Bitcoin Forum

As I scan and read forums I got curious here.

Is there any disadvantages or advantages of receiving BTC as a payment from the object that you are selling or from the object you are buying by a BTC? I hope someone would be nice to to answer it kindly.

In the very beginning, everything has its cons and pros. I'll be honest to you: bitcoin as a payment is sometimes not good, especially at this point. Why? Here are some reasons:

First, bitcoin is known for its volatility, which means that its value might change from time to time. If you receive bitcoin (or satoshis) as payment, one  possibility is that you might receive lesser money (since bitcoin value changes from time to time - almost every minute). The tendency, you'll not earn profit, instead, you'll lose some (although it wouldn't be that much).

Second, online transactions are not always reliable compared to peer to peer transaction. You can't just give your trust to someone you talk with through social media. If you are going to sell (or buy) a thing, it's still better if you meet the one who you're transacting with.

Another one, if you're not well knowledgeable about bitcoin (its features, wallets, etc), then you shouldn't transact through bitcoin. You should always put this in your mind: bitcoin transactions are non-reversable, meaning once you click DONE (or SEND), you can not take back your money. If you've entered the wrong amount (or wrong wallet address), you're the only one liable to it.

Despite those disadvantages, bitcoin is still one of the best invention of the new era especially in the world of economics. It gives ease on people's daily transactions, making it fast and hustle-free.

Both may be an advantage or this advantage when it comes to the inflation and deflation of prices. It's either prices are sinking but they paid for something worth more. Or an advantage when they paid you and prices soared higher making you profit from it.
Another thing is we don't have a sure prediction. There are chances of higher prices. But we did not predicted about China banning ICOs. That was a shock for everyone

There are numbers of advantages of both receiving bitcoin as a payment and using bitcoin as a mode of payment for either products or services. When you receive bitcoin as a payment and maybe its market value rise, let say from $3000 to $5000, in this case the receiver has end up making profit because bitcoin serve as a store of value. And if you receive bitcoin as a payment for products or services and its market value depreciate drastically, then you will be at lost at the end of the day.

You never really know who's on the other side of a BTC transaction. There's a ton of trust that must be involved when using BTC. Unless you're experienced with Crypto you shouldn't be executing large transactions. If you send it to the wrong address, use the wrong coin, get scammed, etc. there is no third party who can help you.

Well, as always these are complicated questions with very different answers, most of which can be valid for different people.

If you want to run a business as a retailer (or in general if you want to sell regularly) receiving payment in bitcoin, you can do it (though usually I'd suggest relying on a trusted intermediary platform if you don't have the skill required to maintain your own system--which you do not).

What you have to be careful about is how you manage your business, in particular your cashflow and capital. Considering Bitcoin is highly volatile and (in general) useless for purchasing stock, you need to make sure you are selling with a larger than minimal margin (compared to a regular seller), and you have to be diligent in liquidating incoming bitcoin as soon as they are earned. Now, you don't have to convert 100% of your revenue if your goal is to gamble on bitcoin's future growth, but you absolutely must convert right away whatever amount you need to cover your operating and stocking costs, plus whatever salary you need to survive.

Not easy, can be done. As with all business, it's up to you to make it succeed.

Its the fluctuations that affects the value I guess so whatever direction the current movements goes that's can be a pro or con if value jumped up you will earn aside from getting it as payments but if the value falls your service will be devalueted since the price will also go down same with the value of the coin, its your good judgement though if you love holding then you can always wait for your gains.

Yes, there are advantages and disadvantages. I'll just give one reason for each. The advantage of paying or buying in bitcoin is that it is more convenient and for easier transactions. You can pay just having their wallet address unlike in fiat that you need to know who to send and where to send. However, its' disadvantage is that, you'll never know the real price of it, since bitcoin's price is not stable, you may buy it in a smaller price now, but you'll regret tomorrow if the price becomes higher.

I'd rather focus on the value of BTC. The advantage lies in the increase of Bitcoin's value. If the value of Bitcoin is going high, what you have received as payment of what you sold is considerably multiplied. But if the price goes down, then there is the disadvantage. You will end up losing.

Sure man, and it all hinges on how and where you spend your money. Can you spend your bitcoin for everything you need? Or do you have to exchange your bitcoin to a fiat currency to buy what you need?

The fluctuating spending power of bitcoin is the only risk. Some months it's more valuable tomorrow than it was today, in other months (like this month of September) it's less valuable today than it was yesterday.

Fiat is always less valuable today that it was yesterday, but the swings just aren't as great.

I guess maybe if the value goes down after the trade, but then again another trade might go up in value afterwards ?
I can't really see any disadvantages which is a really good thing since I use and love bitcoin.

