Yesterday I talked about an idea to get Shopify stores to accept steem currency.
The basic concept is that if we could get stores to accept the steem currency as a payment method it would have a huge impact on the currency valuation.
And it would add a lot of value for the users. People could use it to buy stuff!
@jerrybanfield suggested that I look at Changelly.com as a solution to change the steem dollars into bitcoin. Then change the bitcoin instantly into USD. And it is this USD that is deposited into the Shopify store's account.
Today I sent off an email to Changelly.com asking a few questions about their API.
The main concern right now that I have is how to minimize the transaction fees. Because there are multiple steps to go through and different sites are taking a cut.
What do you think is a reasonable percentage that people would be willing to pay to be able to purchase something with steemit on a Shopify site? (including all costs)
Hi @jordanarsenault I am a friend of @jerrybanfield and a fellow Udemy creator! I hope to see more posts from you and feel free to follow me at anytime!
@jordanarsenault, sorry man but I don't have an answer to this dilemma, but I appreciated you bringing these types of issues to the front lines.
Looking forward to more great content - following!
Thanks @sumatranate!
Change fees for me are normally 1% at a minimum to go to USD from Steem to as much as 3% to 5% depending on which exchange I use to buy and sell. Steem through changelly to Coinbase USD is often 1.5% fee minimum which is lower than a credit card!
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