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Noob question: Easiest way to receive crypto payments and cash out? (lemm.ee)

submitted 1 month ago* (last edited 1 month ago) by Churbleyimyam@lemm.ee to c/crypto@lemmy.ml

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Would anyone advise me on my use case?

I am launching a paid service and would like to offer the option for customers to pay in crypto. I would likely want to regularly convert the crypto to GBP for day-to-day spending at the supermarket and suchlike, rather than hold it as an investment or trade in it. It will likely be fairly small amounts at a time and therefore low-risk.

What would be the easiest way for me to do this?

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[–] burgerchurgarr@lemmus.org 2 points 1 month ago

Use Solana! It’s a super fast and cheap chain and I don’t know how it works exactly but apparently it’s also good for gaming? Never looked into it so this may be unrelated.

The easiest way imo is to just keep it in crypto and then use a Solana based crypto credit card to spend on USD. I think there are some where cash withdrawals are even free as well.

Centralized exchanges work as well but imo they’re a hassle. Of course with those crypto credit cards you have the risk of them locking you out and you don’t get the private keys for the wallet so I’d not put much more than you wanna spend on it, but since SOL transactions are almost instant I think it’s a manageable risk that you’d have as well with PayPal, Wise, etc.