Should I accept Bitcoin for payments on my online store?

[S_crypto]

I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.

Is this a good idea? Are there any risks (other than the volatility)?

Is anyone really going to use this?

I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.

Thoughts?

Thanks in advance

[BlackHatCoiner]

The more payment methods, the better. Although, I don't think that anyone is going to buy with bitcoin currently. You realize that he/she has to pay product's price + ~$7 in order to get the transaction quickly confirmed. If the fee was much lower I would suggest adding it.

[bL4nkcode]

Are there any risks (other than the volatility)?

You said it right, every business that start accepting bitcoin payment faced this kind of, say, concern.

anyone really going to use this?

Well, know your customer and your country if you know lots of people using bitcoin on your country, then why not give it a try, but of course, don't just bitcoin, give your customers other options for payment.

[Darkelf11]

I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.

Is this a good idea? Are there any risks (other than the volatility)?

Is anyone really going to use this?

I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.

Thoughts?

Thanks in advance

It is much better if you will not focus only on bitcoin as type of payment . Let your customers be free to choose what type of payment they want to have. It is a good idea to add bitcoin in your options but ofcourse you should study the positive and negative side of it. Don't accept bitcoin as a payment if you do not have enough knowledge when it comes to this because you might lose everything you built in just one mistake.

[milewilda]

I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.

Is this a good idea? Are there any risks (other than the volatility)?

Is anyone really going to use this?

I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.

Thoughts?

Thanks in advance

Putting up crypto should really be just an option aside on using up your main payment which is on fiat so that you wont able to miss out to those people who do tend to buy in using fiat
because if you do make up some transition fully with crypto and people doesnt really have idea on what it is then you would surely miss out on some sales because they dont have any options.
So better stick with two just in case because not all of your customers would really be knowledgeable about bitcoin or crypto payments.Is your online store is just focused on local sales
or international ones?

[S_crypto]

The more payment methods, the better. Although, I don't think that anyone is going to buy with bitcoin currently. You realize that he/she has to pay product's price + ~$7 in order to get the transaction quickly confirmed. If the fee was much lower I would suggest adding it.

Sure, the transaction fees are quite high right now... but my products are selling for about 100-150$ so it may even work.

[Oshosondy]

Using good cryptocurrencies like bitcoin, ether and litecoin will be good, but what you will have to do it to use algorithm that will make the price correct in fiat but fluctuating in crypto prices, it is a nice idea. It is just an alternative to fiat payment, you can try it for a while to see if customers will make use of the payment method before you will concur if to use it or not. About the volatility, I will advice you to look into analyzes very well. But, I do know that bitcoin is a good example of delfationary cryptocurrency and can be used.

[S_crypto]

Are there any risks (other than the volatility)?

You said it right, every business that start accepting bitcoin payment faced this kind of, say, concern.

anyone really going to use this?

Well, know your customer and your country if you know lots of people using bitcoin on your country, then why not give it a try, bit of course, don't just bitcoin for payment, give your customers options for payment.

Of course the main payment system will still be with fiat, eventually, bitcoin and cryptos would be an alternative option.
The store is more focused on local sales in the UK for now... as far as I know, cryptos are quite popular here.

I like the idea of being able to get some cryptos (not everything) instead of fiat as payment... it would save me some time instead of having to buy from the exchanges

The one of my main concerns is: how safe is it to accept cryptos as payment on a website?  

[skarais]

Volatility is one of the thing that most often thwarts people's intention to accept bitcoin as a mean of payment (perhap out of fear). But you shouldn't be afraid to do it because I think you can sell bitcoins as soon as you receive them. Use your bitcoin deposit address on exchange to accept bitcoin and this method can also be used as a way to exempt you from transaction fee and confirm them with the buyer as soon as you receive them. I think you can customize it so that the good you sell and the money you receive are what you want.

I don't think there's a bigger risk than volatility, but the security of your account or wallet should always be a priority. Give it a try, you might like it after a while but still comply with the rule that apply in your country regarding government regulation regarding bitcoin and other crypto.

The one of my main concerns is: how safe is it to accept cryptos as payment on a website? 

I think this method will be safe only if you can properly practice the security of your wallet and aseet.

[jrrsparkles]

The more payment methods, the better. Although, I don't think that anyone is going to buy with bitcoin currently. You realize that he/she has to pay product's price + ~$7 in order to get the transaction quickly confirmed. If the fee was much lower I would suggest adding it.

Sure, the transaction fees are quite high right now... but my products are selling for about 100-150$ so it may even work.

You said online store right then I don't think the fees are big burden for you now because you can wait until the payment reaches enough confirmation even the transaction can be done with moderate fee to avoid extra expenses for your customer.

[cabron]

The more payment methods, the better. Although, I don't think that anyone is going to buy with bitcoin currently. You realize that he/she has to pay product's price + ~$7 in order to get the transaction quickly confirmed. If the fee was much lower I would suggest adding it.

Sure, the transaction fees are quite high right now... but my products are selling for about 100-150$ so it may even work.

Regardless of the price, if your product is worth buying. People buy.

