Bitcoin Forum

I’ve got a pet shop and I wanted to accept bitcoin and alt coins then I was reading about becoming a bitcoin exchange ... is this possible? I understand it’s worth goes up and down.

For me if you already have a pet store but you still wanted to have another business like trading bitcoin, I think you should pursue those two businesses because both of those can give you a high profit and also that is another way of saving and investing your money. Its just like you are hitting two birds with one stone.

You own a pet grooming shop and you will receive payments using bitcoin and altcoin. Do you mean so?
I think it's good if you want to accept payments using crypto currency, everyone buys to your pet shop, but you should first introduce to your local community about bitcoin and other altcoins.

You probably wrong express your thought. Do you want your store to accept Bitcoin as payment in addition to traditional payment methods?

You can solve the volatility problem by integrating a quick-swap from BTC/Altcoins to fiat if you want to. I believe some third-party payment processor already does this for you so it's not a real issue. Another option is to schedule manual exchange daily so you can prepare for the worst if the Bitcoin value drops too much. On top of that, you can set up something like the trading bot to automatically execute a sell order in a specific exchange and then withdraw the fiat you got from there.

I am a bit confuse about what you really want to do,
Do you want your pet shop to accept crypto as a payment or create your own exchange?
But for me it is both possible if you want you could accept crypto on your shop and also be an offline exchange for the people who wants to trade their crypto for Fiat just make sure that you have enough funds.

You have already got a pet shop and introducing bitcoin/altcoins as a payment method would not cost you anything ?  Opening an exchange isn't easy and you won't be able to run it unless to have good knowledge and a lot of money to finance it.  From you post it looks you're new to crypto so better stick to option no. 1.

I hope you are going to accept dog(e) coin. :)

Put some tether option on it. Just in case you wanna break out of the BTC ponzi scheme.

Happy to start with accepting bitcoins how much cash flow for an exchange?

If this is a big city then there will be enough advertising. I am sure that the news about the store that accepts Bitcoin and altcoins will spread quickly among people

I don't really get your point,
so you got your own pet shop and wanted to accept bitcoin and altcoins as payment, is that correct? If so, it is possible, this option depends on your shop's policy.
But becoming a bitcoin exchange? what do you mean by that?

Take it one step at a time. Why don't you test and accept bitcoin and other crypto in your pet shop and see how it goes. It's going to be a struggle in the beginning because let's face it, bitcoin is not yet well known around the globe so there might be hurdles along the way. And remember it is very volatile as well, so you have to consider that.

As far as putting up an exchange, it is not that easy though, first you need to have a huge capital to begin with. Then you need to hire competent developers, get a decent name and service providers, support and security, etc.

Doge Coins best suits the pet shop. Maybe OP can put a logo of Doge coin on the sign board of his shop.  :)

https://i.imgur.com/GYijNaj.png

you are talking about two entirely different things.
accepting bitcoin is just like starting to add a new payment method. like not accepting credit cards and now doing so. you just learn a little about what bitcoin is and how things work and what risks there are and then create your own wallet and start accepting payments through bitcoin.

becoming an exchange is an entirely different thing. you basically want to start a brand new business that you probably have no experience in since your job has been something else. so first of all your chances of success are very minimal and secondly you have to initially spend a lot of money and have a large capital to start a decent exchange for the cost of creating it, security, maintenance, advertisement and more.

Lol ok so accepting bitcoin and alt coins how do you go about it? I signed up with BitPay

What is doge coin?

From what i understand, you want to open en exxhange and you want to accept cryptocurrency in this case is bitcoin as a payment. I think dogecoin is suited since it's kind of like a pet things and it has cheaper fee comparing to bitcoin,for your information bitcoin has a higher fee especially for small transaction, people have to pay higher fee in order to get faster confirmation.

Just wait for the Elon Musk coming on the next day after DOGEcoin accepting, he will come for pet food  ;D

I don't see anything wrong in making some profits by offering this feature to your clients. If you are accepting cryptocurrency payments through a processor like Bitpay, then you don't really have a way to profit from the transactions made by your customers since Bitpay takes all the commissions from handling the txs. However you could be a little creative and maybe put a Bitcoin ATM in your store and/or offer an interface for people to buy and sell crypto at fixed rates. You can be more flexible here, but you're going to need a team of skilled programmers to pull this off.

Yes I love the idea of a bitcoin atm. How would it be possible? Does BitPay handle dogecoin? I would be first pet shop doing this I reckon

Since you have got a pet shop, I guess it's better if you start accepting bitcoin through Lightning Network; best for micro payments. You will get-
- Instant Confirmation (You are unlikely to wait for confirmation.)
- Low Fee (Your customers are unlikely to pay higher fee for a small transaction.)

Lightning Network can be the best solution for shop you referred.

