Bitcoin Forum

What is the best strategy to a startup business, accept only Bitcoin or accept Bitcoin and some Altcoins?

I'm accepting Bitcoin and DASH in my startup. But it is the best strategy?

cheers

I would stick with Bitcoins for startups as alt coins are too volatile

BTC price has moved up ~$100 bucks or more in a month or so, that is Volatile and can just as easy reverse direction next month.

If you are running a Business, and you need to pay bills in Fiat , you really have no option but to convert to Fiat as soon as you receive it.
Which means you can take any crypto as long as it is immediately converted to Fiat.

If you are an investor , you are using money that is not needed to pay bills , so you can buy and hold whatever crypto you believe has the best chance for success , until you decide it succeeded  or failed.

Never confuse an investment with running a business, it is a quick way to lose both.

 8)

You're right on the money

Exactly this.  Truth is, very few people are going to pay with crypto.  You can use it as an advertising platform but don't expect a line of people wanting to pay with btc or any alt!  This is one area smartcoins (market pegged assets - BitUSD, BitEuro, etc...) such as those provided by BitShares is looking to solve.  Only problem with the BTS system is the lack of liquidity with the smartcoins so it would be difficult to go from smartcoin > fiat quickly without high slippage.

If i have business i will accept bitcoin and ethereum. Because ethereum has stable price and bitcoin has expensive price. My opinion dash coin is not too much has volume even if it is old coin than ethereum.

Accepting dash is ok because the price of dash is stable but better to find an advance altcoin they you know has a potencial to grow just like bitcoin..
If you have a business and there an altcoin and trusted devs you can help them and accept this altcoin as payment so that it can help develop or adopt this altcoin..

just bitcoin.
bitcoin is the gold standard. we used to accepting litecoin and some others but not anymore.

I already have a few years of experience in cryptocurrencies, since March 2014 I'm accepting Bitcoin on my website, and since September 2015 I'm accepting DASH. I'm working every day to improve my site, and I have great hope on the cryptocurrency technology.

Not realy for using Altcoin for business,
but if yours sistem can fast change Altcoin to BTC or Money, this looking for be better.

hello xinarae, the fundamental purpose of the cryptocurrency technology has been to offer privacy and independence from the traditional financial services. In this context, BITCOIN and DASH seem the best options.

already experienced in daily transactions? paying and receiving micropayments...

cheers

 accept it from btc to dash and eth, i accept it. so long as its valuable.

hello btctube, I do not understand ether as a payment system. they say that ether is a platform for distributed computing to run intelligent contracts, it sounds good, but so far I have never found an intelligent payment system by ether. in my opinion a cryptocurrency needs be decentralized and privace, with decrease in the number of coins over the years.  8)

cheers

Any trade-able and profitable altcoin should be included so your buyer has many options to use,some holders also holds altcoins and they would want to use that also more than using bitcoin on their purchase..

This service enables businesses to accept dozens of altcoins with not much hassle. They'll pay the business owner out in whatever he wants, i think. Funny nobody mentioned it so far. It has been around for a very long time.

https://www.coinpayments.net/

Is there any statistics on the actual altcoin usage by coinpayments?
There are around 52 coins listed there. I would like to know which of them is transacted most.

if i had one i would accept only bitcoin, not even fiat but only the true king, altcoin can be accepted but only if strong enough like ethereum or litecoin

that you know won't die tomorrow...

You reckon LTC is strong  ???

for a start up business you should only accept bitcoins because it is very promising but altcoins are not. but if you still want to accept altcoins then use etherem as it looks promising. but best thing i can recommend you is only accept bitcoin. no problems no loss.

edward must know, he sounds like a pro  ::)

Not many people use Dash. Take a look at this:

https://bitinfocharts.com/

In terms of transactions in the last 24 hours (which is what businesses should be focusing on, as it shows people actually sending or receiving coins). bitcoin is top, followed by Ether, Doge and litecoin. Dash has a pathetic 1,310 transactions in the last 24 hours - no-one is using it for much.

So, yes, include alts, but focus on the alts that people are actually using. 

Hello Edwardard,

I do not understand ether as a payment system, they say that ether is a platform for distributed computing to run intelligent contracts; it sounds good, but so far I have never found an intelligent payment system by ether.

In my opinion a cryptocurrency needs be decentralized and privacy, with decrease in the number of coins over the years.  8)

well, the fundamental purpose of the cryptocurrency technology has been to offer privacy and independence from the traditional financial services. In this context, DASH is the best option.

cheers

Personally I would accept Bitcoin over the other coins because more people have bitcoins compared to for example Ethereum. Just makes it easier to exchange to cash if you need to.

From today Tuapoma only accepts DASH

I am selling on openbazaar, so yes, I accept bitcoin.

As long as accept the main crypto currency Bitcoin your business ok adding altcoins is good if requested by customers,every body who are into crypto currency are 100% holders of bitcoin so make it your main currency and only add coins if it profitable to do so .

in this last year, the most profitable currency is the DASH Digital Cash.

I feel like BitPay needs an overhaul here - it makes sense - tier 2 coins should be a nobrainer.

I would like to stick into bitcoin because i do see its value compared to alts and its been recognize mostly by some people or just on bitcoin users itself and if i need to choose another altcoin to be accepted then i would choose ETH to be accepted incase if i do have a business either online or offline.

In business you need to start slowly if I was you I would just start in BTCitcoin thats because altcoins are very fragile they increase but they can also decrease in an instant they are too vulnerable in business. It's just to risky for now because your just starting a business, Bitcoin is more in neutral, it decreases but not that much it just bounce back. For me you can use altcoin, when you have a stable business running.

- CONCOIN - The most dangerous cryptocurrency in the world