Payment method

[Chronos_angel]

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?

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.

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[Aleksabit]

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.

[Dean Collins]

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

[phelbaby]

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

[131tc01n]

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?

[leetcoiner]

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?

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.

[mekie]

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.   

[Qurelal]

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.

[1] https://bitpay.com/

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

[Qurelal]

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.

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.

[Qurelal]

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.

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.

[Qurelal]

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.

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

[Qurelal]

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?

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

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

[Qurelal]

but I’am afraid not in my country yet.

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.

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

[Qurelal]

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?

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.

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

[Qurelal]

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.   

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.

[Starkick]

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.

[Sethrey]

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!

[safarabela]

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.

[beliomir]

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

[sidodadii]

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