If you need to learn more- A Beginner's guideline to Bitcoin Lightning Network (https://bitcointalk.org/index.php?topic=5202798.0)
More interested; try Lightning Network with testnet BTC- [Tutorial] How to create Lightning Network Channel (Testnet BTC) (https://bitcointalk.org/index.php?topic=5212243.0)
If you have got some questions to ask, don't hesitate. Go to the thread I referred & share your query; will gladly assist as much as we can.

This is in the U.K. it is legal and it is my pet shop so I don’t have to seek permissions. Brighton is a modern city and we are prob big enough to trial it. Lightening payments look great! I could even sell the system to other shops?

I think you are confused. You can accept crypto payment, it is not so complicated thing. You can either accept bitcoin or use a token. But if you want to launch an exchange platform, it is something hard, you have to be more professional and forget about your pet shop.

If this does not violate the rules of the Dogecoin community, then it sounds like a super idea for advertising a pet store!

Pick doge and tether. BTC is too gay and crime endorsing. You don't wanna be associated long term.

Edit: And perhaps TRX for fast transfers.

You mean selling the system of lightning payments? well, you can create your own service that will attach the other shops and be the third party that shall process their payments.

Do you already have the website? may we see it?

reminds me of MTGOX.

MTGOX was said to be meant for a card exchange site. you know those collectible cards where nerds are trading. i'm not really aware of this but i just read it somewhere which its history were discussed. they were trading cards and eventually some of them accepts BTC and then later on Karpeles turned its website into a php written BTC exchagne which its security is very poor.

OP should jsut accept BTC instead of making its petshop into an exchange.

I think what he meant to say was to accept crypto as a payment method and this inspiration actually came forth as he was reading an article about bitcoin exchange.
Answering OPs question it would be a great idea and also expose bitcoin to your customers but i hope they are no legal restrictions of bitcoin in your country.

I agrer,  in facy it woud be very good especially for those pet lover but at the same time also using bitcoin or other cryptocurrency. It may be a good start of expanding the ussge of bitcoin in this world and hoping that other stores also accept it as a rule of payment.

It won't take more than a hour to set up everything he needs. It only requires him to create a channel and increase the inbound capacity (to receive payments). Creating a channel requires 5 minutes. I have shared tutorial above and you can check that. It's not that much of hard as you are thinking.

Your questions aren't clear. What are you referring to?

Slinging shit over the fence.

Why would he do it if it where illegal.
Is it a criminal offence where you come from?

You don't need any third party gateway with a proper plugin. Check up on modules for your CMS.

Meaning you can avoid fee's.

Yes you have a few different options, as a shop if you want to only accept crypto and sell it for cash right away there is a really good website for you:

https://bitpay.com/ (https://bitpay.com/)

You can sell items for Bitcoin and trade it in for cash right away you will receive the funds directly to your bank account with zero price volatility or risk.

The other option is to directly recieve Crypto for items yourself and keep the Crypto of course, if you dont need to spend the money right away on needs like rent and food I think this is the best option.
It is the most risky one but can also be the most rewarding one!

Right. Use a cold wallet for long term storage. (Not connected to any network wallet. Remember to save a deposit address for it before you bag the key.)

Brighton is a gay seaside city. Lots of antiques as well - not just old dogs. :) Here is a video of the Pet Shop boys at the Brighton Pride music festival in 2017 - https://www.youtube.com/watch?v=GuXtaDQdaF8

Roedean is on the outskirts of Brighton, and it hosts the famous Roedean school, which is the girls' equivalent of Eton. The treasonous Gina Miller of anti-Brexit fame was educated there.

Tie some of those in with crypto, and you could put your shop on the map. :)

Lol, nice one--and that would actually be a fantastic gimmick for a pet store.  Not kidding about that.

OP, if you really own a pet store I would stick with that if it's profitable for you.  There's nothing quite like owning your own business, and I'm assuming you'd have much less of a pain in your butt as far as regulators go than you would if you tried to start a crypto exchange.  I also don't think another exchange is necessary, because as it stands only the bigger, more trusted ones are used by people who are serious about crypto.  Plus I don't think it's very easy to break into that game anyway.

You'd be better off running a crypto pet store, and I think all you need for that is a payment processor unless you want to receive actual cryptocurrency (which is not what most businesses do).  Best of luck.

Yep, that's exactly what I was thinking.

You have misunderstood between Bitcoin as payment and Bitcoin exchange.
Well if you want to accept Bitcoin in your shop I think you need to consider the volatile price. Example situation: the customer buy 1kg of pet food at a price of $10 (0.00125 BTC after conversion, at the rate price of $8,000/BTC), and then you need to restock those pet food, let's say it's cost $8 and Bitcoin price fall down to $5,000. So your 0.00125 BTC become $6.25. You need extra funds to cover that, if you not restock those pet food, the circulation of your money will be hampered, isn't?


AFAIK since bitpay is no longer partnering with shapeshift, processing the payment using altcoin is currently not possible.
Doge coin is altcoin.

