Crypto currency as a payment for Jewelry

[Safiya_Alexandrite]

What do you think about accepting crypto currency as a payment for Jewelry?

 

[Jaros]

I would only accept a direct bank deposit/cash. Don't trust Crypto anymore.

 

[mbasko]

Well this is sounding legitimate......

 

[silver]

Might do pretty good on a jewelry forum... be some sellers there I'd recon

 

[Deepseeker]

It depends. If I knew them well I'd have no problem with accepting crypto. But if they just blew in with no hello or introduction I'd probably be a bit suss about it

 

[reefer]

I'd be suspicious whatever the case sounding and smelling a little....fishy already!

 

[Kotolos]

What do you think about accepting crypto currency as a payment for Jewelry?

Yes its a smart idea. not even exclusively for jewellery, for any buy/sell or transaction or eCommerce. Doesn't have to be bitcoin or ethereum, there are many other stable coins that can be used for this purpose that have instantaneous transaction times, very low transaction costs (cents) unlike other cryptocurrencies which can have an insanely high cost in reference to use with transactions buying and selling, and also having relatively stable prices short terms 1day-1week+ which avoids massive fluctuations and can result in money loss thru currency exchange rates.

XRP is an example that fits the above criteria.
Yeah can be great if both parties are willing to pay and accept crypto for any type of sale. Ive used crypto and xrp for gem sales and other transactions/eCommerce

 

[Kotolos]

I would only accept a direct bank deposit/cash. Don't trust Crypto anymore.

What reasons or what have you experienced to not want to use or trust crypto for receiving or sending money?

 

[Kotolos]

It depends. If I knew them well I'd have no problem with accepting crypto. But if they just blew in with no hello or introduction I'd probably be a bit suss about it

I mean if they send the correct amount into your wallet and you receive the crypto, a finalised transaction random person or not when selling something and then you post/ship the package or item, theres nothing sus or you being in danger of not receiving the money. Its not as if its a random and can charge back the transfer like on paypal after you've sent the item or they have received it

 

[user 22230]

What reasons or what have you experienced to not want to use or trust crypto for receiving or sending money?

My laymens reason not to accept that form of payment would be simply given the current market, I might sell an item worth a K and the crypto I get paid in might only be worth half that by the time I receive it

 

[RM Outback]

Yes its a smart idea. not even exclusively for jewellery, for any buy/sell or transaction or eCommerce. Doesn't have to be bitcoin or ethereum, there are many other stable coins that can be used for this purpose that have instantaneous transaction times, very low transaction costs (cents) unlike other cryptocurrencies which can have an insanely high cost in reference to use with transactions buying and selling, and also having relatively stable prices short terms 1day-1week+ which avoids massive fluctuations and can result in money loss thru currency exchange rates.

XRP is an example that fits the above criteria.
Yeah can be great if both parties are willing to pay and accept crypto for any type of sale. Ive used crypto and xrp for gem sales and other transactions/eCommerce

What were your thoughts and transactions back in 2021 when the post you quoted originated. A lot has happened/changed in crypto since.

As for me there's not a chance I'd ever entertain the idea of accepting crypto as a means for payment.

 

[Hawkear]

Like playing a game of Pass the Parcel, when nobody understands what’s in the parcel.