Would you adopt Bitcoins flexibility?

[lionheart78]

As Entrepreneurs we get into various business transactions. And consideration must be considered. Having the characteristics of money especially paper money, what's stopping you from accepting Bitcoin for your business transactions?

1. Payment Setup (needs additional expenses for this)
2. Clients/customer (possibly no enough customer using Bitcoin as payment option)
3. Knowledge about Bitcoin ( Lack of knowledge on implementing payment gateway)
4. Fear (fear of messing up the security settings of the payment gateway)

Most people believe in not reinventing the wheel if it is not broken, although the monetary system has lots of flaws, many merchants believe that it is not broken in terms of the payment system so they want to stick with the system that is already proven rather than implementing a new payment option that is new to their knowledge. 

[nemesis_incarnate]

As Entrepreneurs we get into various business transactions. And consideration must be considered. Having the characteristics of money especially paper money, what's stopping you from accepting Bitcoin for your business transactions?

1. Payment Setup (needs additional expenses for this)
2. Clients/customer (possibly no enough customer using Bitcoin as payment option)
3. Knowledge about Bitcoin ( Lack of knowledge on implementing payment gateway)
4. Fear (fear of messing up the security settings of the payment gateway)

Most people believe in not reinventing the wheel if it is not broken, although the monetary system has lots of flaws, many merchants believe that it is not broken in terms of the payment system so they want to stick with the system that is already proven rather than implementing a new payment option that is new to their knowledge. 

Unfortunately, it's true.

But those grabbing new opportunities first are usually the first to get the biggest results from it

[Text]

For me the idea of adopting Bitcoin comes down to practicality. I really like its flexibility, fast cross-border payments, no middleman fees like with banks and it opens doors to a global customer base. But at the same time the volatility is the main factor that gives me pause. If I accept Bitcoin today, the value could swing up or down tomorrow before I even convert it and that can affect margins. I think the best approach is balance, accept Bitcoin but use payment processors or stablecoin conversions to manage risk. That way I don’t miss out on customers who prefer crypto while still protecting the business from sudden price drops.

[taufik123]

For me the idea of adopting Bitcoin comes down to practicality. I really like its flexibility, fast cross-border payments, no middleman fees like with banks and it opens doors to a global customer base. But at the same time the volatility is the main factor that gives me pause. If I accept Bitcoin today, the value could swing up or down tomorrow before I even convert it and that can affect margins. I think the best approach is balance, accept Bitcoin but use payment processors or stablecoin conversions to manage risk. That way I don’t miss out on customers who prefer crypto while still protecting the business from sudden price drops.

There's no need to worry about volatility because you can use multiple Payment Gateway platforms for crypto that can auto convert directly to your desired stablecoin or fiat.

Some of the best Crypto Payment gateways today include
- Coinbase Commerce
- BitPay
- NOWPayments
- CoinsPaid
- PayPal

Actually, there are many more, but what is still common, and I know that's all,
About the Flexibility of Bitcoin or crypto can be overcome well using the Payment Gateway Platform for faster, flexible payments and Auto convert to fiat.

[SuperBitMan]

As Entrepreneurs we get into various business transactions. And consideration must be considered. Having the characteristics of money especially paper money, what's stopping you from accepting Bitcoin for your business transactions?

The reason why some business owners are not accepting Bitcoin as a means of exchange is because of how volatile Bitcoin is in nature, Bitcoin price changes every minute and so some business owners are always scared of accepting Bitcoin, and since is for business purpose if Bitcoin falls and you have money in Bitcoin the money will fall too and it will really affect your business.
However the best way to accept Bitcoin in your Business and still don't have problem with Bitcoin volatile nature is by converting any Bitcoin you receive into USDT, but if you are too busy to be converting always then look for exchange that permit automatic convert to USDT so that as soon as your customer send you the Bitcoin and it enters your account it will be automatically converted to USDT and it will be save there you won't have to fear volatility anymore, I saw a post in my local board where a business man is already using this strategy to accept Bitcoin from his customer in other to avoid Bitcoin volatility.

[noormcs5]

As Entrepreneurs we get into various business transactions. And consideration must be considered. Having the characteristics of money especially paper money, what's stopping you from accepting Bitcoin for your business transactions?

