Sorry, I should have said round trip costs --- including volatility, spreads and transaction fees.
As I am sure you know, you can't just buy XMR with fiat.
So to do business in XMR, you (and your customers) must first buy BTC or ETH and then buy XMR --- all done at the "ask" price with transaction fees and potential rate manipulation baked in.
You have to redeem your XMR at the "bid" price which is always lower than the ask price. Depending on "when" you do this, the off the cuff real world round trip costs can be 5-6% on an uneventful day.
You can just eat this or you can try to recover it by doing what everyone else does and pad your real time XMR conversion pricing to compensate and hope your customers are motivated to ignore it.
Or you can simply avoid the added complexity of market driven rates and do business in fiat which has zero round trip cost.
It costs 5-6 percent to convert Monero to fiat.
Why use Monero?
I use it for privacy and security. I pay maybe 1% to convert it, and since it's a better currency than fiat, I don't think that's too steep.
You can learn more on the new website[1].
[1] https://beta.monerodevs.org
Sorry, I should have said round trip costs --- including volatility, spreads and transaction fees.
As I am sure you know, you can't just buy XMR with fiat.
So to do business in XMR, you (and your customers) must first buy BTC or ETH and then buy XMR --- all done at the "ask" price with transaction fees and potential rate manipulation baked in.
You have to redeem your XMR at the "bid" price which is always lower than the ask price. Depending on "when" you do this, the off the cuff real world round trip costs can be 5-6% on an uneventful day.
You can just eat this or you can try to recover it by doing what everyone else does and pad your real time XMR conversion pricing to compensate and hope your customers are motivated to ignore it.
Or you can simply avoid the added complexity of market driven rates and do business in fiat which has zero round trip cost.