Should I accept Bitcoin for payments on my online store?

[Xxmodded]

I think it is better for you to know your customers first. Also, if you offer payment into bitcoin or any other crypto currencies, it is possible that your customers would be asking for other available cryptos that you might accept. It would be a great idea since you will be able to tell how much people know what bitcoin and crypto and uses them in your place. It might also attract other people that aren't your normal customers if you do that.

Should know with costumer background are they bitcoin trader or usually people like shop and do not know with bitcoin, have to check what their background and you have make questionnaire with your costumer how their respond when adopting bitcoin as currency payment in your online store. Costumer respond is most important to know adopt bitcoin or not, when you costumer is not needed with bitcoin I think better you use only fiat for payment transaction, Don't force consumers to keep using bitcoin currency if they are not familiar with bitcoin, it will give your online store a very bad reputation.

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[bryant.coleman]

If the OP is planning to invest in Bitcoins, then this is a good idea. He can set up a Bitcoin wallet and receive small amounts of BTC as payment to this wallet. Within a few months, hopefully he will be able to accumulate a good number of coins. But in case he is planning to immediately convert the BTC to fiat currency, then I would say that this is a bad idea. The exchange rates are volatile, and a lot of paperwork needs to be done.

[Ratash]

I think its a good idea because in my country it is difficult to obtain a paypal account and to purchase online sales with it so its more convenient for me to buy things with bitcoin and other cryptos and there are more countries with the same problem so i am sure you will attract more people.

[gamer4156]

Leave your clients alone allowed to pick what kind of installment they need to have. It is a smart thought to add bitcoin in your choices obviously you should consider the positive and negative side of it. I will exhortation you to investigate dissects quite well. However, I do realize that bitcoin is a genuine case of deflationary cryptographic money and can be utilized.

[mindrust]

I think its better for you to receive a bitcoin payment knowing that it is good also to invest it especially now that it is the season of crypto as of the moment and all of it is in their good condition most especially bitcoin. It is a win-win situation for you if they will pay you in terms of btc.

IMHO paying with Bitcoin might be risky than other stablecoins around this industry, yes, the price of Bitcoin shoot of recent but that doesn't make it to continue becasue anything can happen that will make the market price dwindle. So, i will encourage OP to start with notable stablecoins before adding the likes of Bitcoin and Ethereum due to their market volatility.

There won't be any problems as long as you cash out your profits as soon as you get from your customers. Bitcoin and Eth carry the volatility risk but stable coins on the other hand are not completely legal&secure and the US can crack down on them any time.

Don't leave yourself empty handed while running away from the volatility.

These stuff happen when you least expect it just like the exchange hacks.

[CODE200]

Yes of course if you want to make something different with other.
But do not forget to keep another payment method in your store.
Because Not everyone uses bitcoin. About risk, everything we do has a risk.

It is not primarily in the condition whether everyone uses the mode of payment or not but rather, the benefit that it will give to your business from doing so. You may encourage other customers to o so, by just giving valid reasons of how will it help both parties. But mind how will it help you. Are you willing to put all of your profit from your business into a risky investment? Everyone probably know what I am pointing out about this "risk". Business needs stability, and that might be enough to tell you that doing so will affect your business. So better make a good plan.

[proTECH77]

I think before accepting bitcoin for payment you have to consider the number of customers  that is demanding to buy and pay with bitcoin for the quality of goods they are about to buy in your online store. If you are not okay with the number of the customers want to pay with bitcoin and each profit,you
be making from each customer that come to buy if it will profit you at the end of the business.
Bitcoin fees is too high which is making some customers to make use of cryptocurrency than bitcoin because of the high fees involved for any transaction.
Since bitcoin is still rising in the exchange market, show that Imore customers will like to come in population to you store to buy and pay with bitcoin,  if you start accepting bitcoin payment which many customers are looking for were to purchase their goods and pay with bitcoin.

[HonourB]

I think you should, since Bitcoin is also a means of payment and aslo it is to your added advantage as the market seem to moving fine...

[ufaiz50]

Also depending on the type of store you run. I would make sure that you set the number of confirmations from the network to at least 1. Otherwise you might have problems with double spend again.
That also depends on which coin payments provider you want to work with. They do not accede to every business. More and more people are switching to online payments via bitcoins.
It certainly wouldn't be bad to offer this service.