Have been a merchant who accepts BTC for years now.  The downside is that not many people use it still.  Downside for them is that they can't do a chargeback.   But I am always honest with my customers so that's not a risk for them. 

-B-

Sure, everything do have advantages and disadvantages and that includes transacting with Btc. For the advantages, if you're a merchant who accepts btc as payment, of course is that there is a possibility that your income will increase depending on the value of btc.

Here's a situation. If you accepted cash from a customer, say for example you sold a laptop for $1,000 with a capital of $900 then you got $100 profit from it. On the other hand, you sold the same item but accepted btc instead of cash. Let's say $1,000 is 0.3BTC at the time of purchase then you got 0.03 profit. If the value of btc increases then your profit will also increase and might be doubled in time unlike in cash it will just be fixed profit of $100. And as for the disadvantage, well you get the picture just turn the situation the other way around. If btc deflates then your 0.03 profit will dwindle.

There are disadvantages and advantages in receiving bitcoin as a payment. If you have a business and you have an option for bitcoin, there are few disadvantage on it because you are just giving the people to have some other option for their payment. Another disadvantage is the price of bitcoin can change immediately, it may go up and low and it can even go beyond from the original price of your service or product to offer.

For me there is an disadvantages and advantages of receiving bitcoin as a payment.  Because the bitcoin price doesn’t have a constant price. Sometime the price goes higher and higher and other times the price is getting lower.  :)

I guess the biggest disadvantage for getting paid with bitcoins is the wallet or the links with the wallet. Since not all wallets can be linked with other wallets when you need to move your bitcoins when trying to get your payout if the bitcoin cannot be transferred to your chosen currency or country. There is also the banks when chosing the bank to get linked to, some banks are not listed and has to go to the nearest bank. But if the wallet is very great like the one i know, i can easily transfer the currency to my chosen currency and get it through remittance centers.

For selling something that you can accept credit cards for, like all of the online webshops, there is no clear advantage. But if you are a dark market vendor who sells drugs, you see that there is a very clear advantage.

Bitcoin does not need to have a banking partner, you can be anonymous and the value is very easy to move worldwide. Bitcoin has everything every criminal organization needs.

I think to do a job with paying Btc will not feel very loss, because I think Btc is a very good online payment for now and in the future, maybe now you can see many sites that have received Btc as a tool to buy and sell. , I see they do not feel the losses and losses, because they know the price of bitcoin is currently down, but they think it will not be long and btc will show a very good price in the future.

if you want to invest in bitcoin then it is a lot better to instead get paid in bitcoin because simply that will remove additional steps that you must take to buy it. for example if you do jobs that get you some money or even your salary, if you can get them or a part of your salary in bitcoin, it means you don't have to go on an exchange take the risks, sign up, and pay fees to buy bitcoin. you just have bitcoin directly as your investment.

the disadvantage of this is the fact that you can not choose the price you get paid at. for example you may want to buy bitcoin in the dip like what we had recently because of FUD @ $2970 but when you get paid, you may get paid @ $3500 because that is the market price of that time. but this usually is not a serious thing for 99% of the time.

Bitcoin price is a volatile which is the one the highlights of Bitcoin . You need to have a little risk taking capacity if you deal in Bitcoin . Yes overall there are many advantages of accepting Bitcoin as the value in near future may go up. You can buy altcoin converting your Btc to it . You can make payment to your local stores who accept it.

Also check your government rules how they treat Bitcoin .

I guess there are conditions also to be followed to at least avoid some disadvantages like delays and fees. Because from what i see, if you bought some item in 4 dollars and the fee for instant transaction might become 1 dollar. So some times items can be dependant on the disadvantages of buying items online. I would just say that let us just take btc as to what it is and start adapting to its disadvantage.

Main Advantage which I could see....BITCOIN as a payment mode is that it gives freedom in payment as no Govt. can access the bitcoin network. You can transfer any amt. of Bitcoin to anyone at anytime.

The disadvantage is that People, all around the world, are not much aware of it. Moreover, they do not trust on its value because of its volatile nature.  Bitcoin’s price bounces or sinks every day, whereas Traditional money market seems to be stable for a long period of time.

Let's see How central Authorities take BITCOIN in the long run which will decide its fate as payment mode in future.

The price volatility of Bitcoin is both an advantage and disadvantage to the receiver if BTC were to be accepted as a form of payment because at one point, the value of the BTC may become higher or lower in the future. Other advantages to it would be the ease of transaction which is easier as compared to fiat. Also, taxes will not be imposed however there are transaction fees. A good advantage to having BTC as a payment is the potential of it to increase in value in the future if you were to store it in a secure wallet.

