Bitcoin Forum

To start with, I’am owner of a small coffee shop and the business goes well now, because we caught the wave in the right time several years ago. Now, ofc crypto will be on the peak, but I’am afraid not in my country yet. We are planning start-up (fast food) and want to stand up from the crowd by adding crypto as a payment method. Who have an experience/ knowledge of such integration, help me please with the process  step by step?

It depends. Do you want to hold the crypto? Or do you want something that would be automatically converted into fiat at the point of sale?

If it's the former, then simply create a separate wallet for your restaurant's payments, just as how you would normally create a personal wallet. If it's the latter, then probably try out BitPay[1]. Currently I think they only support BTC and BCH.

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[1] https://bitpay.com/

It depends where you are
If you are open to other alts apart from BTC and BCH i suggest you should try and check out https://pundix.com/ (https://pundix.com/)
I personally participated in their ICO and it was impressive... The project is really progressing well. The company makes even payment XPOS devices for crypto payment which can easily be shipped to your country.
Please Check it out as an option.

You could go with reputable payment processors such as BitPay (BTC, BCH) - Coinbase (BTC, BCH, ETH) - CoinPayments (All the major coins +1000 other altcoin).

I'm not sure about Coinbase but for BitPay and CoinPayments there are fees for every transaction that is made. Alternatively, you could use BTCPayServer and run everything yourself to avoid the fees etc. (but you'll clearly have to pay for the servers to run the full node etc.)

There's something else I've found for that, but I'm not sure how trustworthy it is.
Seems like you can also easily accept Bitcoin payments through Coingate, which is a Bitcoin payment terminal that you can just run on Android or IOS.

The benefit of this is that you can also choose to receive payouts with Bitcoin, which isn't possible with Bitpay as far as I know.
They charge zero fees for Bitcoin payouts, as stated on their website.

https://coingate.com/bitcoin-pos
https://coingate.com/accept-bitcoin

OP your future restaurant will be one of a kind restaurant that will welcome all crypto lovers. Besides, this will attract other people also in your area because of the unique proposed payment where other stores may do not offer. Yet, the difficulties to integrate between highly volatile crypto market price and the fiat currency will hinder for anytime adjustments of payment for the food they order.

So, OP you should consider this and plan ahead the things for the problem that may come and should prepare for it. Keep us updated with your plan and the implementation for us to be motivated as well to keep up with the new trend of payment. I am planning also to start with T-shirt Printing theme related to cryptocurrency.

I think the first thing to consider should be an estimation of how much money you are expecting to be paid through bitcoin or other cryptocurrencies if at all. for instance if you don't expect less than a couple of payments per month then going with a payment processor like Bitpay may not be the best idea. setting up a simple light (SPV) wallet such as Electrum and accepting payments that way is a much easier option. you can print out the QR code of a single address and stick it in front of the cashier with a bitcoin is accepted here sign so that if anyone wanted they can pay that way.
if it is more number of payments then you may want a more elaborate setup and possibly think about setting up a full node instead of an SPV wallet and generate a new address for each payment.
and if it is a lot of payments and you want the fiat equivalent so that you never have to worry about the fluctuations but also if you are ok with the fees they take from you then use Bitpay.

Well as you can see bitcoin is at demand right now so basically if we somehow be a futurisitic person we could say that it would last longer , and it's a fact that bitcoin will be the next currency though. So for me , as for my perspective, maybe somehow advertise it with a factor that a bitcoin can be a payment.

Start from the little be patience always , and take the risk bro, don't be afraid so no regret, have plan a to z and attend seminars also ask for help mostly to your friends.

Congratulations to your business, hope it will continue good. You have a great idea in adding cryptos in your mode of payment but take in consideration of the other factors that maybe a hindrance in doing this. Like, if most of your market target know cryptos? Also the setup of the new payment scheme is expensive (i dont k ow how much itvis but as what i read from articles its kinda expensive with a lot of hardwork and troubleshooting). But if you really want to pursue it, just go ahead because you are still the one who knows your potential.

Usually I can just contact with the crypto owner if you want to implement the payment platform.
For example : If I'm accept Pundi X, I will contact them so they can give their instalation program and their POS device for transaction.

