What are the pros and cons of crypto-only checkout for a prop firm?
Quick answer
Crypto-only checkout is cheaper and removes chargebacks, and it can be quick to set up. It also limits your audience to traders who already hold crypto, can reduce trust among newer traders, and may cause problems with banks and some regulators. Many firms start crypto-only and add cards later.
Detailed answer
General information. Payment providers set and change their own policies on prop firms; confirm the current terms with any provider before relying on them.
Pros:
- Lower processing fees than high-risk card processing.
- No chargebacks.
- Fast onboarding with gateways.
- Works across most countries.
Cons:
- Fewer buyers: many traders want to pay by card.
- Perception: some buyers see crypto-only as a warning sign.
- Banking: converting to fiat needs a bank comfortable with crypto proceeds.
- Accounting: record values at the time of each payment.
A crypto-first launch suits a firm testing demand with an existing audience. Plan the card option early, because approval can take weeks. This is general information.
A staged approach
Launch crypto-only to test demand cheaply, apply for card processing in parallel, and add cards once approved. Track how many visitors leave at checkout before and after adding cards; the difference tells you how much crypto-only was costing in lost sales.
Explain it
A short note at checkout explaining that card payments are coming, and why crypto is used now, reduces drop-offs.
PropExecutor team · Updated
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