Episode #583
How to Boost Your Conversion Rate by Offering Bitcoin as a Payment Option
March 06, 2018

In episode #583, Eric and Neil explain how you can boost your conversion rate by accepting bitcoin as a payment option. Tune in to hear if your business can handle a shift towards cryptocurrency payments.

TIME-STAMPED SHOW NOTES:

  • [00:27] Today’s Topic: How to Boost Your Conversion Rate by Offering Bitcoin as a Payment Option
  • [00:45] On average, bitcoin has a daily fluctuation rate of 5%.
  • [01:15] There are a lot of people who use bitcoin, so even though most people don’t, you could open up your business if you offer bitcoin as a payment option.
  • [01:40] You will lose money in the short-term, but in the long run, you will make more.
  • [02:06] Eric spent the most marketing dollars on Coinmarketcap.com and they only accepted cryptocurrency as payment.
  • [02:28] Bitcoin has gone up in price, meaning that Coinmarketcap.com made money just by hanging on to it.
  • [03:05] Stripe recently removed bitcoin as a payment option, because they didn’t think it was practical.
  • [03:20] However, bitcoin is still popular.
  • [03:45] If your margins aren’t that large, don’t accept crypto, because you may suffer cash flow issues.
  • [04:08] You can always sell some off to pay for costs, but don’t accept crypto if you don’t have high margins.
  • [04:21] That’s all for today!
  • [04:25] Go to Singlegrain.com/Giveway for a special marketing tool giveaway!

Leave some feedback:

  • What should we talk about next? Please let us know in the comments below.
  • Did you enjoy this episode? If so, please leave a short review.

Connect with us:

 

Discover Latest Episodes

Episode
ChatGPT Quietly Switches From Bing to Google
July 14, 2025

In this episode #3004, Eric Siu and Neil Patel discuss the shift from Bing to Google and the Microsoft-OpenAI partnership’s impact on businesses. They cover how marketing agencies are evolving amid ...

Episode
MrBeast’s SaaS Decision – A Mistake?, Pay per Crawl Launches for AI, Listicles Are Back, Why You Need Them for LLMs, How LLMs Will Rank You in the Future, AI Content Farms Are the New Arbitrage?
July 10, 2025

In this episode #3003, Eric Siu and Neil Patel discuss MrBeast's ViewStats and the AI thumbnail backlash, Cloudflare's pay-to-play model, and how LLMs are shaping the future of SEO. They also cover th...

Episode
The Collapse of Jaguar, How Meta Is Buying OpenAI Right in Front of Us, AI Mode vs. Classic Search Data, ChatGPT 5 Will Be INSANE
July 09, 2025

In this episode #3002, Eric Siu and Neil Patel discuss the collapse of Jaguar due to marketing missteps and the importance of understanding core audiences. They dive into Meta's AI acquisitions, compa...