I would prefer to receive BTC however another downside to this is that there's not much option for me to use it and I may not spend it for daily necessities and the like unless I were to exchange it into fiat money.

every thing invented in our world have a pros and cons until it will develop at its full potential, buying stuff using bitcoin are not good for this moment as it have volatile characteristic price of the stuff online are changing when you convert it to dollar that will result to some over-pricing of it. Advantage of it is about transaction fee which is low compare to the taxes you will pay in the fiat money, also it have fast transaction, plus if you hold your btc it have a provability to increase its value in the near future.

There is advantages and disadvantages in using Bitcoin as a payment. There have been security improvements since its inception, which make it safer to store coins when large companies hold extreme amounts of funds, and also for buyers. The Bitcoin network and block chain is very secure with a great deal of computing power working to secure it. Also Bitcoin is just starting to make a name in the industry some people still does not know anything about Bitcoin.

There's definitely a few.

One of the most glaring ones is the transaction time. You don't really know how long a transaction is going to take to be confirmed, and it's not advisable to send out your item over a transaction that doesn't have, or only has a couple of transactions. You might have to wait a couple of days only for the transaction to be "cancelled."

Another is transparency. Everyone is going to be able to see that you made a transaction, and while it's anonymous to some degree, it's possible to trace it back to you.

Lastly, I would say volatility. It's not a big issue since Bitcoin always finds ways to bounce back, but if you have short terms on your retail business or something, you can definitely lose money thanks to the rapid price movement.

i think we are not yet in one level which bitcoin can be accepted as a payment in real life but maybe its fine for the online payments because bitcoin is not reach a stable price level and always change from time to time. and although bitcoin price will increase after decrease, i think its better if we are still use fiat to receive a payment from the object we are selling or buying because ordinary people only know fiat for the transaction. so in this step, we can use bitcoin for our long investment and we can use for buying and selling in online payments.

Receiving BTC as a payment can be good or bad, depending on the price development.If you receive for example 0.1BTC as a payment and shortly after BTC price goes down and you need the money, you would wish to have received the money in fiat instead.
But if you can hold your payment a bit and don't need it immediately to pay the bills and rent, it is almost always better to receive your payment in BTC than in fiat. Longtime BTC will rise in price and so your payment will.

The advantage and disadvantage can be a price variation.
If it goes up then your desired paymnt could be less in fiat and if goes down then you can have more fiat. So it can vary and second thing the transaction fees. one tym fees for(selling/buying) then again fees if yu wana convert in fiat money.

If you're afraid of the volatility or whatever, then there is always the possibility to make use of BitPay. It offers up to 30 free transactions per month, where after that a 1% fee applies. Or if you think you're going to move quite some sales volumes, then go for the business option, which allows you to get rid of the limits from the lower tier plan. You could even choose to receive an x percentage of the sales in Bitcoin, and have the rest come in as fiat. This will allow you obtain some coins, but without risking too much of your sales in fiat.

Look for yourself -> https://bitpay.com/pricing

the fee is disadvantages

and the USD value can be disadvantages and can be advantages .

Basically this. You need to set a higher markup to ensure that you do not lose profits. Fiat and other traditional payments are more convenient right now for the most part.

I only see advantage in receiving bitcoin as a mode of payment but the one who receives must know when is the right time to convert them, right now the value of bitcoin is in the increasing track the fluctuations is only a sort of opportunity for those who wants to invest but in the end bitcoin falls on appreciation so when you receive bitcoin as a payment I'm sure after few more months you will earn good profit from it.

Yes of course because in every assets there is always advantages and disadvantages especially transactions like sending and receiving Bitcoins. Based on my experience, these are the things I had observed. First, let me tell you the advantage that is good on our side as receiver. When we received our payment from anywhere we get it from or maybe like payments from signature campaigns or from selling goods, then suddenly from the current price skyrocketed let's just say into like an all time high so we have now our profit. Second the disadvantage is when the price drops from the time we receive the Bitcoin payments. Bitcoin is volatile so therefore, up's and down's may happen anytime. Same with the sender volatility is a problem too plus the transaction fees that is so high these days.

The biggest advantage and disadvantage of bitcoin is that it has a very high volatility. The price varies from time to time and if you are gonna be making a transaction, you would not be able to avoid having the value of your bitcoin be lessen if the price went down and on the other hand if the price went up the value of the transacted coin increases as well.

The advantages of receiving bitcoin as payment is it maximizes the use of bitcoin and it allow users to engage transaction between cryptocurrencies. The disadvantage of it that its value cannot be controlled so it will rise or fall anytime, in the times you needed a cash, the value of bitcoin may not be that great.

