You're a Crypto business, there is no good payment processor for your startup.

Stripe literally says in their tos that you can't use their service to buy crypto

The article could also be called “Why selling crypto for real money tends to attract every card thief on earth and is the worst choice of business for your new startup”

They created a crypto startup that allowed you to purchase with stripe, then had a bunch risky transactions come through, which they diligently told stripe about. So stripe closed the account because it was high risk.

They were a magnet for fraudulent transactions and had a ton of support requests on how to block various things; I don't really blame stripe for not wanting to process them.

They probably don't even have the option of supporting them; their upstream banking partners have restrictions on these kinds of businesses.

What do you mean by "these kinds of businesses?"

Cryptocurrency companies. Banks ban them.

Keys4Coins is not a cryptocurrency company. We are an online shop for pc games. Your comment makes as much sense as it would saying Steam is a cryptocurrency company when they only accepted Bitcoin for payments.

Do you accept cryptocurrency in exchange for USD-denominated gift cards?

If you don't know the answer to this question, why are you making these bold declarations about the company?

He knows that they do -- it's on the Keys4Coins front page.

In case this is genuine confusion, this is a rhetorical device. i.e.

A: "Do you want to go get ice cream?"

B: "Is the Pope Catholic?!"

The (obvious) "yes" to the second question is an indirect answer to the first.

What part of their business model suggests to you that this company is a "crypto startup"?

For my point of view, it does not seem that Cryptocurrency was their product. They are not selling Cryptocurrency AFAIK.

We are not a crypto startup. We are an ecommerce shop selling pc games. Cryptocurrency is a payment option. We did not sell cryptocurrency and we did not use Stripe for anythin related to cryptocurrency. Stripe was only used to sell video games. Also, we are not high risk, we are low risk. Go read the article.

With a domain like “honest.cash” what’s not to love?

This is being downvoted however the irony is clear: this business seems to be a magnet for fraudulent transactions, so “honest” is a bit funny to me. I have been with Stripe since 2010 and have processed thousands of transactions with only two or three fraudulent transactions during that time period, this company is open five minutes and has to go to pretty strict lengths to combat fraud. It seems like that is a type of business that Stripe is better off not serving. The higher costs for serving those types of businesses means higher costs for everyone else who aren’t working in high-risk areas. Perhaps Stripe could have a higher fee tier for higher risk businesses — such as a 10% fee, but given that payments are such a compliance nightmare, even that doesn’t seem like a good idea.

However, thinking outside the box, it seems that the person who wrote the article might have stumbled on his next startup: Stripe for high risk startups. If the current market isn’t meeting defined needs, create a company to meet that need. If such a company doesn’t seem viable, then who could blame Stripe for not wanting to assume similar risk?

Your business is specifically of a restricted type according to their site. Why was this a surprise at all?

I help manage support at Stripe. While we can’t discuss an individual business’ situation publicly (feel free to write us at support@stripe.com), we agree that the emails here were confusing. I’ll look into what happened here and how we can fix any underlying issues.