Pet shop want to become a bitcoin exchange?

[Accountsell]

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.

Pet shop ad bitcoin exchange would have no actual connection.
You can try to sign up on some payment gateways like coinspayment, coinmama, etc and start accepting local payments by generating invoices.
Creating a exchange is not really a easy task and you would need a lot of money to make it start and regulate.

[Mumbeeptind1963]

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.

The only thing that will be a problem is the price of bitcoin that it is always unstable or its volatility, better to have a list of price in USD then you will show the daily rates in your shop, just like what they are doing in some gasoline stations, so that your clients will be updated and will not ask any questions, also it is okay if you will put some of your products online so that you will reach more people outside of your vicinity.

[Reatim]

well I dont think using bitcoin as payment method at your pet shop is great idea. it wont give you much benefit since price of bitcoin is still very uncertain and you have to wait for hours to get it confirmed.

what?don't you know that it is more advantage to received Bitcoin as payments now?because this is 2020 and the Bitcoin halving is near to happen again?

and besides OP is not asking on how he can accept Crypto as payment instead he is looking to create his own exchange things that i think very hard to try specially if you have no Big knowledge about how this works and run.

[Wintersoldier]

Incorporating bitcoin to different stores especially those that we personally own is one of the great ideas we could possibly implement, but the problem is that, are the customers willing to wait for the transactions to be processed? Or else, I like the first idea you have which is to first connect your store to local exchange, because basically, having the same exchange will make your transaction even faster to be confirmed. Though, you need to think deeply about the regulations that you need to follow for this to happen.

[virasog]

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

What is doge coin?

You can get more information about dogecoin here.
https://coinmarketcap.com/currencies/dogecoin/
And you should include in it as an option along with bitcoins.

[Asuspawer09]

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.

Some how it was a good idea but we all know that it is very risky and in my personal opinion this is not going to work most of the time because in a business if your going to make the payment in a cryptocurrency like a exchanger I think it is going to need a lot of capital and also you need to accept different token or Altcoins in the market which is a bit risky for a lot of people because the market is also having its movement, if you need money for your business you cannot easily sell they Altcoins.

[xiboothrezi]

Some how it was a good idea but we all know that it is very risky and in my personal opinion this is not going to work most of the time because in a business if your going to make the payment in a cryptocurrency like a exchanger I think it is going to need a lot of capital and also you need to accept different token or Altcoins in the market which is a bit risky for a lot of people because the market is also having its movement, if you need money for your business you cannot easily sell they Altcoins.

That's right, it's risky especially stable prices, and the OP has already talked about it. Fluctuating prices can be overcome by using stable coins such as USDT to provide a constant price from existing services. However, this goes back to the objectives of the OP, if you want to pay using BTC or ETH or another altcoin, you can make a price benchmark with fiat and then confirm it with the cryptocurrency price right then. Whether it goes up or down after that is the risk, and it can be considered as investment or savings.

[pixie85]

You can do anything if you really want to and have some money and dedication OP. A Magic the Gathering card exchange became Bitcoin exchange one time

Of course it's not going to be easy now because there's a lot of them to compete with. Maybe first become a physical exchange like fiat exchanges. People will bring you cash and you will trade them Bitcoin and other coins.

[Rawbsoup]

Yes this is exactLay what I literally just thought of. I was gonna create a new post. Could I offer to sell bitcoin for cash?

How would it work in laymen’s terms? What cut would I make?

[HarmonyA]

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.

What decides bitcoin's cost? The cost of a bitcoin is dictated by market interest. At the point when interest for bitcoins builds, the cost increments, and when request falls, the value falls.

The all out Bitcoin advertise is still moderately little when contrasted with different ventures. It doesn't take noteworthy measures of cash to move the market cost up or down, along these lines the cost of a Bitcoin is still to some degree unstable.

[hahay]

I think it does not matter as long as you do not violate the rules that might have been applied in your country, because what must be considered in this case is about the legality of crypto in your own country, if there is no problem about this then of course making your store as a place to exchange crypto with fiat is a good idea because anyone who has crypto there will immediately cash it directly in your shop.

