How to accept bitcoin / altcoins in my busines

[DwarfLord]

Hi,

I am starting a business in canada and I would like to know the best way to accept bitcoins ?

I need to think about the receipt and taxes declaration etc etc ..

so I want all my process to be legit and I need some info about that

I am also looking for a good lawer and accounting person specialized in crypto regulations


Please let me know


DL

[1714894572]

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[1714894572]

1714894572

[1714894572]

1714894572

[1714894572]

1714894572

[1714894572]

1714894572

[AdolfinWolf]

Hi,

I am starting a business in canada and I would like to know the best way to accept bitcoins ?

I need to think about the receipt and taxes declaration etc etc ..

so I want all my process to be legit and I need some info about that

I am also looking for a good lawer and accounting person specialized in crypto regulations


Please let me know


DL

Honestly, you really shouldn't take any legal advise from this forum.
If you're offering goods or you need  automatic payments for your business, i would recommend Bitpay.com , https://bitpay.com/

Bitpay is the best way to receive bitcoin from customers online in my opinion. I use it all the time myself aswell, without any issues.

As to how legal all of this is in Canada, I have no idea.

[Xexen4]

some merchant services good like bitpay.com but the point is how you can legalise this. you also write a commerical invoice too right?

[gallery2000]

you are trading one commodity for another so you are not really selling your merchandise.  I am not sure how you are going to report the sales on your tax.

[DwarfLord]

As long as I can generate invoice taxes included and then I have an history or some sort of proof and security for me and my client then its perfect.


I saw some place where I can do a Request for payments  but I never tried it ..

Just having more and more demands about payments using bitcoins and I really have to look into this..

I am really having an hard time to find lawyers or any financial advisers knowledgeable about digital currencies ..  but one thing is sure tho .... they are all ready to make me pay for their learning ... lol


DL

[PokerDiceMan]

Hi,

I am starting a business in canada and I would like to know the best way to accept bitcoins ?

I need to think about the receipt and taxes declaration etc etc ..

so I want all my process to be legit and I need some info about that

I am also looking for a good lawer and accounting person specialized in crypto regulations


Please let me know


DL

if you country canda bitcoin not ready regulate youre business without taxes
maybe only return youre company after convert to fiat money can pay taxes

you can follow big company, sample namehceap , netteller and more in there accepted bitcoin but still can pay taxes

[maliboom]

Hi,

I am starting a business in canada and I would like to know the best way to accept bitcoins ?

I need to think about the receipt and taxes declaration etc etc ..

so I want all my process to be legit and I need some info about that

I am also looking for a good lawer and accounting person specialized in crypto regulations


Please let me know


DL

Honestly, you really shouldn't take any legal advise from this forum.
If you're offering goods or you need  automatic payments for your business, i would recommend Bitpay.com , https://bitpay.com/

Bitpay is the best way to receive bitcoin from customers online in my opinion. I use it all the time myself aswell, without any issues.

As to how legal all of this is in Canada, I have no idea.

but only bitcoin?
How can accept other altcoin ?

[DwarfLord]

Yes of course , I have no issue paying taxes..
accepting currencies for me is just another payment method

for sure I want to be fully transparent to not get in trouble with the business ... cause you know the if the government is against you then you are screwed...

I still have to investigate about it ... and yes I am looking to get example from other companies that already using it ...

I think paypal is talking about accepting btc soon as well right?

if that so then just accepting paypal on my site will solve this headache !



DL

[cryptoking710]

I have an online store selling t shirts and clothing and I accept bitcoin as payment via shopify and coinbase.

Works well and I can leave my bitcoin in coinbase or cash them out.

[cleygaux]

I have an online store selling t shirts and clothing and I accept bitcoin as payment via shopify and coinbase.

Works well and I can leave my bitcoin in coinbase or cash them out.

I vouch for using coinbase for your business they will definitely help you integrate bitcoin payments in your store Im not just sure if they also accept eth as of now for online payments. 

[ChrisPop]

Hi,

I am starting a business in canada and I would like to know the best way to accept bitcoins ?

I need to think about the receipt and taxes declaration etc etc ..

so I want all my process to be legit and I need some info about that

I am also looking for a good lawer and accounting person specialized in crypto regulations


Please let me know


DL

If I remmber good CoinPayments has merchant api integration. And for bitcoins I think bitpay is a good option.

[DwarfLord]

Yes I think coinpayment kind of guaranty the transfer right?

I know there is some other bridges like payeer or payza where you can use btc and then they validate the transfer and give a receipt to the client..

also I know that payza have a validation process for business so it may be some good start...

hahah there is so much to do when we start a business !!

thanks everyone for all your input.


DL

........................

[cenicsoft]

The BannerCoin project (ICO information here - BannerCoin.com ) was designed to allow website merchants to accept both traditional and cryptocurrency payments via their website. The system tracks the price of the coin at the time of purchase so you have a cost basis recorded at the time of received payment. This will make it much easier to know the value of each coin you received when you go to sell it and can account for the increase or decrease in value for capital gains purposes.

In addition, unlike most so-called cryptocurrency payment acceptance platforms, the BannerCoin project is geared at assisting with post payment processing. For example, if you are running an online store selling physical goods, then you'd use the ecommerce system called BannerMerchant (BannerMerchant.com) to handle order tracking, inventory management, etc.

Most payment apps are standalone meaning they don't directly integrate with backend post transaction processing systems, don't provide good historical transactional data and don't make it so you own the customer. When you use third party payment processing systems, the third party gets to maintain a relationship with the customer. Under this model, the customer never shares information with a third party and you own the full customer engagement cycle.

[GrowingCoins]

If you can't accept the crypto yourself maybe you should try using bitpay.

[ALWASA]

Hi,

I am starting a business in canada and I would like to know the best way to accept bitcoins ?

I need to think about the receipt and taxes declaration etc etc ..

so I want all my process to be legit and I need some info about that

I am also looking for a good lawer and accounting person specialized in crypto regulations


Please let me know


DL

Honestly, you really shouldn't take any legal advise from this forum.
If you're offering goods or you need  automatic payments for your business, i would recommend Bitpay.com , https://bitpay.com/

Bitpay is the best way to receive bitcoin from customers online in my opinion. I use it all the time myself aswell, without any issues.

As to how legal all of this is in Canada, I have no idea.

Ues because well never know if some will just take advantage of you. But Im hoping that in your country it is legit.

[AlexaSonda]

I guess you just have to make a wallet alt what you will use later and account exchanger where you will sell the alt you get.

[DwarfLord]

Yes,  I will need an alt wallet and I guess I will have to pull out reports to give to accounting...

Hahah I think It will be a headache for some people in the business

I hope they will figure that out fast because It can become a real mess in accounting and taxes reports.


Also do you guys know about how can I pay my clients in batch with bitcoins ?  Like one transaction to send everything to each of them.



DL

thanks

[Xypherian]

Check out into CoinPayments, their implementations are pretty easy to use and you can accept ETH DASH XMR along with other cryptos. Recommended 100%

[onlybest]

2checkout.com