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Nano as a payment option to save on fees

A topic by SenatusSPQR created Jun 28, 2021 Views: 346 Replies: 2
Viewing posts 1 to 2
(1 edit)

Hi,

I was wondering whether it might be possible to add Nano as a payment option. It's a cryptocurrency that's instant, feeless (literally $0) and eco-friendly (no mining/GPUs). I think the feeless philosophy really aligns with Itch's philosophy ("You might be thinking “that sounds pretty risky, what if everyone sets it to zero?” That’s a risk we're willing to take in the spirit of encouraging the generous and supportive community that’s already developed around itch.io), and I think it could really help Itch since both Paypal and cards take a fairly large cut in terms of payment processing fees, especially for the often smaller payments in these games.

I think crypto generally has a pretty bad reputation so I can understand many here might be hesitant, so let me just reiterate that Nano is very much unlike Bitcoin and such. There's no mining, no pollution, no GPU scalping, no fees, and no waiting times.

It's also fairly easy to implement as a payment option, see https://coinembed.com/ for pure Nano payments or https://nowpayments.io/supported-coins/nano-payments/ for those that prefer payout in USD and such instead.

Don't want to turn this into an advertisement post too much so let me stop here. But was just wondering what people's thoughts are on it, I think it seems like a rather logical match.

Admin (1 edit) (+2)

It is very unlikely that we will ever support any of these kinds of alt coins unless at some time in the future they become the defacto way for online payments. By supporting something like this we’re effectively making someone else rich by endorsing their invented currency that they probably happen to be holding on to a mass of. We’re better off making our own “instant, feeless currency” via a row in our database.

Hope that makes sense

Thanks

That's fair enough, thanks for the reply. Speaking for myself, I don't hold crazy amounts, and I think the advantage is that it would save a fair bit on payment processing fees for everyone. No need to share if you don't want to, but presumably Paypal/cards take 2-4% or so off every average transaction, right? I get the not wanting to get into crypto tribalism, I just think this could be a pretty nice cost savings that could be passed on to one side or the other.