[Initscri]

Any business that accepts Bitcoin will automatically receive some hype just due to the fact you accept Bitcoin. Expect to be placed on map sites, which in turn will drive some traffic.

As to how much traffic, that really depends on your area. Some niches may derive more traffic from the use of Bitcoin (such as tech stores, etc) than other (for example, your pet store).

Honestly, you got nothing to lose though. It's worth a shot.

As for turning into an exchange, I'm not entirely sure how you'd approach that. Are you talking about physically creating an exchange. As in you'll buy/sell bitcoin face-to-face w/ users?

[Assface16678]

As one of the growing payments, today is the use of cryptocurrency, and no law tells they are; there are no restrictions about paying of bitcoin instead of fiat currency. Also, it is an excellent adaptation for making the payment if bitcoin because today there are a lot of people, for now, is using the bitcoin ad payment in other countries, and also they made atm and banks that support the withdrawal of bitcoin to them. If you think most of the customer you have has a cryptocurrency and you want to make payment for bitcoin, it is suitable also it is less hassle because you are sending the address without trouble in the queue and both of your time becomes more productive.

[bryant.coleman]

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.

First check whether the usage of cryptocurrency as a payment is allowed in your country. If there are no legal issues, then you can accept Bitcoin or any other cryptocurrency as a payment - either directly, or using a payment processor (such as Bitpay or BIPS). I would advise you to go for a payment processor. Because it will immediately convert your crypto to fiat currency, and you no longer have to worry about the volatility (BTC can go up or down by as much as 10% in a single day, and this is a major issue while accepting payments with crypto).

[julius caesar]

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 think it is better if you separate those two. You know why? The income in bitcoin si huge if you only know how to play around with it. Stick with your pet shop business and do the trading also in bitcoin. Play around the money that you have. But if you really want to pursue it, you better try to check if that is legal in your country. Some of other countries out there does not allow the bitcoin transaction in their government.

[ntsdm1]

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.

A good solution,but the problem is that when accepting bitcoins for payment, how will You report to the tax service?Living in India, you understand that in this case you can get under some kind of ban and in the end You can be arrested.As far as I know, there is a very large number of bitcoin ATMs in America.I think there will be no problems with paying with bitcoins for goods and services.Therefore, you better find a store that already accepts bitcoins and personally find out from the owner how he organized everything.This is still illegal in my country.

[NavI_027]

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

You aren't serious about this, are you? There are less people around who have a dogecoin wallet than a bitcoin wallet and using a lesser known altcoin as the only payment method will turn away potential customers.

Why choosing only one where in the first place you can use both . Accepting Dogecoin doesn't necessarily mean you are having lesser chance of getting customers. He can use the logo Doge (not literally copy-paste it because of copyright issues but use it as an inspiration) for it brings charm and appeal for the customers bit mainly use bitcoin as a form of crypto payment. What dou you think? That's a better idea, isn't it. What I just hope is that OP is willing to hold doge and know the risks of crypto investing. Because if he will only do all this things just for the sake of having a unique pet shop then he might loss in the long run .

[elenag1142]

From what I comprehend, you would like to open en trade and you would like to acknowledge cryptographic money for this example is bitcoin as an installment. i feel doge-coin is fit since it's kind of sort of a pet things and it's less costly charge contrasting with bitcoin,for your data bitcoin features a higher charge particularly for small exchange, individuals got to pay higher charge so on get quicker affirmation.

[yazher]

Seriously man if you do so, you are the first one to accept bitcoin as a means of payment to their Pet shop. I never heard anything like this. mostly I heard stores that are accepting Bitcoins are restaurants and other beverages stores. I never heard of Pet shop accepting bitcoin, If you implement it, then you will become the first one to do it in the world.

[xxxgbxxx]

I was reading about becoming a bitcoin exchange ... is this possible? I understand it’s worth goes up and down.

 buy BTC ATM and install it on your petshop

https://www.generalbytes.com/en/