Pet crypto exchange? sounds new and not that gaining interest of crypto traders and investors, coz you know that you have pet shop and you want to add crypto exchange to trade different kinds of crypto tokens, users might not get what your aiming to this but you may try if you have knowledge to run a two kind of business as one.

You already have a pet shop. You can receive crypto as payment in your shop if you want. But there are some things to know well before you start accepting bitcoin as payment. Will your country's government allow you to accept crypto as a payment? If so, you can start accepting with permission. If you can do this, Bitcoin will be known to your customers. As a result, people who did not know Bitcoin before will also know about Bitcoin.

Accepting crypto in your pet shop is different if you have another business of crypto exchange. First, you need to learn more about crypto stuff and other related to blockchain function. Probably it takes time before you can build a crypto exchange. Back to your pet shop, if you are accepting crypto there's no problem but you need to understand how the crypto market being volatility and when you convert into fiat you might lose or gain. You can accept through having QRcode from your bitcoin or altcoin address.

Exchanges are much required for the growing crypto market. Maybe now you won't be profited, but there is good benefit in future. You need to learn more about the market, it isn't something as a shop where you sell goods. Exchange needs to have immediate transaction support as well as you need to know to make earning out of the fluctuations.

The only exchange I can think of is one where you have put the pets on a blockchain. That would provide a pedigree for the animals as well.
It could give rise to some terrible jokes about BITcoin. - Honey your savings are in the dog, and stuff like that.

Fist time when you want to open pet shop you must have an exchange with coinbase account, how ever when your costumer have the same payment you can received with coinbase exchange wallet without get fee, you ask to our costumer sending with email address without use bitcoin wallet address.

Accept bitcoin and other cryptocurrencies for payment. Put the sticker on your door. Be a local supporter. All of this is fantastic!

The exchange part is totally separate. If you're going to facilitate transfers for people, set up an exchange online, keep it separate from the pet shop. If you live in the US structure it as a C-corp so you're not personally liable if something stupid happens to the exchange accounts. You can use the pet store to advertise your exchange for those paying with crypto, but keep it separate.

Let us know how it goes with both projects! We're here to help!

Depending on the sums involved, I could probably buy Bitcoin for Sterling from you, and do it at the XE.com rate with no additional fees.

I didn't get what you mean? You just want to accept bitcoin Or opening an exchanger of Bitcoin and altcoins. It's really good to accept Bitcoin in your pet shop, I haven't heard before that someone buying pets using Bitcoin which that make it an unique thingy.

so possible if you want to try. for the first if you want to buld bitcoin exchange you should learn more about exchange, how the team, and how to manage it because if you miss one of them you will fail like another exchange who can not survive with other exchange

my advice better to accept bitcoin and altcoin for your pet shop to collect customer and when your get a lot of customers you slowly build bitcoin exchange

Thanks so much for all your input. So to accept all these coins. You would recommend BitPay. Is there any other ones without transaction fees? BitPay the best one? I think I can literally type amount into BitPay and it shows a QR code.

huh. that's way too funny I mean thay could combine both like get a dog for btc

There is no harm in trying to accept payments with cryptocurrency, it will make your vet unique, who knows it can be an effective promotional way to bring in customers.  related to unstable cryptocurrency prices, that's one of the difficulties, so maybe you should determine the nominal with the current rate on that day, or to be more effective you can also use Stablecoin.

If you are aware of the volatility of how Bitcoin and other cryptocurrency work then this is actually a good idea on spreading awareness and services of Bitcoin or any other altcoins in your community. This is hitting birds in one stone as you do not only accept payments with crypto, you are also spreading awareness too. I think it would be good to put some banners to let others now.

You can include bitcoin and some altcoin as an alternative payment for your pet shop. so there are two types of payments to choose from, can use FIAT as in general and use digital payments in the form of bitcoin and other altcoin.
You need a support platform to solve the problem of paying bitcoin and altcoin with high voting issues. Payments will be automatically converted to Fiat instantly, so that the same value will be obtained and there will be no difference.

yep, Pet shop requires Dog (e) coin, it is mandatory because this shop is specialized for dog food and equipment  :D

So to accept I can use bit pay for for bitcoin and what for altcoin? the lightening channel is for all coins or just bitcoin?

So the lightening network app is only for android?

I highly appreciate your initiative to adopt bitcoin exchange and payment method to your pet shop but I'm sad that it might not give your the profit you want, but I still believe that with simple initiative you do, it could attract market adoption and when that happens, that is when profits will come into your hand. So my advise is to have payment option, and save all bitcoins you could have and wait for the right time to sell it. I could say, it is as easy as posting a QR code in your cashier that directly ask for payment in bitcoin.

I guess you want to have a pet shop and you accepting bitcoin and altcoins right?

If that you purpose and that will be good and you helpful to the community even your pet shop is small is still have good effects. Crypto coins are volatile and if you accept crypto payments you need to be ready  if the price down but if the value up your money will grow and your profit is become bigger. Accepting bitcoin and altcoins as payment have good and bad result bur mostly it is good.

