Adding International Payment and Crypto (bitcoin, Xrp)

Hello lovely patreon community and support,
I’m so honored to write here for first time since became a creator last August.

As asrrolger that is specialist to finance, I’m pretty worry about the limitation of patreon system basing on Fiat currency alone (USD, EUR)

To my view, dollar value is about to fall dramatically and lots of creators and patrons may pay the price.

Have patreon support ever though to add /implement a way to charge /get paid by crypto currency? Maybe any collaboration with Wirex /coinbase?

I already have many potential clients that are outside of the U.S meaning India and Venezuela that would love to join my Patreon channel but can’t have credit card niether paying by USD.
they are using instead cryptocurrency.

(I charge crypto on my website as well and very happy to to get crypto than Usd, first because I’m valuing more the value of this asset, second I have all ways possible to convert when needed to Usd)

Would love to hear from you in regard.

I strongly believe that taking one step ahead to crypto now will save patreon system from worst cases scenario and it’s finance modoule.

Thanks,

Osher

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You have got to be kidding. I cannot think of anything more dodgy than a fictional, unregulated, unbacked currency banned in several countries and that crashed spectacularly this very year. For anyone interested, some of the legal and technical issues with cryptocurrencies are listed here.

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Hello @Astrofinance! Thank you for making your first post in the forum :smiley: we’re so happy you’re here.

As Patreon grows, we’re always looking for new ways to help creators grow their earnings, and we understand that accepting multiple currencies is one of those ways. I checked with the team and they let me know that we hope to add more currencies in the next year, and I can share this specific crypto request with the Payments team who are evaluating payment methods.

I’ve heard a lot of talk about these sorts of currencies but I don’t really know anything about how they work. I think if there was the option of paying with cryptocurrency that it should be at the creator’s discretion because I’m not sure you can really exchange the currency into more standardised currencies. If I’m wrong then disregard this.

If I can’t buy pizza with it I don’t want it :stuck_out_tongue:

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Please pass this request to add crypto currency payment to most compatible department. I’m sure patreon future will be more safe and stable for years a head with enabling to patrons to pay with some main crypto (BTC, ETH, XRP) these digital coins can be converted imidiately to any other Fiatcurrncy with main US companies such as coinbase, coinomi ext…

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these digital coins can be converted imidiately to any other Fiatcurrncy

Which kind of defeats your argument. If it is so ease to switch between the two, then there is no requirement to support crypto currencies. If you would store your money this way, you could “convert it immediately” ahead of Patreon payments or after receiving money from Patreon. :wink:
Your speculation (read in the stars?) that the dollar would fall “dramatically” would be irrelevant in this case.

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I aware to convert any dollar to crypto from my end and when needed.

I’m speaking about enabling to clients becoming patrons using crypto instead of credit /debit card; big part of my clients that are willing to become patrons don’t have supported USD card to do it; I accept on my website cryptocurrency and enable them to take part of in my work…

If you assume that patreon platform is dedicated to US and Europe citizens it’s sad… huge community I get from India, Asia and Latin America; they speak English and love to be on patreon, but can’t pay using their currency or card restrictions.

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I have not said anything like that. Do not put words in my mouth.

The currency is irrelevant, since the amount gets converted by the bank/payment provider. But even if there would be limitations for certain countries, then the goal would be to overcome these limitations, e.g. by adding support for local banks and payment providers. There is no logical necessity to jump to: so we need crypo currency.

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Yet, accepting any cryptocurry should be a lot easier and faster to implement than to try covering the rest of the world by adding support for local banks and payment providers. The latter would be a slow process that will never be complete, whereas cryptocurrencies readily work across borders and the code is already available.

That said, currently cryptocurries work fundamentally different from credit cards or PayPal, in that you can’t automatically “charge” a cryptocurrency wallet. The owner always need to approve the payment. But that could be solved by adding a page where a patron can see his open payments and execute them. At the same time, paid posts would remain unavailable until the payment was done (though that’s a mechanism that should be already in place, for example to deal with failed credit card charges - though I’m not sure if Patreon does that at the moment).

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Yep. Which is kind of the foundation of a subscription service like Patreon.

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It is not constructive to only highlight the problem and not respond to the solution I had suggested alongside.

As far as I can see the only difference is convenience. In EU, having subscription services automatically charge your account is optional and requires a separate form to be signed. I don’t see why it couldn’t be optional on Patreon, regardless of the payment method.

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First of all: I don’t see why highlighting a problem should be “not constructive”.
Second of all: I indirectly did address your “solution” by pointing out that automatic charging is usually a foundation of subscription services. Since what you propose doesn’t solve that, it doesn’t meet the requirements. It’s the same reason why I can’t buy subscriptions with gift cards/credits on iTunes if I just have the amount of the first subscription period. The vendor wants to make sure that you don’t just want to get the subscription product once and then every consecutive payment will just fail. I would expect that Patreon has a similar or even stricter approach in that regard. But of course I don’t work for Patreon, so this is all pretty hypothetical. But again: nothing wrong with pointing to these problem as a possible explanation, why such solutions might not be implemented.

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Even with automatic charging, any subscription service already needs to deal with a failed charge. A pending payment is no different from an outstanding credit card charge. That’s why I said that even if currently popular cryptocurrencies don’t support automatic charging, this is not in itself a reason why Patreon couldn’t support them.

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Sure, but the conversion rates are completely different if you have for example 99 automatic payments and one fail vs. 100 payments that need manual approval each and every month.

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+1 for crypto support, although I can see the lack of blockchain subscription support on them making this something that wouldn’t be able to be added until/unless Patreon adds a wallet system so you can have a couple months worth in your account at a time (otherwise you’d have to re-top every month, which users are unlikely to have time to do IMO)

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I would suggest something like that, but I found this topic.

I believe that Facebook coin created a new perspective on this matter.

I read some things about issues on cryptocurrencies, we can’t generalize like. One thing is public networks and all problems related to mining. Other thing are the private networks over the blockchain platform. I work on a bank specifically with this, and a assure that the tecnologie is serious enough for every bank being investing in solutions based on blockchain. Santander is very successfully using Ripple, just an example.

I believe that is a great suggestion to add something like that on the options.

I agree with you,

Patreon must to think either taking practical steps already before too late.

Patreon being working with paypal and payoneer platform sounds limiting to upcoming regulation and monetary system tranfomation.

I wish to get hear innovation coming out of patreon soon, the ecosystem is already changing and similar platform to patreon based crypto are already coming out and if patron won’t move forward to crypto soon I guess to experience big decline in its business modoul.

It’s just fear mongering, from your first post to your last. It wont work in this context.