Bitcoin Payments Policy
Introduction
We have adopted a Bitcoin payments policy here at LightningSpore.com, which provides many benefits to you as a customer while streamlining our business operations.
Privacy
There are many ways to use Bitcoin, and some methods are more private than others. Accepting Bitcoin directly allows our customers to have the choice in protecting their identity when ordering our products. In addition, you may have seen other mushroom vendors, who “accept crypto”, and see that they have an integration with Coinbase Commerce or some other centralized “crypto” payment processor. If you use these vendors, you are potentially sharing your information with a 3rd party. At LightningSpore, all of our Bitcoin payment processing is done by our own infrastructure (its pretty easy to do honestly!), so you can be sure that your information is safe with us.
Product Selection + Simplicity
Another benefit of our policy is we do not have to worry about credit card companies pulling the rug underneath our payment rails, so we can focus on developing quality products, and not on financial services.
Settlement Finality
Many online business have to deal with something called “the chargeback problem”. When doing credit card payments, the payment often is not truly final for MONTHS. As a supplier of physical goods, we aim to ship as fast as we can, with the highest quality that we can. We cannot wait for finality or else people would be very upset. By accepting Bitcoin (onchain and via the Lightning Network), we get around this problem, and can achieve fast settlement of your payment. Since we have confidence in our incoming payments being final, we can offer you better prices, as we don’t have to build in the chargeback risk into our prices.
Conclusion
We hope that you can understand our reasoning for this policy. We also understand that many people might not want to buy and hold Bitcoin. For those people, we have created THIS blog post, which shows you how to pay a Bitcoin Lightning invoice using CashApp or Strike, without creating a Bitcoin wallet. It is exactly like sending cash USD, but uses Bitcoin in the background to facilitate the payment!