Opening an online shop that accepts crypto payment. But there is a problem ...

[Thekingcallme 1975]

The problem can be solved by programming a system that collects the wallet address and some information about the customer before allowing him to pay and buy on the store, such as what some platforms do request to confirm the kyc, and in doing so you will get to know your customers information

[Brushless4500KV 4214]

14 minutes ago, SCB1234 said:

I believe that smart contracts can actually help by being used to unlock things like payment address and electronic escrow. The other thing is attaching value to products- hard to charge the right amount if the value of crypto changes.

The problem of transaction history can be solved if you give anyone a unique address for every purchase from your shop. You can create a folder for each customer and save all the addresses related to him/her in it. However, setting a fixed price for every item is the biggest problem. I haven't found a definite solution for this issue yet but I think we should announce prices in USDT currency because its value is the same as USD but is not a fiat currency. We can add a note in the rules section of the shop and state clearly that if anyone wants to pay through bitcoin, he should calculate the satoshis based on USDT value.

[jacker 1095]

I have the same problem as you, I can't identify the wallet owner, so I'm afraid I'll send it wrong and I'll lose money. I used to try payment with wallet address and recipient ID, I find this is pretty good.

[Shaza Ahmad 1682]

I did not understand why you consider the lack of knowledge of the buyer’s identity a problem? Many stores deal in cryptocurrencies and bitcoins in processing payments like Amazon store without problems.

[Rezort 846]

Most of the companies that are already accepting cryptocurrencies just don't think about returning money if you sent it and want it back, so the solution is pretty simple.

[Hasmizara 64]

No one will easily refund when paying. New sites are riskier. It's okay to open an online shop that accepts cryptocurrencies, but no one will believe it easily. It will take a long time to gain faith. They invent new sites to scam.

[Sennpaaai 871]

I know about few online shops which accepts crypto payment and its really useful, but this way of payment is not popular at all so idk

[imr 43]

I think see who paid you, already many stores and online markets are using this system, you can contact this kind of company before you start your business. For example, namchep.com bitcoin stoics using payment gateways.  

[Shivam1 428]

On 12/16/2019 at 9:25 PM, Brushless4500KV said:

I have thought about opening an online shop which offers crypto payment service to its customers. Everyone can buy items from this online shop and pay for them with BTC, ETH, LTC and any other famous crypto coins which are traded in large scale in the market. This could also helps cryptocurrency adoption and acceptance. But as you know opening and running a shop (either online or offline) requires some monitoring to improve your business. One of them is communicating with customers and gathering some data to help increase sales. The problem is that if customers pay through cryptocurrency, you can not find information about their payments. If anything happens, you (as the shop owner) don't have access to any transaction details for any buyer because in crypto world they are anonymous. you can only find how much money was sent to your wallet. You can't detect the wallet owner. This the problem that stops me from establishing an online shop. Do you think there is any solution for this?

Your online shopping idea is so good. But how can you take bitcoin and other coins. I think first you should try to contact with any expert of crypto currency then you may try to earn.

[Omar Ommeish 4872]

It is a great and applicable idea and I think there is a solution to this problem because you can add a customer verification button and his personal information before he transfers the amount to your account.

[Moaz 7239]

Frankly, I do not have a solution to this problem, and I believe that when the information of the person who made the purchase from your store in cryptocurrencies is unknown due to the blockchain technology this may expose you to legal problems if something bad happens about this person

[CryptoLover21 0]

You can open online shop that accepts crypto payment. There are many solution are available from where you can see details information of your customers many company accepts cryptocurrency as payment you need to follow them. 

[TimopheyKa 3900]

I think that in such stores, the exchange rate of the cryptocurrency itself plays a big role. Because if it is not tracked in any way, it can be a big loss for the business!

[Mehar446 280]

Yes you can use the ethereum platform & build some Smart Contract tat could attach special identifier to each transaction & the customer should also use same in the cart as a proof. This is the best way to solve such problems.

[TheRaed 1247]

It is a definitely successful project and I advise you to initiate such a project, but you will need programmers who intend experience to get rid of scammers and hackers and not to get into trouble

[hasan007 206]

Few online market are still exist in the market, its  great things that the user can spend their profit by doing shopping in these market. The market will improve the acceptance of the crypto among others. Its true that the transaction is the btc is anonymous and its difficult to get trace but these online is already manage this issue. 

[d1msolino 24]

You can take in account , how Elly App solved this problem , they just have created their own crypto vacum , where you can exchange ETH for Ell, and Ell can easily be found on ETH chain

[Cryptomint 433]

Yes this will be happened. No one can find the personal information of the costumer because he/she will pay only with the wallet address.

[percare 3192]

 

On 12/16/2019 at 5:55 PM, Brushless4500KV said:

. The problem is that if customers pay through cryptocurrency, you can not find information about their payments. If anything happens, you (as the shop owner) don't have access to any transaction details for any buyer because in crypto world they are anonymous. you can only find how much money was sent to your wallet. You can't detect the wallet owner.

You have the wrong idea that many beginners have. You can see the wallet and you can verify the wallet too. Everything is permenent on blockchain and all transcations from the first one of 50 BTC Satoshi sent to Hal Finney all transactions are on the blockchain and are there for anyone to view.

[Zeshan Khalid 2577]

That's the point, crypto can't be accepted as a normal currency as long as there is enough legislation about it throughout the world. It will be only a source of earning fiat currencies till then.

[Syedbesharat 5423]

When the customers pays the bills he would send his transaction details with screen shot before the payment. It will good details but the problem here is you have to manually check all the transactions and then send the item to buyers. You cannot handle many customers immediately you have to goon through process and then validate it. But web developers can built extension, software for you like they have built for Amazon. 

[zhoutong 2188]

An online shop payment system using cryptocurrencies is an excellent idea but friend you can find the wallets that send you the funds, and you can mark them with the names your customers give you and addresses etc. This is not hard to do and you can have a database holding the wallets you need for refunds if someone returns you an item.

[annayks 2314]

It is a good idea you had and a problem you thought up that isn't something to worry you. But you need to plan this following the patterns already set by others as otherwise if you start from scartch you will meet problems that you can solve easily if you only earn the know how from another online merchant.

[Brandonsaw 1973]

It is not very difficult to open a store that is paid with cryptocurrencies, only the transactions are the problem but if the client pays badly and his transaction does not arrive, it is his problem since he did something wrong and he lost it so the store is removed  of all responsibility.

[noshot 154]

I don't know what kind of online shop is that and why would you need to detect the wallet of your customer. I also read a lot about fees and that they don't allow Bitcoin to be used as a currency so it is viewed now differently as an investment. This is how I see it too and I wouldn't want to pay not even a few dollars for fees for something I can buy with less money.