All you need is preparation whenever your government already agree or not against crypto because I'm afraid that you may have the problem with them in the future.

You need to use one of the methods available in whatever country you are in that is easiest for you.

The on-ramps and off-ramps are different everywhere so without knowing your country it's difficult to say.

Your idea was nice because right now bitcoin was now spreading so that your idea was great because their also have a restaurant in Korea that accepting bitcoin as payment so that try it also here's the link for you for the additional idea for your plan to accept bitcoin as payment: https://m.youtube.com/watch?v=eQE2P3qD0h4 I hope that this link was give help for you to grow your restaurant and promote bitcoin as a primary payment.

I would definitely go with the Pundi X platform any time any day. I had a look at their device and how it works. I loved it

Agreed, the biggest challenge is the Government regulations... but as time goes on am pretty sure goverment will bow down to the pressure of using blockchain based assets only that the will get away of trying to control it or levy the tax on the assets

it does not matter whether you hold or convert a cryptocurrency immediately, the idea is definitely interesting! What country?

If I may know, in which country do you live? Does your country ban cryptocurrency transactions? Some seniors who have commented above have given you the best solution. Then now you can consider it. We wish you success and success in running your business.

when your country bans crypto, but many people adopt crypto, I suggest that you have to accept crypto in your business, but not for priority.

You must provide a bitcoin address, so they can send you BTC for coffee and food.

Infrastructure is not really ready yet , for direct crypto , you don't have the time to waste waiting for onchain confirmations,
and the alts that are fast enough are a few years from having the liquidity needed for such a venture.

Your only real options at the present time is
1. Take Offchain Payments  thru an exchange such as cryptopia.
    Advantages: Speed, no limits on amount like LN, Requires no long # address as funds are deposited to your Exchange User Name, Can be any coin on their exchange

Or

2. Having your Customers buy Gift cards with Crypto and then use the Gift Card at your business.
examples
https://www.gyft.com/
https://www.egifter.com/
https://www.cardfy.com/

Many large companies already use option 2.

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This statement is False, it absolutely matters whether you hold or convert.
As a Business , you need the price paid to you to be the same as what you received at time of purchase,
downward fluctuations in held coins can wipe out your profit and cause a loss to your business.
The only people that should hold coins are speculators not people running a non-speculative business.
Example: If the value of the coins drop by ½ or ¼ , it can be a big problem for you.
In the past year btc alone dropped from $20000 to now ~$6500, that is over 3X loss.
 

What small business is creating a gift card so that crypto people can buy the gift card just to use their business?  ::)

Unless OP posts what country he is referring to, kind of difficult to give him advice on his specific requirements.

Any that can accept a credit card.  ;)
https://www.giftcards.com/gcgf/small-business-giftcards


Buy Gift Card with crypto, then use the gift card on their cc system.
It won't get any easier for the business owner or customer.
(EGift Cards are stored on people's Mobile phone and their CC system reads it's barcode.)

That's a cool mechanism of marketing tasks! You really can make some discount in BTC or ETH or cashback. ;)

maybe you should start by making a withdrawal engine for the altcoin that you will use and you may deserve to open or review https://www.pundix.com an amazing breakthrough

I do not think Bitpay is the best option to go for, because Roger Ver is pulling most of the strings there and he is not a Bitcoin <BTC> supporter. Payment processors are not true adoption, because you are simply allowing people to pay with Bitcoin, but most merchants convert that Bitcoin into Fiat.  ::)

Bitpay also have a lot of "invoice" issues, when users scan the QR codes. Just browse their site and you will see a long list of common errors associated with QR scanning.  ::)

the most important thing before you integrate crypto for your work is how the government responds, if the government legalizes crypto I think it's easy and you can integrate easily. because so many have ideas and concepts like you but are hindered by government policies that do not legalize crypto.

This statement defines a lot of the possibility you have in integrating your business to crypto payment. The simplest way is to create a wallet specifically for the business as suggested earlier and then accept transfers. As the technology improves in your country, you could have more advanced payment options.

