I am interested in accepting crypto for my website and am reading how Atlos works https://atlos.io/how-does-it-work. I understand Atlos never holds my fund and the fund goes directly from the buyer to me. Then I wonder how Atlos can get the 1% fee if Atlos never touches the money?
Will Atlos need the private key of my wallet to get the 1% fee?
Hi markinst,
We will never ask you for your private key! We currently take commission fees in two different ways:
If you bought ATLOS token, we simply decrement your token balance. This is the preferred way, and we offer a loyalty discount on fees of up to 50% to merchants who pay with our token.
If the amount of payment (in USD equivalent) is below what the merchant owes us in commission fees, we simply send that payment to our wallet to pay down the outstanding merchant’s balance.
In the past, we experimented with other methods, such as using smart contracts to create multi-output transactions. However, they increased miner fees, so we decided not to use them in favor of the two methods above, which do not require any increase in miner fees.