The pet shop and the trading business can jive together. His idea is really great because as what you have said it can attract more people to join here but it depends on how many users and how money people does know about cryptocurrency in your area and also in your location for example if you are living in a province I think you will feel struggling if you pursue your idea because the people in the province are sometimes poor or ignorant so it takes too much time for them to adopt the bitcoin.

A pet shop that will become a bitcoin exchange? Well its possible only if those pet owners wants to pay and buy bitcoin to you personally but it can't happen online since it will take a lot of preparations and your system must be good enough to handle the traffic. P2P exchange are most possible on your business, its a good option.

Yes it is really possible in fact I have read some articles in which a pet shop is accepting bitcoin and other altcoins as their payment in the services that their pet shop is provided, in which some veterinarians are also accepting bitcoin, but also for those veterinarians that are aware of what cryptocurrency is.
 At first I can say that it is really a risk to set up a pet shop in which the payment will be through cryptocurrency but I am pretty sure that you are aware of what would probably may up's and down's of this kind of set up so better research and take the risk on it.

just forget creating a Bitcoin exchange because majority of Exchangers that open years back and even those newly created has already dead by now and losses their money.

why not just push that Petshop business of yours and Upgrade to accepting cryptocurrrency so you might be ready when adoption happens in future.

in days come Crypto will be the main currency so if you can accumulate now then bigger profits will awaits you soon.

Still depends on the market you are in. Though most likely, your vicinity is not familiar enough to use cryptocurrencies, and so you will have a very little market actually paying using cryptocurrecies.

It may be more feasible if you are doing it alongside a great promo, to encourage customers to pay using crypto and boost first its popularity.

Maybe you are referring to being a cryptocurrency exchanger just like the many money (usually forex) changers we have around, right? And in that case, you need to know the many laws regulating that kind of business. Accepting Bitcoin or any cryptocurrency for your business can be the easy part but with exchanging business that has many regulations in placed so you need to make sure you are doing things legally otherwise you can be encountering many problems with authorities. Anyway, good luck with your endeavor and I am wishing that you

There is no problem in my opinion you want your pet shop to provide exchanges for bitcoin and altcoins. That can be done just to be prepared
facilities such as devices and internet connections. But what must be considered is the legal aspect, does your country legally allow the practice
cryptocurrency. Because some countries are strictly related to cryptocurrency transactions. If your country does not prohibit, please realize it right?
the plan. And one more input from me, pay attention to customer service not to disappoint.

Accepting bitcoin for your business is one aspect and that can be done easily as you need to integrate a wallet to your site so that you can accept crypto but starting an bitcoin exchange is a different ball game altogether, majority of the exchanges in the market started with minimal funds and security and you have seen many hacks and it is not a easy process.

Nobody can stop us from whatever plans we had with our business whether you're a fast food chain or a regular pet shop. In order to make your customer satisfied with the service, make sure you'd a able to provide them what they really wanted. Never allow any delays and possible breakdowns for them unless it's a natural disasters like calamities of nature.
This is one ways of exercising cryptocurrency adoption and possible that many other branches would love to deal with it.

as long as it's not against the rules in your area or your city, I think it can be done. however, at this time many crypto users are focused on increasing their assets, so they use all means. as long as it doesn't break the rules, it can be done. honestly, I also want to open a business like that, unfortunately, it's prohibited in my city.

Good idea but you need to invest so much money hope you already own a pet shop. Yeah if your store has an bitcoin ATM shop then good and people should be aware of Bitcoin as most of them doesn't know about Bitcoin. It takes time as bitcoin is not known  to much people and it's a decentralized crypto currency known  for its volatility think it's bit risky.

The pet shop is established and we are a busy shop. I just want to be forward thinking. It will be great advertising. But I don’t know the best software to do it. So bitcoin atm could be possible rather than an exchange?

I think you have a few options.

You can accept Bitcoin, and an interesting variant would be an offer to provide change for a purchase in Sterling.
You could use Local Bitcoins to exchange crypto.
You could install an ATM

You will need to be careful that you don't breach any banking regulations, and also you will need to make sure that your business bank is happy for you to have crypto associations.

If all acceptable. How would you go about doing these things.

Like the variant idea

why not possible?
accepting payment methods with bitcoin or other altcoins will certainly make it easier for us to make transactions in the era of advanced technology as it is today, so it is not surprising if we see that today bitcoin is a digital currency that is very popular as a means of purchasing and payment easily without the need to pass through services banking financial authority.

It is possible if you want to. But i don't think that changing your pet shop to bitcoin exchange must be good. For me, i do not want to risk the stable earning shop for bitcoin. I think you must be practical, make a different place for bitcoin instead of replacing the pet shop.

I meant a pet shop and an exchange

I have bitpay that’s for bitcoin right? And for other alt coins what would I use. I love the idea of Dogecoin.

I was thinking an exchange but maybe an atm would be easier to manage?