I guess the biggest hinderess for the Bitcoin to be used in the place of the fiat currency and for the business transactions is the lack of support by most of the governments around the world.

If the business start accepting crypto and Bitcoin especially in the countries where the crypto legal status is a unknown than the government officials will have all the authority to crack down the businesses and those entrepreneurships and the businessman do not take such risks and they stick to the traditional payment methods.

[justdimin]

The reason why some business owners are not accepting Bitcoin as a means of exchange is because of how volatile Bitcoin is in nature, Bitcoin price changes every minute and so some business owners are always scared of accepting Bitcoin, and since is for business purpose if Bitcoin falls and you have money in Bitcoin the money will fall too and it will really affect your business.
However the best way to accept Bitcoin in your Business and still don't have problem with Bitcoin volatile nature is by converting any Bitcoin you receive into USDT, but if you are too busy to be converting always then look for exchange that permit automatic convert to USDT so that as soon as your customer send you the Bitcoin and it enters your account it will be automatically converted to USDT and it will be save there you won't have to fear volatility anymore, I saw a post in my local board where a business man is already using this strategy to accept Bitcoin from his customer in other to avoid Bitcoin volatility.

That is not really a good reason though. I mean I get not wanting to, that is totally understandable, there are tens of currencies around the world, probably more than a hundred, and yet I would accept only 4 or 5 of them and one of them is bitcoin for me but that still means there are currencies I do not accept.

Volatility is a terrible reason because if you do want to offer that, but only not do that due to fear of volatility, then there are many websites and business' that allows you to cash that out instantly. Sure you are charged for that, but you take bitcoin, and suddenly you have fiat in your account instead. That way the other person gets to pay with bitcoin to you, but you do not have to accept bitcoin as payment.

[leonair]

As Entrepreneurs we get into various business transactions. And consideration must be considered. Having the characteristics of money especially paper money, what's stopping you from accepting Bitcoin for your business transactions?

A businessman always wants to make all his calculations clear. His businessmen never hold their money, they use the money they get from selling products to supply new products. That means businessmen always roll over their own money. Meanwhile, Bitcoin is a volatile currency, so its price can go down or up at any time, and the price of their products is not very high, so they make a very limited profit from each of their single products. And here, if the price of Bitcoin decreases by taking Bitcoin as payment, then they will lose from there. So overall, no businessmen are able to take this risk so far. Again, Bitcoin is still illegal in many countries, so they cannot involve Bitcoin in their business even if they want to. In all, so far the whole world is not able to add Bitcoin to the business as an alternative to cash money.

[Jewan420]

As Entrepreneurs we get into various business transactions. And consideration must be considered. Having the characteristics of money especially paper money, what's stopping you from accepting Bitcoin for your business transactions?

The reason why some business owners are not accepting Bitcoin as a means of exchange is because of how volatile Bitcoin is in nature, Bitcoin price changes every minute and so some business owners are always scared of accepting Bitcoin, and since is for business purpose if Bitcoin falls and you have money in Bitcoin the money will fall too and it will really affect your business.
However the best way to accept Bitcoin in your Business and still don't have problem with Bitcoin volatile nature is by converting any Bitcoin you receive into USDT, but if you are too busy to be converting always then look for exchange that permit automatic convert to USDT so that as soon as your customer send you the Bitcoin and it enters your account it will be automatically converted to USDT and it will be save there you won't have to fear volatility anymore, I saw a post in my local board where a business man is already using this strategy to accept Bitcoin from his customer in other to avoid Bitcoin volatility.

I have already seen a post on how you can accept Bitcoin for business and it has been mentioned step by step. To reduce the volatility of Bitcoin you can use an exchanger to automatically convert it to a stable currency and convert it to fiat. If you want to accept Bitcoin payments for the purpose of holding Bitcoin then forget about the volatility of the market.

You can read this post or browse the entire thread- Bitcoin payments in an online store

[r_victory]

Unless cryptocurrencies become worthless and useless, in my case, nothing will stop me from accepting Bitcoin as payment for my services. It's actually what I receive most, along with stablecoins and other altcoins. Bitcoin payments are part of my daily routine as an entrepreneur. But I know that not all businesses are preparing for this, and it's difficult to have more assertive accounting with cryptocurrencies, as their price can fluctuate rapidly due to their volatility. Thus, the traditional payment method still prevails.

