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Author Topic: Bitcoin as payment option for clients  (Read 195 times)
serjent05
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December 14, 2023, 11:43:25 PM
 #21

Op this a good idea of accepting Bitcoin as a payment option in your  business but you have to consider the transaction fee before accepting Bitcoin in your business. When the transaction fee is high who is going to pay for the fee? Is it you or the client or the customers? No, definitely the customers or the client will not pay for the high fee and from your end you can't or will not pay for it therefore before accepting Bitcoin you have to do your home work very well so that when you start then there will be no complain.

It is the client who will pay for the transaction fee because they are the one sending the transaction.  If @OP wanted to shoulder, he can reimburse it to the client but that is another expense for the supplier and a huge waste of profit for them.  This can be fixed by using an app and doing internal transfers.  But obviously, this goes against having a non-custodial wallet thingy.  @OP can just put Bitcoin on the option for payment and add other options so that clients can have choices.

I believe accepting Bitcoin as a mode of payment in high transaction fee events will not be a problem if @OP adds more cryptocurrency to the payment options.  This way @OP's business will not be disrupted because of the Bitcoin transaction fee surge.


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December 15, 2023, 08:14:53 AM
 #22

It is the client who will pay for the transaction fee because they are the one sending the transaction.  If @OP wanted to shoulder, he can reimburse it to the client but that is another expense for the supplier and a huge waste of profit for them.  This can be fixed by using an app and doing internal transfers.  But obviously, this goes against having a non-custodial wallet thingy.  @OP can just put Bitcoin on the option for payment and add other options so that clients can have choices.

I believe accepting Bitcoin as a mode of payment in high transaction fee events will not be a problem if @OP adds more cryptocurrency to the payment options.  This way @OP's business will not be disrupted because of the Bitcoin transaction fee surge.

IMO, it doesn't need to be too complicated. If it's just a payment option, as long as it's convenient for both the customer and the service provider. And if the agreement is accepted, the process continues as you mentioned, but the problem is the scale of the value of the products paid here and the balance between them, because we all see the problems Bitcoin's own in terms of transactions.

Although I also highly encourage the use of bitcoin in many different areas of life, the core commitment in life should still be maintained at a balanced level, not too skewed towards personal views. And perhaps from the previous suggestions, OP will also be able to choose a specific method and decision.









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December 15, 2023, 08:30:19 AM
 #23

I believe it's not going to work by accepting Bitcoin as a payment option when the clients have many options to choose stablecoins that run in centralized network, they doesn't have to worry about the volatility and they only need pay for few cents to send their coins.

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December 15, 2023, 02:43:17 PM
 #24

1. How can the transaction process be optimized for maximum security?
2. What metrics are available for measuring transactions?
3. Which wallet is the best to safeguard my funds and ward off con artists and hackers?
Safeguarding you seed phrase to your wallet could be one best way of optimizing security on your wallet and making sure you don't link anything you are not sure of to your wallet. You can use the Dollar costing to measure your transactions as Bitcoin can also be sent to you in their dollar equivalent, depending on how much money you are been paid, it's equivalent in Bitcoin units could as well be sent to you. For investment purpose cold storage which is mostly offline is usually the best but since you will be accepting payment often in Bitcoin an online wallet which you alone has access to its phrase will be fine then you can later transfer to your offline wallet.

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December 16, 2023, 06:31:59 PM
 #25

I believe it's not going to work by accepting Bitcoin as a payment option when the clients have many options to choose stablecoins that run in centralized network, they doesn't have to worry about the volatility and they only need pay for few cents to send their coins.
For us to benefit from Bitcoin, there are many things we can do to make money from the market. We can decide to invest in Bitcoin, trade or do other things that will trigger us to make profits from the market. Using Bitcoin as a payment option is a good one but looking at the transaction fee these days, it a bit higher and we persons would not want to pay such a exorbitant fee just to transact small amount of Bitcoin. There should be a need for other options too so that anyone that do not have Bitcoin can use other options.









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