[NelfiNovita]

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

this is a good idea, with this other people can know bitcoin and they will definitely use bitcoin as a means of payment.  On the other hand, Bitcoin also has problems such as transactions that take longer than transactions with fiat money.  it all depends on you, if you want to accept the shortage of bitcoin then accept payment with bitcoin.

[geyayy]

You can add more payments as you wish, it will give the buyers or the shoppers more options for their payment. If your items' price are a bit high, then bitcoin payment method isn't a problem at all, even its volatility.

[Dollar_Hunter]

If you are in a country that does not have regulations on crypto currencies,
of course that is a good thing, because in my country crypto currency cannot be used as a means of payment,
only as an investment instrument, but if allowed, it is interesting because can make the public even more familiar with cryptocurrency.

[Lintel]

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 it depends in your country or place. If you know that there are many people in your place that are into cryptocurrency then you can try but I think it is too risky as they are volatile. You can try but make sure to study also the flow and prices of cryptocurrency. You can save and sell in the future but make sure you have enough capital to sustain your business. I hope this helps.

[Warkop]

In this era of increasingly advanced technology, it would be nice for your online store to add Crypto payments such as BTC, ETH and other Altcoins, but if you want to add Altcoins you should really choose it to add Altcoins in your online payment store. Not only that, you also have to really think about the risks when adding Crypto payments, it's up to you to think about it, but an idea like this is good even if your customers don't like crypto, the important thing is that you have told all your customers that here can pay with crypto, after that it's up to them how to choose it.

[L A R A]

You as a seller only need to be prepared with the risk of very large price fluctuations, especially if the funds you receive in Bitcoin are large, you can profit if the price of BTC rises and you can lose if the price of BTC goes down. For the payment method I think it's better to use stable coins to avoid these price fluctuations.

[samputin]

~
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 ...
~
Thoughts?

Thanks in advance

You've already said it — try. There's no harm in trying you know. And there are already other online shops accepting bitcoin as mode of payment. Here in our country, some online shops already did that. Maybe you can, too.

The more options, the better right? And it's also one way of letting people know about bitcoin. It can caught your consumer's interest and might even ask you about it. So it's kinda of a win-win situation. They get to see and buy your products (whether paying with bitcoin or not), and they get to know bitcoin as well in some sort.

[The cure]

I think it will serve as an advantage for your online store if you allow your costumers to use their bitcoin or any crypto as a means of payment, I heard there are people out there who's searching online store that accepts crypto and i think it would be great if you will try this, but be ready for the possible circumstances you might encounter . And for me in this era i think this is the right time to implement this.

[Xxmodded]

~
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 ...
~
Thoughts?

Thanks in advance

You've already said it — try. There's no harm in trying you know. And there are already other online shops accepting bitcoin as mode of payment. Here in our country, some online shops already did that. Maybe you can, too.

The more options, the better right? And it's also one way of letting people know about bitcoin. It can caught your consumer's interest and might even ask you about it. So it's kinda of a win-win situation. They get to see and buy your products (whether paying with bitcoin or not), and they get to know bitcoin as well in some sort.

I think bitcoin as payment for online store is good and worth but how respond and where is the costumer from his online store most important to accept bitcoin as payment. Not all costumer know with bitcoin exactly if your online store as fashion because they will little information when using bitcoin or altcoin as payment currency for your online store. Looking with your costumer from businessmen maybe have good chance if adopt bitcoin as payment transaction because they have more knowledge and will be glad if payment process faster than using fiat. Depend how respond your costumer when accepting bitcoin, I have ideas how if you use both payment currency in your online store, not only bitcoin but you should give chance for your costumer not know with bitcoin by accepting fiat as currency payment transaction.

[AbuBhakar]

You as a seller only need to be prepared with the risk of very large price fluctuations, especially if the funds you receive in Bitcoin are large, you can profit if the price of BTC rises and you can lose if the price of BTC goes down. For the payment method I think it's better to use stable coins to avoid these price fluctuations.

Accepting crypto will depend on the owner whether he will use it in trading, since if not then it will be risky to accept crypto not knowing when to sell them. It is good for crypto community even it is a small adoption it can help many people to let it know little by little. If you're area have many crypto enthusiast it can be a hit for your business for easy payment too

[nemey]

I think if you really want to implement this is very fine. However, how many of your customers use bitcoin? and if this is successful then it is very profitable for you. Paid in bitcoin, I think many are willing.