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Few ideas for Higher Merchant Adoption Based on My Own Experience as a gateway
A while ago I wrote about my experience as a proxy for a merchant who agreed to accept BCH. As I was the one who was receiving BCH and handling cash to the merchant I exposed my self to a lot of merchant adoption risks.
Here is what I'm facing:
Price volatility which means money loss up to 30%
Taker Maker fee difference between Exchanges, the BCH merchant app shows the spot price.
Exposure to financial auditing for transactions that aren't mine as it goes through my exchange account.
The App which is nice and very easy to use. However it's so simple that it's just a QR code showing app for the registered address with little transaction log.
What could be done to improve it?
Allow customizing the ticker address so users can use local exchange they have account with instead of getting international price based on USD value.
Support more Crypto Currencies that doesn't have high double spend risk this way you will not lose time explaining to merchants the difference by all those currencies and merchant will like to see more users coming to his shop to spend their currency of choice and will lower competition for merchants between currency users.
An exchange that gives auto sell addresses. It's simple you can get an address for 5 currencies you support and get the exchange to do the conversion for you to your coin or fiat of choice. Bitpay and alternative doesn't work currently in all the world and they have 1% fees. Exchanges can do the conversation much cheaper I guess.
We know about automatic trade bots so I don't think this would be a big issue.
Sideshift seems to have the teach to build something that can help. They will get your payment in a dozen of currencies then convert it and send to your favorite coin address. They just have to package what they have on the web in a smart phone app so it could be used by merchants.
Those were my thoughts, I wanted to share the community. That's all :)
UPDATE: One solution is provided here by cryptofrontier, they use Sideshift.ai to make it work.