Pet shop business is already a good one,together if you have a grooming and pet foods offered because i have a friend that has it and now he is having 4 branches already and still going good and profiting.
while having exchange business in crypto is very risky because there are many exchange that has been accused of scams and other dirty work and aside from this the hard and expensive start for this business.

I’m not intending on closing down the pet shop.

Yes, it is possible but you should know becoming a bitcoin exchange a has risk that comes with it. regarding the volatile nature of cryptocurrency, if you are worried about the price suddenly
going down when accepting bitcoin as a payment to your pet shop business you can quickly exchange it into FIAT.

Of course, you should implement the possibility of accepting payments in cryptocurrencies in your pet store. Even if there are not many buyers of goods for cryptocurrency, this option will allow you to make an advertisement for your institution, which will undoubtedly attract the attention of the public. As a result, your business should become more profitable.

So what do I need to implement these?

Accepting is way easier, but being an exchange is a different story. But if it will only be like a btc to fiat exchange in your area then OP can do it. It's also a way for him to have bitcoin as an investment at the same time as a business venture. Many stores will accept Bitcoin too in the future so it's good to be a early adapter.

So how do I accept?

really you want to have exchange or you are only accepting bitcoin and other crypto as payment?

Having your own exchange is not an easy task and its need more money to start your journey having it, you also need to have background in any other coins and know how to secured other assets using your exchange .
If you only want to accept crypto as payment then you only need local exchange for this.

Some just do it using a QR code.
You will just need that QR code from Bitpay. (I haven't tried that service yet so I dont know if they have it.) But most of them do.

Just print it then protect it with something plastic to avoid getting wet.
Post it near the cashier and they can pay thru it.
Just like that.
It is a payment option just like any other out there. I don't think you will need much legal documents for that.
Merchants just avoid this because of the risk of the volatile market of bitcoin.

I hope that is what you meant and not making a whole exchange.
Because that needs a team, legality and a lot more before you could start.

What about an atm? How could that work?

BitPay doesn’t do DogeCoin? How could I get that as a payment option?

This is a confusing question, if your country does not prohibit using payment of bitcoin and altcoin, I think there is no problem as long as you understand the risks, as you know the prices of bitcoin and altcoin go up and down, if you want to make an exchange there it is also no problem as long as there is agreement from people who come to your store, the greater adoption using bitcoin and altcoin payments will also increase prices in the market

If that's the case then it would be really good because as we can see you want to have an paymrnt option for the cryptocurrency which is very good because of that we would be able to introduce and spread what bitcoin or cryptocurrency really is and we can also introduce it to them as a useful payment transaction and less hassle for the client because we are already accepting bitcoin as their payment to our pet shop for example if they want an vaccination for their pets then it should be paid through cryptocurrency or bitcoin.

Kind of confusing... You want to start accepting Bitcoin payment in your pet shop business or you want to completely change your business from pet shop to an exchange?
But accepting crypto payments is very fine. Just make sure you won't encounter any problems with your government. But that's a great way to promote Bitcoin. We need more merchants and shops to accept Bitcoin to fully achieve adoption.

I will keep my pet shop. I want to add a payment option of cryptocurrency.

But would like to understand going further and seeing what else is possible?
I like the idea of an atm
I like the idea of an exchange

it will be a good way to promote bitcoin if you will accept it in your pet shop
but you need to learn about trading because price of bitcoin is volatile
so if someone pays bitcoin in your shop you will know when to hold or sell.

So you wanted to start an new Pet shop , you need much money to invest on it thats not so easy you need to do advertising, your country is regularized with Bitcoin then you can goahead with ATMs as others told it is a good idea but it takes much time for you to make profit think and research on it well and then start it.

The solution you are taking right now will benefit you in the future, but you should think more carefully to open exchanges to find out the price of ups and downs that everyone can understand, but all prices on the market are often different and that is often I see in all exchanges not 2 or 4 sakaligus even very many different exchange prices, so how can you conclude it for all those who want to exchange with your exchange ..

I don't think there are any animal shops that accept digital currency payments like Bitcoin and other altcoins, but you also have to know which altcoins are valuable or not, because I see all altcoins are not very good in all markets and there is no significant development in all markets, but tend to Bitcoin and Ethereum which are still very good to be accepted as a means of payment ...

very possible that happens, but you need to pay attention to the demand side.
Will there be a lot of customers to pay in your shop using bitcoin or altcoin ?

I am sure you are referring to making crypto as part of the payment processor for your pet shop. If this is so, I think it is a good development and this also comes with challenges and I am very sure you can make it work. Firstly, you should know there are many crypto available today and it is very important you only accept some top coin. I will suggest you only accept BTC, ETH, and XRP in order to minimize the effect of volatility that generally affects the acceptability of the crypto asset. I am very sure most of your customers might be willing to pay with bitcoin using a mobile wallet such as bitpay. So, you can store your crypto temporarily on the mobile wallet but it is very saved to move to a hardware wallet to keep it safe. you can search for the best hardware wallet on this forum. I wish you all the best

Accepting bitcoin and some relatively stable altcoin is good but never forget to always convert to fiat or a stable coin in the event of a possible downward signal trend in the market. Adding exchange like selling and buying of bitcoin and selected altcoins will be a good profit.

