BTC equivalent to 100 USD. The merchant receives 99 USD aka the fee is 1 USD
$100 is the transaction value,it is not the cost of the transaction fees.
The fee is $1. They charge a 1% fee for instant payouts.