Paypal is Up to Their Old Tricks of Creating Havoc for Online Business.
Over the last month trying to operate our business has been nothing short of a headache concerning PayPal. We have had clients who have had their PayPal frozen. We have had clients who insist on using it so we get docked 3%. Then we have clients outside the USA who are sending us money in their currency and we are getting hit with the 3% plus a currency exchange fee.
This is problematic for a business like ours because we sell social media marketing as a commodity rather than a high priced service. Our margins are much smaller than your average social media marketing company. When you add up all of the fees and headaches PayPal causes, what is the value?
Bitcoin and Crypto is the Answer.
Over the last few months many of our clients have opted to pay us in Bitcoin and Crypto-Currency. This has led me to research ways to use Crypto in a more efficient way. One of my friends recommended Wirex formerly E-Coin. I think it is time we order our cards. They ship worldwide via DHL!
What to do About PayPal?
Over the next few months we will try to transition the remainder of our clients over to Bitcoin and Crypto-Currencies. Currently only 40% of our clients are still using PayPal. We have the luxury of working in the world of Crypto so most of our clients are happy to pay us in Bitcoin, Dash, Steem or any other currency they desire to pay in.