Pet shop want to become a bitcoin exchange?

[Rawbsoup]

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.

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[ice098]

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.

[watergold]

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.

[shark1006]

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.

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

[joniboini]

I understand it’s worth goes up and down.

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.

[xvids]

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.

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.

[JohnBitCo]

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.

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.

[Jet Cash]

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

[Easteregg69]

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

[Rawbsoup]

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

[abdobe]

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.

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

[DabsPoorVersion]

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.

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?

[Jating]

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.

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.

[virasog]

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

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

[BrewMaster]

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.

[Rawbsoup]

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

What is doge coin?

[btccashacc]

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.

[Diirtmaan]

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

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

[ChrisPop]

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.

[Rawbsoup]

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