The most simplest method to collect a bitcoin payments is to create a wallet with own private key print the qr code of this wallet and put it on the front of the cashier for them to be able to scan by customers who are willing to pay bitcoin just like in Japan scan and pay then check your wallet in monitor if transactions is done or you can use an api to integrate payments into a bitcoin exchanger like coinbase.

Integrating the bitcoin payment system into your business,would definitely be a big boost to your establishment,but in one way or the other it depends on how widely used/popular the bitcoin/cryptocurrencies are in the part of the world were you come from...

You'll be also doing the technology much good in our quest for mass adoption

First you make a search if crypto is legal in your cpuntry before you put that into your business, then since you said that crypto is on the highest peak in your area much better if you start to provide blockchain wallet for your customer and the value of payment would be automatically converted in the local currency of your country like what i did.

But what if that certain payment method of a crypto coin would eventually go down? What would you do? There is no good coin that could be as a payment method to use right now.

I think Pundi X is a good suggestion, because Pundi X is one company that provides solutions in the form of cryptocurrency-based devices (POS) and Point of Sale, and Pundi X also has various features that can be activated / deactivated based on regulations in force in a country, for example regulation in Indonesia does not allow the use of cryptocurrency / other currencies as a medium of exchange (only IDR).

If you are not sure of that process, think of it twice because it is also hard to make another type of payment in your business. Try to search on some online store that is accepting bitcoin and try to ask them. I suggest also to watch on Youtube on some tutorial on how to accept bitcoin as a payment.

You should try to avoid payment processors if possible, especially when you're only running a small business where it would be more than manageable. Coffee shop items are small purchases, and if crypto hasn't taken off, as you said, things should be fairly simple on your end. All you really need to do is set up a desktop/mobile wallet at your counter that can generate QR codes that your customers can scan. You can choose to move the coins to a more secure wallet at the end of the day or keep them there indefinitely.

This should be at least good enough at first especially if you only really want to do it to attract customers. If the demand is stronger than anticipated, which I kind of doubt, you can look into the more sophisticated options.

This is a very good idea. In the future, we will pay using cryptocurrency for almost everything.
And whoever is the first to introduce this payment method in his business will earn the most.

Wow, that's a great idea of your's. I think the payment method of bitcoin would be possible soon or in the future. And for the development of cryptocurrency, this is implemented already and i think there are now shops that accepts bitcoin as payment.

would be better if you consider pos , like pundi x they have a simple machine where any people can buy and receive crypto currency in real time , it's quick and easy. Try searching for it. heard alot of reviews from it

Trying to open a payment with cryptocurrency is a good courage. There are several elements so that cryptocurrency payments can work in the middle of the general public, including:
1. A legal policy determined by either the government or individuals.
2. Agencies that serve as the container for transactions or can be called cryptocurrency servers.
3. Equipment used as a means of payment.
4. Mechanism that must be done in payment.
5. Infrastructure that supports the process of payment and return of crytocurrency.

to start, you only need to do the application by accepting crypto payments. I think that now the government is still difficult to cooperate with, so you have to do it yourself. try to accept crypto payments and that is a good step in introducing crypto to the wider community. accepting payment via crypto does require a struggle, but when you can do it passionately you will produce what you expect.

I think this shouldn't be much of a big problem.  First you have to decide on which crypto you will be accepting and then open a wallet of it.  Try to keep every details safe and secure.  Then find a means to convert it to fiat so that it will be available for use. you can exchanges like binance,  bitpay and then likes for this. 

when it comes to managing crypto payments, bitpay is the most popular crypto processor but if you are in need of other alternatives

visit this link https://blog.blockonomics.co/top-5-bitpay-alternatives-46df15ea0c31 and if am not mistaken specctrocoin has something similar in place for merchants, visit this link for more info  https://spectrocoin.com

Yes I also accepted that you can make some more amount that it will be definitely good and it will be also a extra encouragement for us so I also accept that for for this moment but in future you cannot say what happened next this my opinion .

