It’s been +3 months (*again) that I haven’t published anything here on my blog but I got to get out of my cave today for a word of warning about Karatbars now offering Bitcoin as a payment option… as it’s not setup properly!
Bitcoin is an alternative to credit cards
I’ve noticed that “payment by Bitcoin” in the back office last week and took the following screenshots and would not suggest to use it until it’s setup properly as an alternative mode of payment, separated from the credit cards option.
1. The problem is that we have to select the credit card option (*and get an extra 74 EUR fee)
2. In order to access the Bitcoin option (*which makes no sense)
3. The problem is that it makes people paying a credit card transaction fee (*for paying in Bitcoin?)
4. The solution is simply to use a different bitcoin processor company.
Payments options should be:
Credit Card / Debit Card
And not Credit Card / Debit Card / Bitcoin (*like it’s featured today)
That said …
I simulated a purchase of 2121EUR ($2,247.66) but when it was time to pay,
the 1.97250384 BTC corresponded to $2371.15 and that’s another +$100 in fees that goes up in smoke.
Bitcoin = Yes
Paying 10% extra for using it = NO
My $0.02: The initiative was good (*better late than never) but not well-executed.