Becoming a Bitcoin exchange from a Pet Shop owner ? hmm I would say that this is not a good idea as you can simply implement Bitcoin as a gateway payment and everything will be ok as customers can pay with Bitcoin what are they buying from you. Also no one forces you to stop only on Bitcoin as you can implement a lot of other new payments gateways for your customers and business.

Could I setup my own payment gateway? Keeping fees down? Could I offer it to other pet shops?

Actually it is a good idea to accept payments using bitcoin and altcoin at your pet store, so that more and more people are using it. And if you want to start a business to open a crypto exchange, that's a good idea too, but you should be able to find a team that is truly an expert in their field, honest and full of dedication.

Yes it is indeed that it is a good idea to accept payments and transact using a bitcoin and altcoins but the only problem here is it is very hard to make an payment using bitcoin because many people are not aware about cryptocurrency, but the main goal was to introduce it first to them so that they will be able to make a payment and transaction using bitcoin and altcoins as well.

If your pet business is good and things are working out fine, then there is no need to be worrying yourself about changing business or venturing into crypto exchange, you don’t even know whether you can make it there. And moreover there is nothing wrong with having two Businesses, rightfully you’re meant to have two sources of income – why you should have two sources of income is in case one doesn’t work out you can then rely on the other to support yourself and also raise the other one back to a higher standard. You can accept bitcoin for your pet shop, that’s cool.

Running an exchange is not a small business and the competition is even too much.

Pet shop become most popular shop right now because many people like for adopting pet and they look like with pet like cat and dog, when you opening pet shop and accept bitcoin as payment transaction is very good but is worth when transaction under $20 or $10, did you can manage with fee transaction using bitcoin or altcoin?

You aren't serious about this, are you? There are less people around who have a dogecoin wallet than a bitcoin wallet and using a lesser known altcoin as the only payment method will turn away potential customers.

Besides OP could have just as well accepted rabbitcoin, catcoin or birdcoin, all of these exist.

you can use  coinbase merchant register at here https://commerce.coinbase.com or you can use https://www.coinpayments.net the detail to using coinpayement at here https://www.coinpayments.net/merchant-tools

or if you dont want to be merchants you can use simple bitcoin address, then calculate every someone want to pay in bitcoin.

Pet shop ad bitcoin exchange would have no actual connection.
You can try to sign up on some payment gateways like coinspayment, coinmama, etc and start accepting local payments by generating invoices.
Creating a exchange is not really a easy task and you would need a lot of money to make it start and regulate.

The only thing that will be a problem is the price of bitcoin that it is always unstable or its volatility, better to have a list of price in USD then you will show the daily rates in your shop, just like what they are doing in some gasoline stations, so that your clients will be updated and will not ask any questions, also it is okay if you will put some of your products online so that you will reach more people outside of your vicinity.

what?don't you know that it is more advantage to received Bitcoin as payments now?because this is 2020 and the Bitcoin halving is near to happen again?

and besides OP is not asking on how he can accept Crypto as payment instead he is looking to create his own exchange things that i think very hard to try specially if you have no Big knowledge about how this works and run.

Incorporating bitcoin to different stores especially those that we personally own is one of the great ideas we could possibly implement, but the problem is that, are the customers willing to wait for the transactions to be processed? Or else, I like the first idea you have which is to first connect your store to local exchange, because basically, having the same exchange will make your transaction even faster to be confirmed. Though, you need to think deeply about the regulations that you need to follow for this to happen.

You can get more information about dogecoin here.
https://coinmarketcap.com/currencies/dogecoin/
And you should include in it as an option along with bitcoins.

Some how it was a good idea but we all know that it is very risky and in my personal opinion this is not going to work most of the time because in a business if your going to make the payment in a cryptocurrency like a exchanger I think it is going to need a lot of capital and also you need to accept different token or Altcoins in the market which is a bit risky for a lot of people because the market is also having its movement, if you need money for your business you cannot easily sell they Altcoins.

That's right, it's risky especially stable prices, and the OP has already talked about it. Fluctuating prices can be overcome by using stable coins such as USDT to provide a constant price from existing services. However, this goes back to the objectives of the OP, if you want to pay using BTC or ETH or another altcoin, you can make a price benchmark with fiat and then confirm it with the cryptocurrency price right then. Whether it goes up or down after that is the risk, and it can be considered as investment or savings.

You can do anything if you really want to and have some money and dedication OP. A Magic the Gathering card exchange became Bitcoin exchange one time ;)

Of course it's not going to be easy now because there's a lot of them to compete with. Maybe first become a physical exchange like fiat exchanges. People will bring you cash and you will trade them Bitcoin and other coins.

Yes this is exactLay what I literally just thought of. I was gonna create a new post. Could I offer to sell bitcoin for cash?