I think you can start your fast food with two different payment method. The first one is fiat and the other one is crypto. I think one or two kind of crypto can be accepted like btc or eth. The purpose of two payment method is we are just trying or observing how many people will pay crypto. Majority will pay fiat but we want to get the percentage of who will pay using crypto.

I think you should see, how many cryptocurrency are popular in your country if crypto is not popular in your country, I think you should delay your wishes. Because it's not good for your luck.

For instance if you don't expect less than a couple of payments per month then going with a payment processor like Bitpay may not be the best idea. setting up a simple light (SPV) wallet such as Electrum and accepting payments that way is a much easier option. you can print out the QR code of a single address and stick it in front of the cashier with a bitcoin is accepted here sign so that if anyone wanted they can pay that way.
if it is more number of payments then you may want a more elaborate setup and possibly think about setting up a full node instead of an SPV wallet and generate a new address for each payment.
and if it is a lot of payments and you want the fiat equivalent so that you never have to worry about the fluctuations but also if you are ok with the fees they take from you then use Bitpay.

If you apply all these tips, then you will not have any problems in your country?

its a nice decision but will depend on the cryptocurrency you will want to accept as your payment method,Bitcoin is well recognized and its used as a payment method in so many company's,shopping mull and all the rest make your best choice

I think you better ask for help from someone who is an IT expert who knows bitcoin in your area or you can learn it yourself through youtube or google, because if you learn from someone who is just known sometimes they try to cheat you, be careful. Are there no people who are IT experts in your area?

You should Google places that currently use bitcoin and crypto as a way to pay for their goods and contact them. Surely people who have grown to such a progressive method of payment will be happy to share this information with you, since it is in their interests: the more institutions will use crypto as a method of payment for goods - the more reliable the currency as a whole.

This is great news, good luck with it.

Do you intend to convert the bitcoin to fiat? if so then you need to consider the transaction costs as they can be higher than conventional card payment systems which charge between .25% and 2.5% plus terminal lese depending on your business.

Alternatively if you think it won't harm your cashflow is it worth holding the coins for some time with a view to a capital gain as it's unlikely to form a big part of your turnover.   

I want to consider different options. I think it makes no sense to transfer everything to Fiat.

We want to be unique and ready to use innovative methods. Cryptocurrency is our future. I don't think it's worth putting it in the back box.

I think to start with a regular wallet. We should understand the popularity of such a service. If there is a lot of payments, then you can switch to automatic services.

Thank you. It's interesting to look at colleagues.

Can you leave any feedback about this service? Did you personally use it?

Right. I think It's the first method to try.

It's important to use advanced technology at the beginning of the journey. Business can take off faster than you might think.

We didn't take the final decision on cryptocurrency exchange. I think it will be more convenient for us to keep it as it is.

Congrats to ur business! Your idea is really great, but I think than you need bo be aware of regulations that your government can posses at crypro in the future. So I think u need to learn a bit about law question at first.

I think that now adding crypto payment in the shop can be acceptable only for those who have credit crypto cards and I don't think there are many of them. Especially if you say that crypto is not very popular in your country.
But if you will add the delivery service then people could pay with crypto for their order. All you have to do is to make a wallet and place it's address on your website. In order to let people pay using it. It's a good step forward! I wish you good luck!

I think you can apply the cryptocurrency payment method, but before you apply it you should also look at the popularity of cryptocurrency in your area.

This is a good idea. Look at such a project as PundiX, they are developing quite quickly in this direction.

good to start make payment with crypto first. there is someone or nothing make payment with crypto is no problem, first step is try. you need more time, than if your store have many customer, maybe some of them know and pay you with crypto.
you can share via social media, spread your store to other

Be careful with your country rule, if it banned in your country, your bussiness could be punished by the government.
I've seen business that accept cryptocurrency in my country but closed by the government because my country banned bitcoin or other currency

It is the right thing to do as a vendor that want to accept multiple stream of payment system. The first step is to get a third party payment processor who accepts merchants so they take care of the payment side for you while you focus on your business.

First you need to know how the government of your country will react to this form of payment. For example, in my country you just need to download a wallet to your smartphone and you can start accepting cryptocurrency. I do not think that it will be in great demand among the population but can thus attract more customers to your institution !

