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

[Brushless4500KV 4214]

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?

[sdsonjoy50 886]

I know there is a solution, you can see who has paid you, already many shops and online markets are using this system, you can contact such companies before starting your business.  For example - namchep.com is using the Bitcoin payment gateway.

[tienda 8776]

I think there are a lot of services that use this system of payment, you need just to do some effort to search in google or also what you are doing right now looking here in cryptotalk.

[Nakamoto 279]

7 hours ago, Brushless4500KV said:

you can not find information about their payments.

It is all printed on the block explorer. this is not a serious problem.

 

7 hours ago, Brushless4500KV said:

If anything happens, you (as the shop owner) don't have access to any transaction details

OMG, that is what makes blockchain different. Everyone can confirm and see all transactions in the block explorer. All you have to do is ask their tx id for the payment.

[Emma 611]

9 hours ago, 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?

At present, we use many wallets such as coinbase wallet. We will show our transection history . Also we can add memo with our transections. or they will make individual address for all as we deposit in exchanges

[Afrizal rahman 2636]

Yes very many payment sites. You can see and search it on Google or watch YouTube videos about it. You can also see the answer here, on crypto talk.

[PiroSense 2681]

13 hours ago, Brushless4500KV said:

You can't detect the wallet owner

If you're already familiar on how payments on cryptocurrency works, then this shouldn't be really a problem. What you should do is generate a new key pair (public and private key) for each transaction to be made. Send the public address to your customer, and if that newly generated address receives the exact amount of coins you intend to charge, then you'd know that the customer you had given it into has paid you.

 

And you cannot say that you don't know your customer's identity, since you would have communication. And even though you transact anonymously (such as using only aliases), it doesn't matter as long as you deliver the goods, and you receive the coins (in the new unique address you just made for that single transaction).

 

 

Edited December 17, 2019 by PiroSense

[duncun007 3577]

14 hours ago, 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?

well thats the problem that comes with crypto payments, the payment will be anonymous and you cant find history of transaction so you will just receive the money.

[andrehol 16294]

Perhaps the lack of direct dialogue with the client is a drawback. but the ability to pay crypto in your store is already an advertisement for you! and also this is an opportunity for international trade. More pluses

[Fatihgani12 348]

Well this online store has a positive impact that makes it easier for people to invest here and at the same time buy here hopefully more people like this.

[MohammadMohsin 569]

I think that your problem has a solution in the internet. cause many of the internet shops in the internet nowadays use crypto currencies as payments! You can do with your online shop too. All you have to do is a little research in the internet and you will find the solution! 

[Brushless4500KV 4214]

2 hours ago, PiroSense said:

If you're already familiar on how payments on cryptocurrency works, then this shouldn't be really a problem. What you should do is generate a new key pair (public and private key) for each transaction to be made. Send the public address to your customer, and if that newly generated address receives the exact amount of coins you intend to charge, then you'd know that the customer you had given it into has paid you.

 

And you cannot say that you don't know your customer's identity, since you would have communication. And even though you transact anonymously (such as using only aliases), it doesn't matter as long as you deliver the goods, and you receive the coins (in the new unique address you just made for that single transaction).

 

 

Thanks for your answer. This seems like a good idea but it is tiresome to generate a new key pair for every transaction. I may have to generate hundreds of them during a day. I think you mean I should produce a new wallet address for each transaction. In fact I should write the details of every customer transaction in an Excel table to know exactly about the amount paid, date of payment, name of the customer and the product he ordered. I also need something like batch number (like transaction ID in PayPal). I need this information to analyze the performance of my shop after one year to see which customer was more loyal to me and give him/her some special privileges. If someone asks for refund, I can have full access to all the details of the transaction in question.

[soupster 239]

16 hours ago, 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?

You could ask your customers to input their address they are sending from but that would be a bit tiresome. Another option is to use Bitpay they have solutions for this kind of problems. they are one of the most trusted bitcoin payment processors.

[bliznec 22268]

I think this is not a problem, and it can be bypassed with the help of not cryptocurrency wallets, but wallets in the form of fiat money. As for cryptocurrency wallets, for online stores, you first need to get funds to your account, and then request. 

[Benjamin 84]

Well, you can create an system it qill get the transaction history between the owner and the costumer, ita just very simple you just need some programmer that cam creates a system for your business to know the history of the costumers.

[Laboni 755]

Opening an online shop accepting crypto payments OK I don't know if there are problems but I think you need to analyze and research before starting a business. Also do not join new services that are usually scammed.

[AL SHAIMON 1293]

First of all thank you very much for your nice thinking. We all know that there are some disadvantages of accepting cryptos as a payment system. But we should solve this problem. You can use coinbase as payment system. When anyone do payment they can use their name or customer id than you can easily detect them.   

[Soaib khan 1035]

you can start it is good idea you can contact the company with this he will help crypto is anyomas services mybe not possible

[lucky80 1046]

On 12/16/2019 at 10:55 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. This the problem that stops me from establishing an online shop. Do you think there is any solution for this?

You can find all the information in the block explorer, mate. You can generate a different address to receive payment for each shopper. You can use Coinbase commerce for easy setup in your store.

[BTC Future 3946]

With the cryptocurrencies mentioned you can definitively see the wallet your customer is using plus you have some database of your own where you have recorded all transactions and data related. I guess you want this for refunds and for other data as after sales, customer satisfaction. For BTC ETH LTC everything is on the blockchain.

[Lubruselu 2803]

Opening the shop that's support cryptocurrencies payments it is possible if your customers are knowing cryptocurrencies. But the problem will be that there will no have escrow that's will keep you and your customers safe from blackmail each other

[Ms.o 3322]

You can check it on a blockchain explorer,an open source web tool that allows you to view information about blocks, addresses, and transaction history.

[lucky80 1046]

On 12/26/2019 at 6:54 PM, Ahmed112 said:

But there is an problem because we also facing coins markets up and downs if the price is high thats better for you if price is low thats not better for you and your shop.

The item price will be set in USD, and the BTC value will automatically change following the market price. This is not a big deal.

[Sid 589]

Maybe by using an account system in your online shop or  using payment gateways that accept cryptocurrencies CMIIW 😅

[Maxtron73 3269]

I think the best option in this case is to ask or email companies that are already doing this, and they can give you valid advice how to do everything correctly.