How would it work in laymen’s terms? What cut would I make?

What decides bitcoin's cost? The cost of a bitcoin is dictated by market interest. At the point when interest for bitcoins builds, the cost increments, and when request falls, the value falls.

The all out Bitcoin advertise is still moderately little when contrasted with different ventures. It doesn't take noteworthy measures of cash to move the market cost up or down, along these lines the cost of a Bitcoin is still to some degree unstable.

I think it does not matter as long as you do not violate the rules that might have been applied in your country, because what must be considered in this case is about the legality of crypto in your own country, if there is no problem about this then of course making your store as a place to exchange crypto with fiat is a good idea because anyone who has crypto there will immediately cash it directly in your shop.

Any business that accepts Bitcoin will automatically receive some hype just due to the fact you accept Bitcoin. Expect to be placed on map sites, which in turn will drive some traffic.

As to how much traffic, that really depends on your area. Some niches may derive more traffic from the use of Bitcoin (such as tech stores, etc) than other (for example, your pet store).

Honestly, you got nothing to lose though. It's worth a shot.

As for turning into an exchange, I'm not entirely sure how you'd approach that. Are you talking about physically creating an exchange. As in you'll buy/sell bitcoin face-to-face w/ users?

As one of the growing payments, today is the use of cryptocurrency, and no law tells they are; there are no restrictions about paying of bitcoin instead of fiat currency. Also, it is an excellent adaptation for making the payment if bitcoin because today there are a lot of people, for now, is using the bitcoin ad payment in other countries, and also they made atm and banks that support the withdrawal of bitcoin to them. If you think most of the customer you have has a cryptocurrency and you want to make payment for bitcoin, it is suitable also it is less hassle because you are sending the address without trouble in the queue and both of your time becomes more productive.

First check whether the usage of cryptocurrency as a payment is allowed in your country. If there are no legal issues, then you can accept Bitcoin or any other cryptocurrency as a payment - either directly, or using a payment processor (such as Bitpay or BIPS). I would advise you to go for a payment processor. Because it will immediately convert your crypto to fiat currency, and you no longer have to worry about the volatility (BTC can go up or down by as much as 10% in a single day, and this is a major issue while accepting payments with crypto).

I think it is better if you separate those two. You know why? The income in bitcoin si huge if you only know how to play around with it. Stick with your pet shop business and do the trading also in bitcoin. Play around the money that you have. But if you really want to pursue it, you better try to check if that is legal in your country. Some of other countries out there does not allow the bitcoin transaction in their government.

A good solution,but the problem is that when accepting bitcoins for payment, how will You report to the tax service?Living in India, you understand that in this case you can get under some kind of ban and in the end You can be arrested.As far as I know, there is a very large number of bitcoin ATMs in America.I think there will be no problems with paying with bitcoins for goods and services.Therefore, you better find a store that already accepts bitcoins and personally find out from the owner how he organized everything.This is still illegal in my country.

Why choosing only one where in the first place you can use both ;D. Accepting Dogecoin doesn't necessarily mean you are having lesser chance of getting customers. He can use the logo Doge (not literally copy-paste it because of copyright issues but use it as an inspiration) for it brings charm and appeal for the customers bit mainly use bitcoin as a form of crypto payment. What dou you think? That's a better idea, isn't it. What I just hope is that OP is willing to hold doge and know the risks of crypto investing. Because if he will only do all this things just for the sake of having a unique pet shop then he might loss in the long run :D.

From what I comprehend, you would like to open en trade and you would like to acknowledge cryptographic money for this example is bitcoin as an installment. i feel doge-coin is fit since it's kind of sort of a pet things and it's less costly charge contrasting with bitcoin,for your data bitcoin features a higher charge particularly for small exchange, individuals got to pay higher charge so on get quicker affirmation.

Seriously man if you do so, you are the first one to accept bitcoin as a means of payment to their Pet shop. I never heard anything like this. mostly I heard stores that are accepting Bitcoins are restaurants and other beverages stores. I never heard of Pet shop accepting bitcoin, If you implement it, then you will become the first one to do it in the world.

 buy BTC ATM and install it on your petshop

https://www.generalbytes.com/en/

See if you are going to do that , you would have to first consider how you are going to exchange , choose a good wallet store them in it .
Or if you are scared of the volatility , you can just exchange the amount right at the time using some exchange but it would be nothing different than receiving money , Fiat .
Therefore I do think you should try and make an online user interface and then you can decide how many people are actually interested in it .

If you accept bitcoin payment, it will be the first Pet store to accept the bitcoin as a payment method. I would like to know in which part of the world you have the Pet shop ?
Having an bitcoin exchange is something different or maybe you should explain clearly what do you mean by becoming a "bitcoin exchange" ?

