Fiverr Forum

Why no withdrawals in bitcoin?


#1

So fiverr will accept bitcoins as payment on our behalf and then convert to dollars?? seems crazy to accept but not pay out?



Bitcoin should be an option for sellers to withdraw. As you can imagine someone is probably already planning a btc version of fiverr, trying to strangle btc always ends badly.


#2

Bitcoin has a spread of around $200, good luck gambling with that.



The reality is fiverr commissions would look extortionate compared to zero transaction fees with bitcoin.



Fiverr and paypal extract about 33% of sellers earnings, this could not be justified with bitcoin.


#3

I think that will be a great idea :slight_smile:


#4

Probably will be sometime! and Shall be!



For Fiverr is better business to keep the BTCs. Having said that. If you are planning to spend some Satoshis in a gig, wait to the value drops and buy the gig. Play along with the market :slight_smile:



And this is the reason they don’t allow withdrawals because I would wait to Bitcoin value is high and withdrawal! So they are playing along with the market :slight_smile:



Cheers.


#5

Furthermore, If fiverr decides to make this option available will be killing their business with Paypal!!! No fees to Paypal how great is that ? All money we earn to us :slight_smile:


#6

Ahh. I figured there’d be a catch here.

Looking forward to finding a fully integrated BTC site.


#7

Reply to @harrymmmm: I look forward to that too.



however it is a great start for Fiverr.


#8

It is a great start. I even have a gig in place to help people get a wallet downloaded and set up.



Still, I would love to have the ability to bypass PayPal’s fees and just have the bitcoins sent straight to my wallet.


#9

Reply to @ridleyreportcom: Yep I have a gig as well for Bitcoin and Litecoin. I’m member of Bitcoin Foundation and Bitcoin Australia Association.



And yes again I will love to have those satoshis in my wallet not in fiverr’s wallet at coinbase.


#10

It is interesting also that fiverr is willing to risk the value of BTC lowering before the USD are paid to seller…


#11

It’s a profit making venture for Fiverr. It is not meant for convenience for anybody. Their mission is to take a gamble on the price of bit coin rising. This means that they will end up profiting from the bit coins. If all goes to plan they will make more than their 20% commission through cash sales.



They won’t ever let us withdraw in bit coin (not that I would anyway)


#12

Fiverr is using Coinbase to process their bitcoin purchaces, which means they are in all likelyhood exchanging btc to usd instantly on receipt. I doubt they are holding much (if any) bitcoin.



There is a Fiverr clone that uses bitcoin, but i doubt it gets much traffic.


#13

I would also like to be able to withdraw in bitcoin. I really don’t like having to have more fees taken out through PayPal. I don’t mind paying Fiverr a fee but PayPal can jump in a lake.



I already pay for everything in btc because it’s so easy.