Simplest and fastest method of utilizing Bitcoin for my online digital store?

I am not very versed in digital technology but am very interested in its potential and decentralization benefits. My question/s

I'm looking for the easiest and fastest method to allow a person who has never heard of Bitcoin to purchase Bitcoins and then use Bitcoin as a payment method on my online store. Most people do not want to be bothered by going through a lot of technical gyrations in order to purchase a digital product on line using Bitcoin if it involves a lot of steps and or requires a background in computer expertise. I need something that is simple so that even Grandma can do it....

Example:

Time to check out
We accept Bitcoins
Purchase Bitcoins...."click"
The person uses for example PayPal or credit card to purchase Bitcoins and then
Returns to checkout and purchase my goods and or services using their Bitcoin money
The Bitcoins go directly to my Bitcoin Wallet, and they receive their goods

Thanks for helping, I am a little handicapped in this area.

buy-bitcoins

Ritsch

Posted 2016-10-12T20:35:32.743

Reputation: 11

2You shouldn't try to make your customers buy bitcoin before paying. That's pretty much taking all the inconvenience of fiat currencies and adding extra steps to the payment. Instead, you should accept bitcoin payments from those who already have bitcoin and fiat payments from those who don't. Bitcoin is very easy to use and has a lot of advantages over fiat currencies but as @Jestin correctly described, getting bitcoin from fiat currencies is time-consuming and not easy. – UTF-8 – 2016-10-12T23:03:44.830

Answers

Unfortunately, there are reasons it isn't this simple. If it were, everyone would be doing it.

The difficulty in purchasing bitcoin online is not a technical challenge, but rather a challenge with regulations and mitigating risks. Businesses that sell bitcoin can find themselves afoul of their local laws if they do not request a certain amount of know-your-customer (KYC) information about their customers. There is also usually a verification process with this information, which can take time. They can get shut down or even thrown in jail if they don't comply.

Secondly, bitcoin transfers can't be reversed...but PayPal and credit card transactions can be. This means that if you purchase bitcoin with either of these methods, the company selling you the bitcoin will need to wait until you can't do a chargeback on your purchase. Depending on your method of payment, this can take weeks. It's what bitcoin sellers need to do in order to protect themselves from fraud.

Bitcoin, itself, offers a payment method that is secure, convenient, trustworthy, and quick. However, the on-ramps and off-ramps from fiat currencies to bitcoin have all the slowest and most inconvenient elements of the legacy currency system.

Jestin

Posted 2016-10-12T20:35:32.743

Reputation: 8 339