The risk is there but it would just be minimal when you learn to convert your BTC to stablecoin in a timely manner. You wouldn't completely forget about fiat anyway, you still will be accepting fiat. The risk will be worth when the price of BTC also is rising. It's an exciting time for someone and merchants to accept crypto because its about to bull.  

[Twentyonepaylots]

Adding crypto payments would be complex for your online store, and you must consult from your customer first before adding a cost in constructing your online store with crypto integration, if your customers are demanding for such method of payment then you should go for it. But then again the risk is high since the number one factor of having these cryptos is the volatility especially with bitcoin and ethereum, I doubt people would look for another crypto besides these two 

[Tamim121]

If your sell increase or more people want to pay Bitcoin after shopping then accept Bitcoin for payment on your online store. Bitcoin is a volatile coin, If you think that or hesitate that if Bitcoin price decrease then you have much loss then you can exchange Bitcoin to stable coin. For exchange i will suggest you binance.

[Kez1817]

I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.

Is this a good idea? Are there any risks (other than the volatility)?

Is anyone really going to use this?

I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.

Thoughts?

Thanks in advance

I think that is a good start and idea to accept bitcoin as payment method in your store but of course more choices of payment method the better. But always put on your mind that accepting bitcoin as payment in your store is full of risk because you already know that bitcoin is volatile. Still, it's up to you if you will take risk and help bitcoin to spread in your community.

[shield132]

I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.

Is this a good idea? Are there any risks (other than the volatility)?

Is anyone really going to use this?

I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.

Thoughts?

Thanks in advance

Is it a good idea to add payment gateway on the online store? Yes. The more options - the better for customers because they love diversity when it comes to payments, that's why we have a lot of providers including PayPal, skrill, Netteller and others.
When it comes to task whether adding of bitcoin payments may benefit your online store or not, first of all, it comes to researches and data analyze. What is your niche? Do you have opponents that offer crypto payments? What is your audience? Where are they from? How popular is Bitcoin in their countries? Maybe there isn't any useful data and you have to just be the first one who will do that. In any case, you won't lose anything by adding it.

[Kupid002]

The problem that you can also considered is the transaction fee . What wallet you are plan to use for accepting crypto payments custodial wallet or a wallet that you own the keys,?

Don't forget that you need to always paid for the fees Everytime you will send transaction. so for example you want to exchange it to other currency you need to pay for fee the day you want  it to transfer to exchange or other wallet. plus  widrawal fee for the  exchange if you want it to widraw direct  to your bank account .

[GeorgeJohn]

It's advisable and also encouraging to purchase any goods with cryptocurrency both  bitcoin and altcoins because bitcoin is a currency and it can be use to purchase and importation of different kinds of goods if the store or management of a company accepts transactions with cryptocurrency, and the transaction shall processe without delay or disappointment via transactions, from my perspective the correct answer to these question is yes, because bitcoin has as a currency has dominates half of the countries so therefore it's preferable currently to accept or value cryptocurrency more than fiat currency because of its values in society.

[adzino]

I'm considering to possibly add Bitcoin and other altcoins as a way to pay for goods purchased on my online store.

Is this a good idea? Are there any risks (other than the volatility)?

Is anyone really going to use this?

I'm afraid that my customers may not be much into cryptos, but I guess that it's hard to tell until you try ...
I also have some doubts on the technical side.

Thoughts?

Thanks in advance

Do YOU want to receive bitcoin and other crypto currencies? Or do you want to receive fiat currency but allow users to pay in crypto currencies? If it is the former, then yeah go ahead. I don't think there is any risks involved as long as you set up everything (the wallets, protocol and other stuffs) properly. But make sure each transaction gets enough network confirmation.
If it is the latter, then you can use third party payment gateways. They will accept bitcoin from users and you will receive fiat currency. The fee is reasonable and as far as I know, there is no risks involved and easy to set up.

[Leviathan.007]

The more payment methods you add, more clients you get and more products you sell, that's obvious. Regarding bitcoin you should also the transaction fee and how much is the average price of your good, if you are selling cheap products less than 10$ this can't be a good idea because the current transaction fee for bitcoin is ~7$ which is way too much comparing the 10$ for product price. But in the other hand, many people can't use paypal or credit card because of the sanctions or some other reason, but since bitcoin is border-less, you can add this payment method for them and sell more products.

[death69]

There is only 1 thing I consider as a threat to your online store: The government's regulations. Does your government accept bitcoin? If so, you can easily create new payment gate for bitcoin. Following the law is very important. The police do not like people when they break the laws and avoid paying tax while using cryptocurrencies. So be careful.

I really appreciate what you are doing to support bitcoin. Adding bitcoin to your online store surely raise people awareness of the blockchain technology. Moreover, you never know who are bitcoin enthusiasts until you see them by yourself. And opening online store will help you point out many of them

One more thing I want to add on the conclusion. At the moment, bitcoin blockchain is being congested by a huge number of transactions everyday. Therefore, people have to pay a higher fee so as to move their transaction with the normal speed. If not, the transaction might be stuck for many days. Think about this too because it will affect your business