There are 2 options to using cryptocurrency as your payment. Either to use existing coin with high volume and popularity like bitcoin, litecoin, or you can create your own cryptocurrency coin to used as a payment currency. I suggest you use the existing coin first, then if your business going smooth and already gained popularity among peoples, you can create your own coin.

punditX or CoinGate might come handy to your business for the requirements you posted. There are also a few more options, you can get those from gogole and give a try with their trial run offer.

More like you will have trouble with authorities if crypto or bitcoin is outlawed. But if your government didn't say it is illegal then maybe that is reasonable enough. Just make sure to pay your taxes accurately.

I actually like the idea of accepting crypto especially bitcoin this time while waiting for the bull run.

I think its quite good idea if you add cryptocurrency in payment method but I think the government will be against it simply because using cryptocurrency was a tax free so that in every item you will buy there will no tax and I think this situation is the thing that the government want to avoid because they can't make more funds from tax.

I would like to advise you not to sell cryptocurrency, which you will get people. If you sell cryptocurrency right away, you will somehow influence the price of bitcoin. That will not be beneficial to you and to people who want to pay with Bitcoin. In order to implement such a system, it is necessary you will pay to for another things by bitcoin ar just hold it

It is good to have this advance technology for payment but more worth it if it is use when the price is high in the market. Crypto is good because it is faster and secure though it is irreversible when you send it on wrong address because it does not need third party to process it. For now, I used to hold than to used it now for payment especially bitcoin.

It's a good plan, but it needs some expert on that to be more integrated with your coffee shop. But i have some idea on methods on paying cryptocurrency. It can be automatically convert to fiat or you can have some wallet to hold it until you decide to sell it.

A good one is CoinPayments, which accepts almost all cryptocurrencies and does it very easily for any merchant to use this service. Havent used them as a merchant though.

It is a good things to have peoples like you who wants to make the other peoples using cryptocurrency as a payment method because it will bring more peoples into cryptocurrency. To adding crypto as your payment method, you need to learn how to make your own cryptocurrency.
Maybe you can choose the ETH network to create your own token, and later you can make your own main net.

Your store's crypto payment method is a good thing, but all of that must be based on government decisions. so I think that is something you need to pay attention to before you receive crypto payments.

It depends completely how to use by Btc . Do you want to hold the crypto? Or do you want something that would be automatically converted into fiat at the point of sale? It is main issue for everyon. 
If it's the former, then simply create a separate wallet for your restaurant's payments, just as how you would normally create a personal wallet. If it's the latter, then probably try out BitPay[1]. Currently I think they only support BTC and BCH.

It is not easy to define and pick the best payment gateway method for online payments. Multiple factors determine what is a good payment gateway like technology, support, fees, etc.

I would suggest https://www.puutwallet.com very secure and safest app

Bitcoin and cryptocurrency grey area and yet not recognised by most of the countries. However, using it as a payment system is not barred under any law in most of the countries across the globe so I don't think that you will face any litigation. Still, I would recommend you to go with a legal advisor as he will be in a better position to assist you considering the applicable laws including amendments.

I think that now is not the most convenient moment for launching a similar system in your store. Wait for the course to stabilize.

Bitcoin as a mode of payment  is far better  than most of  the payment methods that we have.  I believe bitcoin is doing amazing well, I can't wait to see most business ventures around the world adopting the use of bitcoin in their daily transactions.

        I encourage you to implement cryptocurrency as a payment method. It will make you a unique place in your café and attract many customers. You have to implement a payment method by which to use a crypto currency available in your country. I still recommend Bitcoin.

do they have a fiat gateway?

I think when your country bans crypto, but many people adopt crypto, I suggest that you have to accept crypto in your business, but not for priority. You must provide a bitcoin address, so they can send you BTC for coffee and food.

I think everybody in the future, specially small businesses like coffee shop, will accept cryptocurrencies. This is very convenient. 

You're right. Even now more and more services accept crypto. Despite a terrible situation on the market.
Those services that have online payments can simply add a wallet address for payments and start earning crypto.