Anyone who wants to accept bitcoin can.  A pet shop? Sure why not.  I've actually got a couple local places that accept bitcoin and or other cryptocurrencies. One of those places is my pet shop.  The lady who cuts my dogs hair is a cool /younger gal who loves technology and is always talking to me about bitcoin and other cryptocurrencies knowing that I am in to them as well.  I also have a local convenience store right down the road that accepts bitcoin.  My local barber and a small indian food place not too far away from my house also accept bitcoin/cryptocurrencies.  I think it's an awesome way to spread adoption.

The thing you are asking have two possobilities here that you can accept btc and other cryptocurrencies for your pet shop only if you local assests have knowledge about it and they want to trade in these digital coins or you can expand your business online with third party payment processors which can deal in crypto on your behalf and gives your fiat.The other is you want to open your exchange?And if that so you can surely give it a try but you need funds for that and start trading in that line.Both have great oppurtunities and bright future ahead but keep in mind the volatility affect so you don't suffer losses.

That will be a good idea to associate accepting cryptocurrencies in your own pet shop as a term of payment. That will help promoting the usage of cryptocurrencies and let other people know that such type of currency do exist because even if cryptocurrencies are already well-known, still a lot of people do not even know about cryptocurrency and do not know anything about it or how they will going to use such currency. It is just that people in your place must first learn to start adapting the usage of cryptocurrencies so that your plan to associate using cryptocurrency for your pet shop will work because if people do not even know or adapt on using crypto, then it will be nonsense to be implemented.

I got a little bit confused as to you accepting bitcoins and altcoins as form of payment in your shop, or starting your own bitcoin exchange, or just fusing them all in one? Either way, starting something such as a business or an exchange doesn't need the interest only but it needs passion and action. Most people have pets being groomed and well taken cared of rather than humans so it is actually a good idea. Maybe you can put up a sign outside/inside of your store saying that you accept bitcoin as payment or rather endorse yourself to your loyal customers. It would pay off hopefully and you can boost your store's ratings. Not only you take care of their pets, but you generate income in the form of cash and cryptocurrency as well.

A bitcoin exchange is a place where you trade bitcoin. You are talking about accepting bitcoin and crypto. It is very easy and there are endless topics.


He wants to use bitcoin as a payment method. He said exchange because they probably don't know any better. But they are learning so its good.
Give a discount to anyone who pays with crypto. say 5% at least. 10% would be great. I hope this is not a pet shop that sells dogs and cats. You can save a dog or cat fro, the spca for free.

it is possible. during your duration there are no regulations prohibiting using bitcoin or altcoin as a medium of exchange, you are free to do that. as far as I know, many people have done things like this in other fields. it's just that, you need to know what the risks are, and not all customers know about crypto, so make sure it is only used as an alternative payment.

maybe this will let Him help the Bitcoin or crypto community because he has already existing clients in which He can encourage to use crypto as alternative payments,But also you are correct because there are some individuals already that did this thing i just don't know if they are still existing and if they successfully made it through .
maybe First Bitcoin paying petshop in His place because we don't know if  there are existing in our time now.

Look with your costumer have know and use with bitcoin or not, if the have been similiar with bitcoin as currency payment you can use bitcoin in your pet shop, you can take profit with using bitcoin as payment currency when price is up and keep get much profit for next time.

it is possible that the plans made are very good and can help those who really want to make payments with bitcoin. but you should first survey your customers, maybe not all of your customers like and understand bitcoin. so that your main goal is to open a pet shop to look for profits instead burdened with transactions that are not necessarily preferred by your customers.
although it's clear that with bitcoin transactions you will also benefit from any increase from bitcoin, or vice versa. just how you anticipate the exchange to be done.

In my opinion depending on your country's regulations, if your country has legalized cryptocurrency as a payment, then it will not be a problem.
So when your pet shop accepts payments with bitcoin it will be legally safe. For bitcoin exchanges it must have a website itself and also must
get government permission. But I am glad that your pet shop accepts payments with bitcoin, this is a great way to promote bitcoin to be known
by more people.

In any case, if we are talking about illegal business within a certain country, then the use of cryptocurrency should be only according to a specific law, that is, on completely legal grounds.  Undoubtedly, every store, including a pet store, can use cryptocurrency as a means of payment, but the report to the tax service on income, the store should be sent accordingly.  but exchanging cryptocurrencies is a completely different line of business, as opposed to trading in pet products. And for this you need to have really certain government permissions.
The fact is that in the laws of any country there is an appropriate regulation for the activities of exchange offices for currency.  this activity is carried out by banking institutions and non-banking institutions.  in order to obtain permission for a non-bank exchange point, you still need to register a non-bank financial company and obtain a General Currency License of the state bank of the country.

If you have a Pet shop and decide to accept BTCitcoin this is fine. You could increase your capital with the crypto exchange but in order to have better results you should be a good trader and invest with caution.
About becoming a Bitcoin exchange, I found the following information. I hope it is useful

https://www.skalex.io/how-to-start-your-bitcoin-exchange/ (https://www.skalex.io/how-to-start-your-bitcoin-exchange/)