If there are, the advantages well outweighs the disadvatages. Ease, security and quick transactions would be the most liked factors about sending and receiving money through btc aside from thr fact that the price grows in time so you'll ve receiving a growing amount as payment

I think it is profitable as bitcoin is a currency which does not  have stable price if a person  gets bitcoin worth 100$ today it can also reach 120$ the next  day this gives profit for the user, and using BTC for transaction will also decrease the fee required to change the bitcoin to cash or normal currency.

Disadvantage would be not receiving a fiat. Especially if you are selling goods that you bought
with fiat that you need to rebuy another stocks after selling it. Advantage is that you has a chance
of earning more on the sale that you made, on top of the mark up amount that you added on the price,
bitcoin price might also chance with will add or subtract from your income.

The advantage and disadvantage of receiving bitcoin as a mode of payment will be based on how you will handle it if you convert them when the price is low then you incurred loss but when then price is high the other thing around happen. The nature of bitcoin is fluctuating value but it is both for good and bad depends on you

Yes, there is. That's why we see only few business are accepting this kind of payment. They are hesitant because of it's price. The fluctuation of price can make their business unstable. If they accept bitcoin while it's still high and then it drops drastically. That's messed up. You lose your income and even capital. But some are brave to accept bitcoin as a way of payment be ause they know they could get a huge profit in return.

Some business that accepts Bitcoin has third parties. Some of them have partnership with exchanges which they are able to convert Bitcoin to fiat immediately as soon as they receive the payment. Alibaba for example. But the reason why it's not happen is because of exchange ban in China. Alibaba is a Chinese company. They were unable to get third party since exchanges there are banned.

Both an advantage and disadvantage is the change in prices from time to time, if you sold a product for $100 it will not be the same amount by tomorrow it may cost more or less. You can consider this as an advantage or disadvantage but if you use it right you will definitely earn more if you accept bitcoin as a mode of payment.

It would be an advantage of receiving BTC as a payment if its price suddenly increases and it would be a disadvantage and loss if the price of bitcoin suddenly falls.

Another advantage is that our payments received in bitcoins would be tax free unless bitcoin gets regulated in our country.

Disadvantage is that even if we receive our payments in bitcoin,we would have to convert it in to fiat currency to spend it as we don't have enough stores accepting bitcoin payments.

which I experienced, the advantages of buying in bitcoin easier and faster transaction so as to make it convenient in transactions safe and reliable.
loss, when selling bitcoin and later on the bitcoin price went up. all that happens because of the uncertain bitcoin price.. which every month goes up and down.

Yes there are advantages and disadvantages when receiving Bitcoin as mode of payment. The advantage is that it is easily accessible and very comfortable to use. The disadvantage is that the price is very volatile. It changes every minute so there is no definite value as to what you are going to receive. Another disadvantage is the very high transaction fees.

The advantages and disadvantages of the bitcoin depends on where we live (the country) we live in. Since there are several countries that support and legalize bitcoin, it certainly makes bitcoin has more dominant advantages. So the shortcomings and the advantages of bitcoin vary in each region.

The advantages of receiving bitcoin as payment includes fast and easy transaction and lower transaction fees compared to other payment methods. You can offer this option so that it will a lesser transaction fee for whoever will shoulder it. Some disadvantages includes that not all people use bitcoin, or uses bitcoin but is not very technical, amd the price is not stable so may receive a lower amount as payment. So you may need to adjust your pricing for a threshold.

The disadvantage that i know for accepting bitcoin as a payment is you are risking your possible profit or money in volatility because the volatility can give you either profits or losses so it is a high risk if you are very concern in money. The advantage of getting bitcoin as a payment is, it is fast and cheap in terms of fees so you don't need to worry for going out just to make payment because you can finish the payment in your home.

I'd rather focus on the value of BTC. The advantage lies in the increase of Bitcoin's value. If the value of Bitcoin is going high, what you have received as payment of what you sold is considerably multiplied.

Bitcoin as a mode of payment for the client is not suitable
as due to no refund option and increased chances of scam.

Bitcoin for merchants is a good option due to the volatility
in its price, privacy and no charge back option.

I guess it all depends on who you're dealing with and how
well you know them.

The disadvantage of bitcoin by using in paying bills is not reliable, because bitcoin is volatility the price is not fix when you pay that items. And also no refund once you've got error in typing an wallet address when making transactions. Beside that disadvantages bitcoin also have advantage on us. Faster and easy paying bills, profitable and also you might be saved and invest for your brighter future. Bitcoin also helps our daily needs.

Bitcoin is the perfect currency which has no disadvantages and the reason behind so much following of bitcoin is its perfection and volatility is the best benefit of bitcoin as it deliver so much profit by varying its prices and when it comes to me and my region we will gladly accept bitcoin payment because bitcoin is best mode of payment and wallet address related issues are technical issues those will sorted out easily.