The current payment method is now becoming more faster than before because of the blockchain technology. It is better if you will now start to accept bitcoin as a payment in your small coffee shop for you to earn cryptocurrencies.

Bitcoin is not convenient for me to use as a daily currency, but other altcoins are very convenient.

Starbucks accepts crypto. That's nothing new about this.
Better think if it's possible to do  in your country according to government regulations.

I think that can be done if there are many around you who have bitcoin or other cryptocurrency, and you can apply payments using the cryptocurrency method.

Not at all times your business goes well. There are instances of uncertain things happens in your business. Your proposal was good. I hope your business will bloom in due time. It takes time to make the business fully grown in crypto and fiat means.

Just make sure that your government are not against the crypto so the integration progress will gone smooth.
When crypto getting hype, I'm sure there will be some group of services that able to help you to implement crypto for your transaction device.

You should check first how much you will charge in terms of crypto, because you know that crypto price is not stable or else your prices will be fixed through fiat and then can pay using crypto in the equivalent price

Starting up a fast food chain which will accept cryptocurrencies as mode of payment will really help you to gain more funds. However, there is also risk if you build a fast food chain that accept cryptocurrencies because the price of cryptocurrencis is volatile and unstable so once the price of a cryptocurrencies are down your funds will decrease. As of now there are already fast food chain who accept cryptocurrencies and I think somewhere in the future all fast food chain will accept cryptocurrencies especially bitcoin.

That easy .  what he should do is adjust the price according to the current value of cryptos but this a bit hassel knowing that btc is verry unstable and can fluctuate from time to time .


Actually crypto payments are suitable for any business not only for coffee shops or fast food but it is not a way to earn alot of funds because the profit will only depend on your service  .

@op , there are many tutorials online regarding on your concern . or you can also do it manually on your own way . first you need to open a crypto account and get you recieving wallet or qr code ( optional )  . then ,  let your costumer pay with that address  .

Crypto is indeed a very easy and effective transaction tool and this can be useful for any business. So this payment method has more advantages, but not all stores or companies will accept it. Only certain places can accept this payment.

a progress that you will make I consider you to make changes and the courage to do that, unfortunately I have not understood and want to also learn, hopefully there are colleagues who have done and want to share these experiences.

you can try the bitcoin and other cryptocurerncy as the payment method, there are many library that youc an use to connect the transaction with the cashier programs, and i think it will give the good effect for bitcoin

it's cool even in my country bitcoin hasn't been legalized as a payment tool, my question here is whether your country has legalized bitcoin as a payment tool?

many wallets that support you to use receive payments, I think the same thing that here also recommends Bitpay

No, cryptocurrency is not on the peak now. But if you want to run your business with crypto, you just can use crypto as your payment method without depends on the price right now. If you using bitcoin as your payment, i think you must wait for lightning network to be completed because when your store is crowd with peoples, they need to wait max 10 minute long to confirm the bitcoin transactions.

I think it will be a nice to add crypto to payment method to your project my question is who did you intend to manage the traffic, because if you want to you bitcoin it will some extra mall is you will have to educate your customers and citizen on how to use bitcoin transaction or have a customer care that will be assisting then.

I think that btc as a payment method is convenient. To my mind, it is better to use crypto than the standard currency because it is much more safe and provide you with many benefits

Using cryptocurrency as a payment method in terms of commercial trade transactions can help the whole process more productive and efficient. Its not time consuming therefore it is great thing.

I havent even try purchasing goodies using bitcoin thats why i dont know either how to process the papers or purchase the terminal which will be used for the crypto transaction. Try searching on your local business permit department and im sure they are more willing to help you regarding this matter.

maybe in FAR future it would be convenient. Right now some small business entities adopted cryptocurrency payment method, but it seems like "modern feature" and nothing more. Very high tax rates even for small operations like shop-payment

Take a look at BestRate.org. You can use your own ETH wallet for payments, it's free for personal use. If you are a shop, you can easily create a hosted page or copy/paste the code to your website or app to start accept crypto as a payment. It's cool to say, that you can set stable coin as a settlement currency, so all crypto coins would be converted to TUSD to avoid volatility.