[kawetsriyanto]

The main reason is that Bitcoin is still not accepted or legalized as an alternative means of payment. Some countries still prohibit Bitcoin, some do not have issues with owning Bitcoin, but do not allow its use as a means of payment.

Well, we have the same problem. Here, Bitcoin is also illegal to use as a payment tool. We only can use the Bitcoin as the digital asset (investment). As long as there is no change in this regulation, there is no chance to adopt Bitcoin for our business transactions. If we force to use Bitcoin as payment purpose, we will get in trouble. We possibly go to the jail, or we are ordered to pay for the fine. This also ruins the popularity of Bitcoin if we break the regulation.

If countries legalize the use of Bitcoin for transactions, I am sure that the number of people choosing to use Bitcoin over fiat for their businesses will increase, especially those who are constrained by distance and currency differences.

Exactly. If it happens, there will be massive adoption to use Bitcoin for payment purposes. I think this may happen in the future since more countries become more friendly with Bitcoin. We just need to be patient for now. Just obey the regulation and wait for the change on the policy of our countries! This is the best way to do nowadays.

[SilverCryptoBullet]

Well, we have the same problem. Here, Bitcoin is also illegal to use as a payment tool. We only can use the Bitcoin as the digital asset (investment). As long as there is no change in this regulation, there is no chance to adopt Bitcoin for our business transactions. If we force to use Bitcoin as payment purpose, we will get in trouble. We possibly go to the jail, or we are ordered to pay for the fine. This also ruins the popularity of Bitcoin if we break the regulation

It's legality status of Bitcoin and its use cases in a nation that can be legal, ilegal or alegal.

The magic fact is with Bitcoin blockchain and a non-custodial wallet as well as Tor connection, you can use your bitcoins without engagement and need of approval from any centralized entity. Government even don't know what you do too but surely if Bitcoin and a use case are illegal in your nation, you must learn more, become more knowledgeable about Bitcoin blockchain, wallets, and how to practice with UTXOs, in order to make sure that your practice will not lead you to big legal troubles.

[SilentEcho]

Bitcoin surely has the qualities of money, but businesses hesitate mainly due to volatility, legal uncertainty, and high fees during congestion. Still, many use it as an optional payment method. With wider adoption and better technology, it could become much more practical in daily business.

[hyudien]

It's legality status of Bitcoin and its use cases in a nation that can be legal, ilegal or alegal.

The magic fact is with Bitcoin blockchain and a non-custodial wallet as well as Tor connection, you can use your bitcoins without engagement and need of approval from any centralized entity. Government even don't know what you do too but surely if Bitcoin and a use case are illegal in your nation, you must learn more, become more knowledgeable about Bitcoin blockchain, wallets, and how to practice with UTXOs, in order to make sure that your practice will not lead you to big legal troubles.

This is about regulations for businesses and entrepreneurs. Yes I know that in countries that prohibit Bitcoin use, they (Bitcoin users) can still receive and send Bitcoin. However for businesses and companies, they will be monitored by the government. If the local government does not allow the use of Bitcoin as legal tender for their business, they must comply. Violations can result in sanctions or even bankruptcy, as the government is ruthless.
The bottom line is regulation.

[Jubilee58]

The reason why people or entrepreneurs are not accepting bitcoin in their business transaction is because, bitcoin has not been approved as a legal tender, if one particular person accept bitcoin, other people might not accept it.Besides not every business person knows about bitcoin and how it works, you can not accept what you don't have the knowledge on how it works.Furthermore , people who will accept bitcoin for their daily transaction should accept it as a store of value , otherwise because of bitcoin volatility, an entrepreneur or a business man who accept bitcoin for daily transaction may end up loosing some money within a short period of time because of it's volatility.

[cryptomaniac_xxx]

Unless cryptocurrencies become worthless and useless, in my case, nothing will stop me from accepting Bitcoin as payment for my services. It's actually what I receive most, along with stablecoins and other altcoins. Bitcoin payments are part of my daily routine as an entrepreneur. But I know that not all businesses are preparing for this, and it's difficult to have more assertive accounting with cryptocurrencies, as their price can fluctuate rapidly due to their volatility. Thus, the traditional payment method still prevails.

Good for you if you are going to accept it, but as you have said, there are more reasons not to accept, even if you know Bitcoin in general, as a business owner at some point you will have to sell your Bitcoin.

But what if that time, Bitcoin goes down, so you lose the profit in their business already. Maybe as the POS you might want to convert it to local fiat to make it a sound money and not hold enough, it might be really fine for your business. But the risk is still there that it might go up and down, thus it might not be good for business owners in the long run, just saying.

[BitBakerr1]

The reason why people or entrepreneurs are not accepting bitcoin in their business transaction is because, bitcoin has not been approved as a legal tender, if one particular person accept bitcoin, other people might not accept it.Besides not every business person knows about bitcoin and how it works, you can not accept what you don't have the knowledge on how it works.Furthermore , people who will accept bitcoin for their daily transaction should accept it as a store of value , otherwise because of bitcoin volatility, an entrepreneur or a business man who accept bitcoin for daily transaction may end up loosing some money within a short period of time because of it's volatility.

Jubilee58 you are correct, a lot of countries has not approved Bitcoin as a legal tender and so because of that accepting Bitcoin in your business becomes very difficult some countries have not even accepted bitcoin so even accepting Bitcoin in some country is illegal, countries that accepting Bitcoin in their business will be easy is those countries that are already accepting bitcoin as a legal tender, and again volatile nature of Bitcoin will always make it difficult for business owners to accept Bitcoin as a means of exchange.
Jubilee58 you are correct that business owner that wants to accept Bitcoin if should accept it as a store of value not for running day to day business and transaction because if they don't they will end up losing money and there business we collapse because bitcoin is highly volatile.

[macson]

As Entrepreneurs we get into various business transactions. And consideration must be considered. Having the characteristics of money especially paper money, what's stopping you from accepting Bitcoin for your business transactions?

Regulations prevent many businesses from accepting Bitcoin. Governments restrict merchants from accepting Bitcoin, encouraging people to use only paper money or e-wallets for their transactions.

This is why more businesses don't accept Bitcoin due to overly strict regulations, which restrict their ability to freely choose their payment options. If Bitcoin were allowed, I think many businesses would try to accept it.

[OcTradism]

Regulations prevent many businesses from accepting Bitcoin. Governments restrict merchants from accepting Bitcoin, encouraging people to use only paper money or e-wallets for their transactions.

This is why more businesses don't accept Bitcoin due to overly strict regulations, which restrict their ability to freely choose their payment options. If Bitcoin were allowed, I think many businesses would try to accept it.

Regulations have changed from ignoring Bitcoin and ecosystem around it, considering it as illegal to alegal or legal, to better legality status and adoption on Bitcoin but together with this legal acceptance growth, there are more and stricter regulations.

It allows more business to accept Bitcoin legally and brings more people to Bitcoin ecosystem, and honestly, I don't think regulations are too bad for Bitcoin adoption. There is side effect as with more and stricter regulations, KYC is applied on more platforms but if you understand about Bitcoin blockchain, how to use UTXOs for inputs and outputs of your transactions, and basics of privacy, you can still achieve good privacy and anonymity.

Bitcoin privacy resources.
Bitcoin privacy guides.

[Marvell1]

This is about regulations for businesses and entrepreneurs. Yes I know that in countries that prohibit Bitcoin use, they (Bitcoin users) can still receive and send Bitcoin. However for businesses and companies, they will be monitored by the government. If the local government does not allow the use of Bitcoin as legal tender for their business, they must comply. Violations can result in sanctions or even bankruptcy, as the government is ruthless.
The bottom line is regulation.

Regulation can be considered as the biggest barrier preventing businesses from accepting bitcoin as they need to strictly comply with government regulations. But that's not the only hurdle businesses face, there are other challenges like volatility, not many customers use bitcoin for payments. That is why many countries have allowed the use of bitcoin as a means of payment, but many businesses still do not accept bitcoin.

Although bitcoin is not legal tender, it can be used as a means of payment in Australia, Canada, Slovenia and many other countries. But according to many surveys, not many businesses accept bitcoin yet.

https://nowpayments.io/blog/countries-that-accept-bitcoin-as-a-payment